HDFC Bank IFSC Code & MICR Code

How to Find HDFC Bank IFSC & MICR Codes

Those who are searching for HDFC Bank IFSC or MICR code can find it online on a number of third-party websites. Even the bank website can be visited for the same information. MICR, expanded as Magnetic Ink Character Recognition Code, is usually printed on the bottom half of the cheque leaf. IFSC code and MICR code can also be found on the first page of the bank passbook.

This is used to clear cheques in a faster and error-free manner. Apart from this, both the keys are printed on the cheque leaf that is issued by the bank. Therefore, the customer can find this information also through this means.

One can also find all bank IFSC and MICR codes on the BankBazaar website at the click of a button. The following are the steps involved to search for the 11-digit key:

1. First visit the BankBazaar website and click on the 'Bank IFSC Code' option that can be found on the bottom half of the page
2. This will redirect the user to the IFSC main page, where there will be four drop down options
3. Here, the user will have to choose the name of the bank, the branch, the location of the bank ie: state or district
4. After the user chooses all the respective option in the drop down menu, the site will automatically display the bank IFSC code along with the MICR code, address of the specific branch and also the phone number.

How to Transfer Money Using HDFC Bank: NEFT, RTGS, and IMPS Explained

With HDFC Bank, you can make easy and safe fund transfers not only to other branches of HDFC Bank, but also to any bank branch. You can transfer money using NEFTs, RTGSs and IMPSs not only to your other HDFC accounts, but also to accounts held with any other bank.

Understanding National Electronic Funds Transfer (NEFT)

HDFC introduces e-Monies National Electronic Funds Transfer, an electronic fund transfer facility which allows for easy, hassle free and convenient money transfer. National Electronic Funds Transfer (NEFT) is a popular electronic payment system that enables customers to transfer funds between banks in India. HDFC Bank provides NEFT services for for transactions up to a maximum amount of Rs. 5 lakhs. making it a convenient option for smaller transactions. The process for initiating an NEFT transfer is straightforward and mirrors that of Real-Time Gross Settlement (RTGS).

How to Do NEFT Transfer from HDFC Bank

• Obtain the Fund Transfer Instruction Form: To start an NEFT transaction, visit your nearest HDFC Bank branch and request the Fund Transfer Instruction form.  
• Fill Out the Form: 

1. Name of the Recipient: Enter the full name of the individual or entity you wish to transfer money to. 

1. Account Number and Type: Specify the recipient’s bank account number and the type of account (savings, current, etc.). 

1. Bank Name, Branch, and IFSC Code: Include the name of the recipient’s bank, the specific branch, and the IFSC (Indian Financial System Code) which is crucial for identifying the bank branch where the money will be sent. 

1. Transfer Amount: Indicate the exact amount of money you wish to transfer. 

1. Remarks for the Recipient: Optionally, you can include a brief note or message for the recipient, which can help them identify the purpose of the transfer.

3. Submit the Form: Once you have filled out the form, you can submit it in person at the bank counter. The bank representative will review the information for accuracy and initiate the transfer.  

Alternatively, you can use HDFC Bank’s online banking platform to complete the transaction electronically, making the process even more convenient. 

HDFC Bank NEFT Charges & Fees Explained

HDFC Bank charges a nominal fee for NEFT transactions, which varies depending on the amount being transferred. The charges are as follows: 

These charges are competitive, and there may be additional taxes applicable based on current government regulations. Always verify the total amount before proceeding with the transaction. 

HDFC Bank NEFT Timings for Transactions

NEFT online services are available 24 hours a day on all days of the week. NEFT transactions through branches are available according to the branch's working hours

What is RTGS? HDFC Bank Guide

RTGS or Real Time Gross Settlement is another quick money transfer method where the transfers are made in real-time. RTGS transactions also have faster settlement cycles as there is no inter-bank or Clearing house settlement issues. RTGS transactions are also not restricted to the geographical limits of India.  

There are no transaction limits on transactions done via the branch. However, for new banking transactions, a daily limit is set at Rs 2 lakh and up to Rs 50 lakhs.

How to Make RTGS Transfer from HDFC Bank

1. You can initiate an RTGS transfer through two main channels:

Net Banking: Log in to your HDFC Bank online banking account.

Branch Visit: Alternatively, visit your nearest HDFC Bank branch to complete the transaction in person. 

2. Obtain and Complete the Fund Transfer Instruction Form: 

If you choose to visit the bank branch, request the Fund Transfer Instruction form at the counter. Fill out the form with the following details: 

Name of the Recipient: Provide the complete name of the person or entity receiving the funds. 

Account Number and Type: Enter the recipient's bank account number along with the type of account (e.g., savings or current). 

Bank Name, Branch, and IFSC Code: Specify the recipient's bank name, branch, and the IFSC (Indian Financial System Code) to ensure accurate routing of the funds. 

Transfer Amount: Clearly state the amount you wish to transfer. 

Remarks for the Receiver: Optionally, you can include a note for the recipient to clarify the purpose of the transfer. 

3. Submit the Form: 

Once you have completed the form, submit it to the bank representative if you are at the branch. If you are using net banking, follow the prompts to complete the transaction online. 

HDFC Bank RTGS Charges & Fee Structure

These charges are applicable per transaction and do not include any additional taxes that may be levied based on prevailing regulations. It’s advisable to confirm the total charges before proceeding with your transaction. As for RTGS transactions done online, there are no charges.

Immediate Payment Service (IMPS): How It Works

IMPS  is another instant inter-bank electronic fund transfer service, offered by HDFC bank. With IMPS, customers can easily send or receive funds, not only on weekdays but Sundays and bank holidays as well. 

As the name suggests, via IMPS transfers, the money gets credited to the receiver’s account instantly. Charges for IMPS transactions are as follows: