RazorpayX Zero-Balance Smart Current Account

Automated vendor payouts, scheduled tax payments & instant UPI collections.

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Overview Tech Specs Pros & Cons ITC & Tax Guide FAQs

Why GST Maker Recommends This

Tested & validated specifically for Indian GST compliance

Traditional bank current accounts lock ₹25,000 to ₹1,00,000 in non-interest Minimum Average Balance (MAB). RazorpayX partners with leading scheduled banks (RBL/ICICI) to offer zero MAB penalty accounts designed specifically for digital businesses, MSMEs, and startups.

Detailed Product Overview

Modern business banking integrated with payroll, tax calculations, and GST invoice tracking. Includes corporate expense cards with 0 forex markup and automated vendor payouts.

Key Features & Capabilities

Zero Minimum Average Balance (MAB) requirements without penalty fees

Bulk vendor payouts via NEFT, RTGS, and IMPS in one click

Automated TDS deduction and advance tax challan generation

Virtual corporate cards for software subscriptions with custom spend limits

Instant payment link and dynamic UPI QR generation for client invoices

Technical Specifications

Official Specs

Account Type	Digital Smart Current Account (in partnership with Scheduled Banks)
Minimum Balance	₹0 (Zero Balance)
Daily Transfer Limit	Up to ₹50 Lakhs (extendable on verification)
Banking Hours	24x7x365 Instant IMPS & UPI Payouts
Security	2-Factor Authentication, Role-based team access controls
Mobile App	Available on iOS and Android

The Highlights (Pros)

No locked working capital in idle minimum balance deposits
Automates supplier payouts directly matching your GST purchase bills
Real-time webhook notifications when clients pay your invoices
Clean mobile dashboard for company directors and partners

Points to Note (Cons)

Requires active GSTIN, PAN, and valid business registration documents
Cash deposit at physical bank branches incurs partner bank nominal fees

Banking & Payment Fee ITC (18% GST)

Eligible on Processing & MDR (SAC 9971)

While pure bank deposits and account opening are exempt from GST, all payment gateway platform fees, corporate card charges, and merchant processing fees include 18% GST (SAC 9971), which is 100% ITC-eligible for registered businesses.

1. Link GSTIN to Account Add your registered GSTIN in your merchant profile.

2. Monthly Tax Invoices Download monthly B2B GST tax statements for all fees.

3. Claim Full ITC Offset 18% GST in monthly GSTR-3B filings.

Frequently Asked Questions

4 Answers

No. This smart digital business account features zero minimum balance requirements, freeing your capital from idle penalty reserves.

You can connect your account for automated vendor payouts directly matching GST purchase bills and receive instant client invoice collections via UPI QR.

Yes. GST (18%) charged on payment gateway processing fees and account services (SAC 9971) is 100% claimable as Input Tax Credit under Section 16.

Yes. Accounts are operated through licensed scheduled commercial banks regulated by the Reserve Bank of India (RBI) with DICGC deposit insurance.

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