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Find Canara Bank IFSC & MICR Code

Canara Bank IFSC Code

The country's central bank (RBI) has specified three ways in which we can remit money. These include the popular NEFT, RTGS and IMPS. However, to undertake these transactions, we must have the IFSC Code allotted by RBI to each bank and the specified branch.

The Canara Bank IFSC Code is an 11-digit alphanumeric code having special 4 characters, 'CNRB', stand for the name of the bank, the fifth character is always 'zero' for future use and the final six characters specify the 'exact branch address'.

How to Search for Canara Bank IFSC Codes?

If you are searching for the IFSC code of your home branch, you can use two mechanisms to search. In the offline mode you will find it written on your cheque book, which has been given to you by the Canara Bank branch. If you are looking for online IFSC Code of Canara Bank you can find here in Goodreturns.

State Wise Canara Bank IFSC & MICR Code

About Canara Bank

Rapid growth

From small beginnings in the early 1900s, Ammembal Subba Rao Pai, founded Canara Bank in 1906. In its 110 years span, Canara Bank has grown manifold and is among the top government owned banks in the country.

Today, it has branches that span the entire country and criss-cross, all the states in the country.

Major milestones for Canara Bank

In the last many years, the bank has conquered many milestones. In 1992-93 the bank became the first Bank to articulate and adopt the directive principles of “Good Banking”.

It was also the first bank to open a 'Mahila Banking Branch' in Bangalore, for catering exclusively to the financial requirements of women clientele.

By 2004-2005, 100 per cent computerization was achieved by Canara Bank. By the end of 2011-12, the total number of branches reached 3600, which was a misletone for the bank.

In 2012-13 Canara Bank paid the highest dividend of 130 per cent, which was another feet for the bank.

In 2014-15, the bank crossed Rs 8 lakh crore in total business and is looking forward to doing even more in the years to come.

Since the bank has grown rapidly in the last few years, there are many branches of the bank. We have provided you with the IFSC codes for Canara Bank branches, so you can send and receive money through NEFT and RTGS.

Do check goodreturns.in for all the codes of Canara Bank.

Structure of Canara Bank IFSC Code

The IFSC is allocated in such a way that a unique IFSC is granted to each bank branch of Canara Bank.

The fifth digit '0' is one thing that is similar in all the IFSC code. The first four characters represent a bank, and the last six characters represent a branch. For instance: Canara Bank IFSC Code of Canara Bank Goregaon West, Mumbai is- CNRB0000227 whereby ‘CNRB’ stands for the name of the bank, and 0000227 is stands for the branch code of the bank i.e. Goregaon West, Mumbai.

What is the use of Canara Bank IFSC Code?

The norm for carrying out transactions around the country is established by the IFSC. It helps the remitter to take out the transfer of funds with flexibility and ease as it transfers the money to the Canara Bank Branch of preference. IFSC has rendered fund transfer a smooth and safe operation, be it the standard mode or online form of fund transfer. In addition, the IFSC also helps to avoid any breakdown of security since the RBI controls all operations through IFSC.

What is the role of IFSC Code for different types of fund transfer mode?      

The IFSC allows the transfer of funds by acknowledging the bank branch of the sender and the recipient. Based on their utility, one can select any of the following types of fund transfer.

NEFT

  • It stands for National Electronic Fund Transfer
  • It is a kind of fund transfer mechanism that exists on the basis of deferred net settlement.
  • NEFT has been functioning 24 * 7 since December 2020, also on bank holidays.

RTGS

  • It stands for Real-Time Gross Settlement
  • It is a payment method in which real-time fund processing is done.
  • RTGS has a particular operating timeframe set by a specific bank.

IMPS

  • It stands for Immediate Payment system
  • IMPS is India's most streamlined fund transfer mechanism
  • IMPS is a customer-driven service that can be used 24 * 7 according to the customer’s requirement and preference

Process to find Canara Bank IFSC and MICR Code Online

The IFSC and MICR code of Canara Bank can be found on the cheque book issued by the bank or on the website of the bank. With the exception of this, this 11-digit key can also be used on a variety of third-party financial portals. For quicker clearance of cheques, the Magnetic Ink Character Recognition code, also known as MICR, is used. Goodreturns.in is among the top financial websites of India where you can find IFSC code of all banks and their respective branches. Apart from the IFSC code, you will also get the bank address, MICR code and phone number. The steps involved in the hunt for the Canara Bank IFSC and MICR code is provided below: 

  • Visit Goodreturns.in and select ‘Banking’ from the top bar of the page
  • Under the drop-down menu of ‘Banking’ click on ‘IFSC Code’
  • Now select your bank, state, city and branch from the drop-down list and then click on ‘Find Bank’ option
  • You will immediately get the IFSC code, along with the MICR code, address and phone number of the branch concerned, after selecting the alternatives. 

