How to Send Receive Payments India (within India)

How to Send & Receive Payments (within India)

Inorder to send or receive payments involving NEFT/RTGS it is mandatory to give the sender IFSC code of your bank. If you are receiving a payment from the sender through online or net banking, give the sender information like

Account Number
Account Name (must match the account name in your bank records)
Account Type (Savings/Current/Business)
Bank Name
IFSC Code

Here is a sample format.

Account Number # ___________________________________

Account Holder Name: ______________________________________
Account Type (Savings/Current) _______________________________________
Bank Name: _______________________________________
Bank Branch: ______________________________________
IFSC Code: _________________________________________
Amount in Rupees: ________________________________________

Note: It is very important that for these electronic payment systems, the account holder name must match exactly the name with bank records. If not the receiving bank may decline the payment.

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