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Bank Of America IFSC Code and MICR Code:

Bank Of America state wise list of all branches, IFSC code, MICR code and Addresses within India

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Bank Of America IFSC Code

About Bank of America

Bank of America is an American multinational banking and financial services corporation. It is popularly known as BofA in the international open market. Its headquartered is located in Charlotte, in North Carolina. In the United States by assets, it is the second largest bank holding company. It is the twenty-first largest company as of 2013 in the United States by total revenue. It is to be remembered that Forbes listed Bank of America as the third biggest company in the world in 2010. Its predecessor is Bank America and NationsBank. It was founded on October 17, 1904 as Bank of Italy. Its founder is Amadeo Giannini. Its area served is worldwide. It deals with exclusive products such as wealth management, credit cards, consumer banking, investment banking, corporate banking, finance and insurance, mortgage loans, private equity and private banking.

Bank of America as per official press release has number of employees as 233,000 in 2014. Its divisions are Bank of America Home Loans and Bank of America Merrill Lynch. On the other hand, its subsidiaries are Merrill Lynch and U.S. Trust. It largely serves its esteemed existing and potential customers in satisfactory manner in the open market. It understands the present needs and requirements of its customers and tries to serve them in an exclusive manner.

IFSC code for Bank of America

It is to be noted that Bank of America IFSC code can be used by both the Real Time Gross Settlement finance transfer systems and National Electronic Fund Transfer. Reserve Bank of India has provided Bank of America, its NEFT, RTGS and IMPS codes. NEFT transactions are settled in a successful manner in batches while RTGS transactions are perfectly settled individually. On the other hand, IMPS largely presents an instant 24X7, electronic fund transfer. It is to be keenly observed that IFSC Code is an 11 character code for just identifying bank branches largely participating in online fund transfers. This particular code is unique for each and every branch. The bankers should note that not all branches of a bank provide facility of net banking.

How to find Bank of America IFSC Codes?

• The table alongside provides the Bank of America IFSC code list.
• One can use this IFSC code finder to find IFSC Code for Bank of America for NEFT or RTGS or IMPS codes before using them.
• You can find IFSC codes for Bank of America branches in India.
• Narrow down your search for IFSC Codes either by selecting any particular state from the drop down list or by selecting the state in the table on the right side.
• Search Bank of America IFSC Codes!

Bank of America MICR Code

BofA Magnetic Ink Character Recognition (MICR) code contains numerical values only; it comes with nine digit code. It is printed usually on cheque leaves. It is largely MICR Code is used for processing cheques easily. BofA has NEFT supported branches; most of these BofA branches have MICR Code number.

How to Search Bank of America MICR code?

• First select your bank,
• Select the State
• Now select your district
• Finally select the branch of your bank to find MICR Code.
• If you need to change any search list term, please use Up Arrow Icons.

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Bank Of America IFSC Code News:

Hurt by low rates the profits of Bank of America fall 20 %

Low interest rates make it difficult for banks to lend money and that is why the Bank of America saw a 20 % decline in the second quarter. The bank which is situated in Charlotte North Carolina earned $3.87 billion or 36 % share while the analysts had expected the bank to earn a 33 % share.  In the same period a year earlier it had earned $4.8 billion. The CEO said that the bank had another solid quarter although the environment was challenging.

Bank of America, Wells Fargo and JPMorgan Chase continued to face low interest rates. The profit margin on loans in the last year was 2.37% and this year it was 2.03%. Bank of America has issued the largest number of credit cards this year since 2008.

The largest business (in terms of revenue and profit)of BOA earned $1.72 billion which was an increase from $1.66 billion. Loans and deposits were also noted to have increased. Followed by the vote by Britain to leave EU Bank of America saw an increase in trading revenue. It is common for BOA expenses were sharply reduced by reducing the number of its branches and employees. In pre market trading BOA edged up 0.5%

2016/07/20 05:36 AM

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