The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Bank Of India for its Bicholim branch in Bicholim, Bicholim, Goa, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Bank Of India located in Bicholim or anywhere in Goa can transfer funds instantly by using the correct IFSC Code BKID0001002. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Bicholim, Bicholim
Below in the table are the key details related to IFSC Code BKID0001002 of Bank Of India for its branch located in Bicholim, within the district of Bicholim in the state of Goa.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0001002 |
| Branch | Bicholim |
| City | Bicholim |
| District | Bicholim |
| State | Goa |
| Address | Kamat Bldgoppnew Municipal Market |
These details help users in online banking and for businesses and individuals who use Bank Of India in Bicholim for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0001002 for the Bicholim 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 Bicholim, Bicholim, Goa, are allotted a unique IFSC like BKID0001002 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Bicholim.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Bicholim and Bicholim.
- 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 Bicholim reaches the right place, even though there are thousands of branches in Goa and across India.
Format of the IFSC Code BKID0001002
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Bank Of India, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Bicholim in Bicholim.
For example, the IFSC Code BKID0001002 of Bank Of India for the Bicholim branch includes these elements, identifying the bank and the branch location in Bicholim and Goa accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0001002 of Bank Of India for its Bicholim branch located in Bicholim, 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
Most banks, including Bank Of India branches in Bicholim and Bicholim, print the IFSC and MICR codes 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 Bicholim or Bicholim to get the exact IFSC Code BKID0001002.
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 Bicholim, you'll get the correct details.
How to Use IFSC Code BKID0001002 for Online Transfers?
Once you have the IFSC Code BKID0001002 for the Bicholim branch of Bank Of India in Bicholim, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0001002. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and Bank Of India IFSC Code BKID0001002.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Bank Of India Bicholim in Bicholim, it can result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of India in Bicholim, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Bicholim manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0001002.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Kamat Bldgoppnew Municipal Market located in Bicholim, Bicholim, Goa.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.