Net banking facilities have brought a revolution to the Indian banking system, allowing you to conduct banking chores online. RBI has issued unique identification codes to make online transactions easy. You will need Mizuho Bank IFSC Code to transfer funds through net banking to the Mizuho bank account.
IFSC is a unique code that is mandatory to carry out error-free, online, and paperless fund transactions from one bank to another. Another unique code is the MICR code that makes cheque processing faster.
Both the codes make banking procedures quick, without hassles. It has become essential to know the banking codes in the era of net banking to do work faster.
The article includes a detailed description of Mizuho Bank IFSC Code, MICR code, finding the codes, and the different ways to carry out online financial transactions.
IFSC of Indian Financial System Code is an alphameric code containing 11 digits and alphabets. IFSC code mandates carrying online transactions through NEFT, IMPS, and RTGS. The first 4 symbolize the bank, while the last 6 specify the specific bank branch. The 5th character is a universal zero.
The Mizuho Bank, Mumbai Nariman Point branch IFSC code is MHCB0000532. Here, MHCB is the bank name, while 000002 is the branch code. RBI has assigned the IFSC code to each bank branch separately. No two branches can have the same IFSC code. Mizuho Bank IFSC Code identifies the branch that participates in the online transaction.
It avoids incorrect funds transfers through IMPS, RTGS, and NEFT. The code ensures that the money is sent to the correct account without fraud.
MICR is a 9-digit code printed on every bank's cheque. The code uses the MICR technology to read the printed characters and clear the cheque. MICR code of Mizuho Bank, Mumbai, Nariman Point Branch is 400694002. Here, the initial three digits are the city code, the following three are the bank code, and the last three are the specific branch code.
The Magnetic Ink Recognition Code validates the cheque's authenticity during ECS or electronic funds transfer, allowing quick clearing, deposit, and processing. RBI does not assign MICR code to all bank branches. There are MICR and non-MICR banks in India.
You might have now estimated the importance of banking codes. But where do you find the correct codes? Multiple sources like the bank's website, apps, and third-party sites help you locate the codes.
One of the sites is 'Find Your Bank.' It is a popular website that provides necessary information on every bank's branch. Here are the steps to follow on the website.
You can download the Find Your Bank mobile app from Play Store. After downloading, open the app and enter the bank's name to get the correct codes. The other sources from where you can locate the codes are explained below-
Your bank branch's chequebook has IFSC and MICR codes. IFSC code is at the cheque's top, while MICR is printed at the bottom beside the cheque number.
Every account holder gets a bank passbook that has all account-related information. The passbook's first page contains account holders' names, addresses, photos, phone numbers, and account types.
The passbook also has Mizuho Bank IFSC Code and MICR code. Users having net banking accounts will find customer ID /user ID in the passbook.
You can find the Mizuho Bank IFSC Code and MICR code from the bank's official website. You can locate the specific branch bank code quickly.
RBI has an official website https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx. From here, you can find the codes of the specific bank branch.
If none of the above options work, you can contact the branch where your account exists or customer care. The branch's phone or email address or customer care number will be available online. You can get through any of them and ask for your IFSC and MICR codes.
NEFT enables online funds to transfer from one bank branch to another of the same bank or another bank. National Electronic Funds Transfer occurs in batches and takes nearly 2-3 hours to complete the transaction. NEFT is available for current/ savings account holders with Mizuho Bank.
Mizuho bank does not have any minimum or maximum limit for funds transfer. NEFT is mostly preferred for low to medium-range transactions. The fees that the bank charges on each money transfer differ.
All the above charges include additional service tax.
You will need the following information for carrying online money transfers through NEFT.
RTGS is a quick method for transferring funds online in real-time. RBI has developed the Real Time Gross Settlement, a continuous, instantaneous, and robust payment system. The bank clears the RTGS transactions individually, known as gross settlement.
Mizuho Bank has a minimum transaction limit of Rs 2 lakhs, while there is no upper limit. The bank charges Rs 25 per transaction for a money transfer of Rs 2 lakhs -Rs 5 lakhs. It charges Rs 50 for transactions above Rs 5 lakhs. Banks and financial institutions use RTGS for inter-bank transactions immediately.
You will need beneficiary name and account number, beneficiary IFSC code and bank branch name, amount to transfer, and creditor's account number.
IMPS facilitates immediate money transfers between accounts and people. IMPS is a quick method for transfer that works on Sundays and public holidays, available 24*7*365. Immediate Payment Service is inexpensive and easily accessible. IMPS enables you to use mobile phones to access their bank accounts and transfer money.
You will need the following information for carrying out an IMPS transfer.
You can use IMPS for sending money by logging onto your internet banking account with Mizuho bank. You will have to apply for MMID from the branch for carrying P2P transactions.
Mizuho Corporate Bank (MHCB) is a leading global bank established in 2013 with Japan's most extensive customer base. The bank was the investment and corporate banking subsidiary of Mizuho Financial Group before reintegrating investment banking services under the Mizuho bank in 2013.
Mizuho Financial Group is a 100% shareholder of the bank. It offers complete financial solutions to the clients, including corporate, structured, and trade finance, cash management, markets, advisory and institutional services.
The bank has an extensive international network with 465 domestic branches and 89 global offices worldwide. Mizuho Bank has six operating units in India, having customers from Japan and India.
Mizuho Bank is a leading global private financial institution that offers corporate and investment banking services worldwide.
Yes, Mizuho Bank (USA) is an FDIC-insured institution.
Yes, Mizuho Bank is a trustworthy and reliable bank. It is a Japanese financial institution with no lay-off policy that offers safe banking solutions.
Yes, Mizuho is a private bank that offers investment, retail, corporation, and many financial services to clients.