IFSC Code of Bank Of India, College Square, Cuttack, Odisha- BKID0005587

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 College Square branch in Cuttack, Cuttack, or Odisha, 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 Cuttack or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code BKID0005587. 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, College Square, Cuttack

Here are the main details that are associated with the IFSC Code BKID0005587 of Bank Of India for its branch located in Cuttack, within the district of Cuttack in the state of Odisha.

These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Cuttack for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005587 for the College Square branch of Bank Of India has an important role.

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 College Square, Cuttack, Odisha, is provided a unique IFSC like BKID0005587 so that their online payments reach the right place.

The IFSC Code is important because:

• It uniquely recognizes the Bank Of India branch in Cuttack.
• 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 Cuttack and Cuttack.
• 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 Odisha and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in College Square do not get misguided to another person.

Format of the IFSC Code BKID0005587

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 College Square in Cuttack.

For example, the IFSC Code BKID0005587 of Bank Of India for the College Square branch includes these elements, identifying the bank and the branch location in Cuttack and Odisha accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0005587 of Bank Of India for its College Square branch located in Cuttack, 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 Cuttack and Cuttack, 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 College Square or Cuttack to get the exact IFSC Code BKID0005587.

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 Cuttack that will provide accurate information.

How to Use IFSC Code BKID0005587 for Online Transfers?

If you have the IFSC Code BKID0005587 for the College Square branch of Bank Of India in Cuttack, you can easily go ahead with fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0005587. Transfers are processed in batches. Suitable for 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. Asks for the recipient's account details and Bank Of India IFSC Code BKID0005587.

Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for Bank Of India College Square in Cuttack, it may 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 College Square, 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 Cuttack manage online transfers as well as cheque clearances with ease.