Ways to find Canara Bank IFSC Code?

Customers can make use of the options mentioned below to locate the Canara Bank IFSC. 

Via Canara Bank Cheque Book- Canara Bank account holders can locate their branch's IFSC code by searching at a Canara Bank cheque book provided by the bank. The IFSC at the top of the page and the MICR code at the bottom of the page are included in the cheque.

Via Canara Bank Passbook- The generic bank account details of an account holder are listed on the front page of the passbook. These primary details include the account number, the address of the account holder and the IFSC code of the associated branch of the bank. Hence, when hunting for an IFSC, a passbook is convenient.

Via Canara Bank Mobile Banking App- An alternative to find for the correct IFSC code of your bank branch is also offered by Canara Bank Mobile Banking app.

Via Canara Bank Net Banking Service- Canara Bank serves its customers with the Net banking service to take benefits of various online banking services that they can enjoy from their convenience at home or in the office. Consequently, an account holder can locate the IFSC code of his / her respective branch using the Net Banking service of the bank.     

How Can I Transfer Fund To The Beneficiary Using Canara Bank NEFT and RTGS Facility?

To enhance the safe and hassle-free transfer of funds, Canara Bank uses NEFT and RTGS to provide inter-bank fund transfer facilities through CANSPEED. Both of these services make use of an IFSC code which the sender and the recipient of the funds need to provide.

NEFT

National Electronic Fund Transfer i.e. NEFT is another means of rendering electronic transfers if the payment directives between banks are transferred on a Deferred Net Settlement (DNS) basis at predetermined times. These transfers do not have a minimum or maximum cap and enable customers, with the exception of national holidays and Sundays, to transfer funds on all days. A customer must have the following information in order to facilitate an NEFT transaction:

  • Specifics of the beneficiary such as His / Her name, bank branch name
  • Account number and account type of the beneficiary
  • IFSC Code of the bank branch of the beneficiary

Charges applicable for all outward transactions through NEFT are listed below:

  • Up to Rs 10,000- Rs 2 per transaction
  • Rs 10,001 – Rs 1 lakh- Rs 5 per transaction
  • Rs 1 lakh – Rs 2 lakhs- Rs 15 per transaction
  • Above Rs 2 lakhs- Rs 25 per transaction   

RTGS

The electronic payment service that runs on a real-time basis is RTGS or Real Time Gross Settlement. All payment transactions are delivered on a real-time basis here, i.e. as soon as it is received and one at a time, requests are carried out. There is, thus, no delay or holding time , making it a much smoother operation. Rs 2 lakh is the minimum transaction cap for RTGS transactions. Across all days, excluding national holidays and Sundays, consumers can use this service. A user must have the following information in order to facilitate a NEFT transaction:

  • Name of the beneficiary
  • Amount to be transferred to the receiver
  • Account number of the receiver
  • Name of the bank of the receiver
  • Bank branch of the receiver
  • IFSC Code of the bank branch of the receiver
  • Account type of the receiver

Charges required to use RTGS fund transfer facility

  • For an amount between Rs 2 lakh – Rs 5 lakh: Rs 25, Rs 26 and Rs 30
  • For the amount above Rs 5 lakh: Rs 50, Rs 51 and Rs 55

Canara Bank MICR Code

The MICR Code is a specific 9-digit serial code provided to all banks active in the Electronic Clearing System by the RBI. In reality, MICR or Magnetic Ink Character Recognition is a method used on the cheque slip to print these codes. The same is reflected by the magnetic ink bar on the bottom of the cheque slip. During the fund transfer process, the MICR Code recognises a bank branch and serves as a security bar code to secure transfers.

Instances of Canara Bank MICR Code

  • MICR Code of Manipur, Imphal- 795015002
  • MICR Code of Aizwal, Mizoram- 796015002

Platforms to find Canara Bank MICR Code

The following are some of the ways to find Canara Bank's MICR Code

Canara Bank Cheque Leaf: If we check at the Canara Bank cheque leaf, it can be found that the lower part of the leaf includes the MICR Code.

Canara Bank Passbook: When a customer starts a savings account, the banks issue a passbook to him or her. There are certain banking specifics in the passbook, along with the IFSC and the MICR Code.

