The Indian Financial System Code or the IFSC code is essential for an online fund transfer. This system helps identify the exact location of the source bank and destination bank. With this code, money can be transferred electronically from one bank to another in a quick manner, devoid of hassles.
The Usage of IFSC code
The IFSC code of a particular bank and its branch like the Dhanalakshmi Bank Thrissur IFSC code is mainly used for electronic fund transfer applications like Centralized Fund Management System (CFMS), Real Time Gross Settlement (RTGS) or National Electronic Fund Transfer (NEFT) and Instant Mobile Money Transfer Services (IMPS) When the IFSC code of a bank like the Dhanalakshmi Bank IFSC code is used, the beneficiary’s account is directly credited with the amount. With an electronic fund transfer, one can avoid the process of dispatch of cheques physically. Therefore, the money can be transferred instantly. 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.