Find Barclays Bank IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.
Money transmission has grown simpler because of the recent growth of the financial system. A quick money transfer requires days to be credited to the account, but nowadays, it takes just a few moments. If you wish to send money to a Barclays account, you’ll need to know the Barclays bank IFSC Code.
The IFSC code is the “Indian Financial System Code.” To give you a summary, it’s an alphanumeric code of eleven digits. Each bank and its many branches throughout India have its version of this code. If you need to move funds online from one bank to another, you’ll need the IFSC code for that institution.
Your account passbook, pay book, and financial records will all include the IFSC code. The IFSC code is used to distinguish branches while utilizing digital services such as National Electronic Funds Transfer (NEFT), Real-time Gross Settlements (RTGS).
Another relevant line of authority in a bank is the MICR code, similar to the IFSC code. The MICR code is a nine-digit code that is specific to an individual. It’s used to determine which banks and locations are members of the Electronic Clearing Service (ECS). Continue reading to learn more about the Barclays bank IFSC Code, MICR Code, and other vital details.
The Barclays bank IFSC code, as previously stated, is an eleven-digit alphanumeric number that is unique to each bank and its subsidiaries. The Reserve Bank of India (RBI) can solely issue it. The code helps in identification and secure transactions through electronic payment methods or even offline.
For a more profound comprehension, let’s disintegrate this 11-digit letters and numbers code using an example. Here is an example of Barclays bank Mumbai branch IFSC code is “BARC0INBBIR”.
This code is divided into three parts, the first four (BARC) of which are alphabetical and indicate the name of your institution. Then, the fifth character is always zero (0) and is retained for future use. Finally, the bank’s branch is indicated by the final six numbers (INBBIR).
It’s important to note that you can’t complete any internet payment without the recipient bank’s IFSC number, which you may get via various sources, including NEFT, RTGS, IMPS.
The MICR code for Barclays bank is a 9-digit proprietary code. It is the primary reason for the quicker processing of checks. The code is written on checkbooks and passbooks utilizing the MICR system, as the name implies (Magnetic Ink Character Recognition technology).
The primary advantage of magnetic ink innovation is that it makes it simpler to validate and handle online payments through checks more quickly. For a better understanding, let’s break down the 9-digit MICR code using an example.
The city code is represented by the first three digits of the MICR code, which is also the PIN code for postal addresses. The following three numbers represent the bank. Finally, the final three digits of the code represent the Barclays bank branch.
“400658002” is the MICR code for the Barclays branch. Here, 400 is the city code, 658 represents the bank, and the rest three numbers, 002, are for the bank’s branch.
Both the IFSC and MICR credentials are required to complete any virtual payment to another bank utilizing the accessible and transfer as mentioned above options, as you are probably aware. As a result, knowing about both of these is essential.
However, there’s a good possibility you’ll forget one or both of these codes. The many methods you may check for your Barclays bank IFSC code, and MICR code are shown below to assist you in avoiding such scenarios.
A site called Find Your Bank is one of the finest places to gather all of your bank information, along with the IFSC and MICR codes. Furthermore, if you need to restore numerous banking-related operations in a few mouse clicks from anywhere and at any time, this site will be helpful.
Open the Find Your Bank webpage and input the following information to find your Barclays bank IFSC code and MICR code:
Click “Enter” when you’ve entered all of the eligible selections. The site will review your information and respond with the necessary information. If you don’t want to use the website, you may use their mobile app to get the same information. It’s a lot easier to use than the other techniques in this article.
You may also find your IFSC and MICR numbers on your bank papers, such as your checkbook, bank card, or financial records.
Since only the Reserve Bank of India issues IFSC and MICR identifiers, you can quickly discover them on the RBI’s official site.
Net banking has made it easy to access your bank at any time and from anywhere. Additionally, you may retrieve your IFSC and MICR codes using these methods. To obtain your IFSC and MICR codes, sign in to your online banking system and provide the necessary information.
If none of the methods above work, call your branch’s customer service number to get your Barclays bank IFSC and MICR codes.
The modernization of the financial system has introduced three secure, quick, and painless methods of transferring funds from one bank account to the other, from everywhere at any time. NEFT, RTGS, and IMPS are the three pillars of fund transfer.
