IFSC & MICR Code Changes

     

    Important Announcements

    October, 2021: Thank you for banking with us. We greatly value your continued trust and relationship. As Lakshmi Vilas Bank is now a part of DBS Bank India Limited, we will move ahead with the integration process at a fast pace over the next few months and continue to bring new products and services to you.

    As per regulations, the IFSC and MICR codes need to be unified. Given this, the current IFSC codes will be valid only till 26th Nov 2021, and the new ones will be active starting 25th Oct 2021. For your convenience and ease of transition both IFSC codes will remain active from 25th Oct 2021 to 26th Nov 2021. New cheque books (with the new MICR code) will be available from 1st Nov 2021 for your LVB account. Please note your current cheques (with old MICR code) will be valid for clearing till 25th Feb 2022. Here are a few important changes for you to note

    Change Important Dates Action expected from you
    New IFSC code
    (used for IMPS/NEFT/RTGS transactions)
    • New IFSC code for your branch will be active from 25th Oct 2021
    • Old IFSC codes will be discontinued effective 26th Nov 2021
    • Update your records and recurring payments & receivables with the new IFSC code at the earliest (please see a sample checklist attached to this letter for your reference)
    New Cheque Book
    (with new MICR code)
    • New cheque books (with new MICR code) will be available from 1st Nov 2021
    • Any cheque with old MICR codes presented after 25th Feb 2022 will not be honored
    • Apply for a new cheque book by walking into your branch, calling our customer care at 1860 267 4567 or through the internet/mobile banking channels
    • Replace existing cheques (with old MICR code) issued to any third party with new cheques before 25th Feb 2022 (please see a sample checklist attached to this letter for your reference)

     

    We also want to take this opportunity to request you to kindly update your latest contact details (address, email id and phone number) with the bank. This is critical for the safety of your account and for the bank to share important information and alerts about your account on a regular basis. You can do so in just a few minutes by visiting your nearest branch with an ID & Address proof.

     

    New IFSC & MICR Code Finder

    To find the new IFSC and MICR code, click here

     

    Checklist Document on IFSC & MICR Codes

    Here is a checklist to help you make an easy and smooth transition to the new IFSC code and new cheque book (with new MICR code). Click here to view

     

    Frequently Asked Questions (FAQs)

    Please read through the below mentioned frequently asked questions (FAQs) to address any queries you may have on the new IFSC and MICR codes.

     

    Account Related

    No, there is no change in your bank account number.

    No, there is no change in your Customer Identification File (CIF).

    No, your branch will not change. The name and address of your branch will remain unchanged.

    No, there is no change in passbook. You may continue to use your existing passbook.

    We have taken utmost care that your existing debit card will be valid till its expiry. In case of any issue, please contact your Branch.

    As of now, there is no change in your Mobile Banking and Internet Banking services.

    You are requested to kindly visit the branch or login to Mobile Banking or Internet Banking and replace the cheque book having old MICR Code, with a new one.

     

    Code Change Related

    Yes, the IFSC and MICR code of your branch have changed. You may however use the old IFSC Codes until 28 Feb 2022 and cheques, with old MICR code, issued till 28 Feb 2022 will be valid. You can also get the information.

    Your existing cheques, with old MICR code, issued till 28 Feb 2022 will be valid. You will have to apply for a new cheque book with the new IFSC code and MICR code, for all cheques issued by you and presented to the bank after that date.

    Yes, you need to obtain a new cheque book (having new MICR and IFSC) to avoid any future inconvenience. You are requested to kindly visit the branch or login to Mobile Banking or Internet Banking and replace the cheque book having old MICR Code, with a new one.

    All your transactions through NEFT / RTGS / IMPS/ ECS / NACH with the old IFSC Code/ MICR Code will continue to be honored till 28 Feb 2022. However, we request you to notify/ update the above changes in your debit mandates or standing instructions e.g. for SIPs, ECS, Auto Debit, Demat, Pension, and to Service providers including Billers/ Institutions/ PPO/ Insurance) registered by you. You will also need to inform senders from where you are receiving money through NEFT/RTGS/IMPS/NACH about the change in the change in your branch IFSC Code. You can find the new IFSC & MICR Codes at https://www.lvbank.com/view-old-ifsc-details.aspx

    Existing NACH debit will work as is. For new NACH mandate registration you will require to provide new IFSC and MICR codes. However, we request you to notify/ update the above changes in mandate / instructions (SIPs, ECS, Auto Debit, Demat, Pension), Service providers (Billers/ Institutions/ PPO/ Insurance) registered by you.

     

    Online Banking Related

    Please note that post migration, you will need to create a new VPA (i.e., change the VPA handle to @dbs)

    If you have linked other UPI payment applications (like Google Pay, etc.,), to your existing account of the erstwhile LVB, then you do not need to do anything.

    If you have not linked your eLVB account with any of the UPI applications, then you can easily link your account by simply selecting the bank as DBS Bank.

    You are required to share Beneficiary Name, Account Number, Branch Name and new IFSC code for the transfer to be executed

     

    Other Services Related

    It is necessary to inform your Pension Sanctioning Authority (PSA) / Pension Disbursing Authority (PDA) about the change in IFSC code details. Request you to do the same.

    It is necessary to inform your Pension Sanctioning Authority (PSA) / Pension Disbursing Authority (PDA) about the change in IFSC code details. Request you to do the same.

    Please call 1860 267 4567 which is our customer care number. For further clarifications related to any of your products or services, change updates, please visit our website www.lvbank.com or visit your branch