Canara bank IFSC code

Canara Bank IFSC code is an 11-digit alphanumeric code that is used for all types of online fund transfer processes including IMPS, RTGS and NEFT. This code is mainly used to make money transfer a swift process. The IFSC code of Canara bank is assigned by the Reserve Bank of India, thus giving each branch of the bank institution a unique identity. To carry out money transfer online through the Canara bank account, an individual needs to know the IFSC code of the bank branch in which he is transferring the money. To transfer money in Canara bank account from another bank, it is important for an individual to know the IFSC code of the Canara bank branch. Each and every branch of Canara bank has a separate IFSC code and no two branches of the bank can ever have the same code. IFSC code is extremely important to do the fund transfer process properly as it also acts as a branch identification code.

What is Canara bank IFSC code?

The Canara bank IFSC code is an 11 digit number with first four numbers depicting the name of the bank, the fifth being 0 and the last six being the branch code of the bank. Without a valid IFSC code, the Canara bank would not initiate the funds' transfer process. With Canara bank IFSC code, fund transferors can identify the errors in their money transfer process. Due to Canara IFSC code, fund tracking has become easy and it helps an individual identify the branch of the bank where the money is being processed in.

For example, IFSC code of Canara bank How to Search for IFSC and MICR Code of Canara Bank? If you are looking to find IFSC and MICR code of Canara bank, then here’s how you can find them.

IFSC code of Canara bank can be found on the chequebook or passbook issued by the bank. Whereas, the MICR code can be found on the bottom of the cheque issued by the bank. IFSC and MICR codes of Canara bank can be found online too.

Information required for transferring funds to Canara Bank account holder

If you want to transfer funds to an individual holding an account with Canara Bank, then you would require the below details.

  • Name of the account holder
  • Contact details of the account holder
  • Branch name of the account holder
  • IFSC code of the Canara bank branch
  • Canara bank account number
  • Contact details of the account holder

Information required for transferring funds from Canara bank account

To successfully initiate a funds transfer from your Canara bank account, you would require the below details:

  • Name of the beneficiary
  • Contact details of the beneficiary
  • Branch name of the beneficiary
  • IFSC code of the branch bank
  • Contact details of the beneficiary

How to transfer funds via Canara bank?

To ensure that every transaction made by a Canara bank account holder is safe, the bank offers the below payment systems which requires the account holder to enter the IFSC details of the beneficiary.

NEFT service by Canara Bank:

National Funds Transfer process is a hassle-free and quick fund transfer service provided by Canara bank that enables individuals to send money to NEFT enabled banks. Through this payment service, money is transferred in batches so it takes around 2-3 hours for the transfer to reflect in the recipients' account. Presently, NEFT operates in hourly batches from 8 am to 7 pm on weekdays and 8 am to 1 pm on Saturdays. A daily transfer limit of Rs.1-10 lakh has been set by the bank.

IMPS service by Canara Bank:

This simply means immediate payment service by which the money is credited to the transferors account on an instant basis. This payment system can be utilized any day, anytime including Sundays and public holidays.

RTGS service by Canara Bank:

Real-time gross settlement payment service offered by the bank lets an individual transfer money to the recipient within a span of 30 minutes, IFSC code is mandatory for initiating RTGS funds transfer.

For RTGS transactions settlement, the bank follows the below schedule.

  • Day Start Time End Time
  • All Working Days 8:00 hrs 16:30 Hrs

About Canara Bank

Canara Bank is one of the largest public sector banks in India. The bank is owned by the Government of India and has its headquarters in Bengaluru. As per a 2017 study, the bank has a network of 6639 branches and more than 10600+ ATMs. The bank also has branches in several international cities such as London, Hong Kong, Moscow, Shanghai and others. The bank offers an array of financial products and services such as investment banking, commercial banking, pensions and others.

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