Corporation Bank IFSC Code is a set of eleven characters assigned by the Reserve Bank of India (RBI), which helps to uniquely identify the branch of every bank. Any kind of fund transfer through a bank requires a valid IFSC Code.
Corporation Bank IFSC Code Format
|Bank code||Zero||Branch code|
Corporation Bank IFSC Code is composed of 11 characters, the first four characters of IFSC Code represent the bank. The fifth character is “0” which is fixed across all the IFSC codes and the remaining six characters are the branch code.
- IFSC code of Corporation Bank branch at sector 38C Chandigarh is CORP0003067
- The first four (CORP) are alphabetic characters that represent the bank
- Fifth character is always “0”
- The last six digits (003067) represent the Corporation Bank Sector 38C, Chandigarh branch
How does the IFSC Code of Corporation Bank works?
When a fund transfer is initiated by the payer, he/she has to provide the bank details such as bank name, branch, account number and IFSC code of the payee. Once the payer provides all the required details only then the funds will be transferred to the account of the payee with the help of the IFSC Code in an error-free manner. Fund transfers are done only with a valid IFSC code as IFSC code helps to identify the source and destination bank in the event of a transaction.
How to search for Corporation Bank IFSC Code & MICR Code?
There are multiple ways by which a customer can search for Corporation Bank IFSC Code & MICR Code:
Paisabazaar IFSC Code Search Tool
Customers can search for Corporation Bank IFSC Code by visiting IFSC Code Locator Tool offered by Paisabazaar. Account holder will only be required to provide information like bank name, state, city and branch to get the IFSC code
Corporation Bank Cheque Leaf / Passbook
Alternatively, IFSC and MICR codes for any Corporation Bank branch can be found on the bank cheque. Corporation Bank IFSC code is placed at the top of the cheque whereas Cheque number and MICR code are placed at the bottom of the cheque.
MICR code: Every bank is given a unique 9-digit Magnetic Ink Character Recognition Code(MICR) which helps the RBI to identify the bank branch and speed up the cheque clearing process.
Reserve Bank of India
The official website of RBI includes the list of all the banks and branches that take part in electronic fund transfer along with their IFSC code.Hence a customer can visit the RBI website for the same.
Netbanking / Mobile Banking
Customers can get the Corporation Bank IFSC Code via various digital banking platforms also. This include Corporation Bank mobile banking app and net banking.
How to make fund transfer using the Corporation Bank IFSC Code?
One can transfer funds online by various modes -
National Electronic Funds Transfer (NEFT) is an Indian system of electronic transfer of money from one bank to another. It is based on Deferred Net Settlement (DNS) which settles transactions in batches.
A customer must have the following information before using NEFT:
- Name and account number of the beneficiary
- IFSC of the beneficiary bank/branch
- Amount to be transferred
Real-Time Gross Settlement (RTGS) is an electronic fund transfer method used for high-value transactions, with its minimum transfer amount set to Rs 2 lakh.
A customer must have the following information before using RTGS:
- Name and full Bank account number of the beneficiary
- IFSC of the beneficiary Bank/Branch
- Amount to be transferred
Immediate Payment Service (IMPS) is an instant fund transfer system that offers an inter-bank electronic fund transfer service through mobile phones and is available 24/7 throughout the year including bank holidays.
About Corporation Bank
Corporation Bank, headquartered in Mangalore, was founded in 1906 and nationalized in 1980. The bank is the first bank in its sector to introduce Cash Management Services, m-commerce, gold banking, etc.