HSBC IFSC Code and MICR Code

HSBC IFSC Code, MICR Code and SWIFT Code

Indian Financial System Code or the IFSC code is a standard Indian system used for transferring online funds between different bank branches. All Indian banks come with unique IFSC codes, which vary from branch to branch. HSBC IFSC code is a part of this Indian banking system. 

The IFSC code is a unique combination of alphanumeric characters, and it is required during any online transfer like NEFT, RTGS, and IMPS. This blog talks in detail about how you can find the IFSC codes of HSBC bank along with the MICR and SWIFT codes. You will also learn about the usage of these different codes, their purpose, and their benefits. Let's begin.

HSBC IFSC Code 

The HSBC IFSC code is an eleven-character code assigned by the Reserve Bank of India. The first four characters in this combination stand for the bank name, zero is the fifth character, and the last six characters correspond to the branch location or name. 

The IFSC code for each branch of HSBC is different for each branch. Let's see this formation with examples- the HSBC Kolkata Gariahat branch IFSC code is- HSBC0700005, and the HSBC Mumbai Bandra branch IFSC code is HSBC0400004. 

What is the importance of the IFSC code? The IFSC code is important to initiate any online money transfers. For example- if you are sending money to your friend via NEFT, you will need to know his/her bank's IFSC code in order to initiate a successful transaction. 

The IFSC code is allotted to locate each branch of the bank. A correct IFSC code will locate each branch no matter where it is located and help in payment processing. 

HSBC MICR Code 

Magnetic Ink Recognition (MICR) is a technology used for printing paper-based documents or databases such as cheques. MICR code also helps in identifying branches of the bank, but it is not related to online transfers. Banks use a MICR reading machine to identify the branch and initiate a faster cheque processing. HSBC MICR Code has nine digits containing numerics only. 

The structure of the HSBC MICR code goes like the first three codes are for the city, the next three codes are for the bank, and the final three codes are for the branch. For example, the MICR code HSBC Allahabad branch is 380039002. The code is different for every branch. 

What is the SWIFT Code of HSBC Bank?

Unlike IFSC code and the MICR code, which are used for national transactions, SWIFT code is used for sending and receiving financial information globally. The Society for Worldwide Interbank Telecommunication (SWIFT) assigns codes to banks for international fund transfers. The SWIFT code is known as the BIC code ( Bank Identifier Code) as well. The BIC or the SWIFT code of HSBC bank is an eleven-character code containing both numbers and alphabets. 

Here the first four characters represent the bank, followed by two letters representing the country, the next two numbers stand for the location, and the last three characters are for the branch (it is optional). The SWIFT code of the HSBC Mumbai branch is HSBCINBB. 

How to Find the IFSC, MICR, and SWIFT Codes of HSBC?

You can find the HSBC IFSC code, MICR, and SWIFT code through the following means-

You can search for any HSBC branch IFSC, MICR, and SWIFT code in the find your bank website and also in their mobile app. To find these codes in the find your bank site, you need to-. 

• Visit the Find Your Bank website 
• On the home page, you'll see options to select the bank name
• State 
• District 
• The location 
• After selecting all these respective codes, you will find the IFSC, MICR, and SWIFT codes. 

Other ways to find these codes

HSBC digital platforms

Nowadays, all banks come with their individual sites and mobile apps. It is very easy to find the IFSC, MICR, and SWIFT codes through them. 

HSBC Cheque Book and Passbook 

The IFSC and MICR codes are also printed on the checkbooks and passbooks; hence, you can search for them there as well. 

Reserve Bank of India Website 

The Reserve Bank of India website provides information regarding the IFSC, MICR, and SWIFT codes of all banks, including HSBC Bank. 

Call HSBC Customer Care Service 

Another way to find these codes is by contacting your HSBC customer care service. It is the easiest and most convenient way to find the IFSC, MICR, and SWIFT codes. 

How to Transfer Money through NEFT, RTGS, and IMPS Process of HSBC?

Online fund transfer methods like NEFT, RTGS, and IMPS have made sending money quite easily. If you want to know how to utilize these systems, look out for the points below-

NEFT 

National Electronic Fund Transfer (NEFT) has become one of the most popular methods of making online fund transfers. NEFT is a DNS-based system meaning money is transferred in different batches. To send money through NEFT, you need to enter the beneficiary account number, beneficiary name, IFSC code, and email id. 

Let's look into the charges of NEFT in the table below.

Amount	Charges
Upto Rs. 10,000	Rs. 2.5 per transaction
From Rs. 10,001 to Rs. 1 Lakhs	Rs. 5 per transaction
Rs. 1 lakh to Rs. 2 lakhs	Rs. 15 per transaction
Rs. 15 per transaction	Rs. 25 per transaction

 

The timings for making NEFT transactions are-

• Net banking timing- 10 am to 4 pm on weekdays and 10 am to 1.30 pm on Saturdays 
• Branch timing- Branch working hours from Monday to Saturday excluding second and fourth Saturdays. 

RTGS 

RTGS is primarily used for making high-value transfers domestically. You will need the same documents for sending money through RTGS as you required during NEFT. Let's look into the charges, timings, and transfer limits of RTGS in the chart below-

Amount	Charges	Timings
Rs. 2 lakhs to Rs. 5 lakhs	Rs. 25 per transaction	Monday to Friday 9 am- 5 pm
Above Rs. 5 Lakhs	Rs. 50 per transaction	Saturdays except for 2nd and 4th Saturdays 9 am to 5 pm.

 

IMPS 

If you need to make an instant fund transfer, IMPS is the system you must rely on. To make payments through IMPS, you need to have the following-

• Your MMID code 
• Beneficiary's MMID 
• Beneficiary account number 
• Your mobile number 
• Beneficiary AADHAR number 
• IFSC code of beneficiary's bank 

Additionally, the minimum and maximum transfer amount of IMPS is Re.1 and Rs. 2 lakhs, respectively, and it is available 24*7 all around the year. Now let's look into the charges and limitations of HSBC IMPS transfer mode.

Amount	Charges
Upto Rs. 1 lakhs	Rs. 5 per transaction
Rs. 1 lakh to Rs. 2 lakhs	Rs. 15 per transaction

 

About HSBC Bank

HSBC is a British financial service holding and multinational investment bank. It originated in British Hong Kong, and the current form of HSBC bank was established in London by the Shanghai and Hongkong banking corporation in 1991. 

Presently the bank has 3,900 branches across 65 countries worldwide. According to Forbes magazine, as of 2014, HSBC is the world's 6th largest public company. HSBC is categorized into four business categories- global banking and markets, commercial banking, global private banking, retail banking, and wealth management. 

FAQs

1) How to find the HSBC BSR code?

You can find the HSBC Basic Statistical code or the BSR code TDS certificates, Challan Identification Number (CIN). 

2) Why will we need the HSBC IFSC code?

We will need the HSBC IFSC code to make successful online fund transfers through NEFT, RTGS, etc. 

3) Where can I find the HSBC branch codes? 

You can find the HSBC branch codes through the bank's official website and also on the Reserve bank of India Website. Find your bank also provides the IFSC codes of all HSBC branches. 

4) Can NEFT be used for international fund transfers? 

No, you can't use NEFT for international fund transfers. It is meant for regional transfers only. 

5) Will I find the HSBC IFSC code on my credit card? 

No, you won't find the HSBC IFSC code on your HSBC credit card.