Following are the IFSC Code Details of Mumbai Branch Bank of America Mumbai BOFA0MM6205

Which Bank IFSC Code is BOFA0MM6205?

IFSC Code BOFA0MM6205 belongs to Branch Name: Rtgs-Ho of Bank of America located at Bank Of America N.A Gr.Floor, One Bkc, G-Block, A-Wing, Bandra Kurla Cpmplex , Bandra East , Mumbai-400051

What is IFSC Code?

IFSC stands for Indian Financial System Code. It’s an 11-digit alphanumeric code that uniquely identifies every bank branch in India that participates in online money transfer systems. It works as a crucial address for ensuring smooth and accurate electronic fund transfers. It acts as a crucial address for ensuring accurate electronic fund transfers.

Structure of an IFSC Code:

First 4 characters: Bank’s name (e.g., HDFC, SBI, ICICI)
5th character: Always 0 (zero)
Last 6 characters: Specific branch of the bank

Uses of IFSC Codes:

Online money transfers: NEFT, RTGS, and IMPS all require IFSC codes to specify the recipient’s bank branch.
Cheque clearance: Used for faster cheque clearance processes.
Linking bank accounts: Linking accounts for mutual funds, loan repayments, etc., often involves IFSC codes.

How to Find Your IFSC Code:

Cheque book: Printed at the top of the cheque leaf.

Bank passbook: Printed on the front page.

Bank website/app: Available in your account information.

Third-party websites: Several websites offer IFSC code search features.

Bank branch: Visit your branch for assistance.

Common Questions:

Do all bank branches have IFSC codes?

No, only those participating in online money transfer systems have IFSC codes.

Can I use the same IFSC code for all transfer types?

Yes, the IFSC code remains constant for NEFT, RTGS, and IMPS.

What happens if I enter an incorrect IFSC code?

The transfer may be delayed or returned, so double-check the code before initiating a transaction.

Can I find IFSC codes for international banks?

No, IFSC codes are specific to Indian banks. For international transfers, you’ll need SWIFT codes.

Additional Information:

IFSC codes are issued by the Reserve Bank of India (RBI).
They are essential for smooth and secure electronic fund transfers in India.
Always verify the IFSC code with the recipient before initiating a transfer to avoid errors or delays.

About Bank of America:

• Bank of America is one of the largest financial institutions in the United States, with a global reach.
• Founded in 1998 through the merger of NationsBank and BankAmerica Corporation, it’s headquartered in Charlotte, North Carolina.
• Second-largest bank in the U.S. by assets and deposits, with over 6,000 retail branches and 16,000 ATMs across the country.
• Offers a wide range of banking, investing, and wealth management services for individuals, businesses, and institutions.
• Well-known for its Merrill Lynch investment bank and its Bank of America Private Bank for high-net-worth individuals.

Here are some of the key features of Bank of America:

• Strong brand recognition and reputation: Bank of America is a household name in the United States and has a long history of serving customers.
• Large and diversified customer base: The bank has a broad range of customers, from individual consumers to large corporations, which helps to mitigate risk.
• Strong financial performance: Bank of America has been profitable in recent years and has a strong balance sheet.
• Focus on technology and innovation: The bank has invested heavily in technology in recent years, which has helped it to improve efficiency and offer new products and services to its customers.