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 HDFC Bank IFSC Code is an 11-digit alphanumeric code having special 4 characters, 'HDFC', 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'.
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 HDFC Bank branch. If you are looking for online IFSC Code of HDFC Bank you can find here in Goodreturns.
HDFC Bank has received plenty of accolades in the past, from being the most valuable bank in India, to being the most valuable brand in India.
It was one of the first banks to have received an in principle approval by the Reserve Bank of India way bank in 1994.
This was after the liberalization of the banking sector by the government, way back in 1994. The main promoter is the prestigious, Housing Development Finance Corporation.
HDFC Bank has over the years also growth through mergers. In a milestone transaction in the Indian banking industry, Times Bank Limited was merged with HDFC Bank Ltd., in the year 2000.
Never before had two private sector banks merged until than. In 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was formally approved by Reserve Bank of India.
HDFC Bank receives a number of awards each year. Among them include the KPMG India's Best Banks 2015 Awards, Bank of the year and Best Digital Banking Initiative awards, NABARD award etc in the year 2016. The list for other years is rather long.
HDFC Bank has a huge branch network and is close on the heels of private sector banking peer – ICICI Bank.
The bank had a network of 4281 branches as of December 31, 2015. This was spread across 2,505 cities.
We have provided the IFSC Codes of HDFC Bank, which should make life easier for individuals transferring money through NEFT and RTGS.
Searchers of the IFSC or MICR code for the HDFC Bank can find it online on a variety of third-party websites.
The same information can also be found on the website of the bank. MICR is commonly given on the lower half of the cheque issued by the bank to you and MICR is stand for Magnetic Ink Character Recognition code. This code is utilized to clear cheques easily and without any bugs. In addition, both the IFSC and MICR code is recorded on the cheque book issued by your bank to you. This info can also be sought by an individual on the Goodreturns.in website. In addition to the HDFC Bank, an individual can find the IFSC and MICR code of all the banks based on his / her location. The measures to check the 11-digit key are as follows:
Whether it is offline or online banking customers, some essential beneficiary information such as the name of the account holder, account number, branch address and, most notably, the IFSC must be provided. Let us now find the best ways to find HDFC Bank IFSC code of your respective branch.
But apart from the above-listed ways, as an HDFC Bank’s customer, you can also find the IFSC Code through the below covered offline ways.
Through HDFC Cheque Book- It can be seen when we look at the HDFC Bank cheque book that the IFSC is written on the top portion of the cheque book page.
Through HDFC passbook- The bank provides a booklet termed as passbook at the time of opening an account with HDFC Bank. On the front page of the passbook, you can find the IFSC of your branch stated.
Through Net Banking facility of HDFC Bank- Banking operations have grown a lot smoother with the increasing movement in online banking. Only sign in to the platforms for online banking, i.e. HDFC Bank Mobile Banking App, and you can find the IFSC and MICR code of your branch under ‘My Account’ section.
Official website of RBI- Correspond to the official website of the Reserve Bank of India as another easy way to figure out your IFSC code. Please go to the 'IFSC codes' section. Here, if you know the name of your branch, it is a plus. From the drop-down list, you can pick your bank and enter the name of your branch. For your selected branch the site will show you the IFSC and MICR code. Don't fret if you don't know all the details of your branch. The RBI provides a summary of IFSC codes for all the branches of the bank once you select your bank. Your branch can be searched and the relevant IFSC code can be found by visiting the official website of RBI.
Bank’s Website i.e. HDFC Bank- On its website, nearly all banks have Branch Locator services accessible. You must access the bank's official website and search for the Branch Locator feature. By clicking on that tool you can find the appropriate IFSC and MICR code of your respective branch. You can access the bank's official website to find the address and information of the bank using the IFSC Code. Individuals also can make a quick IFSC Code Google search and get the address of the branch to which it belongs. If, when making an online payment, you type an erroneous IFSC code, the funds will be transferred back to your account and if the specific IFSC code the receiver’s bank branch does not fit with the bank’s database, this type of issue undoubtedly occurs.
