India Post Payments Bank IFSC code

Two kinds of account, two different codes. An account opened by India Post Payments Bank — at your doorstep or on the IPPB app — uses IPOS0000001. An older Post Office Savings Bank passbook account uses IPOS0000DOP, because POSB balances sit in the Department of Posts’ own core banking system and reach NEFT only through IPPB, which acts as their sponsor bank.

1. 1

   Open your passbook to page one

   In May 2022 the Department of Posts told every post office to print “IFSC : IPOS0000DOP” on the first page of savings, PPF and Sukanya Samriddhi passbooks.

2. 2

   Ask at the counter or at your door

   IPPB’s access points are post offices, and a postman or Gramin Dak Sevak can confirm which account you hold. Doorstep banking carries nil charges until further notice.

3. 3

   Call 155299

   IPPB’s helpline will confirm the account type; the code follows from it.

4. 4

   Match the code to the account, not the town

   There is no Chennai code and no Patna code — hunting for one only turns up guesses.

The format is the Reserve Bank’s, identical at every Indian bank: four characters for the institution, one reserved character, six for the branch. IPPB’s last six do not name a place — they name a system.

IPOS

Bank code — India Post Payments Bank

0

Reserved by the RBI, always zero

000001

The bank itself, not a branch

000DOP

The Department of Posts’ own book

NEFTSC

A NEFT service centre, not an address

That is what the payments-bank licence buys. The RBI required these banks to be fully networked and technology driven from the beginning, so IPPB never accumulated the branch ledgers that give an ordinary bank thousands of codes.

• Transfers between two IPPB accounts are free on every channel.
• The first money transfer is free up to ₹500, within 90 days of opening.
• For the first three months a savings account allows 10 debits a month and ₹5,00,000 in total.

Post office savings accounts are priced separately: the Department of Posts is explicit that inward NEFT is not chargeable, and outward NEFT at the counter costs ₹2.50, ₹5, ₹15 or ₹25 plus GST by slab — free through India Post internet or mobile banking.

A payments bank may not hold more than ₹2 lakh per customer at the end of the day; the RBI raised that ceiling from ₹1 lakh on 8 April 2021. IPPB does not refuse the excess — if a Post Office Savings Account is linked, anything above the limit at day end sweeps into it.

• The sweep is automatic once POSA is linked, and IPPB charges nothing for it.
• POSA has no maximum balance and pays 4% a year, against 2.00% to 2.25% at IPPB.
• Sweep-out runs 24×7; sweep-in runs from beginning of day until 11:00 PM.
• IPPB frames the sweep as what happens “rather than rejecting the transaction”.

Start with the constraint. India Post Payments Bank has no SWIFT/BIC of its own, so an international wire cannot be addressed to it the way it can to a full-service Indian bank. RBI’s payments-bank rules also bar NRI deposits outright, so IPPB opens neither NRE nor NRO accounts.

• Money still arrives. The Money Transfer Service Scheme lets foreign inward personal remittances be credited to a KYC-compliant account by NEFT or IMPS — which is where IPOS0000001 does its work.
• MTSS is capped at USD 2,500 a remittance, 30 remittances per beneficiary a year, and ₹50,000 paid in cash.
• Above ₹50,000 the payout cannot be in cash: it must come by account payee cheque, demand draft or payment order, or as a direct credit to the beneficiary’s bank account.

Neither route publishes one all-in price: the exchange rate is part of the cost and the fee schedule is not. Glide shows the rate and the fee together before the money moves, so the two can be compared on the same number.