State wise list of United Bank of India IFSC code, MICR code and addresses of all branches in India
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United Bank of India IFSC Code varies from branch to branch and is primarily used to send money using fund transfer methods such as NEFT, RTGS and IMPS. IFSC, expanded and Indian Financial System Code, is made up of 11 characters, both numbers and alphabets. Each character helps identify the branch that is concerned. IFSC codes are assigned by the Reserve Bank of India (RBI).
For instance, the United Bank of India IFSC Code for the Raichur branch in Bangalore, Karnataka is UTBI0RCH900. Let us now try to understand the code better. Take the first 4 letters, ‘UTBI’, which is nothing but a short form for the name of the bank. The next number ‘zero’ is reserved for use in the future. The following 6 characters ‘RCH900’ represents the branch in Raichur. Here, it can be noted that ‘RCH’ stands for Raichur and the next 3 digits ‘900’ stands for the branch.
IFSC code is a very important aspect for net banking. Those sending money should make sure they get the right IFSC code.
By choosing to use NEFT and RTGS at United Bank of India, you can save yourself from all the trouble of transferring money physically. Under the patronage of RBI, United Bank of India offers you a safe and secure website for transferring your funds. Before initiating either NEFT or an RTGS transaction, you should have the following information: recipient’s name, account number, bank name, bank branch name, IFSC of the branch.
NEFT at United Bank of India:
National Electronic Funds Transfer (NEFT) allows nationwide transfer of money from sender to destination account at any time. You can send funds to another person’s account or to a firm or a corporate organization. RBI uses a Deferred Net Settlement basis to process NEFT transactions at banks. This is a process where batch-wise clearance of transactions takes place. The timings are decided by RBI and it is on an hourly basis throughout NEFT business hours.
You can send funds using the NEFT channel from all NEFT enabled bank branches of the United Bank of India on all weekdays starting from 8AM to 7PM and from 8AM to 1PM on Saturdays. United Bank of India charges its customers for outward payments at the following rates:
United Bank of India also allows walk-in customers to enjoy the NEFT facility to send funds to other accounts. They can deposit up to Rs.50, 000 in cash, which can be transferred electronically.
RTGS at United Bank of India:
Real Time Gross Settlement is speedier than NEFT and is more continuous and real time. Using United Bank of India’s RTGS system, you can avail a quicker fund transfer to the desired beneficiary account, anywhere in the country at any time. There is no bunching, i.e. the instructions are not cleared in batches and hence are processed as and when there is an RTGS transaction request. Mainly preferred for transactions involving large amounts and the minimum amount that you can transfer using RTGS is Rs.2 lakh. However, there is no upper cap on RTGS transactions.
RTGS operating hours on weekdays are from 8AM to 4:30PM and 8AM to 2PM on Saturdays.
United Bank of India, formerly known as United Bank of India Ltd., was founded in 1950 and nationalized in 1969. United Bank started with 174 branches when it began and has reached a whopping 1999 number of branches and offices. United Bank is now a leading bank among the states of West Bengal, Assam, Tripura and Manipur. United Bank of India expanded its financial services to Eastern and North-eastern part of the country. With three fully equipped overseas branches in New Delhi, Kolkata and Mumbai, United Bank of India entered the league of fully computerized and equipped branches with electronic fund transfer systems across India.
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