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 Madhepura branch in Madhepura, Madhepura, or Bihar, 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 Madhepura or anywhere in Bihar can transfer funds instantly by using the correct IFSC Code BKID0004588. 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, Madhepura, Madhepura
Here are the main details that are associated with the IFSC Code BKID0004588 of Bank Of India for its branch located in Madhepura, within the district of Madhepura in the state of Bihar.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0004588 |
| Branch | Madhepura |
| City | Madhepura |
| District | Madhepura |
| State | Bihar |
| Address | Near S Np M High Schoolmain Road Madhepura |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Madhepura for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0004588 for the Madhepura branch of Bank Of India is vital.
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 Madhepura, Madhepura, Bihar, are given a unique IFSC like BKID0004588 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Madhepura.
- 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 Madhepura and Madhepura.
- 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 Madhepura goes to the correct branch. This is important because Bank Of India has thousands of branches in Bihar and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0004588
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 Madhepura in Madhepura.
For example, the IFSC Code BKID0004588 of Bank Of India for the Madhepura branch includes these elements, identifying the bank and the branch location in Madhepura and Bihar accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0004588 of Bank Of India for its Madhepura branch located in Madhepura, the following methods can help you out:
Cheque Book
The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Madhepura and Madhepura, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and go to the branch locator section. Then search for Madhepura or Madhepura to find the exact IFSC Code BKID0004588.
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 maintains an updated database of all IFSC codes. Searching for Bank Of India and Madhepura will provide accurate information.
How to Use IFSC Code BKID0004588 for Online Transfers?
Once you have the IFSC Code BKID0004588 for the Madhepura branch of Bank Of India in Madhepura, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0004588. Transfers are processed in batches. This is 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. Requires the recipient's account details and Bank Of India IFSC Code BKID0004588.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Bank Of India Madhepura in Madhepura may 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 Madhepura, 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 Madhepura manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0004588.
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 Near S Np M High Schoolmain Road Madhepura located in Madhepura, Madhepura, Bihar.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.