HDFC Bank provides diverse aspects, not only to other HDFC Bank branches but also to every other bank branch, to allow trouble-free and safe fund transfers. To transfer money not only to other HDFC accounts but to accounts kept in any other branch, customers can use NEFT, RTGS and IMPS.
HDFC launches an electronic fund transfer service, e-Monies National Electronic Funds Transfer, which facilitates the simple, hassle-free and seamless transfer of funds. There is no maximum transaction cap for NEFT transactions made at the branch. However, the daily cap has been set for net banking transactions from Rs 1 and up to Rs 10 lakh. The bank implements a fixed schedule of timings for NEFT transactions made electronically or at the branch.
Timing to use HDFC NEFT Fund Transfer
Below are the transaction charges for NEFT transactions as defined by the bank.
Another quick form of money transfer where the transactions are made in real time is RTGS or Real Time Gross Settlement. With the exclusion of inter-bank or clearing house settlement complications, RTGS settlements have shorter settlement times. These transfers are often not confined to India's regional borders. For transactions below Rs 2 lakh to Rs 5 lakh and Rs 50 (per transaction), HDFC charges a fee of Rs 25 (per transaction) for all transactions above Rs 5 lakh. For transactions made through the branch, there are no transaction limits, but for net banking transactions, the bank has set regular restrictions of Rs 2 lakh and up to Rs 10 lakh. For branch and net banking, the timings for RTGS transactions are covered below.
Another immediate inter-bank electronic fund transfer facility, provided by HDFC Bank, is IMPS (Immediate Payment Service). With IMPS, customers can send or receive funds quickly, not only on weekdays, but also on Sundays and even bank holidays. As the title implies, the money is transferred to the receiver's account instantly through IMPS transfers. Charges are as follows for IMPS transactions:
A MICR Code stands for Magnetic Ink Character Recognition and is a 9-digit bar code. Usually, Magnetic Ink Character Recognition is a process used on cheques to print these bar codes. The MICR Code feature is to process the cheques easily and transfer the payment to the correct branch. It also serves as a distinctive branch identifier, in addition for cheque clearance.
Instances of HDFC Bank MICR Code
How can you find HDFC Bank MICR Code?
By considering the below ways you can find the HDFC Bank MICR Code
Bank Cheque Book: If you check at the HDFC Bank cheque book, you can see that the MICR code is written right next to the cheque number on the cheque page at the bottom of the page.
Passbook: The banks provide a handbook called the passbook at the time of opening an account with HDFC Bank. The MICR of your branch can be found cited in the passbook.
Online Banking: Banking services have succeeded in getting a lot smoother with the growing trend in online banking. Through using the 'HDFC Bank net banking and HDFC Bank mobile banking service, one can conveniently get the appropriate IFSC and MICR code of his or her respective branch.
On a 24/7 basis, the Immediate Payment Service (IMPS) is open to all HDFC customers. IMPS enables customers to render quick, real-time transactions across multiple platforms, such as mobile banking or online banking. A customer of HDFC Bank can send and receive money to someone with an IMPS-enabled bank account and even to the customers of HDFC bank. IMPS, introduced by the National Payments Corporation of India (NPCI), is an electronic fund transfer system. All existing customers will have HDFC IMPS services accessible. Customers who use net banking or mobile banking service of HDFC Bank can use IMPS in order to make fund transfer.
The step-wise method of transferring money through IMPS using multiple channels such as MobileBanking and USSD are as follows:
Via Mobile Banking (For all Android devices, iPhone and tablets)
Via Mobile Banking for Blackberry users
Via Mobile Banking using iPhone app
Through USSD-Using IFSC, Mobile number, Account number or MMID
Specifics required of the beneficiary for HDFC Bank IMPS
A huge extent of digital technology and accelerated processing of practically everything around us characterises the modern period. There was a period when, according to red-tapism and complexity, matters relating to government institutions and specific procedures were considered to consume a lot of time and effort from an individual. But with the progression over time, that being said, modern technologies and improvements have sunk into the system, making it possible for people to perform transactions, make payments and receive funds in a digital manner. It is just a matter of time for the whole economy to come under the proper scope of digital technology to reap the benefits of instantaneous transactions for citizens all over India. But since digital transformation has expressed itself to a large degree in most urban areas, India's rural areas have not yet benefited to a significant extent from the advantages of digital technology.
