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Nasik Merchants Coop Bank IFSC and MICR Code:

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

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Nasik Merchant’s Co-operative Bank (NAMCO) IFSC Code:

Internet banking has made leaps and bounds from its limited access a few years ago, and with greater connectivity across India, a large number of Indians can now access their accounts remotely, 24 x7. If you’re looking for a quick way to transfer money that’s also safe, then the NEFT and RTGS facilities offered by the Nasik Merchants Co-operative Bank (NAMCO) should be your choice. The National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) services are the fastest means of money transfer, besides being a secure way to send money to another account within the country. The services are wireless and fund transfers are conducted online, making it easier for individuals and corporate entities to seamlessly move funds domestically. Started by the Reserve Bank of India to facilitate greater online transfer accessibility, the services can be used to transfer money to any bank branch that is a part of the NEFT network. These branches are assigned an IFSC (Indian Financial Systems Code), which helps in identification of the payee and the recipient’s bank branches in a transaction. The code also helps RBI to monitor the online transfers taking place in the country.

The IFSC code is a unique 11 character code that consists of both numerals as well as alphabets. The first four characters are letters representing the bank name. The fifth character is the number “0”, which is left blank for later use. The last six characters are numbers assigned to the specific branch. To illustrate, the NAMCO branch located in Igatpuri, Nashik district has an IFSC code that is NMCB0000016. Here, “NMCB” represents the bank name, the fifth character is “0 and “000016” denotes the particular branch in Igatpuri.

How to Search for Nasik Merchants Co-operative Bank (NAMCO) IFSC and MICR Codes?

The IFSC and MICR codes for a particular bank can be found through various mediums, both online as well as offline. The bank’s official website has a list of all the branches with their IFSC codes. The bank also prints the code on the cheque book leaves of cheque books issued at branches. The code can be found on the passbooks issued at the bank’s branches as well.

Another way to find the codes is through websites like BankBazaar. Click on the “Bank IFSC Code” tab towards the bottom of the homepage. A new page will open, where you have to enter the name of the bank. Select the relevant information for state, district and branch name from the drop down menus. The IFSC and MICR codes will appear onscreen, with information on the branch such as branch code, address and contact number.

Transferring funds using the NAMCO NEFT and RTGS services make fund transfer a simple and convenient process. The services are a safe mode of money transfer domestically, in addition to being affordable. Given below are the ways you can use these services to transfer funds.

NEFT (National Electronic Fund Transfer) for NAMCO:

The NEFT service is available to NAMCO customers from Monday to Saturday during banking hours. To complete the transfer, you would have to enter the IFSC code of the specific bank branch, along with details such as recipient’s name, account number, transfer amount as well as the bank branch and IFSC code. Transfer requests made during this time are processed in hourly batches, with the first batch beginning at 8:00 am. The service is not available on the second and fourth Saturdays and on bank holidays. Transfer requests received on these days or after the cut off time are processed on the next working day.

There is no lower or upper limit on the amount that can be transferred using NEFT. The charges for the services are listed below:

Amount

Charges

Up to Rs. 10, 000

Rs. 3 for every transaction

Rs. 10, 001 to Rs. 1, 00, 000

Rs. 6 for every transaction

Rs. 1, 00, 001 to Rs. 2, 00, 000

Rs. 17 for every transaction

Rs. 2, 00, 001 and above

Rs. 28 for every transaction

RTGS (Real Time Gross Settlement) for NAMCO:

The RTGS service is used to transfer funds that are above Rs. 2 lakh. There is no upper limit on transfers made using this service. It is the fastest mode of money transfer in the country, with the funds being transferred within two hours of the transfer request being made. The transfers are done as soon as the request is cleared by the bank, and every transaction is settled on an individual basis. For these reasons, once the transfer request is made, it cannot be taken back.

The RTGS service offered by NAMCO is available to its customers from Monday to Saturday. RTGS service charges are given below:

Amount (for outward remittance)

Service charge

Rs. 2, 00, 000 – Rs. 5, 00, 000

Rs. 30 for every transaction

The Nasik Merchants Co-operative Bank Ltd., or NAMCO as it is better known is a Scheduled Bank with its main branch located in Nashik. Set up in 1959 to provide banking and financial services to the common man, the bank has grown from strength to strength. Its humble origins belie its current strength of 81 branches across Maharashtra and Gujarat. It achieved Scheduled Bank status in 1996 and provides a host of services to its customers such as loans, deposits, insurance, Aadhaar card linking as well as franking and fund transfer services.


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