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 Pune Service Branch branch in Pune, Pune, Maharashtra, 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 Pune or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0000550. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Pune Service Branch, Pune
Below in the table are the key details related to IFSC Code BKID0000550 of Bank Of India for its branch located in Pune, within the district of Pune in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0000550 |
| Branch | Pune Service Branch |
| City | Pune |
| District | Pune |
| State | Maharashtra |
| Address | 592 Sadashiv Peth Laxmi Roadpune Maharashtra Pin 411 030 |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Pune for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0000550 for the Pune Service Branch 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 Pune Service Branch, Pune, Maharashtra, are allotted a unique IFSC like BKID0000550 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Pune.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Pune and Pune.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Pune Service Branch reaches the right place, even though there are thousands of branches in Maharashtra and across India.
Format of the IFSC Code BKID0000550
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 Pune Service Branch in Pune.
For example, the IFSC Code BKID0000550 of Bank Of India for the Pune Service Branch branch has these elements, identifying the bank and the branch location in Pune and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
If you are looking for the IFSC Code BKID0000550 of Bank Of India for its Pune Service Branch branch located in Pune, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the banks, including Bank Of India branches in Pune and Pune, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
You can visit the official website of Bank Of India and look for the branch locator section, then search for Pune Service Branch or Pune to get the exact IFSC Code BKID0000550.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Pune, then it will provide you proper information.
How to Use IFSC Code BKID0000550 for Online Transfers?
If you have the IFSC Code BKID0000550 for the Pune Service Branch branch of Bank Of India in Pune, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0000550. 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 BKID0000550.
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 Pune Service Branch in Pune, it 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 Pune Service Branch, 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 Pune manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0000550.
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 592 Sadashiv Peth Laxmi Roadpune Maharashtra Pin 411 030 located in Pune, Pune, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
