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 Boi Payment System branch in Thane, 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 Thane or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID00VAN04. 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, Boi Payment System, Thane
The table below shows the main details of the IFSC Code BKID00VAN04 for the Bank Of India branch in Thane, which falls under the Mumbai district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID00VAN04 |
| Branch | Boi Payment System |
| City | Thane |
| District | Mumbai |
| State | Maharashtra |
| Address | Bkc Mumbai |
These details help users in online banking and for businesses and individuals who use Bank Of India in Thane for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID00VAN04 for the Boi Payment System branch of Bank Of India has a very 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 Boi Payment System, Thane, Maharashtra, are given a unique IFSC like BKID00VAN04 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Thane.
- 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 Thane 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 Boi Payment System 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 BKID00VAN04
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 Boi Payment System in Thane.
For example, the IFSC Code BKID00VAN04 of Bank Of India for the Boi Payment System branch includes these elements, identifying the bank and the branch location in Thane and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID00VAN04 of Bank Of India for its Boi Payment System branch located in Thane, 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 Thane and Mumbai, 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 Boi Payment System or Thane to get the exact IFSC Code BKID00VAN04.
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 Thane, you'll get the correct details.
How to Use IFSC Code BKID00VAN04 for Online Transfers?
Once you have the IFSC Code BKID00VAN04 for the Boi Payment System branch of Bank Of India in Thane, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID00VAN04. 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 BKID00VAN04.
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 Boi Payment System in Thane, 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 Boi Payment System, 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 Thane manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID00VAN04.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Bkc Mumbai located in Thane, Mumbai, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.