Corporation Bank

Corporation Bank IFSC and MICR Codes

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Corporation Bank

IFSC code, MICR code and Bank Branches in India

Corporation Bank IFSC Code

The IFSC Code of Corporation bank starts from CORP0*****. It is a unique code that is made of 11 characters comprising of both numbers and alphabets. The first four alphabets if this Corporation Bank IFSC code represents the name of the bank. The fifth digit is generally a zero while the last six characters represent the branch name.
IFSC code is generally used for transferring money from one branch to another. You will be required to give the IFSC code of the beneficiary account to make the transaction happen.
As IFSC code is unique for every branch it helps the banks in making and error-free transfer of funds from one bank to another under any of the money transfer facilities such as NEFT and RTGS.

When can be RTGS used?
RTGS (real time gross settlement) can be used in case you have to transfer atleast Rs 2 lakh. There is no maximum limit for fund transfer under RTGS facility. On the other hand NEFT is the most commonly used service of transferring money online. The reason is there is no minimum and maximum limit of money transfer in case of NEFT.

About Corporation Bank

The bank started its operations in March 1906 as Canara Banking Corporation Udipi Limited. The bank’s name was changed to Canara Banking Corporation limited in 1939. It became Corporation Bank Limited in 1972 and finally Corporation Bank in April 1980 after nationalization. The bank has a wide reach across India with 2298 fully automated CBS (core banking solutions) branches,2933 ATMs and 4685 branchless banking units.