Razorpay business account offers an array of features for merchants and businesses. You can use this account to pay vendors, employees, and customers. However, before you can start the payouts, you need to ensure that the RazorpayX business account has sufficient funds. To add money to your Razorpay business account, you can use any of the following two methods:
Transfer funds from your current account to your RazorpayX business account
Add the RazorpayX business account as beneficiary in your regular current account. You can find the details of the RazorpayX account like account number, IFSC code on the dashboard of your RazorpayX portal. Once you the beneficiary is added, you can transfer the required funds via IMPS, RTGS or NEFT to your Razorpay X business account. Once the funds are received in the RazorpayX account, it is reflected in the dashboard. You can now transfer the payment to vendors, employees using the payouts feature in RazorpayX.
Make your RazorpayX account the default settlement account
If you’re an online merchant using the Razorpay payment gateway, you can receive funds directly in your RazorpayX business account. For this, you have to make the RazorpayX account the default settlement account. Raise a request on the Razorpay payment gateway, to make the RazorpayX business account the settlement account.
Once your request is processed, you can start receiving funds directly in the RazorpayX business account.
Additional Reading: How Do I Check My Razorpay Payment