State wise list of Bank Of Bahrain And Kuwait IFSC code, MICR code and addresses of all branches in India
(used for RTGS and NEFT transactions)
|MICR Code||MICR not provided.|
|Bank||BANK OF BAHRAIN AND KUWAIT|
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Money transfers, which used to be a long drawn out and expensive process earlier, are now faster, quicker and safer thanks to online banking. Money can be transferred securely in a matter of a few hours with the NEFT and RTGS services. Introduced by the Reserve Bank of India to speed up the fund transfer process, these services are now widely used across the country.
The National Electronic Fund Transfer (NEFT) and the Real Time Gross Settlement (RTGS) provide an alternative to traditional transfer services such as cheques and money orders, which take longer and are also more expensive.
Those looking to send money using these mediums can do so with minimum hassle, as they do not require lengthy forms to be filled out. All individuals have to provide are the beneficiary’s details such as his name, bank account details and the IFSC code of his bank branch.
The IFSC (Indian Financial Systems Code) is a feature introduced by the RBI to facilitate smoother transactions using the NEFT and RTGS services. The IFSC code is a unique code assigned to every bank branch that is part of the NEFT network. Branches that are part of his network can make wireless fund transfers anywhere within the country using the NEFT and RTGS services. With the rapid spread of online banking services in the country, most bank branches are now a part of the NEFT network.
The IFSC code is an 11 character string of alpha-numeric characters. The first 4 of these comprise the bank name, the fifth is left blank for future use and the remaining 6 characters make up the numeric code. For example, the Bank of Bahrain and Kuwait branch in Mumbai, in the state of Maharashtra is BBKM0000001, where “BBKM” represents the bank’s name, “0” is left blank and “000001” is the code assigned to the Mumbai branch.
The IFSC and MICR codes of a particular bank branch are very important when making an online money transfer request. An error would result in the transaction not going through. To ensure you enter the correct IFSC code, it is advisable to check and see that you have the code for the specific branch.
If you’re looking for the IFSC and MICR codes for a particular bank branch, you can find them both offline as well as online. If you’re looking offline, you can find the code printed on the first page of passbooks issued at the bank branch. The code is also printed on cheque books issued at the bank branch.
For those looking for the codes online, you can find them on the bank’s official website. You can also find the codes for all banks branches part of the NEFT network on BankBazaar. Just visit the homepage and select the “Bank IFSC” tab. You will be taken to a page where you will have to fill in details such as the bank name, state, district and the branch name. After submitting this information, you will be presented with the IFSC and MICR codes for the particular bank branch.
Transferring funds using the NEFT and RTGS services assure a fast and secure process. Besides being the fastest means of money transfer in the country, they also have a number of security measures, safeguarding against fraud or any error.
National Electronic Fund Transfer (NEFT) for BBK:
Customers with the Bank of Bahrain and Kuwait (BBK) can avail the NEFT facility Monday to Saturday during baking hours as specified by RBI. The service is not available on bank holidays (including the second and fourth Saturdays in a month). Transfer requests made after banking hours and on banking holidays will be processed on the next working day.
NEFT transactions are settled in bundles in hourly batches, and there is no minimum or maximum limit on the amount that can be transferred at any point of time.
There is no charge on money received through NEFT. The bank charges a fee for transfers made through NEFT, which are mentioned below:
|Up to Rs. 1, 00, 000||Rs. 5 for each transaction|
|Rs. 1, 00, 001 – Rs. 2, 00, 000||Rs. 15 for each transaction|
|Above Rs. 2 lakhs||Rs. 25 for each transaction|
Real Time Gross Settlement (RTGS) for BBK:
Real Time Gross Settlement (RTGS) services can be used to transfer money safely and securely anywhere within the country. The services can be used by Bank of Bahrain customers form Monday to Saturday during banking hours. The service is not available on second and fourth Saturdays and on bank holidays. Requests for money transfers received on holidays or after the close of baking hours will be settled on the following working day.
RTGS is the fastest way to wirelessly transfer money, in addition to its being a very secure service. There is no upper limit on the amount that can be transferred at a time, but there is a minimum amount of Rs. 2 lakh.
There are no charges for money received through RTGS. The bank charges its customers a fee for money that is sent through the RTGS service, which is mentioned below:
|Rs. 2 lakh- Rs. 5 lakh||Rs. 25 for each transaction (additional Rs. 5 per transaction for requests received after 15:00 hours)|
The Bank of Bahrain and Kuwait is a commercial scheduled bank that was set up in 1971 in the Kingdom of Bahrain. The bank set up its operations in India in 1986 and has steadily expanded, currently operating out of 5 branches in India. The bank provides its customers with a range of services and facilities across retail, commercial and personal banking. The bank’s products and services include treasury products, deposits, NRI services as well as online money transfers.
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