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Is Swift Code and IFSC code same?

Discussion in 'Payment Processing' started by web_pallavi, Nov 10, 2008.

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  1. #1
    HI,
    I want to know that If I will add Swift code in payPal at the place of IFSC code then What problem can raised?
    I have visited at bank and they given me Swift code not an IFSC code so can I put Swift code at IFSC code

    Please suggest me

    Thanks
    SEMrush
     
    web_pallavi, Nov 10, 2008 IP
    SEMrush
  2. sampathsl

    sampathsl Guest

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    #2
    I'm not an indian but know bit of these codes. The IFSC code is not the SWIFT or the MICR code. If you input SWIFT code for IFSC it shouldn't work.
     
    sampathsl, Nov 10, 2008 IP
  3. Ajucoolest

    Ajucoolest Well-Known Member

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    #3
    SWIFT Code is for International Money transfers while IFSC code is for domestic transfers between banks..

    First of all it would never work out and your funds will get back to your account after deduction of some fees. So, you need to get right IFSC code..entered in Paypal

    You can check the IFS Code on banklocations.in if not on rbi.org.in or you may even check the same on the Cheque slip
     
    Ajucoolest, Nov 10, 2008 IP
  4. shalinich

    shalinich Peon

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    #4
    shalinich, Nov 10, 2008 IP
  5. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #5
    Swift code and IFSC code both are different thing.

    You can find IFSC code of your bank printed at all leaves of check book. Check it.

    DON.
     
    deluxdon, Nov 10, 2008 IP
  6. rjinfo

    rjinfo Peon

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    #6
    SWIFT and IFSC codes are different
     
    rjinfo, Oct 14, 2011 IP
  7. alexgreatcpa

    alexgreatcpa Well-Known Member Affiliate Manager

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    #7
    Swift codes are used for International WIRE transfer while IFSC codes used for eternal banking [domestic banking]
     
    alexgreatcpa, Oct 22, 2011 IP
  8. sneha.patil.5602728

    sneha.patil.5602728 Peon

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    #8
    No use IFSC Code for indian bank and for other country banks use swift code only ifsc code are use for indian banks IFSC (Indian Financial System Code) is a 11 digit code provided by RBI for identifying individual bank branch in India

    IFSCCODEONLINE.COM

     
    sneha.patil.5602728, Sep 4, 2012 IP
  9. azharmuh

    azharmuh Member

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    #9
    SWIFT Codes and IFSC Codes are different and serves same purpose. IFSC code is used to transfer funds to any bank in India. Whereas Swift code or BIC code used to transfer funds internationally.
    You can find out your bank branch's SWIFT code and IFSC code at Bankswiftifsccode(dot)com
     
    azharmuh, Mar 28, 2014 IP
  10. jazzyjmnote

    jazzyjmnote Banned

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    #10
    IFSC codes is to transfer money between the Indian banks while SWIFT is used to get paid from Banks outside India particularly from Europe and North America.
     
    jazzyjmnote, Mar 28, 2014 IP
  11. Surajit Roy

    Surajit Roy Member

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    #11
    I agree in your Talk. Swift code is a Bank code that is for transaction in International basic.
     
    Surajit Roy, Mar 28, 2014 IP
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