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 Satpati branch in Mumbai, Mumbai, Maharashtra, 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 Mumbai or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0000088. 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, Satpati, Mumbai
Below in the table are the key details related to IFSC Code BKID0000088 of Bank Of India for its branch located in Mumbai, within the district of Mumbai in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0000088 |
| Branch | Satpati |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| Address | At Post Satpatitaluka Palghar |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Mumbai for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0000088 for the Satpati branch of Bank Of India plays an 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 Satpati, Mumbai, Maharashtra, are given a unique IFSC like BKID0000088 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Mumbai.
- 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 Mumbai and Mumbai.
- 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 Satpati 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 BKID0000088
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 Satpati in Mumbai.
For example, the IFSC Code BKID0000088 of Bank Of India for the Satpati branch includes these elements, identifying the bank and the branch location in Mumbai and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0000088 of Bank Of India for its Satpati branch located in Mumbai, 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 Mumbai and Mumbai, 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 Satpati or Mumbai to get the exact IFSC Code BKID0000088.
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 Mumbai, you'll get the correct details.
How to Use IFSC Code BKID0000088 for Online Transfers?
Once you have the IFSC Code BKID0000088 for the Satpati branch of Bank Of India in Mumbai, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0000088. 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 BKID0000088.
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 Satpati in Mumbai, 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 Satpati, 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 Mumbai manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0000088.
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 At Post Satpatitaluka Palghar located in Mumbai, Mumbai, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
