![]() ![]() ![]() What is the difference between account number and MICR number? MICR technique works by passing a physical document such as a cheque containing magnetic ink that needs to be read with a machine that can magnetize the ink on that document and then translate its magnetic information into characters. Whereas, MICR denotes the pin code, bank code, and the branch code. IFSC code denotes only the bank code and branch code. IFSC code is an eleven-digit code whereas MICR code is a nine-digit code. For example, the IFSC code of the SBI branch at 23, Himalaya House, Kasturba Gandhi Marg, New Delhi 110001, is SBIN0005943. What is the IFSC code for State Bank of India?įor State Bank of India’s (SBI) 11-digit IFSC code, the first four letters will be ‘SBIN’, and the last 6 digits will represent a specific branch code. The odd font used to print the number is known as magnetic ink character recognition (MICR) and is printed in electronic ink to allow banking institutions to easily process checks. Routing Number: The routing number consists of nine digits printed on the bottom-left corner of your check. MICR is used to speed up the processing of cheques. It is a 9 digit code printed on the bottom of the cheque and aids in the identification of the cheque. MICR stands for Magnetic Ink Character Recognition.
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