Find Bank Of Bahrain And Kuwait IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.
E-banking is more of an everyday phenomenon now than a novelty. While more and more transactions are being processed online, the process still isn't as streamlined as it could be. For instance, the Bank of Bahrain and Kuwait IFSC code would be needed for wire transfers made to an account in the bank.
Many are still stuck between where to find these codes and how to make sure they're correct. The IFSC code is used for NEFT and other online transfers, and the MICR code for prompt document and cheque authentication.
In this article, you will explore the composition, use, and significance of these codes and other specifics about the Bank of Bahrain and Kuwait.
Let's start with the IFSC code, which is the first one you'd need while making an online transfer. It is an 11-digit alphanumeric code that is assigned by the RBI to each branch of every bank for unique universal identification. This is the one you'd require to avail of NEFT and RTGS services via your bank branch.
With an increasing number of banks becoming a part of these services, finding the right banking code is increasingly confusing. This is also because even the difference of a single digit can initiate a transfer to the wrong bank or branch.
The Bank of Bahrain and Kuwait IFSC code, following the 11-character format, is broken into some distinct segments. This is in line with the standardized structure of the IFSC code. For example, The Bank of Bahrain and Kuwait New Delhi Branch Ifsc code is BBKM0000005.
Here, three distinct sections can be observed within the code. "BBKM" is the Bank of Bahrain and Kuwait bank code. This sequence is followed by a standard digit "0". The last six digits of the Bank of Bahrain and Kuwait IFSC code, "000005", indicate the branch code here.
Coming to the MICR codes for different branches of BBK, these serve different authentication and validation purposes. You might have spotted a MICR code most commonly at the bottom of your cheque leaf. These are also used for other official document authentication purposes by banks.
MICR codes, Printed in magnetic ink, rely on MICR technology to detect fraudulent documents, cheques, and printing. While it's less likely someone will ask you to fill in the MICR code, it is handy to know how it works to keep a check for yourself.
Your Bank of Bahrain and Kuwait MICR code is a nine-digit sequence. For instance, the same New Delhi district branch that we discussed for the IFSC code has a corresponding MICR code - 110150002.
This particular code corresponds to the address - Unit 3 4, Ground Floor, Eros Corporate Tower, Nehru Place, New Delhi,110019.
Three segments within the MICR code represent the city, bank, and branch code, respectively. Here, "110" is the city code. "500" corresponds to the bank code, and "002" is the branch code for this specific Bank of Bahrain and Kuwait branch.
Having discussed the composition as well as working of both IFSC and MICR codes for BBK, the next step is to explore where to find these codes. As some would already know, there are many options to refer your banking codes from. The struggle is with confirming if it is the right and updated one!
What makes finding the accurate code all the more important is its significance in any online transaction. Across bank branches, many sections of the code, such as the bank code, remain the same. Sometimes, the difference could be as little as the last digit.
As you'd see here - the only difference between the Delhi Bank of Bahrain and Kuwait IFSC code (BBKM0000005) and the Mumbai Bank of Bahrain and Kuwait IFSC code (BBKM0000001) is that of a single concluding digit. These codes are also sometimes updated by RBI; hence the versions from random sources might not be reliable.
Thus, let's look at some easy-to-use and reliable resources to find your BBK IFSC code. These are some options that you can bank on:
Starting with the easiest one at your fingertips! IFSC Search tools are easy, handy, and reliable options for finding your Bank of Bahrain and Kuwait IFSC code or banking codes for other banks. The only trick is to make sure you're using a premium and authentic tool.
Find Your Bank is one such top-ranking tool that makes navigating through different IFSc, MICR, and SWIFT codes easy. With its advanced yet easy-to-use portal, you can explore many key details about your bank branch. Here's all you need to do:
Your page will be automatically redirected to the search results. You'll find all the necessary details in a single place. If you're on the go and want a quick search, Find Your Bank's mobile app can be your go-to.
Download the Find Your Bank app from the PlayStore and browse back and forth through different banking codes and details in no time.