Digital Banking Platform: Mobile banking has made banking incredibly simple and transparent. It is simple to log into any Canara banking app and check for the MICR code. Optionally, one can choose for the Canara Bank Net Banking portal for the same.

Canara Bank SWIFT Code

For Canara Bank, the SWIFT code is CNRBINBBXXX. Please keep in mind that different SWIFT codes are used by Canara Bank for different forms of banking facilities or branches. To figure out which one to use, please consult with your recipient or with the bank directly. In overseas money transfers, SWIFT / BIC codes are used to distinguish individual banks and branches, making sure that your money goes to the right destination. Banks use these codes to manage overseas wire transfers and communications. All SWIFT codes are characterised by 8 or 11 characters. An 11 digit code corresponds to a particular bank branch, whereas the head office of the bank corresponds to an 8 digit code (or one ending in 'XXX'). The Society for Worldwide Interbank Financial Telecommunication (SWIFT) manages SWIFT code approvals. BIC, which stands for Bank Identifier Code, is also used synonymously with the term SWIFT. The resources here are given solely for informational needs. While every attempt is taken to include reliable data, users must agree that with regard to its accuracy, this website takes no obligation accordingly. The appropriate bank account details can only be confirmed by your bank. We at Goodreturns.in advise that you call your bank first if you are making a significant or time-critical transaction.      

Canara Bank - IMPS

Canara Bank offers IMPS fund transfer facility for those who have accessed mobile banking facilities via the CANMOBILE app or have enabled internet banking services for their account. IMPS is among the fastest and secure means of fund transfer which allows users to make their transaction complete in a matter of minutes. But you must be mindful of the Canara Bank IMPS charges before transferring funds which you have to pay on every transaction that you make using IMPS. Let's check the charges for Canara Bank IMPS below.

Canara Bank IMPS Charges

Canara Bank IMPS Charges (per transaction) are applicable as follows, based on the amount you transfer:

  • For up to Rs.5000: No Charges applied
  • Above Rs.5000 up to Rs.25000: Rs.5
  • Above Rs.25000 up to Rs. 100000: Rs.10
  • Above Rs.100000 up to Rs.200000: Rs.15

Benefits of Canara Bank IMPS

For the following reasons, IMPS services are highly beneficial:

  • It leaves very little space for a transaction to fail by using the unique MMID and linked mobile number.
  • At any time of the day, you have the convenience of transferring money without any time limits or bank holidays restrictions
  • Within 30 minutes of a successful settlement, the balance is transferred to the recipient.
  • IMPS is among the fastest and safest mode of fund transfer using which you can transfer a maximum amount of Rs 2 lakh as a customer of Canara Bank.

Process To Register For Canara Bank Mobile Banking

  • Open the CANMOBILE App and select New Registration option 
  • Now enter your registered mobile number with the bank on the required space in order to generate Username and MPIN
  • Now sign in to your account using User ID and default MPIN in order to start the registration process
  • Now accept the terms & conditions and verify your mobile number through Canara Bank Mobile Banking application 
  • An OTP will be generated on your mobile number, enter the generated OTP on the required space and verify it
  • Now create a new MPIN and then you will be redirected to a new page where you need to enter the details of your ATM Card such as ATM Card Number, Expiry Date & ATM Card PIN.
  • Once your ATM Card is verified a confirmation message will be delivered to your mobile number

Specifics required to fill Canara Bank RTGS Form

Canara Bank facilitates digital banking and, for this cause, a RTGS form of Canara Bank is available in a format that is easy to use. The sender must have the following information to deal with the RTGS transaction. It is important to fill out all this information in the Canara Bank RTGS form.

  • Beneficiary’s bank name, IFSC code and account number.
  • Beneficiary’s name and mobile number.
  • Cheque number if you need to transfer amount via cheque
  • Account number if you need to transfer amount from your bank account
  • Amount to be remitted

Key takeaways related to Canara Bank RTGS

  • For all working days, the RTGS money transfer is settled by Canara Bank.
  • The schedule is typically from 8 am to 4.30 pm.
  • Once the money is transferred in the account of the beneficiary, Canara Bank receives a message from the Reserve Bank of India, which in turn delivers the successful message of transaction to the sender.
  • If the sender feels that the transaction is overdue (crossed 30 minutes) he / she can report to the customer service of the bank or can also directly contact the RBI grievance center.
  • Canara Bank's NEFT customer facilitation centre is now reviewing concerns stemming via RTGS transactions.    

