Deutsche Bank Indian Financial System Code abbreviated as IFSC is an 11 digit alphanumeric code that helps in identifying a specific branch of the Deutsche Bank and is significant in the online fund transfer via NEFT, RTGS or IMPS. Bank account holders can check the IFSC Code for their branch online and offline.
Significance of Deutsche Bank IFSC Code
- Smooth online funds transfer: Deutsche Bank IFSC code enables the convenient and hassle-free transfer of funds from one bank account to another. The use of IFSC Code is mandatory in facilitating all the electronic or online transfer of funds via NEFT, RTGS or IMPS
- Monitoring transactions: Deutsche Bank IFSC code is used by the RBI to keep a regular track of all the banking transactions, thereby minimizing the possible chances of any discrepancy in the fund transfer process
- Unique identification: IFSC code helps in the unique identification of all banks and their respective branches, hence helping customers to avoid any possible errors
- Eliminating Errors: Deutsche Bank IFSC code helps users to carry out the fund transfer process securely, hence eliminating the possible chances of any fraudulent activity in the online fund transfer process
Format of Deutsche Bank IFSC Code
Let’s take an example; DEUT0784OPT is the IFSC code of Deutsche Bank's Mumbai Options Branch. In the 11 characters of this code, the first 4 characters ‘DEUT’ represent the bank code, the 5th character is a ‘0’ and the last 6 characters ‘784OPT’ determines the Mumbai Options branch of Deutsche Bank.
Other examples are
- DEUT0916CNN is the IFSC Code of Chennai Branch
- DEUT0796DEL is the IFSC Code of New Delhi Branch
Why do we need the Deutsche Bank IFSC Code?
The IFSC Code is crucial in the online transaction process from one bank to another. It helps in identifying different banks and their branches helping the customers to avoid any mistakes during the process of a transaction. Hence, it plays a vital role in electronic or online funds transfer process via NEFT, RTGS or IMPS. There are different ways in which a user can identify the IFSC Code of his/her branch of Deutsche Bank such as NEFT, RTGS, IMPS, etc.
How to transfer money using the Deutsche Bank IFSC Code?
IFSC Codes are used to perform online fund transfers via NEFT, RTGS & IMPS. It is not possible to transfer money online without the IFSC Code. Following is the detailed explanation of the online fund transfer system:
NEFT: National Electronic Funds Transfer System
- There is no maximum or minimum transfer limit in the NEFT service (There is a limit of Rs.50,000/- if the NEFT service is generated via cash)
- Both the bank branches of the sender and the receiver should be NEFT enabled for the transfer process to take place
- The inward transactions at the destination bank branches are free of cost
RTGS: Real-Time Gross Settlement
- RTGS credits usually get reflected on the same date of transaction if the payment is not done on any bank holiday or on any 2nd or 4th Saturday
- There is a minimum limit of Rs.2 lakh to avail the service
- The inward transactions are free of cost
- The bank branches of the beneficiary and remitter should be RTGS-enabled
IMPS: Immediate Payment Service
- Funds transfer via the IMPS service gets credited instantly in the beneficiary’s account
- The service can be availed 24X7, throughout the year
- There is a maximum limit of Rs.2 lakh but no minimum transfer limit
- The inward transaction chargers are decided by the individual member banks
How to find the Deutsche Bank IFSC Code & MICR Code?
There are different ways in which a user can identify the IFSC Code of his/her branch of Deutsche Bank.
- IFSC Code search tool: The customers can visit the Paisabazaar IFSC Code Search Tool to find the IFSC Code and MICR (Magnetic Ink Character Recognition) code by following these steps:
- Find the tool at the top of this page, Deutsche Bank is selected by default
- Select the state, city and then the branch name in which the customer is holding an account
- All the details along with IFSC & MICR Code will be displayed on the right-hand side of the page
- Reserve Bank of India: RBI also provides the list of IFSC Codes of all banks in India and their respective branches. The given picture shows the IFSC Code of Deutsche Bank Bangalore.
Where to find the Deutsche Bank IFSC Code?
