Find Malleswaram Co Operative Bank IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.
In 1920, a group of young and energetic individuals, led by a few senior individuals, considered and explored the concept of forming a Co-Operative Bank called Malleswaram Co-Operative Bank. The Malleswaram Co-Operative Bank IFSC code is a unique identifier for your branch.
The term ‘IFSC’ code is widely used for money transfers. The IFSC is a unique 11-digit string of characters that aid in transaction and source confirmations. It makes counterparty payment detection and monitoring easier. The code facilitates money transfers through NEFT, RTGS, IMPS, and other electronic payments.
The Reserve Bank of India (RBI) has IFSC codes to facilitate interactions and oversee transactions to ensure that they are completed successfully and securely. The MICR code is another necessary code that banks employ to expedite the administration and verification of check payments. You can find this code easily. Simply look at the bottom of your bank’s chequebook. Dive right in to learn more about these codes.
Online banking is unquestionably the most convenient and secure method of banking. Transferring and receiving money through the Malleswaram Co-Operative Bank IFSC code has become common. Customers now prefer internet transfers over conventional banking for a variety of reasons. To begin with, it saves time. Second, it is a secure money transfer method since the funds go to the recipient’s bank within 48 hours.
For internet banking, the IFSC code is critical. When making an internet transfer, the user must supply specific details, including the receiving bank branch’s IFSC code. You cannot move the money without it. To make payments utilizing an online transaction system, you’ll need your branch’s IFSC code and the IFSC number of your remitter’s account.
You’ll get a better understanding of this example. The Malleswaram Co-Operative Bank Ganganagar Branch, Bangalore IFSC code is HDFC0CMCOBL. Here, HDFC gives the info regarding the bank’s name. The 5th digit is always a zero. The remaining characters (CMCOBL) tell you the branch of the bank.
MICR is a code written on checks using Magnetic Ink Character Recognition technology. This also allows the identification of Malleswaram Co-Operative Bank’s cheques, which leads to speedier processing. A MICR code is a nine-digit identifier that distinguishes a bank and location participating in an Electronic Clearing Service (ECS). The MICR code of the Bangalore branch is 560227001. It is in three sections:
The MICR code is visible next to the check number at the base of a cheque leaf. It’s also written on the first page of your bank’s deposit account passbook.
Knowing all of your credentials is essential because you’ll need the IFSC code and MICR code for Malleswaram Co-Operative Bank to make payments. You may obtain these codes in several ways. The techniques for acquiring the IFSC, SWIFT, and MICR codes are:
Find Your Bank is a portal that provides many different financial solutions. It’s among the most productive ways to get your bank account information. To get the Malleswaram Co-Operative Bank IFSC code and MICR code, go to their website and provide the following data:
When you type in these data and hit submit, the results will show you the appropriate codes. Find Your Bank also offers a smartphone app that you may access anywhere. You may quickly discover these codes with only a few clicks on the smartphone app.
On the bank paperwork, your bank details are always present. The bank passbook and the chequebook include the IFSC and MICR codes. You may also find the codes on the passbook’s initial page. To see them in the chequebook, look for the details on any check leaf or at the bottom.
The official website link of the Reserve Bank of India will present you with your Malleswaram Co-Operative Bank IFSC number and MICR code. The RBI keeps a registry of all IFSC and MICR numbers for Indian Banks’ branches.
Just log in to your bank’s net financial services or mobile banking platform using your credentials to get these codes. After login in, go through the many choices and choose the code you desire.
If the procedures outlined above confuse you, you may try contacting the helpdesk of your local bank directly for assistance.
E-wallets, UPI, and other online money transfer options are presently available in India. The most widely utilized online money transfer technique, however, has been:
Here is how you can use the services mentioned above for fund transfer:
NEFT is a mechanism for one-to-one bank transactions. It is among the most common methods to transfer payments online since it is a nationwide system. The benefit of NEFT is that it eliminates the need to visit banks and wait in extensive lines for a simple money transfer.
