What is branch MICR code?
MICR code is a code printed on cheques using MICR (Magnetic Ink Character Recognition technology). This enables identification of the cheques and which in turns means faster processing. An MICR code is a 9-digit code that uniquely identifies the bank and branch participating in an Electronic Clearing System (ECS).
How do I find my bank branch MICR code?
The MICR code is located on the bottom of a cheque leaf, next to the cheque number. You can also find it printed on the first page of a bank savings account passbook.
Is MICR number Same for a branch?
The first three digits of the MICR code represent the city, the next three give the bank code and the last three digits denote the branch of the bank. Similar to an IFSC code, every branch of a bank has a specific MICR code. While IFSC is used for online fund transactions, MICR is used for cheques.
How do I find my branch code Boi?
For Bank of India’s 11-digit IFSC code, the first four letters will be ‘BKID’, and the last 6 digits will represent a specific branch code. For example, the IFSC code of the Bank of India branch on Hauz Khas,G-1, Hauz Khas Enclave, Mehrauli Road, New Delhi110016, is BKID0006005. Here, 006005 is the branch code.
What is MICR code in passbook?
The Reserve Bank of India has made it mandatory for all banks to print the MICR and IFSC code on the passbook and statement of account of the customers. “Currently, the MICR (Magnetic Ink Character Recognition) code is available on the cheque leaf along with the IFSC (Indian Financial System Code) code of the branch.
What does MICR mean?
Magnetic ink character recognition
Magnetic ink character recognition (MICR) is a technology used primarily to identify and process checks. The MICR on a check is the string of characters that appears at the bottom left of the check. It consists of three groups of numbers, including the bank routing number, the account number, and the check number.
What is my bank branch?
If you use online banking, the easiest way to find your bank branch is to log in and go to your account details. This should give you the name of your account, account number, sort code and branch address. Your branch address should also be on any paper statements or letters you’ve received from your bank.
Can I share my MICR code?
So, it is safe if someone knows your Bank account’s IFSC and Branch Code because it is publicly available. It is advised by bank authority not to share your PAN to anyone. If your PAN is known to wrong person. They may do transactions in which PAN is required.
Can we share our MICR code?
Card details: Information such as expiry date of your credit or debit card, its number, and your full name are prominently displayed on the card. Your name would be known to most people, but you should not share any other information printed on the card. It is printed there for you, not for others.
How can I find out my bank’s MICR code?
To find MICR code, you can use Bank branch locator tool by filtering by bank name, state, district and bank branch. You can also use MICR code search tool. You can search by typing bank name, branch name, ifsc code, address, city, district, state. Browse MICR Code by Banks
Can you search bank by IFSC or MICR code?
Ans. Yes. Apart from IFSC code, you can search by many other terms like branch location, MICR code, branch code etc. I could not find my bank branch here.
What do the first three digits of the MICR code mean?
Each of the three digits which comprise the 9 digit number, signify some important information about the bank and the transaction. So, the first three digits of the MICR code represent the city code i.e. the city where the particular bank branch is located.
What is the significance of MICR code in India?
This enables identification of the cheques and which in turns means faster processing. An MICR code is a 9-digit code that uniquely identifies the bank and branch participating in an Electronic Clearing System (ECS). The first three digits represent the city (City Code). They are aligned with the PIN code we use for postal addresses in India.