FAQs
MICR, expanded as Magnetic Ink Character Recognition Code, is usually printed on the bottom half of the cheque leaf. This is used to clear cheques in a faster and error-free manner. Apart from this, both the keys are printed on the cheque leaf that is issued by the bank.
What is the MICR code of HDFC0000060? ›
IFSC code of hdfc bank located in FORT-400001, MAHARASHTRA is HDFC0000060 and MICR code is 400240015.
What is the first 4 digits of MICR code? ›
Difference between IFSC Code, MICR Code and Swift Code
| IFSC Code | MICR Code |
|---|
| The first four characters indicate the name of the bank. | The first three digits represents the city code where the bank branch is located. |
| Last 6 digits represent the bank location. | Last three digits indicate the bank branch code. |
4 more rowsThe first four letters denote the bank, which is HDFC, followed by the fifth character which is zero and the remaining six characters which denote the exact branch address. Similarly, Vasant Vihar, New Delhi branch code is HDFC0000011, and Greater Kailash, New Delhi branch code is HDFC0000027.
What is the 9 digit MICR code on a cheque? ›
“Magnetic Ink Character Recognition” (MICR) is a technology that uses a 9-digit code printed at the bottom of a cheque to quickly and accurately identify and process it. In addition to speeding up the processing of cheques, MICR has other features such as: MICR is located at the bottom of the cheque.
What is MICR code in bank account? ›
Key Takeaways. MICR Code full form is Magnetic Ink Character Recognition. It is a unique nine-digit code to identify a bank and branch participating in the ECS Credit scheme. The RBI assigns every bank branch a unique MICR Code.
Is bank branch code and MICR code same? ›
Branch Code vs MICR Code
The main difference between MICR and branch code is the MICR is used for the processing of cheques while branch code is only used to identify the concerned branch.
Is MICR code the same as branch code? ›
IFSC code is an eleven-digit code whereas MICR code is a nine-digit code. IFSC code denotes only the bank code and branch code. Whereas, MICR denotes the pin code, bank code, and the branch code. IFSC code is endemic i.e. it is used only in India.
Is MICR a Swift code? ›
Is Swift code and MICR code same? Swift codes, or Society for Worldwide Interbank Financial Telecommunication codes, are different from MICR (Magnetic Ink Character Recognition) codes. A Swift code, also known as a Bank Identifier Code (BIC), is a unique identifier for a particular bank used worldwide.
How to know MICR code? ›
Magnetic Ink Character Recognition (MICR) is a 9-digit code that helps identify a particular bank branch that is part of the Electronic Clearing System (ECS). This code can be found on the cheque leaf that is issued by the bank and is generally printed on the passbook that is issued to the account holder.
Format of the MICR Code
The MICR code consists of 9-digit and the first three-digit indicate the city code. Further, the next three-digit signifies the bank code. Lastly, the final three-digit represent the branch code. Check this example: The MICR code of one of the Chennai SBI branches may represent 600002025.
What is the difference between MICR code and account number? ›
Is the MICR code the same as the bank account number? No, the MICR code is typically different from the bank account number. The MICR code includes the bank account number, cheque number, and bank code, while the bank account number is a unique identification number assigned to a specific bank account.
Where can I find HDFC Bank identification code? ›
The Customer ID is a unique identification number given to every Customer holding a Savings/ Current Account with HDFC Bank. To retrieve your Customer ID online in 3 simple steps, go to NetBanking and click on the "?" icon. 1. Input your registered Mobile No. (with Country Code), and your PAN or Date of Birth details.
How do I know my HDFC Bank branch? ›
Your cheque book and passbook have a lot of important information regarding your bank branch. Your branch name, branch address, contact number and IFSC Code are some of the information you can find there.
What is the swift code of HDFC Bank account? ›
HDFC BANK LIMITED
| SWIFT code | HDFCINBBCUS |
|---|
| Swift code (8 characters) | HDFCINBB |
| Branch name | HDFC BANK LIMITED |
| Branch address | No branch address |
| Branch code | CUS |
3 more rowsMICR vs Swift Code
Whereas MICR is the latest technology that has helped immensely in clearing a very high number of cheques daily by a branch, SWIFT code is a unique identification code that helps in identifying the branch and the bank that allows one to transfer funds internationally.
Is MICR number and Swift code same? ›
Is Swift code and MICR code same? Swift codes, or Society for Worldwide Interbank Financial Telecommunication codes, are different from MICR (Magnetic Ink Character Recognition) codes. A Swift code, also known as a Bank Identifier Code (BIC), is a unique identifier for a particular bank used worldwide.
What is the full form of IFSC and MICR code? ›
Indian Financial System Code or IFSC is used for fund transfers while Magnetic Ink Recognition (MICR) is used to process and clear cheques. On the other hand, branch code is simply used to identify a particular branch and this code can be found both in the IFSC and the MICR code.
What is the full form of MICR code? ›
The full form of MICR is Magnetic Ink Character Recognition. MICR code (Magnetic Ink Character Recognition Code) is a pattern recognition system used mostly by the bank industry to identify the document's originality and to enable the processing and approval of cheques and other papers.
