X

Fund Accounts

Fund Accounts

Create, Update and View Fund Accounts on the RazorpayX Dashboard.

A Payout is made to a Contact (similar to a beneficiary in banking terminology). To make a Payout to a Contact, you must add a Fund account to the Contact.

Fund Accounts

A Fund account is an entity to which payouts are made. To make a payout to a Contact, you must add a Fund account to the Contact. There is no limitation to the number of Fund accounts a Contact can have.

Fund Account Types

Fund accounts are associated with a Contact. Payouts are made to the Fund accounts. There are three types of fund accounts:

  • Bank account: Make payouts to a beneficiary's bank account via bank transfer using one of the available such as NEFT or IMPS.
  • Credit Card: Make payouts directly to a beneficiary's credit card by bank transfer using NEFT or IMPS.
  • Debit Card or Prepaid Card: Make payouts directly to a beneficiary's debit card or prepaid card using the 'card' mode.
  • UPI ID (VPA): Make payouts to a beneficiary's UPI ID via a UPI transfer.
  • Wallet: Make payouts to your beneficiary's wallet. You can make payouts to a beneficiary via an Amazon Pay gift card.

Know about the

payout modes available for each Fund account type

and the

list of banks/cards supported

.

Fund Account Actions

The following table lists down the actions that can be performed on Fund accounts using APIs, Dashboard and Bulk Upload:

ActionAPIDashboardBulk Upload
Create a fund account✓✓✓
View fund account details✓✓✓
Mark as inactive✓✓x

You can

create Fund accounts using APIs

or

create Fund accounts in bulk

.

Dashboard Actions

After logging in to your RazorpayX account, you can start creating a contact and its associated fund account. Refer below for steps on how to create a contact with a fund account, and how to update it.

Create a Contact with Fund Account

To create a Contact with Fund Account from the Dashboard:

  1. Log in to the

    RazorpayX Dashboard

    .
  2. Navigate to Contacts.
  3. Click + CONTACT.
  4. Fill Contact details and click NEXT.
  5. Add Fund Account details.
  6. Click SAVE AND CLOSE.

Update a Contact and Fund Account

To update a Contact or Fund Account from the Dashboard:

  1. Log in to the

    RazorpayX Dashboard

    .
  2. Navigate to Contacts.
  3. Select the Contact you want to edit.
  4. Navigate to Options → Edit Contact.
  5. Edit Contact details and click NEXT.
  6. Edit the Fund Account details.
  7. Click SAVE AND CLOSE.

You can also

create and update Fund Account using APIs

.

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