To transfer funds to various third parties, sellers, bank accounts or vendors, you need to add them as Linked Accounts.
When you add a Linked Account, you gain complete visibility and control of all the fund movements such as transfers, reversals and refunds for each of your Linked Accounts.
Every Linked Account has a unique
account_id which should be stored in your database. This ID should be sent in the various APIs described in other sections to identify the Linked Account.
After added, the Linked Account gets activated immediately and funds can be transferred right away. However, it takes 2 working days for Linked Account settlements, irrespective of your settlement schedule.
We collect the following details while adding the account:
- Linked Account name
- Contact number
- Account number
- Account type
- Beneficiary name
Watch this video to see how to add Linked Accounts.
To create a Linked Account:
Log into the Razorpay Dashboard and click the Route menu.
Click Accounts tab, and then click + Add Account.
Enter the Account Name and Account Email in the Add Account pop-up page.
If you want to enable the Dashboard access for the Linked Account, turn on the toggle bar.
On the KYC Form pop-up page, enter Business Details and Bank Account Details, and then click Submit Form.
The Linked Account is added successfully.
You can grant Dashboard access to your Linked Accounts. The Linked Account can log into the Dashboard with the email address provided at the onboarding time.
The recipient Linked Account is notified via an email along with a password reset option.
While you can create a Linked Account without adding their email, you cannot grant them Dashboard access. The access can be granted or provided only after you add the email address of the Linked Account.
You cannot access the Linked Account Dashboard unless they add you as a team member from their Linked Account Dashboard.
Due to government regulations, in certain cases, the Linked Accounts need to directly process refunds to customers. You can enable refunds capability while adding a new account.
To enable refunds capability for an existing account:
- Navigate to the Accounts tab.
- Turn on the Allow Refunds toggle against the relevant account.
Refund Credits help the Linked Account to process customer refunds from a dedicated funds than using the unsettled balance. You can enable Refund Credits for a Linked Account by sending an email to your Razorpay account manager with these details:
- Linked account name
- Email ID
- Balance type (Refund Credit).