Get in Touch

Contact

Get in Touch

Contact Details

Phone Number

+91 800 863 9080

Email

info@payaidpayments.com

Address​

Plot No 4/2, Sector 1, Second Floor, RAM SVR, Madhapur, HUDA Techno Enclave, HITEC City, Hyderabad, Telangana 500081

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Frequently Asked Questions

Optimise your international money transfers by learning about purpose codes for inward & outward remittances.

Purpose CodeDescription
P0102Realisation of export bills (in respect of goods) sent on collection (full invoice value)
P0103Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF
P0201Receipts of surplus freight/passenger fare by Indian shipping companies operating abroad
P0301Purchases towards travel (includes purchase of foreign TCs, currency notes, etc.)
P0302Business travel
P0304Travel for medical treatment including TCs purchased by hospitals
P0305Travel for education including TCs purchased by educational institutions
P0399Other travel receipts
P0801Hardware consultancy/implementation
P0802Software consultancy/implementation (other than those covered in SOFTEX form)
P0803Database, data processing charges
P0804Repair and maintenance of computer and software
P0807Off-site Software Exports
P0901Franchise services – patents, copyrights, trademarks, industrial processes, franchises, etc.
P0902Receipts for use, through licensing arrangements, of produced originals or prototypes
P1002Trade-related services – Commission on exports/imports
P1004Legal services
P1005Accounting, auditing, bookkeeping, and tax consulting services
P1006Business and management consultancy and public relations services
P1007Advertising, trade fair, market research, and public opinion polling services
P1008Research & Development services
P1009Engineering Services
P1016Market research and public opinion polling service
P1017Publishing and printing services
P1019Commission agent services
P1020Wholesale and retailing trade services
P1022Other Technical Services including scientific/space services
P1101Audio-visual and related services – services and associated fees related to the production of motion pictures, rentals, fees received by actors, directors, producers, and fees for distribution rights
P1109Other Personal, Cultural & Recreational services
P1306Receipts/Refund of taxes
P1501Refunds/rebates on account of imports
P1502Reversal of wrong entries, refunds of the amount remitted for non-imports
P1701Receipts on account of processing of goods

For inquiries regarding purpose codes not listed here, please contact us at support@payaidpayment.com.

You can receive funds from the following countries and regions. Please note that this list is subject to change.

Currently, we accept funds from:

A
AD Andorra
AE United Arab Emirates
AG Antigua and Barbuda
AI Anguilla
AL Albania
AM Armenia
AO Angola
AR Argentina
AT Austria
AU Australia
AW Aruba
AZ Azerbaijan

B
BA Bosnia and Herzegovina
BB Barbados
BE Belgium
BF Burkina Faso
BG Bulgaria
BH Bahrain
BI Burundi
BJ Benin
BM Bermuda
BN Brunei Darussalam
BO Bolivia, Plurinational State of
BR Brazil
BS Bahamas
BW Botswana
BZ Belize

C
CA Canada
CG Congo
CH Switzerland
CI Côte d'Ivoire
CL Chile
CM Cameroon
CN China
CO Colombia
CR Costa Rica
CV Cape Verde
CY Cyprus
CZ Czech Republic

D
DE Germany
DJ Djibouti
DK Denmark
DM Dominica
DO Dominican Republic
DZ Algeria

E
EC Ecuador
EE Estonia
EG Egypt
ER Eritrea
ES Spain

F
FI Finland
FJ Fiji
FK Falkland Islands (Malvinas)
FO Faroe Islands
FR France

G
GA Gabon
GB United Kingdom
GD Grenada
GE Georgia
GF French Guiana
GH Ghana
GI Gibraltar
GL Greenland
GM Gambia
GN Guinea
GP Guadeloupe
GQ Equatorial Guinea
GR Greece
GT Guatemala
GU Guam
GW Guinea-Bissau

H
HK Hong Kong
HN Honduras
HR Croatia
HT Haiti
HU Hungary

I
ID Indonesia
IE Ireland
IL Israel
IS Iceland
IT Italy

J–K
JO Jordan
JP Japan
KE Kenya
KG Kyrgyzstan
KH Cambodia
KI Kiribati
KR Korea, Republic of
KW Kuwait
KY Cayman Islands
KZ Kazakhstan

L
LI Liechtenstein
LR Liberia
LS Lesotho
LT Lithuania
LU Luxembourg
LV Latvia

M
MA Morocco
MD Moldova, Republic of
ME Montenegro
MG Madagascar
MN Mongolia
MR Mauritania
MT Malta
MU Mauritius
MW Malawi
MX Mexico
MY Malaysia
MZ Mozambique

N
NA Namibia
NE Niger
NG Nigeria
NL Netherlands
NO Norway
NZ New Zealand

O–P
OM Oman
PA Panama
PE Peru
PF French Polynesia
PG Papua New Guinea
PH Philippines
PL Poland
PR Puerto Rico
PS Palestine, State of
PT Portugal
PY Paraguay

