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Greater Bombay Coop Bank IFSC and MICR Code:

State wise list of Greater Bombay Coop Bank IFSC code, MICR code and addresses of all branches in India

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The Greater Bombay Co-operative Bank (Greater Bank) IFSC Code

Not too long ago, transferring money meant having to endure serpentine queues and a long wait for the money to get credited. That is a thing of the past now with the advent of internet banking services like the NEFT (National Electronic Fund Transfer) and the RTGS (Real Time Gross Settlement). Introduced by the Reserve Bank of India (RBI) with the aim of speeding up the fund transfer process, these services are the quickest means of sending money wirelessly throughout the country. The NEFT network is a group of all the bank branches in the country that offer this service. A customer can send money via this medium by merely inputting the bank details along with the IFSC code of the recipient’s bank branch. The transfer is done in a very short span of time and is one of the most secure means of sending money.

An IFSC code is a unique code issued by RBI to bank branches within the NEFT network that helps in identifying the originating bank as well as the receiving bank in a particular transaction. It also helps RBI to monitor the online transactions taking place within the country.

The code is 11 characters in length and it comprises of both letters as well as numbers. The first four characters are letters denoting the name of the bank, the fifth character is the numeral zero, which is left blank for use at a later date, and the bank branch number brings up the rear. To illustrate, the IFSC code of the Greater Bank branch in Churchgate, located in Mumbai, Maharashtra is GBCB0000024. “GBCB” denotes the name of the bank, viz. Greater Bombay Co-operative Bank, the fifth character is “0”, and “000024” is the code for the Churchgate branch.

How Do I Search for IFSC and MICR Codes for Greater Bombay Co-operative Bank (Greater Bank)?

IFSC and MICR codes are easily available on multiple platforms. The code for a particular branch can be found on the leaves of cheque books issued by the branch. The Greater Bombay Co-operative Bank also has the codes listed on its website. If you’re looking for the IFSC and MICR codes of all the branches registered on the NEFT network, then websites like BankBazaar are the way to go. Just scroll to the bottom of the homepage and click on the “Bank IFSC Code” tab. Just enter the name of the bank whose IFSC code you are looking for and select the state, district and branch name from the drop down menus. The branch’s IFSC and MICR codes will appear on the screen, along with information like the address and contact number.

Greater Bombay Bank’s NEFT and RTGS services are a safe and secure way to make online money transfers. Using these services is a very simple process. Given below are a few pointers on how you can use them.

NEFT (National Electronic Fund Transfer):

The NEFT facility offered by Greater Bombay Bank is a convenient way to make online money transfers to anywhere within the country. Besides being a safe alternative, it is also quicker than the conventional money transfer methods of a cheque or a demand draft. An added benefit is its affordability, given its prompt settlement.

Bank customers can avail of the NEFT services from Monday to Saturday during hours as specified by RBI. The transfer requests would be settled in 11 hourly batches over the course of the day. The service is not available on the second and fourth Saturdays and on bank holidays. For transfer requests received after the close of NEFT service hours, or those received on bank holidays, the bank would process the requests on the following working day.

Any amount of money can be transferred using the NEFT facility, as there is no upper limit nor a lower limit.

There is no charge on inward NEFT transactions. The rates charged by the bank for outgoing transactions made using this service are given below:

Transaction Amount

Charges

Up to Rs. 1 lakh

Rs. 5 for every transaction

Above Rs. 1 lakh – Rs. 2 lakh

Rs. 18 for every transaction

Above Rs. 2 lakh

Rs. 29 for every transaction

RTGS (Real Time Gross Settlement):

The RTGS facility is the fastest money transfer channel in the country. It is a safe and efficient way to send large sums of money electronically to any branch in the country part of the NEFT network. As the name suggests, this facility is a “real- time” money transfer service, where the fund transfer takes place as soon as the request is processed by the bank. The transactions are also settled on a “gross” basis, where each transaction is individually cleared as soon as it is processed. Once an RTGS request is made, it is final and cannot be taken back. While there is no upper limit on the amount that can be sent at a time, there is a lower limit of Rs. 2 lakh per transaction.

RTGS facilities are available to bank customers from Monday to Saturday during the times as stipulated by RBI. The service is not available on bank holidays and on the second and fourth Saturdays.

There is no charge on money received through RTGS transactions. The charges levied by the bank for sending money via RTGS is as follows:

Transaction Amount

Charges

Above Rs. 2 lakh up to Rs. 5 lakh

Rs. 29 for every transaction

Above Rs. 5 lakh

Rs. 58 for every transaction

The Greater Bombay Co-operative Bank, known as the Greater Bank, was set up in 1952 in the State of Bombay with the intention of serving the community through banking services. The bank was registered as a Scheduled Bank in 1996 and has grown from strength to strength since then. It operates 22 branches across the Mumbai metropolitan area and provides financial services such as loans, deposits, demat and insurance to its customers.


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