When you send INR, you’ll need to choose the purpose of your payment. This is because we are a regulated financial institution and we need to collect the purpose to stay compliant.
What purpose codes do we offer?
Here you can find the purposes we offer for your INR payment and the corresponding RBI (Reserve Bank of India) codes.
| Personal | Business | Trade |
|---|---|---|
| Family maintenance ─ P1301 | Repayment of loan ─ P0702 | Software export ─ P0807 |
| Savings ─ P1406 | Education-related expenses ─ S0305 | Payment for goods exported ─ P0102 |
| Deposit to NRE accounts ─ P1301 | Travel expenses ─ P0301 | Advance payment for goods and exports ─ P0103 |
| Payment to friends ─ P1403 | Medical treatment ─ S0304 | Data related charges ─ P0803 |
| Other personal expense ─ P1405 | Software consulting or services ─ P0802 | Audio or visual services ─ P1101 |
| Education related expense for family ─ P1301 | Real estate investment/Purchase of property to businesses - P0005/S0005 | Legal services ─ P1004 |
| Medical treatment for family ─ P1301 | ─ | Accounting or related services ─ P1005 |
| Purchase of Property ─ P1404 | ─ | Business management or PR services ─ P1006 |
Is there anything else I need to know?
I don’t see a purpose code for employee compensation. What should I choose?
We cannot support employee compensation as a purpose for your transfers ─ please use alternative payment providers. We are working on supporting these in the future.
How much can I send to a business in India?
The limit is 1.5 million INR per invoice daily.
What happens if I choose an incorrect purpose code?
If your transfer has not been sent out, then please reach out to our customer support team. Your transfer will be cancelled and refunded.
If your transfer has already been sent out, then please note that we cannot alter purpose codes for transfers that have already been sent out.
There are 2 options:
You might reach out to our customer support team. We will get in touch with our partner to recollect transfers where possible.
You can reach out to your beneficiary bank to reject the funds back to us. Once the funds are rejected and credited back to us, we will be able to cancel and refund your transfer.
I want to send money to buy a house. What purpose code should I choose?
It depends on the nature of your transfer:
If funds are for a housing loan, then choose repayment of loans.
If funds are to a real estate firm for housing investments, then choose real estate investment/purchase of property In this case, recipient must be a business.
If funds are to family or friends for purchasing a house, then choose purchase of property.
What is the difference between business and trade purpose codes?
Trade transfers are specifically for transfers with any of the following purpose codes:
Software export, goods exported, advanced goods payment and other business services.
Business transfers are transfers to business recipients that do not fall under the above purpose codes.
What happens if I cannot find my intended purpose code in this list?
Unfortunately we are unable to support purpose codes that are not in this list. This means that if you wish to use a specific RBI purpose not in this list, we do not support such transfer purposes.