Canara Bank NEFT Form

A quick fund transfer method that is available nationally is NEFT or National Electronic Fund Transfer. This feature enables online and offline transfers to be rendered by customers to directly transfer money to the bank account of the payee. What you need to make sure is that the beneficiary account is maintained in an NEFT Scheme participating banking institution. It is a smart decision to introduce your NEFT transactions offline by filling out an application form once your net banking or mobile banking account has been triggered. At your respective Canara Bank branch, you can get this application form or else you can download the form in a PDF format by visiting the official site of Canara Bank. In the form, you need to specify the below listed details of the payee in order to facilitate the transaction.

  • Name of the payee
  • Account number of the payee
  • Account type of the payee
  • IFSC Code of the payee’s bank branch
  • Name of the remitter
  • Account number of the remitter
  • Account type of the remitter
  • Mobile number of the remitter
  • Amount to be remitted

How to initiate the NEFT fund transfer service using Canara Bank mobile or net banking?

This is the most common choice for making an NEFT transaction. In order to make fund transfer, you need to sign in to your net banking or mobile account and follow the below listed steps:

  • Once you sign in to your account click on the “Funds Transfer” option and select NEFT
  • Now click on Add/ Manage Beneficiary and then enter the required details of the payee i.e. name, account number, and IFSC Code in order to add the beneficiary.
  • Now enter the amount that you need to transfer to the payee and select your account from which you wish to make the transfer.
  • Verify the details and click on ‘Confirm’
  • Once the transaction is successful you will get a confirmation message on your registered mobile number or email id.  

Canara Bank NEFT Charges

NEFT transfers are subject to a charge per transaction carried out by you. All NEFT inward transfers are cost-free and do not impose any of the following fees.

  • For an amount up to Rs.10000: Rs. 2.50 per transaction
  • Rs. 10001- Rs.1 lakh: Rs.5 per transaction
  • Rs.1 lakh to Rs 2 lakh: Rs.15 per transaction
  • Above Rs.2 lakh: Rs. 25 per transaction

Note: Standard GST applies to the above-mentioned charges

Canara Bank NEFT Timings

You need to be sure everything is made within the NEFT timings, while you are doing an online transaction or an offline transaction. According to the Reserve Bank of India, NEFT timings are as: From Monday to Saturday – 8:00 am to 7:00 pm.

It is necessary to remember that on 2nd and 4th Saturdays, Sundays or any official bank holidays announced, transactions cannot be rendered.

Key takeaways of Canara Bank NEFT

  • A convenient option for allowing transfers of funds on the go i.e. 24x7x365
  • Trustworthy alternative as it is regulated and controlled by RBI
  • No minimum cap or upper bound on the amount you can transfer per day through NEFT.
  • Compared to other fund transfer options which are accessible, the charges are extremely minimal.

Canara Bank MMID

In recent years, developments in technology have made it possible for us to use tools in a far more effective and comprehensive way than never ever. This advancement has also been seen in the banking industry, where different activities, historically confined to the branch, have now been digitalized in a way that enables an individual to access banking services using his or her mobile without compromising the comfort zone. NEFT, RTGS and IMPS are typically the most popular facilities that are used by an individual to make a payment to another party. Unlike NEFT and RTGS IMPS is usually perceived to be more comfortable and acceptable for a regular holder of a bank account. But let’s read about the benefits of IMPS which makes it the most ideal option for the customers of today’s generation.

  • Online Transaction Services, i.e. IMPS is open at the comfort of your home or workplace, which ensures that you no longer have to wait in a line to make a deposit or transfer to other’s account.
  • The simplicity of digital transactions arises mostly when a customer is willing to do the same, including on a holiday or at any time throughout the day.

Importance of MMID for using IMPS service

Immediate Payment Service is termed in short as IMPS. According to its term, this service makes it easy for a customer, at any time of the day and even on a holiday, to transfer an amount of money into another person's bank account just in a matter of seconds i.e. instantly. This renders IMPS one of India's most preferred methods of electronic transaction. That being said, you need to have an MMID code to allow safe use of the service with your mobile number. This is valid not only for the sender but also for the recipient who will get funds transferred by the sender. If a customer wishes to transfer money from his account to another it is necessary for him or her to generate an MMID code. Similarly, if he or she has to have the money from the sender, it is necessary for the recipient to generate an MMID in order to make a transfer. An MMID is a seven-digit code that is issued upon request by the bank to the customers. After typing CANGEMMID, you can request Canara Bank's MMID by sending a text message and entering the user ID and MPIN and sending it to 56070600 respectively. The customer will be able to access the MMID code in order to transfer and receive money from any individual keeping a bank account after sending such SMS.       

 

 

 


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