The IFSC code is an 11-digit alpha-numeric code used by banking institutions to facilitate money transfers. The DBS Bank IFSC code can be found on the bank's documents. You can also find the same information using any search engine.
This 11-digit key is divided into three sections. For example, the DBS IFSC code ‘DBSS0IN0811’ is used for the Mumbai branch. The first four letters of the code, 'DBSS,' are used to represent the bank, the fifth digit is 'zero,' and the last six numbers, 'IN0811,' are used to identify the branch. RBI has also made it obligatory to use IFSC code for online transactions using NEFT, IMPS, or RTGS.
DBS is a Singapore-based multinational banking and financial services conglomerate. The bank was established on 16th July 1968. The bank deals in Retail Banking, Wealth Management, Loans, and many more things. It has grown into major banking and finance corporate entity with operations in 18 countries. With its dedication and seamless banking process, it has maintained its dominance in the Asian market and has earned the award of ‘Asia’s Safest Bank’ 13 times (2009-2021).
To acquire the DBS IFSC code as well as MICR code, you are required to follow these steps:
Step 1: You must go to the official website of the bank and enter your branch information.
Step 2: You can also use third-party search engines to find out the same information.
Step 3: You may also use RBI’s official website to obtain both codes.
Your bank’s passbook and cheque book contain information about your DBS Bank IFSC and MICR codes. The specifics are listed on the first page of both documents.
NEFT stands for National Electronic Funds Transfer. It is one of the most successful techniques of money transfer. Furthermore, the bank has not set any transfer limits, so there is no minimum or maximum amount that can be transferred.
Here are the steps to accomplish a transaction:
Step 1: Begin with logging in to your DBS Bank net banking account.
Step 2: Go to the 'Fund Transfer' tab.
Step 3: Next, you are required to add the person as a beneficiary.
Step 4: To add a payee, you must give details such as their name, bank details, and DBS Bank IFSC code. It will take some time to process the new payee registration.
Step 5: After that, you can transfer the funds.
RTGS is an abbreviation for Real-Time Gross Settlement. It is one of the most efficient methods of transferring large sums of money. This mode is used for transactions with a minimum value of Rs. 2 Lakhs.
Here are the steps to implement this.
Step 1: Log in to your DBS Bank net banking account.
Step 2: Next, select the 'Fund Transfer' option from the tab.
Step 3: The person to whom you would like to transfer cash must be added as a beneficiary.
Step 4: To add a beneficiary, you have to provide information such as their name, bank account information, and IFSC code.
Step 5: Once you have given all the required information, you can transfer the funds.
Immediate Payment Service (IMPS) is one of the handiest, safeguard, and simple ways to transfer money. This mode allows performing transactions 24*7.
Following are the steps to do a successful transaction.
Step 1: First, you are required to log in to your DBS Bank net banking account.
Step 2: Afterwards, go to the 'Fund Transfer' menu.
Step 3: Next, you should add a recipient.
Step 4: In order to complete the adding process, you will be asked to provide information about the person to whom you want to transfer money, such as their name, bank details, and IFSC code of DBS Bank, to add them as a beneficiary.
Step 5: Lastly, after providing all of the mandated information, you can transfer the money.
Here are several details necessary to transfer money with DBS Bank.
Account details of the beneficiary
Beneficiary’s IFSC code
You can find your DBS Bank MICR code on the bank’s website or by using any third-party search engine. Additionally, you may also find the same details on the first page of your bank’s passbook and cheque book.
The DBS’s bank code is 7171.
Here is the simplest way to find your branch code:
If your account number consists of 10 digits, the branch code will be the first three digits of your account number. For instance, if your account number is 0022345678, your branch code will be ‘002.’