State wise list of Andhra Bank IFSC code, MICR code and addresses of all branches in India
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IFSC codes have been allotted to all the branches of Andhra bank in India to easily identify transactions done through a particular branch of the bank. Andhra Bank IFSC Code has made online cash transactions a quick and easy affair. IFSC codes are alphanumeric, 11-digit codes, which are unique to a single branch and do not ever repeat. Money transfers can be done to a particular branch by compulsorily entering IFSC codes. These codes also helps users ensure that the transferred funds go to the right person, without any hassles.
Indian Financial System Code (IFSC) is utilized for electronic payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IPM), a bank-to-bank electronic Instant Mobile Money Transfer service (IMPS), and Centralized Funds Management System (CFMS) designed by Reserve Bank of India (RBI).
The Reserve Bank of India has assigned separate codes to all banks in India and mandates their usage for all online transactions. An IFSC code can be explained as carrying three different segments. The first four alphabets represent the name of the bank to which the code has been assigned. Then comes a zero which is generally a control character, left for future use. The next six digits of the code signify the specific branch of Andhra Bank and this is always unique. The last six digits change with every branch available.
Given below is an example of an Andhra Bank IFSC Code:
“ANDB0000091” - IFSC Code for the Andhra Bank Branch in Cooke Town in Bangalore
IFSC codes can be easily procured if the bank’s full name and the branch is known. Andhra Bank IFSC Codes are printed on cheque leaves issued by the bank to their clienteles. The Reserve Bank of India site also offers the complete list of IFSC codes and MICR Codes required for customers. Customers can get IFSC codes from the official bank website, a third party financial website or a comparison website for financial products and services.
BankBazaar is one such comparison website that gives you detailed information related to IFSC codes and MICR Codes for Andhra Bank on its web portal. Go to the main page of BankBazaar and scroll down to the bottom. You can spot the Bank IFSC Code link. Once you click on this link, you will be lead to a page where four dropdowns can be accessed. Users have to choose the specific bank, state, district and the regional branch to find the IFSC code for whichever branch you want. The table that is created also entails details like MICR code, name of the branch complete with contact details.
Andhra Bank clienteles can conveniently make online fund transfers by using NEFT or RTGS services, available on the bank’s website.
National Electronic Funds Transfer (NEFT):
National Electronic Funds Transfers (NEFT) are done in batches and have a specific timing within which the funds are settled by Andhra Bank. This process works based on Deferred Net Settlements and is done on an hourly schedule. The money is credited to the beneficiary on the same day, if the batch clearance is within the stipulated time frame. Otherwise the money is credited on the next working day.
Real Time Gross Settlement System (RTGS):
Real Time Gross Settlement System (RTGS) transfers are done on an individual transaction basis, i.e., the clearance of funds are schedules one by one. As per the standing instructions set, Andhra Bank usually settles RTGS transactions within the same working day. RTGS is one of the fastest modes of fund transfers available and can be performed on completely secure platforms.
Information required for Funds Transfer using any Payment Mode:
While making a NEFT or RTGS transaction with Andhra Bank, customers need to provide the below information:
This leading bank in the Deccan plateau was founded by renowned freedom fighter and visionary, Bhogaraju Pattabhi Sitaramayya in 1923 with a paid up capital of INR 1 lakh. Today, this medium sized public sector bank is a leading bank in South India, combing key towns and cities in this region. Listed on both NSE and BSE, Andhra bank offers an array of banking and financial services to millions of customers in India. Together, Andhra bank has more than 2350 branches globally including India served by a strong staff of over 20,000 employees. With its headquarters in Hyderabad, the joint capital of Telangana and Andhra Pradesh, the bank also has representative offices in foreign locations, primarily based in UAE and USA. In the consumer banking division, it offers a full range of deposit services that includes Savings & Current Account, Fixed Deposit and Recurring Deposit services for all categories of customers.
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