Find Rabobank IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.
The IFSC code, also known as the Indian Financial System code, was introduced by the Reserve Bank of India. It is an eleven-character alphanumeric code that helps identify bank branches. The RBI also gave the Rabobank IFSC code for the same functioning.
IFSC code plays a significant role in online transactions, especially money transfers. Without entering the correct IFSC code, you won't be able to transfer funds through NEFT or RTGS methods.
Another vital code that is required during bank transactions is the MICR code. But unlike the IFSC code, which is required during online fund transfers, MICR code is needed during verification of cheques and faster processing.
In this article, you'll read more about the Rabobank IFSC code and MICR codes and understand their functionalities.
The Rabobank IFSC code is an eleven-character code containing both letters and numbers. Each branch of Rabobank has its unique set of IFSC codes which finds out the branch locations irrespective of where they are situated. The format of the IFSC code goes as follows- the first four letters correspond to the bank, the mid character is zero, and the remaining six numbers symbolize the branch location.
The Rabobank Mumbai branch IFSC code is RABO0000001. As you can see, the first four letters RABO here identify the bank, the fifth number is zero, and the final six characters symbolize the Mumbai branch.
The IFSC code helps in seamless fund transactions through NEFT and RTGS. As soon as you enter the code, the branch location will be identified, and money will be sent. However, you will also need to enter other details like account number, beneficiary name, etc.
Magnetic Ink Character Recognition Code or the MICR code is a nine-digit code printed on the cheque leaves. The MICR code is printed using magnetic ink to avoid any fraudulent transactions and processing the cheques faster and to verify the legality and credibility of any paper-based document.
The MICR code is a nine-digit code containing numbers only. Like different branches of a bank have different IFSC codes, there are separate MICR codes for each branch. The MICR code of Rabobank Mumbai branch is 400240270.
The primary difference between the IFSC code and MICR code is, IFSC code is needed during digital fund transfers, and MICR is needed during cheque clearance.
You can find the Rabobank IFSC code and MICR code on the Findyourbank website. Follow these steps to find the mentioned codes-
Other sources where you can find the aforementioned codes-
You can find the IFSC and MICR code in the passbook and cheque book. The IFSC code can be found at the top of the said books, and the MICR code is printed at the bottom.
The Reserve Bank of India keeps a record of IFSC codes of all the banks. Hence, it will have the record of the IFSC codes of Rabo bank.
Look for these codes on the Rabobank official website. It is yet another reliable source.
If you find it difficult to get the codes with the above ways, there is another easiest way. It is the Rabobank customer care service. You can directly contact the Rabobank customer care service and enquire about the IFSC and MICR codes.
Online fund transfers like NEFT, RTGS, and IMPS have become extremely popular in recent times. It saves you the time otherwise you would have spent on the long bank queues. Let's have a brief look at each of the procedures of Rabobank.
To transfer money through NEFT, you will need to have the following beneficiary information-
The data required for sending money via RTGS is the same. The central difference between the two is that RTGS is used to make high-value fund transfers.
To send money via IMPS, you will need the beneficiary MMID code, mobile number, account number, and the amount to be sent.
Rabobank is a Dutch multinational banking and financial service company. It has its headquarters in Utrecht, Netherlands. The whole financial group has 89 local Dutch Rabobanks, a central organization, and many international subsidiaries and offices.
Rabobank India has been operating since 1998, and the cooperative Rabobank U.A office is located in Mumbai, Maharashtra. The Rabobank India offers services like-
Yes, it is a safe and authorized bank. According to Global Finance Magazine, Rabobank is on the list of top five commercial banks in the world.
Rabobank adheres to the preservation of integrity through rules and regulations, applicable laws, and ethical standards in each market it operates in. The Rabobank employees are also expected to adhere to the standards, rules, and regulations.
Rabobank is a cooperative bank that provides financial services, capital management, leasing, insurance, and real estate.