In the aftermath of digitisation, NEFT and IMPS are one of the most common payment systems that have taken a sharp rise to execute even the small banking transactions and fund transfer. Such conditions, which until some ages later were almost unimaginable and obscure to most people, are now has become the most preferred fund transfer option among the individuals of our nation.
IMPS are progressing to Immediate Payment. Like NEFT, IMPS also has a massive proportion of enticing transaction functionality, making it a service that is appealing for ordinary folk. However, it’s almost 24*7 availability is the one attribute that distinguishes IMPS from any other form of transaction. As you might already be informed, NEFT and RTGS facilities can be accessed at any time of the day but only defined and allocated time slots are used for the specific transfer of funds through such services. That being said, as is the custom with IMPS, at any time of the day, one can make a fund transfer and anticipate the funds to be transferred immediately. The transfer of money is seamless from one account to another, which is why it is considered an instant payment process. Also, during the night, on a Sunday and even on a bank holiday, such an immediate transfer can exist. Hence, the option of IMPS is better for anyone who needs to transfer money on an immediate basis for some reason. Like most other facilities that reside today, it is possible to transfer funds via IMPS through a computer or a mobile phone, with internet allowed on it. Also unlike NEFT, in order to allow the transfer, one does not need to incorporate another user as a payee into their account. It is possible to make transactions through IMPS directly by providing the bank account number and IFSC code. This can also be achieved by identifying with the other person a phone number and unique MMID number. In addition, to generate an MMID, it is important to log in to your online bank account or net banking account and also to contact a bank representative directly.
How to make fund transfer through IMPS?
Just like many other facilities that exist today it is possible to transfer funds through IMPS via a computer or a mobile phone, with internet facilities enabled on it. Also with exception of NEFT, in order to allow the transfer, one does not need to incorporate another individual as a payee into their account. It is possible to make transfers via IMPs directly by accessing the bank account number and IFSC code. Not only this, you can even initiate fund transfer vis IMPS using mobile number and unique MMID number of the other party. In order to generate an MMID, it is necessary to log in to your online banking account or net banking account and even to call a bank agent directly.
Charges applicable on IMPS transactions
Certain IMPS charges at the HDFC bank are also applicable, like any other method of transaction. The following are the charges to use IMPS service:
IMPS or Immediate Payment Service is a fast and safe electronic transfer mechanism of electronic funds that have benefited a large proportion of India's population. This method of fund transfer allows the transfer of cash from the bank to bank on a real-time and immediate basis. One of the prominent private banks providing the IMPS method is HDFC. HDFC enables its customers to use this service across its channels through net banking and mobile banking. What is it that makes IMPS so effective? Firstly, within the 24 hour period, the person can access the transfer of funds at any time. Secondly, you can transfer money to a beneficiary of any bank that comes under the IMPS active category with the help of IMPS.
Eligibility required to use HDFC IMPS service
It is necessary to remember that all HDFC bank customers with this banking organisation handling an account can use IMPS for fund transfer facilities. To successfully make IMPS transactions, it is strictly necessary that the mobile number of the person needs to be registered with the bank.
Key benefits of HDFC Bank IMPS
It is recognized that HDFC handles its customers in the most relaxed way. Below are some of the benefits of HDFC Bank IMPS that you need to consider:
For the IMPS transactions provided by HDFC Bank, there are a range of methods through which you can generate MMID, which are as follows:
Via SMS: Type MMID and send it to 5676712.
