TamilNad Mercantile Bank IFSC code & MICR code

How to Search for TMB IFSC & MICR Code?

You can easily find both IFSC and MICR codes online. RBI provides a comprehensive list of all the NEFT enabled banks mentioning their IFSC codes on their official website. TMB’s registered website also lists IFSC codes of all their branches. You can also look up IFSC and MICR codes on external websites for free. Such as BankBazaar, where you can follow these steps and find the IFSC code of the particular branch of TMB, you are looking for:

1. Look for BankBazaar’s website online. On its homepage, there is a tab labelled ‘Bank IFSC Code’ at the bottom. Click on the tab.
2. Another page opens, where it requires you to enter other bank details from drop-down menus such as Bank’s name, Branch name, State and District.
3. Once all the tabs are entered, the website automatically generates the IFSC code as well as the MICR code of the branch bank in query. There are also additional details of the branch such as the location and phone number of the branch.

IFSC codes of each branch of the bank is printed on the leaves of the cheque book provided by the respective bank, at the time of account opening.

TMB Bank customers can transfer money from an account of any branch of the bank to another, anywhere in the country using NEFT and RTGS facilities.

How to Transfer Funds using TMB NEFT and RTGS?

National Electronic Fund Transfer (NEFT) at TMB:

TMB saves you from all procedural hassles and delays by offering you money transfer via NEFT system. This mode of transfer is best preferred for low value transactions as the settlement takes less time and the charge is nominal. TMB uses NEFT to transfer funds within banks that are a part of the NEFT network. TNB functions between 09:00am to 07:00pm, during which RBI makes 11-hourly settlements. Usually, the beneficiary bank gets the transaction message between 15 to 30 minutes post batch time. According to RBI’s rule, if the bank wants to cancel or return the transaction, it must be done within 2 hours of the next batch settlement. The beneficiary receives the fund within a day or by the next working day.

At TMB, for inward remittances, you are expected to input the account number without any errors for a seamless money transfer.

NEFT Charges at TMB (Outward Remittances):

Time Based Tariff:

09:00-12:00hrs – Nil

12:00-15:30hrs – Rs.1

15:30-17:30hrs – Rs.5

After 17:30hrs – Rs.10

Real Time Gross Settlement (RTGS) at TMB:

TMB was among the first banks to adopt RTGS facility in the country. All branches of TMB currently provide the facility of money transfer through RTGS. Through RTGS, customers can transfer money easily to any bank, irrespective of its branch location as long as it is RTGS enabled. Via RTGS, fund transfer takes place ‘Real Time’ as in it is instant and does not involve any waiting. Customers can now experience the fastest mode of money transfer using RTGS online.

‘Gross settlement’ through RTGS takes place within 09:00am to 04:30pm. In 2005, TMB introduced RTGS in 45 of its branches. Ever since, the bank saw an increasing number of RTGS transactions. This positive response led the bank to make all of its branches RTGS-enabled. In Tamilnadu, TMB is the first bank to adopt RTGS facility and it is the 3^rd in the country to incorporate RTGS in all of its branches.

RTGS Charges:

TMB does not levy any charge for inward RTGS transactions.

Rs.2 lakhs to Rs.5 lakhs – Rs.25 per transaction (+charge based on RTGS timings)

Above Rs.5 lakhs – Rs.50 per transaction (+charge based on RTGS timings)

Time Based Charge:

There is no charge on transactions through RTGS between 09:00am to 12:00pm. The charge for RTGS transfers between 12:00pm to 03:30pm is Rs.1, 03:30pm to 05:30pm is Rs.5 and after 05:30pm is Rs.10.

About Tamilnad Mercantile Bank Ltd. (TMB):

Established in 1921, TMB (Tamilnad Mercantile Bank Ltd.) was initially known as Nadar Bank Ltd. Over the years, TMB has proved itself to be a customer-focused bank that offers seamless personalized services to its customers. Majority of TMB’s branches are located in rural, urban and semi-urban areas (403 out of 452).