IFSC Code of Bank Of India, Tumsar, Tumsar, Maharashtra- BKID0VG5020

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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Tumsar branch in Bhandara, Tumsar, or Maharashtra, this guide will help you with all the details.

There have been major changes in the banking sector in India and today, the customers of Bank Of India located in Bhandara or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG5020. 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, Tumsar, Bhandara

Below in the table are the key details related to IFSC Code BKID0VG5020 of Bank Of India for its branch located in Bhandara, within the district of Tumsar in the state of Maharashtra.

These details help users in online banking and for businesses and individuals who use Bank Of India in Bhandara for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG5020 for the Tumsar 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 Tumsar, Bhandara, Maharashtra, are given a unique IFSC like BKID0VG5020 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It clearly tells which bank branch it is in Bhandara.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It prevents any kind of confusion between different branches of the same bank in places like Bhandara and Tumsar.
• It reduces errors in fund transfers and improves accuracy.
• It helps the sender banks to validate and confirm branch details before processing payments.

It helps ensure that any money sent to Bank Of India in Tumsar goes to the correct branch. This is important because Bank Of India has thousands of branches in Maharashtra and all over India, and the IFSC Code prevents payments from going to the wrong place.

Format of the IFSC Code BKID0VG5020

The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:

AAAA0CCCCCC

Here's the breakdown of this:

• First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
• 5th character (0): Always zero which is reserved for future use.
• Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Tumsar in Bhandara.

For example, the IFSC Code BKID0VG5020 of Bank Of India for the Tumsar branch includes these elements, identifying the bank and the branch location in Bhandara and Maharashtra accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0VG5020 of Bank Of India for its Tumsar branch located in Bhandara, the following methods can help:

Cheque Book

The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.

Passbook

You can easily find the IFSC and MICR codes because most banks, including Bank Of India branches in Bhandara and Tumsar, print them on the first page of your passbook.

Bank Website

Visit the official website of Bank Of India and navigate to the branch locator section. Search for Tumsar or Bhandara to get the exact IFSC Code BKID0VG5020.

Mobile Banking App

If you use Bank Of India's mobile app, you can check your account details to find your branch's IFSC code.

RBI Website

The Reserve Bank of India keeps an updated list of all IFSC codes. If you search for Bank Of India and Bhandara, you'll get the correct details.

How to Use IFSC Code BKID0VG5020 for Online Transfers?

Once you have the IFSC Code BKID0VG5020 for the Tumsar branch of Bank Of India in Bhandara, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0VG5020. The transfer is completed in batches instead of instantly. It is useful for both personal and business payments.

RTGS

Used for high-value payments above ₹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 BKID0VG5020.

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 Tumsar in Bhandara, your payment can get delayed or might not go through at all.

Finding the MICR Code

MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Bank Of India in Tumsar, here are some ways that you can get it:

• Check the bottom of your cheque leaf.
• Refer to the first page of your passbook.
• Visit the official Bank Of India website.
• Search the RBI portal.

If you know both IFSC and MICR codes, then it can help account holders in Bhandara manage online transfers as well as cheque clearances with ease.