YES Bank IFSC Code is an 11-digit alphanumeric code allotted by the Reserve Bank of India (RBI) to all the branches of Yes Bank. The IFSC Code is primarily used to transfer funds online for NEFT, IMPS, or RTGS transactions.
It helps RBI monitor all online transactions with ease and ensure the bank account holder to verify the beneficiary’s account and branch details while making an electronic transfer.
YES Bank IFSC Code Format
In YES Bank IFSC Code, 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.
Let’s now take an example of a specific IFSC Code to easily understand the format of YES Bank IFSC code. The IFSC code of YES Bank's Gurgaon branch is YESB0000002.
|Yes Bank Code||Zero||Yes Bank's Branch Code|
- ‘YESB’ represents the bank name - YES Bank
- The 5th character is 0
- The other 6 characters, ‘000002’ represents the branch of the Yes Bank, which is Gurgaon branch in this case
How does the IFSC Code of YES Bank works?
IFSC code helps systems route payments to the right branches during fund transfer. 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.
So, the appropriate functioning of NEFT, RTGS, and IMPS is extensively dependent on the IFSC code of YES Bank and other banks as well.
How to find YES BANK IFSC Code & MICR Code?
Customers can search for YES BANK IFSC Code by any of the below-mentioned ways -
- Account holders can use the online IFSC Search Tool offered by Paisabazaar. Account holders can follow the steps mentioned below:
- Find the IFSC finder tool at the top of this page
- Yes Bank is the default bank name selected here, it can be changed for any other bank
- Enter the details like the name of the state and the city
- Select the bank branch to check its IFSC and MICR Codes alongwith other details
Alternatively, IFSC and MICR codes for any YES Bank's branch can be found on the following platforms as well:
- The codes are printed on the bank cheque. The below image of the Yes Bank's cheque will help understand better:
IFSC code is mentioned at the top of the cheque whereas Cheque number and MICR code is present at the bottom of the cheque
MICR is an acronym for Magnetic Ink Character Recognition which is a technology used in the banking industry in printing the MICR codes. A MICR code is a 9-digit code that uniquely identifies a bank and a branch participating in an Electronic Clearing System (ECS).
- Yes Bank account holders can also find the IFSC Code on their account passbook provided by the bank.
- Account holders can also check these codes of their respective bank branch by visiting the Reserve Bank of India’s official website.
- Customers can also check these in the bank’s mobile application or through internet banking after login using the credentials.
What are the different modes of fund transfer using YES Bank IFSC Code?
With the advancement in digitization, everything now has become dependant on the online world. So, the different online fund transfer modes are provided by all banks. The majorly used modes are NEFT, RTGS, and IMPS.
|RTGS is an online payment method that is meant for high-value funds transactions and the transfer for the same is done on a real-time basis||NEFT is based on Deferred Net Settlement (DNS) and facilitates the transfer of funds from any bank branch to any other bank branch.||IMPS is an instant fund service and works all throughout the day. It can be used 24*7 to transfer funds to any other bank account|
|Customer needs to have the beneficiary’s account number, beneficiary’s name, and IFSC code to carry out the fund transaction||The sender has to provide the beneficiary’s name, IFSC code of the beneficiary bank branch, account type, and account number in order to carry out fund transfer via NEFT||In order to send money the sender needs to provide the beneficiary’s account no, IFSC Code and beneficiary’s name|
About YES Bank
YES Bank is India’s fourth-largest private sector bank and it is the only bank that has Greenfield Bank license issued by Reserve Bank of India (RBI).
YES Bank has built a corporate, retail & SME banking franchise, with a comprehensive product suite of financial markets, investment banking, corporate finance, branch banking, business and wealth management business lines across the country.