Update for loading funds into RazorpayX Lite

As part of our commitment to providing you with the best possible services, we are thrilled to launch a new bank (Axis Bank) for adding funds to your RazorpayX Lite Account.

What's Changing?

We have already enabled an Axis Bank’s Customer Identifier for you. Starting 29 December 2023, fund loading on RazorpayX Lite via YES Bank Customer Identifiers will be replaced with Axis Bank Customer Identifiers. Post 29th December 2023, you will be able to load funds to your LITE Accounts only via Axis Bank Customer Identifiers.

Action Required From You!

You must update the Axis Bank Customer Identifiers on your Internet banking portal on or before 28th December 2023. (detailed steps below). 

Important Note - This has no impact on the payouts or API integration on the Lite account. There is no need to update your APIs. You will continue to enjoy your RazorpayX LITE Account as usual.

How to Update the New Axis Bank Customer Identifiers?

It’s quite seamless (screenshots attached)

1. Log in to your RazorpayX account

2. Navigate to the RazorpayX section on the home screen & select the add balance option

3. You will be able to see the newly launched Axis Customer Identifiers on the dashboard

4. Now, separately log in to your validated bank account’s (fund loading account) Internet banking portal

5. Add the Axis Customer Identifier as a beneficiary on your Internet banking portal from where the funds are transferred

6. Once the beneficiary is successfully added and the cooling-off period is completed, you can start transferring funds to your RazorpayX Lite account via the Axis customer identifiers

7. Funds loaded to your Yes Bank Customer Identifier after 29th December 2023 will get auto-refunded

#Facing challenges? Refer to this link.

Please note: Make sure to transfer the funds from your validated bank account only. Fund loading from any other account will be rejected.

We would like to bring to your notice that a Current Account or an Escrow account remains the most compliant and future-proof solution for your needs. To ensure long-term stability and minimum future disruptions - we strongly recommend opening a RazorpayX supercharged Current Account/Escrow Account*. Our team is dedicated to supporting you completely through the migration. 

*Current Accounts and Escrow accounts are powered by Axis Bank, Yes Bank & RBL Bank.

For personalized guidance and assistance, click here and a support team member will reach out to help.