Suggestion on IFSC while fund transfer

While transferring funds to x account → you provide an option to select bank account and once we select bank account, you pre-populate the IFSC number in the ‘IFSC box’ which is of largest branch by casa numbers or whatever the logic.

Suggestion: You either pre-populate the first 4 alphabets of the bank like ‘UTIB’ or ‘ICIC’ or ‘SBIN’, and rest should be for user to fill or don’t pre-populate anything.

Why: Because in your quest to be providing better cx you pre-populate the IFSC which might not be of that particular user and he/she has to went back and change the IFSC.


Nowadays IFSC doesn’t matter. You can transfer to any IFSC and it will go to the account number only. This is true for all major banks. You can literally just add any IFSC of the same bank. Just account number should be correct.


@Romil_Patel Information to me. Thanks :space_thumb:

In that case, why do we still need to add the IFSC during transactions?

That’s a new info for me too…
Isn’t this feature exclusively available when the sender’s and receiver’s bank need to be same?
Like SBI Yono, where you can do quick transfer to beneficiary account without entering IFSC code if his/her account is in SBI.
When we select ‘other bank’ there is a box to enter IFSC of that other bank branch

No. I transfer between different banks with any IFSC of the receiving bank and it is always successful. I have 10 accounts. I have changed branch in many of those accounts. Both old IFSC, new IFSC and some random IFSC all works.

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Because for most major banks this is true. Some smaller banks reverse the transaction and return money if IFSC is not correct.

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The pre-populated IFSC in Jupiter is of the main branch of the respective bank. Do not worry. Just enter the correct account number and your money will be successfully transferred. I have personally done many transactions to different banks. In worst case the transaction willl be reversed and you will get the money back automatically. But I never had a transaction reversed.

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@Romil_Patel Yah…Thanks for this info.
I just transferred some amount to my Canara bank account without editing the pre-filled IFSC code and it worked without any issues. :blob_thanks: :cool_doge:


That’s great. Thanks for sharing @razack. It’s helpful… :slightly_smiling_face:

It still tell which bank is in that account. You can’t know the bank name with account number. I have many banks which is having my phone number as account number

@Abhinav_Goyal I can think of Airtel Payments Bank and Paytm Payments Bank. I prefer Airtel because there is no 91 before your phone number which Paytm Bank has.

Are there any other banks that use your phone number as your account number?

I am surprised that since 2016 when the phone number was introduced in the place of account numbers, major banks haven’t adopted it themselves.

Ya, indusind also provide same . And my paytm payment bank is starting with 91 it’s with 99.

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