Q–R
QA Qatar
RO Romania
RS Serbia

S
SA Saudi Arabia
SE Sweden
SG Singapore
SI Slovenia
SK Slovakia
SL Sierra Leone
SN Senegal
SM San Marino
SZ Swaziland

T
TD Chad
TG Togo
TH Thailand
TJ Tajikistan
TL Timor-Leste
TM Turkmenistan
TN Tunisia
TR Turkey
TT Trinidad and Tobago
TW Taiwan, Province of China
TZ Tanzania, United Republic of

U–V
UG Uganda
US United States
UY Uruguay
VG Virgin Islands, British
VN Vietnam

Z
ZA South Africa

If you have specific questions about receiving payments from these countries, please email us at support@payaidpayment.com.

Here are the key elements you need to include in your invoice:

 

  1. Invoice Number: A unique identifier for each invoice.
  2. Invoice Date: The date when the invoice is issued.
  3. Name of the Sender (Your Client): The full name of the individual or business you are invoicing.
  4. Complete Address of the Sender: The full address of the client, including street, city, state, and zip code.
  5. Name of the Receiver: Your name or your company's name.
  6. Complete Address of the Receiver: Your address or the company address.
  7. Your GST Number (for Businesses): Your Goods and Services Tax identification number.
  8. Short Description: A brief description of the goods or services provided.
  9. Total Amount: The total amount due, including any taxes and discounts.
  10. Bank Details: Double check while entering your bank details to ensure that you've entered the correct details.

With the PayAid global collections account, you can receive money in 30+ currencies and 180 countries. The currencies are

CountryCurrency CodeCountryCurrency CodeCountryCurrency Code
United StatesUSDJapanJPYSwitzerlandCHF
United KingdomGBPKenyaKESThailandTHB
Eurozone (Countries using the Euro)EURKuwaitKWDTurkeyTRY
CanadaCADMexicoMXNUgandaUGX
AustraliaAUDNew ZealandNZDUnited Arab EmiratesAED
BahrainBHDNorwayNOK
BulgariaBGNOmanOMR
ChinaCNYPolandPLN
CroatiaHRKQatarQAR
Czech RepublicCZKRomaniaRON
DenmarkDKKSaudi ArabiaSAR
Hong KongHKDSingaporeSGD
HungaryHUFSouth AfricaZAR
IsraelILSSwedenSEK

 

Here is the list of countries.

  • Åland Islands
  • Algeria
  • Gibraltar
  • Papua New Guinea
  • Greece
  • Paraguay
  • Andorra
  • Greenland
  • Angola
  • Grenada
  • Philippines
  • Anguilla
  • Guadeloupe
  • Pitcairn
  • Antigua and Barbuda
  • Poland
  • Argentina
  • Guernsey
  • Portugal
  • Armenia
  • Guinea
  • Puerto Rico
  • Aruba
  • Heard Island and McDonald Islands
  • Qatar
  • Australia
  • Hong Kong
  • Republic of the Congo (Brazzaville)
  • Austria
  • Hungary
  • Réunion
  • Azerbaijan
  • Iceland
  • Romania
  • Rwanda
  • Bahrain
  • Indonesia
  • Saint Berthélemy
  • Bangladesh
  • Ireland
  • Belgium
  • Israel
  • Saint Pierre and Miquelon
  • Belize
  • Italy
  • Benin
  • San Marino
  • Bermuda
  • Japan
  • São Tomé and Principe
  • Bhutan
  • Jersey
  • Saudi Arabia
  • Bolivia
  • Serbia
  • Bonaire, Sint Eustatius and Saba
  • Kenya
  • Seychelles
  • Bosnia-Herzegovina
  • Kiribati
  • Sierra Leone
  • Kosovo
  • Singapore
  • Bouvet Island
  • Kuwait
  • Slovakia
  • Brazil
  • Kyrgyzstan
  • Slovenia
  • British Indian Ocean Territory
  • Lao People's Democratic Republic
  • Solomon Islands
  • British Virgin Islands
  • Latvia
  • South Africa
  • Brunei Darussalam
  • Lesotho
  • South Georgia and the South Sandwich Islands
  • Bulgaria
  • Liberia
  • South Korea
  • Cameroon
  • Lithuania
  • Sri Lanka
  • Canada
  • Luxembourg
  • St Kitts & Nevis
  • Cape Verde
  • Macau
  • St Lucia
  • Cayman Islands
  • Macedonia
  • St Maarten
  • Chad
  • Madagascar
  • St. Vincent and the Grenadines
  • Chile
  • Malawi
  • Suriname
  • China
  • Malaysia
  • Svalbard and Mayen
  • Christmas Island
  • Maldives
  • Swaziland
  • Cocos (Keeling) Islands
  • Malta
  • Sweden
  • Comoros
  • Marshall Islands
  • Switzerland
  • Cook Islands
  • Martinique
  • Taiwan
  • Costa Rica
  • Mauritania
  • Côte D'Ivoire
  • Mauritius
  • Croatia
  • Mayotte
  • Thailand
  • Curacao
  • Cyprus
  • Micronesia
  • Togo
  • Czech Republic
  • Monaco
  • Denmark
  • Mongolia
  • Djibouti
  • Montenegro
  • Dominica
  • Montserrat
  • Tunisia
  • Ecuador
  • Turkey
  • Egypt
  • Turks & Caicos
  • Equatorial Guinea
  • Namibia
  • Tuvalu
  • Estonia
  • Nauru
  • Falkland Islands
  • Nepal
  • United Arab Emirates
  • Faroe islands
  • Netherlands
  • United Kingdom
  • Fiji
  • United States
  • Finland
  • New Caledonia
  • France
  • New Zealand
  • French Guiana
  • Niger
  • Uruguay
  • French Polynesia
  • Niue
  • Uzbekistan
  • French Southern Territories
  • Norfolk Island
  • Vatican City State (Holy See)
  • Gabon
  • North Mariana Islands
  • Vietnam
  • Gambia
  • Norway
  • Wallis and Futuna
  • Georgia
  • Oman
  • Zambia
  • Germany
  • Palau
  • Iceland
  • Peru
  • Lebanon
  • Liechtenstein
  • Syria
  • Tanzania
  • Uzbekistan
  • Yemen
  • Afghanistan
  • Albania
  • Antarctica
  • Antigua & Barbuda
  • Armenia
  • Australia
  • Azerbaijan
  • Austria
  • Bahrain
  • Bangladesh
  • Belgium
  • Belize
  • Benin
  • Bermuda
  • Bhutan