You will need some information to make an electronic money transaction to any Barclays bank branch in India. It includes the receiver’s name and account number, as well as the receiver’s bank branch’s identifier and IFSC number.
For a thorough description of each of these payment options, continue reading:
NEFT money transfers are the quickest and convenient ways to send money since they are done electronically. The RBI created it to provide customers with the comfort of a swift and painless internet transfer, particularly in times of need.
An NEFT transfer may be made using either online banking or mobile financial services. One of the unique aspects of Barclays bank’s NEFT transfer is that the transfer amount has no minimum or maximum constraints.
|Up to 10,000||2.5 + tax|
|10,000-1,00,000||5 + tax|
|1,00,000-2,00,000||15 + tax|
|2,00,000-5,00,000||25 + tax|
|5,00,000-10,00,000||25 + tax|
You can make NEFT transactions every day except Sundays from 8 AM to 6:30 PM. Furthermore, NEFT transfers are made on a net-deferred basis, which means that all financial transactions are packaged together and processed hourly.
An RTGS transaction occurs in real-time, as the name implies. As a result, it is often used to make larger payments from one bank account to the other. Another benefit of utilizing the RTGS payment mechanism is the speed with which it settles.
The least amount sent using RTGS is Rs. 2 lakh, and there is no maximum amount. During bank business hours on weekdays and Saturdays, you may transfer money using RTGS.
To Move Funds Using RTGS or NEFT Offline from a Barclays Bank Account, follow the steps outlined below:
Kindly bring the following papers to the Barclays Bank Account Nearest Branch: remitter’s account information, recipient’s account information, bank location & IFSC of the recipient, etc.
Meet with your Relationship Manager or a Bank Executive to receive an RTGS/NEFT Transaction Application Form for a financial transaction.
You must check the obligatory statement at the end of the RTGS/ NEFT Payment Request Form.
You must sign at the bottom of the RTGS/ NEFT Transaction Request Form in the supplied area. If you are a company, you must provide the stamp and signature of the authorized signatories in that field.
Send the Bank Executive the fully completed RTGS/ NEFT Money transfer Request Form.
A Bank Executive will verify your application, signature, and other data. He will acknowledge your request if he deems the form to be complete in all respects.
Following formal confirmation, Barclays Bank Account will transfer funds from your account to the beneficiary’s account using RTGS or NEFT.
When the transaction is secure, you will get information from Barclays Bank Account by SMS on your new mobile number or email regarding the execution of your request to Transfer Funds Through RTGS or NEFT from your account.
You may call your branch to see if the transaction has been completed if you have not received any notification.
In short, the Immediate Payment Service, or IMPS, is another quick bank-to-bank financial transfer technique provided by Barclays bank. It is the fastest way since the transmission happens quickly and is available at all times.
IMPS allows you to transmit amounts as little as Re.1 and as much as Rs. 2 lakh. However, keep in mind that these restrictions differ from subsidiary to subsidiary. They charge Rs. 5 upto a transaction of Rs. 1 Lakh, Rs. 15 for a transaction over Rs 1 Lakh but less than Rs 2 Lakh.
In its more than 300-year existence, Barclays has had a run of firsts to its credit, from sponsoring the world’s first commercial steam railway in 1819 to introducing the world’s first computerized teller system in 1967.
Barclays bank employs around 23,000 employees across its banking, technology, and shared services activities in India, making it one of the major UK employers in the country.
Barclays Bank, which has had a foothold in India since 1990, has attained market leadership in its selected sectors of business, including corporate banking and investment banking. Since 2010, Barclays has been a top 5 domestic financial arranger and a top 3 arranger of overseas bonds in 2012.
Yes, it is a safe bank. Most customers should find Barclays Bank appealing since it offers an online bank account with excellent interest returns and no monthly payments.
To secure client data as much as possible, Barclays employs the most up-to-date internet security methods. SSL and TLS encryption with 129-bit authentication are included when facilitating each transaction. This means that the bank is safe and uses fair practices to transfer the funds.
No, the payment mode set by Barclays Bank is in adherence to the Government. You cannot get scammed through a bank transfer.
Barclays Bank is a part of the FDIC, ensuring your deposits are insured up to the maximum amount permitted by law.
Yes, Barclays Bank is a consumer bank. It has all the facilities like any other bank in India.