Find KEB Hana Bank IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.
Hana Bank is a part of Korea's famous KEB Hana Financial Group. The bank offers major financial products and services to customers. It also provides internet banking, and the Hana Bank IFSC Code plays a key role.
In India, Hana Bank's branches are located in Chennai and Haryana. Hana Financial Group is one of the biggest bank holding companies in Korea. The official merger of Korea Exchange Bank and Hana Bank took place in 2015.
IFSC code is an exclusive code mandatory to conduct funds transfers online. It is mandatory for wire transfers through NEFT, IMPS, and RTGS. It identifies the two branches participating in the online transaction correctly.
Another code is the MICR code that authenticates the cheques and facilitates quick processing. It identifies the code printed on cheques.
Here, the article mentions Hana Bank IFSC Code and MICR code details. It contains information on finding the correct codes for sending money online. It also talks about Hana Bank.
RBI has introduced a unique coding system for making online transactions easy and hassle-free. The Indian Financial System Code is a unique code that helps wire transfer between two branches. It prevents fraud and errors during an online transaction.
The IFSC code correctly connects an account holder participating in the transaction to the bank branch. But you have to provide the correct IFSC code to the bank for quick processing.
Each branch's IFSC code has 11 characters in a combination of numbers and characters. For Instance, Hana Bank Chennai Branch IFSC Code is KOEX0000001.
The first four letters, KOEX, are the bank's name. Here it is Keb Hana Bank. The next is a common zero in all codes. The last six characters, 000001, are the branch code.
MICR is a unique code that confirms the validity of cheques. Magnetic Ink Character Recognition technology is used for printing MICR code on the cheques. Unlike Hana Bank IFSC Code, MICR is not mandatory for online funds transfer but for authenticating paper-based documents.
MICR helps in quick cheque processing through Electronic Clearing System. The code is printed with a special magnetic ink that detects fraud cheques and helps rapid clearance.
It is a 9-digit code assigned to each branch by RBI. It is divided into three sections with three digits in each. The first three digits signify the city name, the following three digits denote the bank name, and the last set is the branch name.
You might have now understood the need for IFSC and MICR codes in online funds transfer and cheque processing. However, you have to give the correct code to the bank for processing. Incorrect codes can lead to a wrong transaction.
So, how do you find the valid codes? Multiple sources are available online and offline to find the correct IFSC and MICR codes. Here is the list.
Find Your Bank is a reliable website that will give you the correct Hana Bank IFSC Code. It is a user-friendly website that requires you to follow the below steps for the codes.
As soon as you fill in all the details, you will get the Hana Bank IFSC Code. Similarly, you can get the bank's MICR code. Find Your Bank is a quick website to find IFSC and MICR codes of other banks in India.
Find Your Bank is available as a mobile app. You can download it from your Android Play Store. It is convenient to find bank codes with good internet connectivity.
Every branch has a chequebook of its own. Your branch will issue a cheque book with your name and account number. The cheque book has the branch's IFSC and MICR codes mentioned on it. IFSC code is at the top while MICR is at the bottom.
Every account holder gets a passbook from its branch. A passbook is an offline mode to track transactions online and offline. It has other details like your name, contact details, address, and account number. The passbook also mentions your branch IFSC and MICR codes, address, and contact information.
Each bank has an official website. You can find MICR and IFSC codes of each branch on the bank's official website.
RBI assigns MICR and IFSC codes to each branch in India. It has an official website from where you can find the codes of any bank in India. You will also get the correct Hana Bank IFSC Code from https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx.
If you cannot find the codes from the above options, you can contact customer care. Each branch has a customer care center. You can find the customer care number or email id from the bank's website.
Online banking has made our lives convenient by preventing us from standing in long bank queues. You can send money from one branch to another of the same or different bank. There are other methods through which you can carry transactions online.
NEFT, IMPS, and RTGS are the most common methods for online funds transfer. All these require the Beneficiary's Hana Bank IFSC Code for completing the process.
NEFT is a reliable method that most users prefer. The banks complete the process in batches of 2-3 hours. National Electronic Funds Transfer is an easy process that works on a Deferred Net Settlement.
It is not available on bank holidays and Sundays. It settles the funds' transfer requests on the next working day that are made on holiday. Keb Hana bank is open for NEFT on all days except Sundays, 2nd and 4th Saturdays from 8 am – 6:30 pm.
You have to log in to your online banking account for online cash transactions through NEFT. You can fill up the Fund Transfer Instruction Form available at Hana Bank to transfer cash offline. NEFT is mostly preferred to transfer a small amount of money.
Hana bank does not have a minimum or maximum limit for transferring funds. However, it levies the following charges for using NEFT online.
|Transaction Amount||Charges + Applied taxes|
|Up to Rs 10,000||Rs 2.50|
|Rs 10,000-Rs 1 lakh||Rs 5|
|Rs 1 lakh – Rs 2 lakh||Rs 15|
|Rs 2 lakh – Rs 5 lakhs||Rs 25|
|Rs 5 lakh – Rs 10 lakh||Rs 25|
You should furnish the following details to the bank for NEFT-
RTGS is a quick method for transferring funds above Rs 2 lakhs. The banks settle the transaction through Real Time Gross Settlement in real-time immediately without delays.
Hana bank has a minimum transfer limit of Rs 2 lakhs through RTGS with no maximum limit. RTGS is available for Hana bank customers on weekdays and Saturdays. It does not work on Sundays and holidays.
Charges by Hana bank are mentioned below.
|Amount||Charge Excluding Taxes|
|Rs 2 lakh – Rs 5 lakhs||Rs 25|
|Rs 5 lakhs – Rs 10 lakhs||Rs 50|
You have to submit the following details for the RTGS transaction to the bank.
Immediate Payment Service is an instant way of transferring funds in real-time. IMPS carries cash transactions faster than NEFT and RTGS. You can utilize the service through the internet, ATM channels, SMS, and mobile.
IMPS is available 24*7, even on Sundays and holidays. The maximum transfer limit for IMPS is Rs 2 lakhs, while there is no minimum limit.
You will need the below details for the IMPS transfer.
You require an MMID number for the phone-to-phone transfer. You can visit your branch to get an MMID number.
Hana Bank is a commercial bank headquartered in Seoul, South Korea. Hana bank is the primary banking subsidiary of Hana Financial Group. It converted into a commercial bank in 1991. It acquired Seoul bank in 2002.
The most recent expansion of Hana bank took place in 2012 by purchasing Korea Exchange bank. The official merger took place in September 2015. Outside Korea, it is Keb Hana bank. Keb Hana bank has a network of 134 foreign branches in 24 countries. It carries operations mainly in the Middle East, Asia-Pacific, Europe, and America.
Hana bank offers commercial and corporate banking services, foreign exchange, investment and retail banking, securities trading, loans, credit card, and internet banking. In India, Keb Hana Bank has branches in Chennai and Gurugram.
Yes. Both are the same. The official merger of KEB or Korea Exchange bank and Hana bank to KEB Hana bank happened on September 1, 2015. It ended the KEB's long 48- year history since its operation in 1967.
Hana bank has its headquarters in Seoul, South Korea.
You can send money to KEB Hana bank through offline and online methods. For offline funds transfer, you have to visit the bank's branch. You can do the offline transfer through a cheque. You have to log in to your KEB Hana bank net banking account online. From here, you can transfer funds to the same branch or another branch of another bank.
Yes, Keb Hana bank offers convenience and saves time by opening your account online.