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Sumitomo Mitsui Banking Corporation IFSC and MICR Code:

State wise list of Sumitomo Mitsui Banking Corporation IFSC code, MICR code and addresses of all branches in India

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Sumitomo Mitsui Banking Corporation (SMBC) IFSC Code:

Internet is like a giant acromantula - spinning thick webs, fast and ceaselessly to accommodate anything and everything under the sun. Online banking and instant cash transfers are just tip of the iceberg. In India, cash transfers from one account to another are managed directly by RBI. Each bank branch part of this network is allotted an IFSC Code for this purpose. Sumitomo Mitsui, a reputed Japanese bank, is also part of the IFSC network. For instance, if you want to know the IFSC Code of Sumitomo Mitsui Banking Corporation (SMBC) New Delhi branch, a Google search or a direct enquiry will inform you that it is SMBC0000001. And the MICR Code for the branch is 110240270.

How to Search For Sumitomo Mitsui Banking Corporation (SMBC) IFSC & MICR Codes?

Any person, SME, corporates or retail in India, with or without a bank account in Sumitomo Mitsui shall make payments via NEFT and RTGS systems. This is made possible, thanks to the IFSC Code specially designed by RBI to monitor transactions.

The MICR and IFSC codes of any SMBC office in India can be obtained in the blink of an eye. Firstly, the IFSC Code of your branch is usually printed on your account passbook as well as on each cheque leaves. Official online portals of RBI and that of Sumitomo Mitsui Banking Corporation can get you the required IFSC Code. You can also look it up at umpteen third party websites like BankBazaar, where you can access other details like physical address of the bank. For those who are not comfortable with online info, they can merely call at the nearest branch and ask for the MICR or IFSC Code.

Sumitomo Mitsui Banking Corporation offers their considerable clientele the choice of NEFT and RTGS to make instantaneous and stress-free cash transactions to and from any part in India. Both these banking modes make use of the unique alpha-numeric code called IFSC assigned to each branch by the RBI.

National Electronic Fund Transfer (NEFT) at Sumitomo Mitsui Banking Corporation:

National Electronic Fund Transfer or NEFT has been brought together by the Reserve Bank of India to simplify and assist electronic money transfers. The minimum amount you can transfer is INR 1 and the maximum amount is INR 10 lacs. Cash is credited in the payee’s account in one to two days. Of course the bank has to be a part of the NEFT system as listed by the RBI.

Presently, there are hundreds of lenders throughout the nation with strong presence in every part. Sumitomo Mitsui handles NEFT fund transactions in eleven bunches on Monday to Friday and in five batches on Saturdays (except on bank holidays). Using the NEFT method, Sumitomo Mitsui clients can transact money to and from any account with no trouble. All you have to do is collect a form (Fund Transfer Instruction Form) from your nearest branch and fill the required details like account type and number of the payee, IFSC Code of the beneficiary’s branch and so on carefully.

Real Time Gross Settlement (RTGS) at Sumitomo Mitsui Banking Corporation:

Real Time Gross Settlement, or RTGS as it is widely known, is the second portal managed by the Reserve Bank to assist bank account users in India to make electronic payments. Rather than paying using cheques, which could be a tad inconvenient at times, RTGS permits lenders to transact cash using online or web messages which are transmitted to the RTGS Payment Gateway of RBI. This is nothing like clearing a cheque as RTGS method is super quick (less than two hours). It is also the safest means to transfer cash from one account to another in any bank in India. The recipient gets the message soon after the account is credited.

As a cost-effective mode of money transaction, RTGS is the mode to utilize if you are planning to transfer INR 2 lacs and above. As of now there hundreds of lenders and financiers with their omnipresent branches peppered throughout the country as part of the RTGS system. Initiating an RTGS transaction is quite simple. If you are the one sending the money, you are called as the remitter or payer. You are expected to notify the beneficiary’s bank to withdraw money from yours and accordingly credit the other party’s account with that sum.

Making an RTGS transaction involves duly filling the Electronic Fund Transfer Request Form which can be requested at the concerned branch of Sumitomo Mitsui Banking Corporation. Take care to enter all the required information such as name of the recipient, his/ her bank and branch, account type and number and that branch’s IFSC Code. Transaction cannot be done without IFSC Code.

Sumitomo Mitsui Banking Corporation (SMBC), as you have guessed from the name, is a Tokyo-based international bank founded in 2001. Collaboration of two premier banks, The Sumitomo Bank and The Sakura Bank led to this. It is indeed commendable that the bank made its way into the top 2 rank (by assets) in just 15 years. Another two years down the line, they again collaborated with another daddy in the arena, Wakashio Bank Limited. SMBC’s predominant plus was the loyalty it earned among their clienteles due to prompt execution of strategies as well as a broad listing of banking products and services that control the know-how of strategic organizations focusing on those areas, giving the clients a greatly refined and all-inclusive services.

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