IFSC Code of Bank Of India, Chandor, Chandor Goa, Goa- BKID0001042

There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Chandor branch in Chandor(Goa), Chandor Goa, Goa, then this comprehensive guide will provide you with detailed information.

The banking system in India has changed over time, and today the customers of Bank Of India situated in Chandor(Goa) or anywhere in Goa can easily transfer funds instantly by using the correct IFSC Code BKID0001042. You should 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, Chandor, Chandor(Goa)

Here are the main details that are associated with the IFSC Code BKID0001042 of Bank Of India for its branch located in Chandor(Goa), within the district of Chandor Goa in the state of Goa.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Chandor(Goa) for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0001042 for the Chandor branch of Bank Of India is vital.

What Is IFSC Code and Why Is It Important?

IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Chandor, Chandor(Goa), Goa, is provided a unique IFSC like BKID0001042 so that their online payments reach the right place.

The IFSC Code is important because:

• It uniquely recognizes the Bank Of India branch in Chandor(Goa).
• Helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It avoids any confusions between multiple branches of the same bank across different places like Chandor(Goa) and Chandor Goa.
• It reduces most of the errors in fund transfers and makes sure its accuracy.
• It enables sender banks to validate and confirm branch details before processing payments.

For thousands of branches across Goa and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Chandor do not get misguided to another person.

Format of the IFSC Code BKID0001042

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): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
• 5th character (0): This is always zero and is reserved for future use.
• Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Chandor in Chandor(Goa).

For example, the IFSC Code BKID0001042 of Bank Of India for the Chandor branch has these elements, identifying the bank and the branch location in Chandor(Goa) and Goa correctly.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0001042 of Bank Of India for its Chandor branch located in Chandor(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 Chandor(Goa) and Chandor 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 Chandor or Chandor(Goa) to get the exact IFSC Code BKID0001042.

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 Chandor(Goa) that will provide accurate information.

How to Use IFSC Code BKID0001042 for Online Transfers?

Once you have the IFSC Code BKID0001042 for the Chandor branch of Bank Of India in Chandor(Goa), you can start with your fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0001042. 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 BKID0001042.

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 Chandor in Chandor(Goa), it can result in delayed or failed transactions.

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 Chandor, here are some ways to obtain 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.

Having both the IFSC and MICR codes makes it easy for account holders in Chandor(Goa) to handle online money transfers and get their cheques cleared smoothly.