What IFSC Means
IFSC is an 11-character branch code used in NEFT, RTGS, and IMPS payments. It identifies the destination bank branch for electronic transfers.
What MICR Means
MICR is a 9-digit code historically used for cheque clearing and branch routing in banking back-office systems.
When to Use Which
- Use IFSC for online transfers and beneficiary setup.
- Use MICR for cheque-related tasks and branch record matching where required.
- For digital money transfer, IFSC is the primary code.
Safety Checklist
- Confirm beneficiary name and account number before transfer.
- Verify IFSC from official bank channels for high-value payments.
- Run a low-value test transfer before large transactions.
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