United Bank of India Indian Financial System Code (IFSC Code) is a unique 11-digit alphanumeric code provided to banks and their branches by the Reserve Bank of India (RBI). The RBI assigns the United Bank of India IFSC Code to the branches that participate in the electronic fund transfer system.
Significance of United Bank IFSC Code
- Encourages paperless banking and ensures a safe transaction
- Helps identify the location of a specific bank branch
- Helps in maintaining a clear transmission between the sender and receiver
United Bank IFSC Code Format
| Bank code | Zero | Branch code | ||||||||
| U | T | B | I | 0 | S | C | D | 7 | 4 | 9 |
IFSC code of United Bank of India comprises of 3 parts:
- First 4 alphabetic characters are indicative of the bank
- The fifth character of the entire IFSC code is always a zero
- Last six digits that are generally numeric but can be alphabetic and represent the bank branch
In the above example, the first 4 characters “UTBI” represents the bank, the fifth character is always “0” and the last 6 characters “SCD749” represents the bank branch.
How does the United Bank Of India IFSC code work?
United Bank Of India IFSC code is utilized by the fund transfer systems like NEFT, RTGS, IMPS to recognize the origination and destination bank branches. Hence, the appropriate functioning of NEFT, RTGS, and IMPS is extensively dependent on IFSC code.
Once the payer provides all the required details then only the fund can be transferred to the account of the payee with the help of the IFSC Code in an error-free manner.
How to find the United Bank of India IFSC Code & MICR Code?
There are multiple ways by which a person can look for United Bank of India IFSC Code & MICR Code:
IFSC Search Tool offered by Paisabazaar
- Accountholders can find United Bank of India IFSC Code by visiting IFSC Code Locator Tool offered by Paisabazaar
- Enter the bank name, city name and the state name
- Select the United Bank of India branch and get the IFSC code
Cheque Leaf and Bank Passbook
IFSC code can be found on cheque leaf and bank passbook of the respective bank. The image below will help understand better:
IFSC code is mentioned at the top of the cheque whereas cheque number and MICR code are placed at the bottom of the cheque.
What is MICR code?
Magnetic Ink Character Recognition Code (MICR) is a 9 digit code used for faster processing of cheques. The first 3 digits define the city code, the next 3 digits represent the bank code and the last 3 digits are the code of the bank branch.
Reserve Bank of India
Banks and respective branch list of IFSC codes can be obtained from the Reserve Bank of India’s website. So, account holders looking for the United Bank of India IFSC Code can also visit RBI’s official website.
United Bank of India Net banking / Mobile Banking
The IFSC code of United Bank of India can also be found on digital banking platforms provided by the bank. Account holders can log in to the United Bank of India Netbanking portal or download and use the United Bank mobile banking app for the same.
What are the different modes of fund transfer using the United Bank of India IFSC Code?
IFSC code is used to transfer funds online by using three main quick payment systems such as NEFT, RTGS, and IMPS.
NEFT
NEFT or National Electronic Fund Transfer is an electronic payment system used for the quick interbank transfer of funds. To transfer funds using NEFT, account holder needs to have net banking or the mobile banking facility of the United Bank of India.
The payee will be required to add a beneficiary before transferring the funds. One should make note of beneficiary account number, IFSC number, bank name, and name as per bank details.
RTGS
As the name indicates, in Real-Time Gross Settlement (RTGS) is done on real-time basis without netting which means that an order is processed individually in an order by order basis.
One should make note of beneficiary account number, IFSC number, bank, and branch name and name in order to carry out fund transfer.
IMPS
Immediate Payment Service (IMPS) is the fastest methods of fund transfer used widely across most banks. Unlike other methods of fund transfer that become unavailable on bank holidays and during off working hours, IMPS functions 24/7 allowing a fund transfer at any time of the day.
Enter the required details such as name, account number of the beneficiary, and the amount to be transferred to carry out fund transfer.
About United Bank of India
United Bank of India was formed in 1950 after the amalgamation of four banks, namely Bengal Central Bank Ltd. (set up in 1918), Comilla Banking Corporation Ltd. (set up in 1914), Comilla Union Bank Ltd. (set up in 1922), and Hooghly Bank Ltd. (set up in 1932). United Bank of India (UBI) offers a wide array of financial products to fulfil a variety of financial needs of its customers.