We are fetching your Credit Score
It'll take less than 60 seconds
State wise list of Jp Morgan Chase Bank IFSC code, MICR code and addresses of all branches in India
(used for RTGS and NEFT transactions)
|MICR Code||MICR not provided.|
|Bank||JP MORGAN CHASE BANK|
or Choose State from list below
Technology has penetrated every aspect of our life, making it simpler each day. From shopping to education, everything is available online at the click of a button. Considering this, banking has not been an exception to this advancement. One of the most important services which are now available to customers, thanks to technological innovations, is the service of money transfer. The Reserve Bank of India has introduced two highly efficient services, NEFT and RTGS, for enabling online payments. NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are two online systems of fund transfer which have been facilitated by the RBI and allow customers to make fund transfer to any bank branch which is a part of the NEFT network. JPMorgan Chase, one of the leading financial organizations in the world, offers this service to its customers as well. Both these processes of money transfer make use of a special code known as the IFSC or Indian Financial System Code. This code is issued by the RBI to all banks which are a part of the NEFT network, to enable customers to make fund transfers with ease. The code helps the RBI in regulating the money transfers taking place and also helps identify the source and destination bank in the event of a transaction.
The IFSC code is an 11 character code which is made up of numbers and alphabets. The ode can be broken down into three part for better understanding. The first 4 characters denote the name of the bank, the fifth character is always zero (reserved for future use) and the last 6 characters represent the branch code. For instance, the JPMorgan Chase Bank IFSC code for the Mumbai branch is CHAS0INBX01 wherein the first 4 characters ‘CHAS’ represent the name of the bank i.e. JPMorgan Chase, the fifth character remains zero and the last 6 characters ‘INBX01’ represent the branch code for the bank which in this case is located in Mumbai.
If you are looking to transfer money to or from JPMorgan Chase Bank using NEFT or RTGS, you will require the IFSC code of the bank . You can find the IFSC and MICR code of the bank online and also on the cheque books. Every cheque leaf of the cheque book issued by the bank will carry the IFSC code of the issuing branch. Alternately, you may also find the IFSC code and MICR code of the bank online at the BankBazaar website. Simply visit the website and navigate to the bottom of the page where you will find a tab which reads ‘Bank IFSC Code’. Click on the tab and you will be redirected to another page which features 4 drop down menus. You will be asked to provide information pertaining to the bank you’re looking for, like the name of the bank, the state and district it is located in, and the specific branch of the bank that you’re looking for. Once you’ve made your selection from the given options, the page will immediately display the requested information i.e. the IFSC code, MICR code, address and also the contact details of the bank to aid your search.
JPMorgan Chase offers its customers the facility of NEFT and RTGS to make secure and speedy money transfers. Both these services make use of the IFSC code which is essential to make money transfer and also regulate electronic payment transactions.
NEFT for J.P. Morgan:
NEFT stands for National Electronic Funds Transfer, an electronic payment system introduced by the RBI to allow customers to make fund transfers to any account held with a bank which is a part of the NEFT network. NEFT has been a boon for modern day money transfer as it takes only a fraction of the time it would conventionally take one to transfer money. NEFT transactions are done of a net-deferred basis which means that transactions are bundled together and done in daily batches. The transactions are done by the bank on an hourly basis. While inward NEFT transfers are usually not charged by banks, outward NEFT transactions are usually charged but only at a very nominal amount, which makes NEFT one of the most economical and efficient ways to transfer funds. At present, there are over 30,000 bank branches in India which are NEFT enabled.
RTGS for J.P. Morgan:
RTGS, otherwise known as Real Time Gross Settlement is yet another system of electronic payments which has been facilitated by the Reserve Bank of India. Using RTGS, customers can make fund transfers and make payments with ease over a shorter period of time. RTGS is different from NEFT in some ways. First of all, RTGS makes fund transfers on a gross and real time basis. This implies that payments are processed as soon as the instructions for the same are received. Also, unlike NEFT, payments are not made on a net deferred basis but n a gross basis, which means that they are not bundled together. This in turn helps save considerable amounts of time as transactions are processed much faster and the funds can be transferred within a few hours or under. Also, while NEFT is ideal for making money transfers for smaller amounts, ideally, RTGS is far more ideal for making high monetary value fund transfers. As payments are settled on a real time basis, they are cleared immediately. Usually, banks have a minimum limit of Rs 20 lakh or more for RTGS transactions. RTGS transactions may also be charged as per the bank’s schedule of charges.
Headquartered in New York, JPMorgan Chase & Co. is an American multi-national financial services and banking organization. Known to be not only the largest bank functioning in the United states, JPMorgan Chase also enjoys the reputation of being the 6th largest public company in the world, and also the 6 th largest public banking organization internationally with assets amounting to a whopping US$2.6 trillion. The bank itself was founded at the turn of the century, in 2000, and was historically known by the name Morgan. They offer one of the most exhaustive range of the finest products and services pertaining to the finance and investment sector like asset management, wealth management, brokerage services, underwriting services, commercial banking, treasury & security services, commodities & commodity trading, risk management, consumer & corporate banking, retail banking & brokerage, equities trading, private banking & brokerage, forex, global banking, investment management, mortgage loans, prime brokerage, credit cards, finance, insurance and money market trading among various other services.
The United States’ biggest bank in terms of assets, JPMorgan Chase, is all set to make its presence felt in the US capital metropolis of Washington by opening up retail branches there. This will be the bank’s first foray outside its forte in years- a planned expansion that includes over a hundred branches in Washington and the surrounding areas over the course of the next five years. The US federal authorities are still to sign off on this proposed plan, however, the prospects look bright for the banking behemoth that has to still contend with the fact that more and more of its customers are now banking online. On a domestic note- could this signal JPMorgan’s designs at a global level? Could India be next? Indians for sure will not mind the addition of a couple of more IFSC codes from this influential bank. Just saying!!
23rd July 2015