Andhra Bank IFSC Code is used by Andhra bank to facilitate its customer with quick fund transfer services. IFSC code helps in identifying the bank branches that participate in popular fund settlement processes: NEFT and RTGS. Andhra Bank IFSC Code is an 11-digit code which is a mix of alphabets and numbers. Each branch has a unique IFSC code and it differs from each other. Likewise, the IFSC code of receiver branch is required to make a transaction to a different bank branch. IFSC code helps ensure safe transactions through National Electronic Funds Transfer (alternately NEFT), Real Time Gross Settlement (alternately RTGS), Immediate Payment Services (alternately IMPS), Centralized Funds Management System (alternately CFMS) or bank-to-bank electronic Instant Mobile Money Transfer service. Andhra Bank IFSC Code has three components; the first four alphabets identify the bank, the next letter is always a Zero. The last six digits specify the address of Andhra Bank branch, which is always unique. For instance, Andhra Bank IFSC for Vasant Kunj, New Delhi branch is ANDB0002805; for the branch in Shalimar Bagh, New Delhi, the IFSC is ANDB0002188 and Andhra Bank Rajouri Garden branch IFSC code is ANDB0001638. Therefore, if one needs to transfer the fund to a different bank branch, then the exact IFSC code of that branch is required. Thus, Andhra Bank IFSC Code ensures that the funds go to the right person securely and in-time.
How to transfer Money Using Andhra Bank NEFT, RTGS and IMPS Process?
As safe transactions are a concern for everybody, Andhra Bank ensures timely and safe transfer process by providing its customers with processes like NEFT, RTGS, IMPS, etc.
Real Time Gross Settlement (RTGS)
Real Time Gross Settlement is a super quick process of transferring funds from one bank branch to another. The transactions are done in real-time with a faster settlement cycle. This facility is offered to savings or current account holders.
How to Register for IMPS with Andhra Bank
Below are the tips on how to register for IMPS with your bank: First, register for the banking services made available for smartphones. You and the recipient will need to have the MMID and MPIN from the bank Now, download the application form from the official website of Andhra Bank or use the ‘SMS’ facility if your bank offers IMPS on SMS. However, if you want to know the code without creating an account, you can do so via the internet. There is an official website of IFSC code where you can know all about this code.
How to Find Andhra Bank IFSC & MICR Codes?
Finding Andhra Bank IFSC Code is easy. If you have an account with Andhra Bank, then you can find the IFSC code printed on your chequebook as well as on the front page of your bank passbook. In case you don’t have a chequebook or passbook, then have a go at the drop down menu available on the top of this page, select the relevant options and get the IFSC code of the desired branch of Andhra Bank.
National Electronic Funds Transfer (NEFT):
National Electronic Funds Transfer (NEFT) enables one to transfer funds online from one bank to another. It ensures hassle-free fund transfer in less time. NEFT facility is available for the customers who have savings/current accounts with the bank. By paying a minimal charge, an account holder can remit the funds to another bank account in a few hours. However, the process of fund transfer is time-bound and it takes place in batches and not in real-time.
Immediate Payment Service (IMPS)
Immediate Payment Service, or IMPS, is a smooth online fund transfer service, which makes banking more convenient. With IMPS, an account holder can send or receive money from another source instantly. The best part is that it works on public holidays and Sundays as well.