Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Bank Of India for its Bambolim branch in Bambolim(Goa), Bambolim Goa, Goa, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Bank Of India located in Bambolim(Goa) or anywhere in Goa can transfer funds instantly by using the correct IFSC Code BKID0001048. You should definitely know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Bambolim, Bambolim(Goa)
Below in the table are the key details related to IFSC Code BKID0001048 of Bank Of India for its branch located in Bambolim(Goa), within the district of Bambolim Goa in the state of Goa.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0001048 |
| Branch | Bambolim |
| City | Bambolim(Goa) |
| District | Bambolim Goa |
| State | Goa |
| Address | Mathias House Near Holy Crossbambolim Goa |
These details help users in online banking and for businesses and individuals who use Bank Of India in Bambolim(Goa) for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0001048 for the Bambolim branch of Bank Of India has a very important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Bambolim, Bambolim(Goa), Goa, are allotted a unique IFSC like BKID0001048 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Bambolim(Goa).
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Bambolim(Goa) and Bambolim Goa.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Bambolim reaches the right place, even though there are thousands of branches in Goa and across India.
Format of the IFSC Code BKID0001048
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Bambolim in Bambolim(Goa).
For example, the IFSC Code BKID0001048 of Bank Of India for the Bambolim branch includes these elements, identifying the bank and the branch location in Bambolim(Goa) and Goa accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0001048 of Bank Of India for its Bambolim branch located in Bambolim(Goa), the following methods can help:
Cheque Book
The cheque books that are issued by Bank Of India include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Bambolim(Goa) and Bambolim Goa, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and find the branch locator section. Search for Bambolim or Bambolim(Goa) to get the exact IFSC Code BKID0001048.
Mobile Banking App
If you use Bank Of India's mobile app, you can easily check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes to help you in searching for Bank Of India and Bambolim(Goa) that will provide accurate information.
How to Use IFSC Code BKID0001048 for Online Transfers?
Once you have the IFSC Code BKID0001048 for the Bambolim branch of Bank Of India in Bambolim(Goa), you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0001048. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and Bank Of India IFSC Code BKID0001048.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of India Bambolim in Bambolim(Goa), your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Bambolim, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Bambolim(Goa) manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0001048.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is Mathias House Near Holy Crossbambolim Goa located in Bambolim(Goa), Bambolim Goa, Goa.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.