Via mobile banking
Via net banking
Via Customer care service
It is necessary to remember that all HDFC bank customers with this banking organisation handling an account can use IMPS for fund transfer facilities. To successfully make IMPS transactions, it is entirely necessary that the mobile number of the person needs to be registered with the bank. Practically, the Mobile Money Identifier or MMID is a seven-digit unique number that is given by the bank after the registration of the mobile banking service is completed. It is necessary for both the sender and the receiver to have MMID HDFC in place to process the transfer of interbank funds using the MMID code and mobile number.
Key takeaways of HDFC IMPS service
It is recognized that HDFC handles its customers in the most relaxed way. Here are some of the functions that need to be learned in relation to the HDFC IMPS service:
The HDFC credit card IFSC Code is an 11-digit alphanumeric code used by national electronic funds transfer to settle unpaid credit card bills via online banking (NEFT). This can be achieved by adding, as a recipient, a credit card. For instance, the IFSC code for an HDFC credit card is HDFC0000128. Here the first 4 'HDFC' characters are indicative of the bank's name and the 5th '0' character is kept separate for potential use. The last 6 digits'000128 'generally signifies the bank's branch that recognizes credit card bill payments. This facility is ideal for those who have a credit card but do not have an HDFC savings account in order to make credit card bill payments from any bank account. Preferably, this code will be the same for all bank credit card users.
Searching for an IFSC HDFC credit card code is a very quick and fast operation. This data is available online and on numerous websites. To get the exact code, one can also call the bank concerned directly. It is really important to use the correct IFSC code while allowing bill payments, as entering an incorrect one will lead to problems.
The HDFC credit card IFSC Code should be known to customers who want to settle their credit card bills via NEFT. While transferring funds from one bank account to another, the code is needed. IFSC means Indian Financial System Code, which comes with an 11-digit code with a blend of alphabets and numbers. Each and every branch of all banks in India is defined by the code. Customers must have the IFSC code of the branch in which they want to transfer funds using NEFT/RTGS/IMPS. If they are planning to pay their HDFC Credit Card bills via NEFT, customers will require IFSC code. The steps required for paying the bills are:
HDFC Bank provides its customers a wide spectrum of net banking options, including both financial and non-financial activities. However, not everyone is acquainted with carrying out net banking transactions with confidence. In this section, we will explore how to transfer funds to other bank accounts from HDFC internet banking. There are multiple strategies that have arisen through this revolutionary technical change towards digital payment and fund transfer processes online. To make payments easy and straightforward, all merchant portals, utility bill payment services, and different product or service providers provide their deposit or existing bank accounts registered with HDFC payment platforms. There are various wallets, payment gateways, and so on. that are also compatible with the online portal of HDFC Bank that provides alternatives to easily transfer money to other bank accounts. That being said, the applicable approach proposed by HDFC Bank must be used on the basis of the essence of the fund transfer. In general, there may be several situations in which one person may like to transfer funds, but we would just take into consideration the key categories and payment systems.
In the account holder HDFC Bank panel, payments made against any shopping bills, energy bills, or any other goods or services are configured and the required choice can be selected and payments made immediately. DirectPay, BillPay, InstaPay, Net Safe and so on are very useful to account holders for all such advantages. Using payment services such as PayZapp, SmartHub and Samsung Pay, transfers can be made to other bank accounts as well.
Third Party Transfers: Let us just briefly discuss the alternatives offered by HDFC Bank for Fund Transfer. One can sign in to the online dashboard of his/her HDFC Bank Account and select the method of fund transfer he/she needs to use. IMPS, RTGS, NEFT, IMPS P2P (Mobile Banking), and transfer to eCMS Virtual Accounts are the options offered by the bank. In particular, this refers to transfers of funds within India. In short, let's briefly grasp each of these major fund transfer facilities:
NEFT: National Electronic Funds Transfer is officially a country-wide payment system. Anyone who has an HDFC bank account can transfer funds from their account to a person anywhere in India who has an approved bank account with any bank at a branch operating in this scheme in this payment service system. For such transactions, the bank generates some fees to provide the customer with benefits.