The Surat District Cooperative Bank Limited IFSC or Indian Financial System Code is an 11-character alphanumeric combination allocated to each bank branch by the Reserve Bank of India. The code is unique to every branch’s identity and hence no 2 branch can have the same IFSC Code. The use of IFSC Code is significant in the process of electronic or online transfer of funds using NEFT, RTGS or IMPS.
IFSC Code of The Surat District Cooperative Bank: Format
| The Surat District Cooperative Bank Code | Zero | The Surat District Cooperative Bank’s Branch Code | ||||||||
| S | D | C | B | 0 | 0 | 0 | 0 | 0 | 8 | 1 |
The above given (SDCB0000081) is an example of IFSC Code of The Surat District Cooperative Bank, Surat, Gujarat. The 11-character IFSC Code is a combination of 3 essential parts:
- The first 4 characters ‘SDCB’ indicate the bank code
- The 5th character is a ‘0’
- The remaining 6 characters ‘000081’ represent the branch code of Vankal, Surat
How to find The Surat District Cooperative Bank IFSC Code?
IFSC Code helps in identifying different bank branches, helping the customers to avoid any possible errors while initiating any transaction. The users can opt for any of the below mentioned ways to know the IFSC Code of a specific branch:
- IFSC Code Search Tool by Paisabazaar: The users can go to the IFSC Code search tool provided by Paisabazaar and enter required details like the bank name, state, city and branch name. The IFSC code will be displayed on the right hand side of the page along with MICR (Magnetic Ink Character Recognition) Code and other details.
- Cheque Book: The users can find the IFSC Code printed on the top left corner of the cheque leaf, while the MICR Code is printed at the bottom.
- Passbook. Both the IFSC and MICR Code can be found on the first page of the passbook provided by the respective bank branch.
- RBI: The IFSC code can also be found on the official website of the Reserve Bank of India.
- Net Banking / Mobile Banking: The IFSC Code can also be found by logging into the net banking portal or bank’s official mobile application.
Online Money Transfer using The Surat District Cooperative Bank Limited IFSC Code
The use of IFSC code is mandatory in transferring funds online from one bank branch to another using NEFT, RTGS or IMPS. Below given is the detailed description of the 3 payment services:
NEFT - National Electronic Funds Transfer System
- NEFT service can be availed 24x7 throughout the year (even on bank holidays)
- There is no maximum or minimum transfer limit in the NEFT service
- Both the bank branches of the remitter and the beneficiary should be NEFT-enabled for the transfer process to take place
- The inward transactions at the destination bank branches are free of charge
RTGS - Real Time Gross Settlement
- RTGS credits usually gets reflected on the same date of transaction if the payment is not done on any bank holiday or on any 2nd or 4th Saturday
- The service is available from 8 am to 6 pm on all working days
- There is a minimum limit of Rs.2 lakh to avail the service
- The inward transactions are free of charge
- The bank branches of the sender and the receiver should be RTGS-enabled
IMPS - Immediate Payment Service
- Transfer of funds via the IMPS service gets credited instantly in the beneficiary’s account
- The service can be availed 24x7, throughout the year (including Sundays and bank holidays)
- There is a maximum transfer limit of Rs 2 lakh, however there is no minimum transfer limit
- The inward transaction chargers are decided by the individual member banks and PPIs