Account Migration - Axis Bank

Update your setup to work with our new banking partners.

Due to changes in partner bank regulation, the following changes will take place soon for all


Existing Smart Collect Customer Identifiers associated with unregulated merchants will undergo a transition to our new banking partner, Axis Bank. Though the account number associated with these customer identifiers remains unchanged, the previous IFSC code will be replaced with a new one. You must communicate this change to your customers, directing them to use the updated IFSC code for subsequent payments.

The migration process will encompass all current Customer Identifiers. Post-migration, the new IFSC code will be displayed on the Dashboard and provided through the API alongside a reference to the original IFSC code.

Watch Out!

Transfers using IMPS mode via PSP apps (such as Google Pay, PhonePe etc.) are not supported for recipients with Axis Bank virtual bank accounts.

Going forward, all new Customer Identifiers for unregulated merchants will be created with Axis Bank as the banking partner. All new Customer Identifiers created with Axis Bank will have no dormancy and will remain active until you close them.

Watch Out!

Notify your customers with your Customer Identifiers that they can add a new beneficiary with updated IFSC code, but the same bank account number.

The following table shows which merchants will be affected by this change:

Regulated Merchants6010, 6012, 6211, 6300 and 8931No
Unregulated MerchantsAll MCCs other than the regulated MCCsYes

  1. All active Customer Identifiers will be migrated from RBL Bank to Axis Bank from 12th September 2023 onwards.
    1. The Bank Account number will stay the same.
    2. The IFSC code will be changed to UTIB000RAZP.
  2. All new Customer Identifiers will be created with Axis Bank as the banking partner.
  3. Inform your customers using your Customer Identifiers about the newly migrated Customer Identifier details, which retains the same bank account number but features an updated IFSC code.

Watch Out!

Post 12th September 2023, the IFSC Code for all newly issued Customer Identifiers will be UTIB000RAZP. The account number will stay the same.

The updated API response will include two entries in the receiver's array:

  1. The former RBL Bank Customer Identifier
  2. The new Axis Bank Customer Identifier.

To verify the new Axis Customer Identifier, look for the IFSC Code UTIB000RAZP.

"entity": "collection",
"count": 2,
"items": [
"id": "va_IirUUD9dDm4G4i",
"name": "Test Account",
"entity": "virtual_account",
"status": "active",
"description": "Vishnu Jangid",
"amount_expected": null,
"notes": {
"project_name": "Vishnu Jangid"
"amount_paid": 0,
"customer_id": null,
"receivers": [
"id": "ba_IirUUYO8caNoK5",
"entity": "bank_account",
"ifsc": "RATN0VAAPIS",
"bank_name": "RBL Bank",
"name": "Test Account",
"notes": [],
"account_number": "2223330053041804"
"id": "ba_IirUUYO8sh1602",
"entity": "bank_account",
"ifsc": "UTIB000RAZP",
"bank_name": "Axis Bank",
"name": "Test Account",
"notes": [],
"account_number": "2223330053041804"
"close_by": 1681615838,
"closed_at": null,
"created_at": 1641997300

After the migration, you can view the previous and updated Customer Identifier details by selecting the Customer Identifier. While the new identifier maintains the same account number, its IFSC code has been changed to UTIB000RAZP.

Customer Identifier Dasboard view post migration.

1. Which Customer Identifiers will be affected by this?

Customer Identifiers created by unregulated merchants, excluding those in MCC categories 6010, 6012, 6211, 6300, and 8931, will be migrated to Axis Bank.

2. How do I know if I am a regulated or an unregulated merchant?

All merchants having MCC codes other than 6010, 6012, 6211, 6300, and 8931 are unregulated merchants and Customer Identifiers for all these merchants will be migrated to Axis Bank.

3. Will all Customer Identifiers be migrated from RBL Bank to Axis Bank?

No, only Customer Identifiers created by unregulated merchants will be migrated to Axis Bank. All active Customer Identifiers of regulated merchants will remain unaffected.

4. What changes can I expect in the Customer Identifiers, and what information should I communicate to my customers?

The main change in the Customer Identifiers will be the IFSC code, which will update to UTIB000RAZP, even though the account number remains the same. You should inform your customers about this updated IFSC code while emphasising that the account number remains unchanged.

5. When is the shutdown date for the old Customer Identifiers?

Shutdown for all unregulated merchants will happen soon.

6. How will I identify the new Bank Account details in the API response?

The IFSC code serves as an identifier for the new bank account. In the API response, all new Customer Identifiers will display UTIB000RAZP as their IFSC code.

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