Axis Bank IFSC Code and MICR Code

  The first four characters which form the first part of the code represent the name of the bank, the second part consisting of the fifth character '0' is for future reference, while the third part consisting of the last six characters of the code denotes the Axis Bank branch code.   

Significance of Axis Bank IFSC Code

The significance of Axis Bank IFSC code is as follows: 

1. The Axis Bank IFSC code uniquely identifies each branch for electronic fund transfers like NEFT, RTGS, and IMPS. 

1. This code enables secure and accurate routing of funds to the intended bank branch. 

1. It helps in quick, reliable processing of transactions by pinpointing the specific branch and account. 

1. It reduces the chances of errors in online transfers by directing funds accurately.

How to Search for Axis Bank IFSC and MICR Codes

There are multiple ways to search for Axis bank MICR and IFSC code. They are as listed below:

1. Axis Bank Website: You can visit the official Axis bank website and use their branch locator tool to find the MICR and IFSC codes for specific branches.

1. Mobile Banking App: You can also log in to the Axis Bank mobile banking app, where you can access branch details, including MICR and IFSC codes, under account information or through the "Branch/ATM Locator."

1. Bank Statement: Check your Axis Bank account statement, where the IFSC and MICR codes are usually mentioned on the first page.

1. Passbook: You can check your Axis bank passbook; it contains both the MICR and IFSC codes along with your account information.

1. Cheque book: The IFSC code is often printed on the top of the cheque leaf, and the MICR code can be found at the bottom near the cheque number.

1. Reserve Bank of India (RBI) Website: The RBI website provides a comprehensive list of IFSC codes for all banks, including Axis Bank.

1. Third-Party Financial Websites: Websites such as *BankBazaar* or *IFSC Code Finder* offer tools to search for MICR and IFSC codes by entering the bank name and branch location.

1. Contact Axis Bank Customer Care: You can also call Axis Bank's customer service for assistance with retrieving the MICR and IFSC codes for any specific branch.

How to Transfer Money Using Axis Bank: NEFT, IMPS & RTGS Procedures

NEFT: Working based on Deferred Net Settlement, NEFT transactions are handled in batches at explicit times set by Axis Bank. The NEFT fund settlements are done from 9 AM to 7 PM from Monday to Friday and as five batches from 9 AM to 1 PM on Saturdays (except on second Saturdays). Axis Bank does not have any minimum or upper limit for money transactions using NEFT. The cash will be credited to the recipient on the same day or on the next working day.

RTGS: The Real Time Gross Settlement System (RTGS) offers real time money transactions to Axis Bank clients. The settlement of cash is usually done by taking one instruction at a time. Yet this is one of the quickest modes of transfers existing today. The least amount that has to be transferred through RTGS is Rs.2 lakh. Also, the bank does not inflict any upper limit. Once the funds have been received by the receiver's bank, the money will be credited to the account cornered within a few hours.

The minimum and maximum transaction limits for NEFT and RTGS per day are given below:

Immediate Payment Service (IMPS): IMPS as the name suggests, is a prompt interbank electronic money transfer means. It can be accessed any time, day or night, from your home, thereby avoiding the hassle of going to the bank and standing in long queues. Clienteles can send and receive money via IMPS using their Mobile number submitted at the bank and the unique Mobile Money Identifier (MMID) given by the bank. Accordingly IMPS is generally categorized into two: Other ways of handling fund transfers are Internet Banking using the beneficiary's account number and IFSC code of his/ her bank branch. Apart from instant crediting, it requires little documentation and can be performed from any place with an internet connection.