Is it safe to share IFSC Code?
Yes, it is safe to share your bank IFSC. The transaction can only be completed if the other person knows your bank account number, name and IFSC.
Is IFSC Code and Customer ID the Same?
No, the IFSC code and customer ID are not the same. The IFSC code used to identify a specific bank branch for electronic fund transfers, while a customer ID is a unique identifier assigned to an individual customer by a bank to manage their accounts and services. The IFSC code is essential for transactions, while the customer ID is used for account management and customer identification.
Address: PLAZA MANDIRI 36-38 JL. GATOT, SUBROTO KAV JAKARTA 12190, INDONESIA
General instructions for international payments to banks in INDONESIA:
Standard Settlement Instructions (SSI) contain the list of correspondent banks of BANK MANDIRI (PERSERO), PT. for each currency.
To track a SWIFT cross-border payment to or from BANK MANDIRI (PERSERO), PT., you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.
We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.
Immediate Payment Service (IMPS)
Immediate Payment Service is a real-time electronic fund transfer method where the money is credited instantly to the payee or beneficiary account. It can be carried out at any time on a 24/7 basis. In this system, interbank transfers can be initiated via multiple channels such as SMS, ATM, mobile banking, NetBanking, etc. The primary advantage of IMPS over RTGS and NEFT is that the facility can be availed around the clock.
MICR is an acronym for Magnetic Ink Character Recognition. MICR code is a nine-digit code that speeds up the processing of cheques. MICR codes are unique for each bank branch and play a vital role in identifying both the bank and the branch participating in an Electronic Clearing System (ECS), which is a method of transferring funds electronically.
A MICR code has three essential components that provide information about the location, bank and branch of the cheque issuer. The structure of a MICR code is as follows –
Step 4: Funds Transfer Confirmation
Real Time Gross Settlement (RTGS)
RTGS or Real Time Gross Settlement is a fund transfer method that facilitates sending and receiving money without any delay. This system allows the money sent by you to reach the beneficiary instantly once the transaction is initiated. The processing of transactions happens on an individual basis and not in a batch-wise system.
Where to Find the IFSC & MICR Codes on a Cheque?
You can easily find both the IFSC and MICR codes on the bank’s chequebook and passbook. The IFSC is printed on the top of the cheque leaf, while the MICR code is printed on the bottom of the same leaf. You can also find both these codes on the first page of the passbook provided by the bank branch.
What is IFSC Full Form?
Full form of IFSC is Indian Financial System Code.
Branch Locator tool
Most banks have a Branch Locator tool on their official website. You can use it to find the IFSC for a specific branch by entering the state, city and branch name. For example, if you enter “Uttar Pradesh” in the state field, “Lucknow” in the city field, and “Lucknow Main Branch” in the branch name field, your screen will display the IFSC of this branch.
It is crucial to enter the correct IFSC during an online transfer, as it ensures that the funds reach the intended recipient. If you enter an incorrect IFSC, your bank will decline the transaction.
