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 Union Bank Of India for its R.O.Goa branch in Panaji, Panaji, Goa, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Union Bank Of India located in Panaji or anywhere in Goa can transfer funds instantly by using the correct IFSC Code UBIN0556131. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Union Bank Of India, R.O.Goa, Panaji
The table below shows the main details of the IFSC Code UBIN0556131 for the Union Bank Of India branch in Panaji, which falls under the Panaji district in Goa.
| Particulars | Details |
|---|---|
| Bank | Union Bank Of India |
| IFSC Code | UBIN0556131 |
| Branch | R.O.Goa |
| City | Panaji |
| District | Panaji |
| State | Goa |
| Address | Nizmar Centre, 1 St Fr A B Road,Panaji Panaji Goa Pin-403001 |
These details help users in online banking and for businesses and individuals who use Union Bank Of India in Panaji for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code UBIN0556131 for the R.O.Goa branch of Union 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, including Union Bank Of India located in R.O.Goa, Panaji, Goa, is provided with a unique IFSC like UBIN0556131 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Union Bank Of India branch in Panaji.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Panaji and Panaji.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Goa and the rest of India and the IFSC Code ensures that transactions meant for Union Bank Of India in R.O.Goa do not get mixed with another location.
Format of the IFSC Code UBIN0556131
The format of the IFSC Code for banks, including Union Bank Of India, has an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Union 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 R.O.Goa in Panaji.
For example, the IFSC Code UBIN0556131 of Union Bank Of India for the R.O.Goa branch includes these elements, identifying the bank and the branch location in Panaji and Goa correctly.
How to Find IFSC Code for Union Bank Of India?
If you are trying to find the IFSC Code UBIN0556131 of Union Bank Of India for its R.O.Goa branch located in Panaji, the following methods can help:
Cheque Book
The cheque book issued by Union 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 Union Bank Of India branches in Panaji and Panaji, print the IFSC and MICR codes on the first page of your passbook.
Bank Website
Visit the official website of Union Bank Of India and navigate to the branch locator section. Search for R.O.Goa or Panaji to get the exact IFSC Code UBIN0556131.
Mobile Banking App
If you use Union 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 Union Bank Of India and Panaji, you'll get the correct details.
How to Use IFSC Code UBIN0556131 for Online Transfers?
If you have the IFSC Code UBIN0556131 for the R.O.Goa branch of Union Bank Of India in Panaji, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code UBIN0556131. 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 Union Bank Of India IFSC Code UBIN0556131.
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 Union Bank Of India R.O.Goa in Panaji, it may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Union Bank Of India in R.O.Goa, here are some ways to obtain it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Union Bank Of India website.
- Search the RBI portal.
Having both the IFSC and MICR codes makes it easy for account holders in Panaji to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is UBIN0556131.
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 Nizmar Centre, 1 St Fr A B Road,Panaji Panaji Goa Pin-403001 located in Panaji, Panaji, Goa.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.