Model Co-operative Bank Palghar
Palghar · Palghar, Maharashtra
400807018 is the MICR code for the Palghar branch of Model Co-operative Bank, located in Palghar, Maharashtra. MICR codes are printed on cheque leaves and used by the RBI's Cheque Truncation System (CTS) for cheque clearing. For online transfers, use the IFSC code MDBK0000027.
Bank
Model Co-operative Bank
Branch & Address
Palghar
Shop no 5-10, Shree Ram Verma Complex, Bldg no 4, Ambedkar Chowk, Mahim-manor Road, Palghar West - 401401
Palghar, Mumbai, Maharashtra
Contact
+912525252989MICR Code Structure
400
City
807
Bank
018
Branch
City code 400 identifies the RBI clearing centre, bank code 807 identifies Model Co-operative Bank, and branch code 018 identifies this specific branch.
Online Payment Methods Supported
Other Model Co-operative Bank branches near Palghar
Other banks in Palghar, Maharashtra
About MICR Codes
What is a MICR code used for?
MICR (Magnetic Ink Character Recognition) codes are printed on cheque leaves using special magnetic ink. They are read by cheque processing machines and used by the RBI's Cheque Truncation System (CTS) to process and clear cheque payments between banks. Each MICR code uniquely identifies a bank branch for cheque clearing purposes.
MICR vs IFSC — when do I use which?
Use MICR when paying by cheque — it's already printed on your cheque leaf and used automatically during clearing. Use IFSC (MDBK0000027) when making online transfers via NEFT, RTGS, IMPS, or UPI — banks ask for IFSC when you add a beneficiary for online payments.
Where is the MICR code on a cheque?
The MICR code is printed at the bottom of every cheque leaf in a distinctive machine-readable font, using magnetic ink. It appears in the centre of the three numbers at the bottom — the cheque number is on the left, the MICR code 400807018 is in the middle, and your account number is on the right.