ICICI Bank IFSC code allotted by the Reserve bank of India is an 11-digit alphanumeric code that is used to recognize various branches of ICICI Bank. ICICI Bank IFSC Code helps in minimizing the scope of inaccuracy while carrying out the fund transfer hence IFSC Code is an essential parameter for fund transfer.
Structure of ICICI IFSC Code
ICICI IFSC code is created in such a manner that the initial 4 digits specify the bank, the fifth digit is zero and the remaining digits specify the bank branch.
|Bank Code||Zero||Branch Code|
In the example stated above-
- “ICICI” is the Bank Code
- Fifth digit is zero kept for future use
- “002114” is the Lanka, Assam branch code
Other examples are
Why do we need the ICICI Bank IFSC Code?
ICICI Bank IFSC is a significant parameter for fund transfer that helps in identifying the source and the destination bank. Hence the chances of any error become negligible.
Here are the reasons that explain why we need ICICI Bank IFSC Code -
- Enables branch identification
- Aids in quick fund transfer
- Eases digitalization of bank operations
How to transfer funds using ICICI Bank IFSC Code?
There are three major ways to transfer funds using ICICI Bank IFSC Code, these are
NEFT: National Electronic Fund Transfer
RTGS: Real Time Gross Settlement
IMPS: Immediate Payment System
NEFT is an electronic fund transfer system used in India for quick interbank fund transfer. NEFT service is available 24*7 throughout the year and the fund transfer takes place in half-hourly batches. The key benefit of NEFT is that there is no minimum and maximum limit for fund transactions.
RTGS is the fastest inter-bank money transfer system in India. Money is transferred on a real time basis in case of RTGS and the minimum transaction limit set by the RBI for RTGS is Rs. 2lakh. RGTS system has a fixed operational time that can vary from bank to bank.
An IMP is a secure system whereby funds are transferred to the beneficiary’s account via a 2-step authentication process. There is no minimum limit for IMPS transactions but the maximum limit varies from bank to bank. The key benefit of IMPS is that the funds are transferred 24*7 throughout the year even on bank holidays.
How to find ICICI Bank IFSC & MICR Code?
One can find the ICICI Bank IFSC & MICR code on the following:
IFSC tool locator
- Paisabazaar offers a tool with the help of which one can find out the ICICI Bank IFSC & MICR Code
- Simply visit the IFSC tool locator by Paisabazaar, select the bank name as ICICI Bank then select the state and the branch for which you want the IFSC & the MICR code
- Alternatively, one can refer the Reserve Bank Of India’s website for the same.
Where to find the ICICI Bank IFSC Code?
One can opt-out for any of the below-mentioned ways to find out the ICICI Bank IFSC Code -
ICICI Bank Cheque Book
A cheque book is a book containing pre-printed pages with customer’s checking account information.
On a cheque, ICICI IFSC code is printed on the top whereas the MICR Code is printed at the bottom of the cheque
ICICI Bank Passbook
ICICI Bank account holders can also use their passbook to find out the ICICI Bank IFSC code
With the help of ICICI Bank Netbanking, customers can perform several banking-relatedd operations. One can also find the required IFSC code using the ICICI Bank netbanking facility.
One needs to login to the ICICI mobile banking application and can find out the required IFSC Code.
What is ICICI Bank MICR code?
ICICI Bank MICR Code is part of character recognition technology that is used by the banking industry for clearing and processing the cheques. It is a 9-digit code that aids in identifying the bank, the bank branch where the account is maintained and other details required for processing the cheque payments.
Where to find ICICI Bank MICR Code?
One can use the below mentioned ways to look for the ICICI Bank MICR code -
- ICICI Bank Passbook
- ICICI Bank Cheque Book
- ICICI Bank netbanking/Mobile Banking
What is ICICI Bank SWIFT Code?
SWIFT Code is used when the transfer of funds between two banks happens internationally. It is an electronic message transfer system that conveys messages in a predefined format, anywhere in the world as and when the transaction occurs.
How to find ICICI Bank Swift Code?
ICICI account holders are required to contact the ICICI Bank customer care department to find the ICICI Bank Swift code.
Difference between ICICI Bank IFSC, MICR and SWIFT Code?
ICICI Bank IFSC Code:
ICICI Bank IFSC code assigned by the Reserve bank of India is an 11-digit alphanumeric code that is used to recognize various branches of ICICI Bank. ICICI IFSC code is created in such a manner that the initial 4 digits specify the bank, the fifth digit is zero and the remaining digits specify the bank branch.
ICICI Bank MICR Code:
ICICI Bank MICR code is a 9-digit code that aids in identifying the bank, the bank branch where the account is maintained and other details required to process the cheque payments.
ICICI Bank SWIFT Code:
ICICI Bank SWIFT Code is a standard format for Business Identifier Codes (BIC) used for transferring funds internationally.
How to locate the ICICI Bank branch from IFSC Code?
ICICI Bank IFSC code is structured in such a way that the last six digits of the IFSC code specify the branch code. Hence the last six digits of IFSC Code are indicative of the bank branch.
Does ICICI Bank Credit Card has IFSC Code?
ICICI Credit card does not contain any kind of IFSC Code. IFSC Code is an 11-digit alphanumeric that is used for carrying out fund transfer via various funds transfer systems like NEFT, RTGS, and IMPS, etc.
In case an ICICI Bank credit holder wants to make a payment using the credit then it is required to enter the ICICI Bank Credit Card IFSC Code.
What is the ICICI Bank CIF number?
A CIF Number is a virtual file having all the banking information of an account holder. It is a 9-digit code that is uniquely assigned to all bank customers. No two account holders can have the same CIF number.
What is ICICI BSR Number?
BSR Number or the Basic Statistical Returns number consisting of 7-digits is allocated by the RBI to be used while filing TDS/TCS returns etc.