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 |
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New IFSC code (used for IMPS/NEFT/RTGS transactions) |
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New Cheque Book (with new MICR code) |
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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.
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
1. Will my bank account number change?
No, there is no change in your bank account number.
2. Does my Customer Identification File (CIF) change?
No, there is no change in your Customer Identification File (CIF).
3. Will my branch change? What will be the name & address of my branch?
No, your branch will not change. The name and address of your branch will remain unchanged.
4. Will I get a new passbook?
No, there is no change in passbook. You may continue to use your existing passbook.
5. I have an old Lakshmi Vilas Bank debit card. Do i need to obtain a new debit card?
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.
6. What will happen to the internet banking and mobile banking?
As of now, there is no change in your Mobile Banking and Internet Banking services.
7. I have received a message to replace my existing erstwhile Lakshmi Vilas Bank cheque book having old MICR Code. What should I do?
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
1. Does my branch IFSC and MICR code change?
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.
2. Will cheques issued by me with old MICR be valid?
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.
3. Will I have to change my old cheque book with a new cheque book?
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.
4. What will happen if someone does a transaction through NEFT / RTGS / IMPS / ESC / NACH with the old IFSC code / MICR code?
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
5. What will happen to my existing NACH debit?
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
1. Will my Virtual Payment Address (VPA) / UPI ID remain the same for UPI payment?
Please note that post migration, you will need to create a new VPA (i.e., change the VPA handle to @dbs)
2. I am currently using Third Party apps like Google Pay etc., Do I have to re-register on those apps?
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.
3. I am receiving funds through IMPS/NEFT/RTGS, what are the details I must share with the remitter for Fund Transfer?
You are required to share Beneficiary Name, Account Number, Branch Name and new IFSC code for the transfer to be executed
Other Services Related
1. I am a Central Government pensioner, is there anything I need to do post migration?
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.
2. I am a State Government pensioner, is there anything I need to do post migration?
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.
3. How can I contact the Bank if I need to?
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