An IFSC code, or an Indian Financial System Code, is an 11-digit number that is assigned to each individual banking branch in India to serve as a sort of financial postal code. You’ll often find these codes on checks from India or other banking materials, and you can find it by calling your bank or visiting their website.

Since these numbers are also used in electronic wire transfers, you want to be sure you have the correct number. Each branch receives a unique code, so make sure you haven’t grabbed the code from a different branch than the one you bank at by mistake. } underline=true />

Importance of IFSC Code

IFSC codes are very important if you are sending money to or from India since they denote the specific banking branch where your money is being sent to or from. You cannot transfer money to India without this code because you will be unable to specify where the account you are sending money to is located. Luckily these numbers are pretty easy to find.

Where can you find an IFSC code?

You can typically find the IFSC code for the Indian bank involved in your electronic wire transfer by looking at your checks or bank statements. If you do not have these materials on hand you can search an online IFSC directory or contact your banking branch directly. Since they are required for money transfers and banking in India, these numbers are not difficult to find.

What happens if IFSC code is wrong

If you enter the wrong IFSC code then your money transfer will likely not be completed. The money is typically transferred back to the sender and the transfer is cancelled, although you may not be able to recoup fees associated with the transfer. In some uncommon instances the money is debited to the wrong account, and the process to recover the funds is difficult and lengthy. Make sure you double check your IFSC before initiating a transfer.

Can I transfer money without IFSC code?

You cannot transfer money to, from or within India without an IFSC code. This would be the same as trying to mail a letter without a postal code – it will almost certainly not arrive in your intended destination. You need the name of the account holder you are transferring money to, their account number and the IFSC code of their banking branch in order to electronically wire funds.

Where to use IFSC Code in Remitbee platform

If you initiate a money transfer to India, Remitbee will prompt you to enter all of the information necessary to complete the money transfer, including the IFSC number.

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