The payment method eliminates the superfluous obligation of obtaining money on paper and returning it by cash check. The steps to transfer money through NEFT are as follows:
Step 1: Step into your 'Internet Banking Account' initially. If you don’t already have a net banking account, create one on your bank’s official site.
Step 2: Make the recipient a payee. To do so, go to the ‘Add New Payee’ area and fill in the following information about the recipient:
Step 3: After you establish the payee, choose NEFT as the method of payment transactions.
Step 4: Choose the account from which you want to transfer funds, the payee, the amount you wish to send, and any notes (optional).
Step 5: Press the 'Submit Button.'
The charges on NEFT transactions are:
|NEFT Amount||NEFT Charges|
|Up to Rs.10,000||Upto Rs.2.50|
|Above Rs.10,000 but below Rs.1 lakh||Upto Rs.5|
|Above Rs.1 lakh but below Rs.2 lakh||Upto Rs.15|
|Above Rs.2 lakh||Upto Rs.25|
You can use NEFT 24x7, including holidays and Sundays. Moreover, there is a 5 lakh limit over fund transfer.
RTGS is a way of transferring funds that occurs in real-time with no interruptions. The money transferred by the remitter may reach the recipient as soon as the request arrives using this wire transfer technique. The full version of RTGS comprises Gross Settlement, which implies transactions are completed one at a time rather than in batches.
It is one of the quickest interbank payment processing methods accessible in India through banking systems. The beneficiary bank must credit the recipient’s account within 30 minutes of obtaining the money transfer notification in RTGS activities. When sending money using RTGS, having the following information is essential:
Once you have these details, follow the given procedure for seamless fund transfer through RTGS:
You must first add a recipient before you can send money using RTGS. After that, you may make a money transfer. To add a benefactor to your account, follow these steps:
Follow these four easy steps to send money via RTGS after adding the recipient:
Step 1: After entering your Netbanking account, go to the Funds Transaction tab.
Step 2: Choose the RTGS method and then the benefactor you want to transfer money to.
Step 3: Fill in the amount to be deposited.
Step 4: Before submitting the request, review all of the credentials. Within 30 minutes after receiving the request, the bank will deposit the cash.
Here is a table to help you out:
|Timings||Monday to Friday everyday from 10 AM to 2 PM and from 3 PM to 6 PM|
Rs. 25 for funds between 2 - 5 lacs
|Settlement||Real-time (within 30 minutes)|
|Minimum and maximum limit||
The minimum limit is Rs. 2 lakhs
No maximum limit
Indian financial institutions give Immediate Payment Services (IMPS) to their clients. It allows them to conduct real-time interbank transfers. Customers do not have to queue for the bank to open to transfer funds. You may opt for it on weekends, vacations, or weekdays. The bank allows you to send a maximum of Rs. 2 lakh via IMPS. The two methods to transfer funds through IMPS are:
The procedure for sending an IMPS payment using mobile banking is as follows:
The procedure for transferring IMPS funds through net banking is as follows:
In 1920, a group of eager friends got together in one of Bangalore’s oldest expanses, Malleswaram, to discuss the need for a Co-Operative bank. The group, which included government officials and collaborative thinkers, gave substance to their concept. On June 26, 1920, they initiated the Malleswaram Co-Operative Bank.
The bank meticulously follows all regulatory rules and performs at its highest level. Its operating discipline and dedication to genuine personnel services periodically in all domains of the bank’s operations are excellent. The bank has three buildings in key locations: Heart of Malleswaram, Vyalikaval, and Rajajinagar.
You can contact the Malleswaram Co-Operative Bank during their official work hours. Their contact numbers are: 080-23342713 / 080-23341616
The Malleswaram Co-Operative Bank Ltd covers the entire territory of Bangalore. It has offices in Rajajinagar, Vyalikaval, Yeshwanthpur, Ganganagar, and RPC Layout.
You need the Malleswaram Co-Operative Bank IFSC code for online money transfers using NEFT, RTGS, and other payment methods. It also makes it simple to identify your branch.