The 5th character, which is 0, is for future use.Here, CNBR represents the name of the bank, which is Canara Bank.
The IFSC code for the Chandigarh Branch of Canara Bank is CNRB00001995. Let us take an example of the Canara Bank IFSC code to better understand what IFSC code is and how it works in banking transactions. All this happens in less than 30 seconds from your initial query.
The credit card IFSC code for some of the banks are mentioned in the table below: However, the credit card IFSC code for a particular bank will remain the same across the country.
In the case of the bank IFSC code, it varies from branch to branch. Used for all electronic payment options such as NEFT, RTGS and IMPSĭifference Between Bank IFSC Code and Credit Card IFSC Code.Helps eliminate errors in the fund transfer process.Helps uniquely identify a specific bank branch.Unless there is a merger, banks do not modify or change the IFSC code. In case you are using net banking to transfer money, it is mandatory for the IFSC to be entered to initiate the transfer.
Apart from the cheque leaf, you can also find the IFSC code on the official website of the bank and the RBI. The Reserve Bank of India (RBI) assigns the IFSC codes to the bank. You can find the IFSC code on the cheque leaf that is provided by the bank.
The Indian Financial System Code (IFSC), is a unique 11-digit alphanumeric code that is used for online fund transfer transactions done via NEFT, RTGS and IMPS.