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HSBC IFSC and MICR Code:

State wise list of HSBC IFSC code, MICR code and addresses of all branches in India

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HSBC IFSC Code:

Earlier, transferring money from one bank account to another used to be a long process, where you had to visit the bank branch to make a transfer and then wait till it was processed. This is now a thing of the past with the NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) facilities offered by HSBC. An initiative by the Reserve Bank of India (RBI) to expedite online money transfers across the country, these services allow individuals to send money using a quick and secure means. To facilitate transactions using either NEFT or RTGS, an individual would have to enter the IFSC code of the recipient’s bank branch. This IFSC code is a unique code that is issued to every bank branch that is within the NEFT network. This helps the RBI to regulate the online transactions that take place, and it also helps in identifying both the origin as well as the destination banks involved in the transaction.

The IFSC code is a string of 11 characters containing both alphabets as well as numbers. The bank’s name makes up the first four characters, while the fifth character is zero. The bank branch number makes up the last six characters. For example, the IFSC code for the HSBC branch in Jayanagar, Bangalore, Karnataka is HSBC0560003. Here, “HSBC” indicates the bank, the fifth character is 0 and “560003” indicates the number for the specific branch in Jayanagar, in Bangalore district in Karnataka state.

How Do I Search for HSBC IFSC and MICR Codes?

Finding the IFSC and MICR codes for a particular bank branch is a very simple process. HSBC prints the IFSC Code of its bank branches registered on the NEFT network on the cheque books issued by the particular branch. This information is also available on its website. Another way to locate the IFSC codes are through pages like BankBazaar. Just go to the homepage and select the “Bank IFSC” icon at the bottom of the page. Enter the details requested on the page, starting with the bank name. Enter the other fields like state, district and branch name by selecting the options from drop down menus. On entering all the information, the IFSC and MICR codes appear on the screen.

Transferring money online has become safer and faster with the advent of the NEFT and RTGS methods of wireless transfer. Both the facilities assure security and are the quickest means to move funds within India. Given below are ways you can use both services to facilitate an electronic money transfer.

NEFT (National Electronic Funds Transfer):

The National Electronic Funds Transfer services are available to HSBC customers from Monday to Saturday from 8:00 am to 7:00 pm. This service is not available on holidays and on second and fourth Saturdays every month. The transfer requests will be processed in hourly batches daily. However if requests are received after 4:15 pm, the transfer would be processed on the next working day.

HSBC customers can avail this service online or by visiting a branch. There is no upper or lower limit on NEFT transfers, however there is an upper limit of Rs. 15 lakhs in a day on transactions made online. For any transactions above Rs. 15 lakhs, customers would have to visit their nearest branch.

HSBC charges for providing this service to its customers, the rates are mentioned below:

Amount

Charges

Till Rs. 10, 000

Rs. 2.50 for every transaction

Rs. 10, 001 – Rs. 1,00,000

Rs. 5 for every transaction

Rs. 1,00,001 – Rs. 2, 00, 000

Rs. 15 for every transaction

Rs. 2,00,001 and above

Rs. 25 for every transaction

RTGS (Real Time Gross Settlement):

Real Time Gross Settlement is the fastest means of money transfer in India. The money transfers are processed as soon as the request is made, that is, on a “real time” basis. Each transaction is made individually and multiple transactions are not grouped or bundled together. This feature means that once a request for an RTGS transaction is made, it is final and cannot be taken back. The minimum amount that can be transferred through this medium is Rs. 2 lakhs. There is no upper limit. HSBC limits the amount of money that can be transferred each day by an individual to Rs. 15 lakhs. For those who wish to transfer amounts higher than this, they would have to visit an HSBC branch and make their transaction.

RTGS facility is available to HSBC customers from Monday to Saturday between 8:00 am to 4:00 pm for same day credit. In case transfer requests are received after 4:00pm, or on holidays, they would be processed on the following business day. This facility is not available on second and fourth Saturdays.

HSBC charges for RTGS facility are as follows:

Amount

Charges

Rs. 2, 00, 000 – Rs. 5, 00, 000

Rs. 25 for every transaction

Rs. 5, 00, 001 and above

Rs. 50 for every transaction

The Hong Kong and Shanghai Banking Corporation Limited or HSBC, as it is better known, is a leading banking and financial services provider with a global presence. The bank was established in 1865 in Hong Kong and is currently headquartered in London. With a presence in 72 countries through it’s over 6000 offices, the bank provides retail banking, global banking, wealth management and commercial banking as also private banking. The bank is renowned for its service quality and for going the extra mile when it comes to providing banking services to its customers.

News Related to HSBC Bank IFSC Code
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    HSBC customers will now be able to open accounts and submit selfies for identity verification. A mobile app that uses facial recognition software takes a headshot of the individual and compares it with a photo id (driver’s license, passport, etc.) uploaded by him.

    This innovation is expected to simplify and accelerate the process of opening a new account through a mobile or digital device. This is also in alignment with the increasing inclination of customers to open accounts online. Almost 50% of all HSBC accounts are now opened online when compared to 10% in 2013.

    HSBC is the latest bank to improve security through biometric technology. The biometric space is cheaper and more convenient for customers, but is challenging to implement. So it still has a long way to go before becoming the norm for authentication.

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  • HSBC Bank Introduces 'HSBC Skills for Life'

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    23rd December 2015

  • HSBC FASTrak - A Boon for FIIs

    Hongkong and Shanghai Banking Corporation (HSBC) has launched FASTrak which offers easy solutions that decreases the market level hurdles of overseas investors. This tool has been developed as a result of comprehensive feedback from FPIs and is aimed at decreasing the procedural complexities and exhaustive documentation requirements. These challenges are significantly reduced with the storage of key documentation and quick identification. Investors, after categorizing themselves, can complete a list of required documentation and can perform validation checks to store all data on a single platform.

    A trailblazer in banking technologies, HSBC offers investment and banking solutions for Indian customers. With features like Net Banking, HSBC customers can complete complex transactions like fund transfer from the comfort of their home using NEFT by just mentioning the IFSC code and account number of the beneficiary. Also, with the Net Banking facility, customers can maintain their accounts, manage cards, view balances and get account statements.

    3rd December 2015


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