Electronic fund transfer methods have made sending funds a hassle-free process. IFSC code: a combination of 11 characters, including both letters and numbers, plays a very vital role in sending money online, without which the fund transfer process will be a failure. Bank of America also follows the same process, and you need to know the Bank of America IFSC code to send or receive money online.
You no longer have to stand in long queues and fill up lengthy forms to send money to anyone you want. The Bank of America IFSC code helps in identifying its branches and transfers money without any complications.
In addition to the IFSC code, you must have knowledge of MICR and SWIFT codes of the bank for other payment procedures. This guide discusses in detail what all these codes are, how you can find them, and what their uses are.
Bank of America IFSC code is an eleven-character code, and it has both numbers and letters. The format of the code is- the first four characters correspond to the bank's name, the fifth character is zero, and it's the control element. The final six characters are for the identification of the branch.
Here is an example of the IFSC code format- Bank of America Maharashtra Mumbai city branch IFSC code is BOFA0MM6205.
You will need the Bank of America IFSC code while making any online money transfer via NEFT or RTGS. Without putting in the IFSC code, you won't be able to send money to the remitter's account.
Moreover, it is vital to know the correct IFSC code of the respective branch; otherwise, there is a high chance of transaction failure. Banks maintain these IFSC codes for the successful segregation of their branches.
Bank of America MICR code is the Magnetic Ink Character Recognition number. It is generally printed on the cheque books for faster processing of cheques. It is a nine-digit code containing numerics only. Each branch of Bank of America has its individual MICR code. For example, the MICR code of the Bank of America Chennai branch is 600032001.
The MICR code is required during any cheque processing. The MICR code verifies the legality and credibility of paper-based documents like cheques. Like the IFSC code, MICR code too helps in identifying the branches irrespective of their location. But unlike IFSC code which is used for electronic fund transfer, MICR code helps in faster processing of cheques.
SWIFT or Society of Worldwide Interbank Financial Telecommunication code identifies banks worldwide. It is also known as the Bank Identification Code or BIC code. BIC or SWIFT code is operational during international wire transfers. Bank of America SWIFT code is an eight-character code, and its format is- the first four characters stand for the bank name. The fifth and the sixth character stand for the country, and the remaining two characters correspond to the city where the branch is located.
Bank of America has two SWIFT codes. One for foreign currency and another for U.S dollars. The SWIFT code for the U.S dollar is- BOFAUS3N, and the SWIFT code for other currencies is- BOFAUS6S. The SWIFT code is needed if you are making an international fund transfer or if you are receiving money from an international source. Banks also use the SWIFT code to transfer money between them and to send messages across.
A routing number is a nine-digit code that is needed to identify banks for routing cheques, direct deposits, e-payments, fund transfers, etc. It is also known as routing transit number, banking routing number, and ABA number.
The difference between routing numbers and SWIFT numbers of Bank of America is that SWIFT code is solely used for international wire transfers, and routing number is used for domestic transfers.
You can find the Bank of America IFSC code, MICR code, and SWIFT code through the Find Your Bank website. Below are the steps you have to follow to find the respective codes- Find your bank is a one-stop destination to find all the required codes for Bank of America.
You will find the IFSC and MICR code in the Bank of America checkbook as well. The IFSC code is usually at the top of the checkbook, and the MICR code is at the bottom.
If you have an account in Bank of America, you must have your account passbook. The passbook contains the IFSC and MICR code in it.
You can also find these codes in the bank's mobile app and also through its official website. Additionally, the Reserve Bank of India website also provides details regarding the Bank of America IFSC code, MICR code, and the SWIFT code.
Every bank comes with its own customer care service, and it is applicable for Bank of America as well. If you are still facing difficulty finding the mentioned codes using the above-mentioned methods, you can ring up the customer care service. Bank of America customer care numbers are- 8009336262, 8773661121, 8002156195, 8448926002.
Bank of America offers NEFT and RTGS modes of fund transfers. You can avail of these services to transfer money within the same bank and same branch or within different banks and different branches. To transfer money through these two modes, you need to enter the following details of the recipient-
After you fill in all these details, you can click on confirm, and the money will be transferred. Both the methods are quick modes of fund transfer, and most of the time, it is credited to the beneficiary's account within hours.
As the name suggests, Bank of America originated in the United States, and its first branch in India was established in Mumbai in 1964. It currently operates in 5 cities across India and provides multiple services.
The wide array of services provided by Bank of America have enabled it to earn a huge customer base. The five cities where it has its branches are- Mumbai (headquarters), Delhi, Chennai, Kolkata, and Bengaluru.
At present, Bank of America offers three types of savings accounts which are- Bank of America Advantage savings account, custodial savings accounts for youths, minor savings accounts. The bank offers checking accounts and CD accounts as well.
Yes, all the branches of Bank of America have different SWIFT codes as it is required to locate the branch.
Routing numbers are also known as transit numbers.
Bank of America provides NEFT and RTGS methods of online fund transfer.
You can find the Bank of India IFSC, SWIFT, and MICR codes on the https://findyourbank.in/ website. You can find the codes on the official bank website and the RBI website as well.
You will need identity proof, passport size photo, PAN card, and your address proof to open an account in Bank of America.
Any Indian citizen above the age of 18 is eligible to open an account in the Bank of America. The customers need to have all the valid documents required to open the account.