IFSC Code of Bank Of India, Patto Plaza, Panjim, Goa- BKID0001029

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 Patto Plaza branch in Panjim, Panjim, 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 Panjim or anywhere in Goa can transfer funds instantly by using the correct IFSC Code BKID0001029. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.

Details of IFSC Code for Bank Of India, Patto Plaza, Panjim

The table below shows the main details of the IFSC Code BKID0001029 for the Bank Of India branch in Panjim, which falls under the Panjim district in Goa.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Panjim for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0001029 for the Patto Plaza 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 that is provided by the Reserve Bank of India. A unique IFSC like BKID0001029 is given to every bank branch, including Bank Of India located in Patto Plaza, Panjim, Goa, to make sure that online payments reach the right place.

The IFSC Code is important because:

• It uniquely identifies the Bank Of India branch in Panjim.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It avoids any kind of confusion between multiple branches of the same bank across different places like Panjim and Panjim.
• It removes errors in fund transfers and improves accuracy.
• It lets the sender banks validate and confirm branch details before they process the payments.

There are thousands of branches across Goa and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Patto Plaza doesn't end up at another location.

Format of the IFSC Code BKID0001029

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 Patto Plaza in Panjim.

For example, the IFSC Code BKID0001029 of Bank Of India for the Patto Plaza branch includes these elements, identifying the bank and the branch location in Panjim and Goa accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0001029 of Bank Of India for its Patto Plaza branch located in Panjim, 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 Panjim and Panjim, 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 Patto Plaza or Panjim to get the exact IFSC Code BKID0001029.

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 Panjim, you'll get the correct details.

How to Use IFSC Code BKID0001029 for Online Transfers?

Once you have the IFSC Code BKID0001029 for the Patto Plaza branch of Bank Of India in Panjim, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0001029. The transfer is completed in batches instead of instantly. It is useful for both 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 BKID0001029.

No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of India Patto Plaza in Panjim, your payment can get delayed or might not go through at all.

Finding the MICR Code

MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Patto Plaza, you can find it by any of the following ways:

• Check the bottom of your cheque leaf.
• Go to the first page of your passbook.
• Visit the official Bank Of India website.
• Search the RBI portal.

Having both IFSC and MICR codes helps account holders in Panjim manage online transfers as well as cheque clearances with ease.