- Cheque Book: Deutsche Bank IFSC Code is printed on the top left corner of the cheque, while the MICR Code is present at the bottom
- Deutsche Bank Net Banking / Mobile Banking: Account-holders can search for these codes on the official Deutsche Bank net banking portal or mobile banking application by simply logging in using the customer ID and password.
- Deutsche Bank Passbook: The bank account holders can also find their branch's IFSC Code on their account passbook provided by the bank.
What is the Deutsche Bank MICR Code?
Deutsche Bank MICR code is a unique 9-digit code that enables faster processing of cheques. Account-holders can check their Deutsche Bank MICR codes at the bottom of their cheque (as shown in the image above).
Format of MICR Code
MICR Code is divided into 3 parts wherein the first 3 digits represent the city code, the next three digits stand for the bank code while the last three digits represent the bank branch code.
110200002 is the MICR Code of New Delhi Branch
Where to find Deutsche Bank MICR Code?
- Account-holders can check their Deutsche Bank MICR codes at the bottom of their cheque as shown in the image above
- One can look into the Deutsche Bank’s passbook as well for the same
- Deutsche Netbanking Account and the Mobile Banking App can also be used to get the MICR Codes of the respective bank branch
What is the Deutsche Bank Swift Code?
Deutsche Bank Swift Code or Swift number is an internationally recognized identification code used for international wire transfers around the world. The code comprises 8 or 11 alphanumeric characters that are required to carry out overseas fund transfer. The Swift code of every bank branch is unique.
How to find the Deutsche Bank Swift Code?
Customers need to contact the Deutsche Bank Customer Care Department to get the required Swift Code.
Difference between Deutsche Bank IFSC, MICR & SWIFT Code
|IFSC Code||MICR Code||SWIFT Code|
|Stands for Indian Financial System Code||Stands for Magnetic Ink Character Recognition||Stands for Society for Worldwide Interbank Financial Telecommunication|
|Is a unique identification code required for electronic transfer of funds via NEFT, RTGS and IMPS system||MICR code uses magnetic ink and makes the processing of a large number of cheques easier||Swift code helps in easier identification of the financial institution thus making an international transfer of money instant|
|Contains 11 alphanumeric characters||Contains 9-digits||Contains 8 to 11 characters|
How to locate the nearest Deutsche Bank branch from IFSC Code?
IFSC Code of the Deutsche Bank can be used to locate any bank branch. The IFSC Code is formed in such a way that the first 4 characters represent the name of the bank, the fifth character is ‘0’ while the last 6 characters denote a particular bank branch.
Hence from the last 6 characters, one can locate the Deutsche Bank branch.
Does Deutsche Bank Credit Card have IFSC Code?
No, a credit or a debit card doesn't contain any kind of IFSC Code. IFSC Code is a unique identification code designated by the Reserve Bank of India for each bank branch across the country used in the fund transfer system.
Deutsche Bank Credit card bill payment could be done by various methods and customers can choose one as per their convenience. One of such mode of payment is Deutsche Credit Card IFSC Code. Simply enter the Deutsche Credit Card IFSC Code to make the payment through NEFT/RTGS.
What is the Deutsche Bank CIF Number?
CIF Number is the customer number with the bank to which all the accounts of a customer are linked. As per RBI guidelines, a person can have only one CIF number with a bank. All the accounts should be linked to the same CIF.
What is Deutsche Bank BSR Code?
A BSR Code is a 7 digit code allotted by the Reserve Bank of India to the registered banks in India. The code is composed of 7-digits wherein the first three digits are for identification of the bank and the last four digits are for identification of the branch.
Significance of BSR Code -
BSR Codes are used mainly when filing Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) returns which helps banks to keep a clear record of every online payment done towards tax.
How to find the Deutsche Bank branch Code?
If we look at the Deutsche Bank IFSC Code format, the first 4 characters represent the bank code. The fifth character is 0 (zero), whereas the last 6 characters of the code represent the respective branch.
So from the last 6 characters, one can find out the Deutsche Bank Branch code.