Where else can you find your BBK IFSC and MICR codes? Mentioned below are some alternative sources to check your banking codes.
NEFT, RTGS, and IMPS are by far the most popular modes of online money transfer. Armed with the right banking codes, here is everything else you need to know about NEFT, RTGS, and IMPS transfers through BBK.
NEFT or National Electronic Fund Transfer is one of the most widely used modes of online money transfer. It operates in batches of 30 mins, known as half-hour settlements.
NEFT in the Bank of Bahrain and Kuwait can be availed 24x7 for any amount from less than ₹10,000 to over ₹2 Lakhs. NEFT services can be availed on all weekdays during standard bank operating hours. The charges levied by BBK for NEFT are the following:
|Amount||Charges (for Account Holders)||Charges (for other applicants)|
|Up to Rs.10,000/-||Free||Free|
|up to 1 lakhs||Rs.5 per transaction||Rs.5 per transaction|
|Above Rs. 1 lakh to Rs.2 lakhs||Rs.15 per transaction||Rs.15 per transaction|
|Above Rs.2 Lakhs||Rs.25 per transaction||Rs.25 per transaction|
In addition to these details, you need to be aware of the documentation required to process an NEFT transfer. These include
In addition to these details, you need to be aware of the documentation required to process an NEFT transfer. These include:
RTGS, as the name suggests, refers to Real-Time Gross Settlement. This is the one you'd use for an urgent money transfer of a higher order. While RTGS services for the Bank of Bahrain and Kuwait are available even beyond 3 PM, some additional charges are levied for any requests raised after 1500 hours.
RTGS is typically used for high-value transactions and holds a lower limit of ₹2 Lakhs to be used. The RTGS charges levied by BBK are as follows:
|Amount||Charges (for Account Holders)|
|Rs. 2 - 5 lakhs||Rs. 25 per transaction|
Note - Additional Rs 5/- would be charged above this rate for transaction requests raised post-1500 hours.
The documentation required to process RTGS transactions with BBK is similar to the NEFT documents required. These include:
The Bank of Bahrain and Kuwait is a retail and corporate bank founded in 1971. Its services extended to UAE and India are, however, limited primarily to corporate banking. BBK offers banking services in four major areas, including retail, treasury, investment, and corporate banking.
As of now, BBK has four branches in India along with assets worth over $10 Million as of 2019. From e-banking to loans and credit facilities over multi-feature accounts, several premium banking services are offered under the Bank of Bahrain and Kuwait.
The interest rates for savings deposits are as follows under BBK as of February 2022:
|7 days to 45 days||2.90|
|Tenor||Below Rs 2 Crore||Rs. 2 Crore - below Rs. 25 Crore||Rs. 25 Crore - below Rs. 50 Crores|
|46 days to 90 days||3.15||3.15||3.15|
|91 days to 180 days||3.35||3.35||3.60|
|181 days to upto 1 year||4.00||4.00||4.15|
|Above 1 Years and upto 3 Years||5.25||5.25||5.25|
|Above 3 Years and upto 5 Years||5.50||5.50||5.50|
|Above 5 Years||5.75||5.75||5.75|
The following documents are typically required to open your Bank of Bahrain and Kuwait account:
Head over to the official BBK website - https://www.bbkindia.com/index.htm and click on "Click here to login" under E-banking login. You can create a new account as well as log in to an existing one here.
The following documents are needed to open your BBK account - Proof of Identity - as Driving Licence, Voter ID or PAN card, Proof of Address - Last Electricity bill, Domicile certificate, or Employment certificate, Self cheque, and two passport-sized photographs. With these, you can log in as a "New User" online or visit a branch to open an account.
Login to your BBK account through https://www.bbkindia.com/index.htm and visit the e-banking portal to check your balance and other statements. The e-banking manual can further assist in this process.
All four Indian branches of BBK have at least one digit uncommon between them. While other BBK branches might be more distinct, Indian branches typically differ by the last digit in the IFSC code, which is part of the branch code.