YES Bank is the fourth largest bank in India with a broad product portfolio of financial markets, investment banking, corporate finance, branch banking, business, and wealth management business lines across the nation, YES Bank has developed a corporate, retail, and SME banking franchise.

The Reserve Bank of India (RBI) has assigned the Yes Bank branches throughout India an 11-digit alphanumeric number known as the YES Bank IFSC Code. For NEFT, IMPS, or RTGS transactions, the IFSC Code is typically used to transfer money online.

When initiating an electronic transfer, it ensures that the bank account holder confirms the beneficiary's account and branch information and makes it easier for RBI to easily monitor all online activities.

Yes Bank IFSC Code Format

Customers of YES Bank can send money to any branch of any Indian bank using RTGS, IMPS, and NEFT. IFSC codes are used in these transfer procedures. Each bank branch in India has a distinct IFSC (Indian Financial System Code). In India, there are about 89 banks with 39,000 branches that take part in the electronic payments transfer system. Accurate and transparent transactions are made possible via the IFSC code.

The 11-character IFSC code is alphanumeric. The bank's name is represented by the first four characters, which are alphabets. "YESB" is the first four letters of the YES Bank IFSC code. The number "0," which is stored for later use, follows this. The bank branch is indicated by the final six characters, which are typically numeric.

The IFSC code for YES Bank can be YESB0000001, for instance:

• YES Bank is referred to as YESB.

• 0 is set aside for later use

• Bank branch code: 000001

How does Yes Bank IFSC Code operate?

Systems use IFSC codes to direct payments to the appropriate branches during fund transfers. The money can only be successfully transferred to the payee's account using the IFSC Code once the payer has provided all the necessary information.

Therefore, the IFSC code of YES Bank and other banks is crucial for the proper operation of NEFT, RTGS, and IMPS.

How to locate the IFSC and MICR codes for Yes Bank?

Customers can look for the YES BANK IFSC Code using any of the methods listed below:

1. Customers can take the actions listed below:

• The IFSC finding tool can be used at the top of this page.

• The default bank name here is Yes Bank, however, it can be changed to any other bank.

• Enter the necessary information, including the city and state names.

• To view the bank branch's IFSC and MICR codes along with additional information, select the branch.

Alternatively, the following websites also provide the IFSC and MICR codes for each branch of YES Bank:

2. The bank cheque is printed with the codes. The YES Bank cheque shown below will aid in better comprehension:

The top of the checklist is the IFSC code, while the bottom of the checklist is the cheque number and MICR code.

Magnetic Ink Character Recognition, or MICR as it is known in the banking sector, is a technology used to print MICR codes. An Electronic Clearing System participant bank and branch are uniquely identified by a 9-digit number called a MICR (ECS).

3. Yes Bank IFSC Code can also be found on the account passbook supplied by the bank to account holders.

4. Account holders can check these codes for their specific bank branch by going to the official website of the Reserve Bank of India.

5. After logging in with the credentials, customers can also verify these through the bank's mobile application or internet banking.

What are the different modes of fund transfer using the YES Bank IFSC Code?

Everything today is dependent on the online world due to the advent of digitalization. Thus, all banks offer various online payment transfer methods. NEFT, RTGS, and IMPS are the three most popular modes.

What is YES Bank NEFT?

Direct financial transfers between bank accounts are possible via the National Electronic Funds Transfer (NEFT) system, which is an electronic payment mechanism. In every bank and branch of the NEFT network, money is transferred straight from your bank account to the account of another person.

NEFT transfers are accessible every day of the week, all day long. NEFT transactions will always be handled in batches, thanks to Deferred Net Settlement (DNS). All transactions collected before the predetermined cut-off time are handled in batches. In NEFT, the payables and receivables from these transactions are netted out.

• You can transfer as much as your daily allotment via NEFT. The bank determines the daily transaction cap. All NEFT transactions completed in a day are used to determine the daily limit.

• The cutoff times for YES Bank NEFT are 8 AM – 7 PM on weekdays and 8 AM – 1 AM on Saturdays. After 7 PM, transactions will be completed the following day.

• On the second and fourth Saturdays, national holidays, and bank holidays, NEFT transactions are typically not executed.

YES Bank RTGS 

RTGS (Real Time Gross Settlement) is a fund transfer system that dispenses with batch processing to enable the sending of money in "real-time."

• If the beneficiary's bank participates in the RBI's Real-Time Gross Settlement (RTGS) scheme, you can instantaneously transfer money from your YES Bank account to any other bank account using this electronic fund transfer mechanism.

• For transactions with significant volume, the RTGS technique is typically employed.

• With this approach, transfers of up to Rs. 2 lakhs are possible.

• The money is transferred to the beneficiary's bank account within 30 minutes.

YES Bank IMPS

You can transfer money from your YES Bank account to the account of another bank via the Inter-Bank Electronic Funds Transfer System (IMPS). This service is offered every day of the week, including holidays, around the clock.

FAQs about YES Bank IFSC Bank

1 - What is the pattern for the IFSC code of Yes Bank?

The 11-character IFSC code is alphanumeric. The bank's name is represented by the first four characters, which are alphabets. "YESB" is the first four letters of Yes Bank's IFSC code. The number "0," which is stored for later use, follows this. The bank branch is indicated by the final six characters, which are typically numeric.

2 - What are the customer care details for Yes Bank?

3 - What are the charges for NEFT / RTGS transfer through digital banking of Yes Bank?

4 - What is MICR in YES bank?

Magnetic Ink Character Recognition is referred to as MICR. It is a nine-digit code that is placed on the bottom of the cheque and helps identify it. Cheques are processed more quickly using MICR. Additional MICR characteristics include: It can be found at the base of the cheque.

5 - Can the IFSC Code of two banks or two branches be the same?

No, two separate banks cannot share the same IFSC code. The bank's name is represented by four alpha characters in the 11-digit IFSC. The remaining six characters are alphanumeric, with the fifth being the number "0" for the rupee. The first five characters are assigned by the RBI and the remaining six by the appropriate banks.