There were days when people had to stand in long queues to do small transactions, it used to take a lot of time of energy with the whole process. Though, when we talk about today’s time, all the bank transactions are done in such a quick and efficient way, which was not even imagined in the previous year. IFSC code is one the biggest and helpful transaction in the banking business. You may have noticed an eleven digit code on your bank cheques and if you do online transaction on a regular basis, then you must be aware about this code.
An IFSC code is very necessary in almost all the banking the banking transactions and this code of eleven characters, is no less than the lifeline of all the banking transactions. The alphanumeric characters in this code represent the whole information about a particular bank.
The first four characters of the Citibank IFSC code are also in alphabets, and they give us the information of the bank to which that code belongs to. The rest of the characters are in digits and they represent the branch of the bank to which a particular code belongs. There is one thing which is common in all the IFSC codes, and that is the fifth character, which is always zero, no exceptions.
Let Us Look At An Example of The Citibank IFSC Code:
As we can see in the above IFSC code, the first four characters are CITI, which clearly means that this code belongs to the Citibank. As we can see the fifth character of this IFSC code is zero, as above mentioned it is always the same in all the cases. If you will put the above code to search the bank it belongs to, you will get to know that this code is for the branch of Citibank which is located at Jeevan Bharti Building, Connaught place.
How To Find An IFSC Code?
It is very easy find the IFSC code of a bank. All you need to do is to open a website which provides the details of the IFSC codes, you can also refer to the website of the Reserve Bank of India and get the details for the same.
The question comes, how to go further about it. There is a tab on these websites where there is a search box which says “Search IFSC code” by putting the name of the bank and its branch; you can easily get the whole information about that bank. In case you have the IFSC code in hand and want to know about the bank it belongs to, and then put the code in the search bar to get the details.