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Originally Posted by Sahara
How would one know the IFSC code of the receiving branch?
Ans. The beneficiary customer can obtain the IFSC code from his branch. The IFSC code is also available in the cheque leaf. This code number and bank branch details can be communicated by the beneficiary to the remitting customer.
What is IFS Code (IFSC)? How it is different from MICR code?
Ans: Indian Financial System Code (IFSC) is an alpha numeric code designed to uniquely identify the bank-branches in India. This is 11 digit code with first 4 characters representing the banks code, the next character reserved as control character (Presently 0 appears in the fifth position) and remaining 6 characters to identify the branch. The MICR code has 9 digits to identify the bank-branch.
How I will know, what is the IFS Code of my bank-branch?
Ans: RBI had since advised all the banks to print IFSC on cheques leaves issued to their customers. You may also contact your bank-branch and get the IFS Code of that branch.
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i may not have to know about this as i dont live in India but this is indeed a very good information sahara. by the way paypal has limited my account for large amount received last year. they said they'll send a mail to my address with verification code inside. already 2 month now but still nothing arrive
