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Syndicate Bank IFSC Code is an 11-digit code assigned to each bank branch by the Reserve Bank of India. Each bank branch of the Syndicate bank has a unique IFSC code that makes it easy for customers to do safe and secured financial transactions online. By using the Syndicate Bank IFSC code, one can transfer money online to the Syndicate bank customers without having to wait in the long bank queues. The online fund transfer to Syndicate Bank customers fails if the transferor enters the wrong IFSC code. Hence, the use of the right Syndicate bank IFSC code is important to initiate a successful online transaction. Thus, the IFSC code acts as a safety net in helping one to transfer funds online without having to worry about anything. On entering the right code, an individual can safely transfer or receive money through NEFT, IMPS or RTGS service provided by the Syndicate Bank.
To put it simply, Syndicate Bank IFSC code is an 11-digit alphanumeric code that stands for the following:
IFSC Code of Syndicate Bank Akola (Washim) Branch is SYNB0005518 Whereas, the IFSC code of Syndicate Bank Amravati (Walgaon) Branch is SYNB0005121 Here the last six digits differentiate each of the bank branches, thus helping the transferor make a successful payment online.
If you want to transfer to an individual holding an account with the Syndicate Bank, then you would require the below details:
To successfully initiate a funds transfer from your Syndicate bank account, you would require the below details:
Finding IFSC and MICR code of Syndicate Bank is easy and can be done online too by just entering the state, district and branch name of the bank. IFSC code of the Syndicate bank branch can also be on the bottom of the chequebook. Syndicate Bank MICR code is an 11-digit HDFC MICR code, the first fourth, fifth and six digits denote the bank, while the last six digits represent the bank branch code.
To help customer’s transfer and receive money in no time, Syndicate bank provides the NEFT and RTGS payment services.
NEFT stands for National Electronic Fund Transfer that enables the account holder to send and receive funds in a quick and hassle-free way. To carry out the NEFT transaction, it is important for the transferor to know the IFSC code of the Syndicate bank branch in which the transferee holds an account. And if a Syndicate bank account holder wants to transfer money through the NEFT payment mode, then it is important for him to know the IFSC code of the transferee bank branch. A minimum of Rs.1.00 lakh (One Lakh only) per day is permitted for this transfer facility. Through the NEFT service, the money is dispatched in batches.
RTGS stands for real-time gross settlement service which means the online transaction can be done on a real-time basis. Syndicate bank branch has enabled this service at all bank branches and this service is usually used to carry out the transfer of money in high values. Through RTGS service, the money is credited to the account holder in 30 minutes. However, to use this service it is important for the sender and the receiver to know the right IFSC code of the bank branch in which the transferee holds the account.
IMPS stand for Immediate Payment Service that can be availed by the Syndicate bank customer on a 24*7 basis. IMPS allows the Syndicate bank customers to carry out Instant Interbank electronic fund transfer. The daily cap limit for using the Syndicate bank service is Rs.50,000/- per day.
Syndicate Bank is one of the oldest and largest commercial banks in India, nationalised in the year 1969. Headquartered in Manipal, Karnataka, Syndicate Bank is one of the oldest commercial banks in India that began its operations in Udupi in 1925. Earlier, Syndicate Bank was known as Canara Industrial and Banking Syndicate Limited. The bank now has over 3000 branches in all the States and Union Territories of the country include a Branch at London, United Kingdom.
Does Syndicate bank provide IMPS service?
Yes, Syndicate bank does provide IMPS service through mobile and internet banking.
What is the requirement for using the Syndicate bank IMPS service?
It is important for the transferor to know the account number, IFSC code and the branch name of the Syndicate bank account holder.
Are there any charges for using Syndicate Bank IMPS service?
No, there are no charges for using Syndicate bank IMPS service. However, an individual can only transfer funds up to Rs. 50,000 per day.