Create Virtual Accounts🔗

Watch this video to create a Virtual Account.

To create a virtual account from the Dashboard:

1. Log into the Dashboard and click Smart Collect.

2. Click + Create Virtual Account.
   

3. Select the type of receiver in Methods to accept payments in this account field.
   By default, both Bank Transfers (NEFT, RTGS, IMPS) and UPI Transfer are enabled. This means that both virtual bank account and UPI ID can be created for the customer. You can choose to disable either as per your needs.

   • Enable Bank Transfer (NEFT, RTGS, IMPS) to create a virtual bank account.

   • Enable UPI Transfer to create a virtual UPI ID.

     • Create custom UPI ID - You can enter a custom descriptor, that is, a unique identifier for the customer in the UPI ID field. It can be a combination of letters and numbers, with a length of 12 characters. For example, gauravkumar1. If this field is left bank, the UPI ID is auto-generated.
     
     • The prefix, acmecorp can be modified using the click here link. This opens a small modal where you can enter a new prefix.

     Handy Tips
     An unregistered merchant cannot modify the structure (prefix and descriptor) of the UPI ID.

     

4. Select the Customer from the dropdown list. You can also create a new customer on-the-fly. You may skip this step and proceed with creation, if you do not wish to tag it to a specific customer. However, you cannot modify the virtual account and tag it to the customer later.

5. Click View Advance Options.

6. Add an Account Description for your internal reference.

7. You can set a closure date for the virtual account using the Close By option. Click Disable Auto Close option and select the date and time at which the account must be automatically closed. Ensure that the time specified is at least 15 minutes after the creation time.

8. Click Add Internal Note to enter any notes for internal reference.

9. Click Create Virtual Account.

Once the virtual account has been created, you can copy the details and share them with your customer.

The virtual account appears in the list as shown below:

Create Virtual Accounts with TPV🔗

Follow the virtual account creation steps (up to point 5) provided above. Then, complete these steps to add account details for the Third Party Validation:

Select the Bank Transfers (NEFT, RTGS, IMPS) checkbox to create virtual account details with TPV for bank transfers.

1. Click Configure to add details of Authorised Accounts.

   

2. Enter IFSC Code and Account Number.

   

3. Click + Add Another Account to add accounts. You can add up to 10 Authorised Accounts.

4. Click Save.

Complete the other steps mentioned on screen and click Create Virtual Account.

Once the virtual account has been created, you can copy the details and share them with your customer.

The virtual account appears in the list as shown below:

View Payments🔗

You can view the payments made to your virtual accounts on the Razorpay Dashboard.

To do this:

1. Log into the Razorpay Dashboard.
2. Navigate to Smart Collect → Payments.

List of payments made by customers is displayed here:

Related Information🔗

• Update Virtual Account

• Close Virtual Accounts

• Refund Payments

• Make Test Payments

• Search for a Virtual Account