You will receive an email as soon as you receive a payment in your account.

Start receiving payments from around the globe with PayAid! Open your account now!

PayAid does not support the following businesses:

  • Weapons / military-grade security
  • Multi-level marketing
  • Pawnbrokers (MCC: 5932 - Pawn Shops)
  • Political organizations (MCC: 8651 - Organizations, Political)
  • Precious metals and stones, including diamond traders (MCC: 5094 - Precious Stones and Metals, Watches and Jewelry)
  • Unauthorized resale of luxury goods - including watch traders
  • Adult entertainment
  • Drug paraphernalia
  • CBD and related products
  • Carbon credits, including carbon credits traders
  • Cryptocassets
  • Gambling (MCC: 7995 - Betting (including Lottery Tickets, Casino Gaming Chips, Off-track Betting and Wagers))
  • Ponzi / pyramid schemes
  • Firms involved in the servicing of illegal goods/services, including but not limited to counterfeit goods/trademark infringement, human trafficking, child labour, and prostitution.
  • Mining and extraction
  • Scrap metal traders
  • Energy traders
  • Speculative trading
  • Financial institutions making payments on behalf of other financial institutions, also known as 'nested relationships' or 'layering.'
  • Shell banks
  • Unregistered charities
  • Chemicals
  • FDA-classified medical devices
  • Medications or prescription drugs
  • Alcohol (MCC: 5813 - Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail Lounges, Nightclubs and Discotheques)
  • Tobacco (MCC: 5993 - Cigar Stores and Stands)
  • Dietary supplements
  • Seeds or plants (MCC: 5193 - Florists Supplies, Nursery Stock, and Flowers)
  • Regulated financial services
  • Outbound telemarketing (MCC: 5966 - Direct Marketing-Outbound Telemarketing Merchants)

If you're unsure whether your business activities are supported or if you need further clarification, feel free to contact us at support@payaidpayment.com and we'll be happy to assist!

You can receive and hold money globally using the PayAid global collections account. Here's how it works:

Receive: You get account details for multiple currency accounts to receive money from all over the world. You get local account details for USD, GBP, EUR and CAD. Plus, SWIFT account details for 30+ other currencies.

Withdraw: You can collect payments from 180 countries in 30+ currencies and withdraw to INR in as little as 1 day.

Note: You can hold currencies in your account for up to 30 days. However, you must bring them back to India within 30 days.

If you need to reset your password, follow these simple steps:

  1. Go to the Login page.
  2. Enter your registered email ID.
  3. Click on "Forgot Password."
  4. You will receive an OTP (One-Time Password) on your registered email ID and phone number.
  5. After entering the OTP, follow the prompts to successfully reset your password.

 

Please be mindful of the following potential errors when setting a new password:

  1. The password is too short.
  2. Password contains your first name, last name, or a part of your email address before '@'.
  3. Password contains spaces.
  4. The password is too weak.
  5. The password cannot be the same as the last one.

 

Need further assistance? Contact our support team for help!

To withdraw your funds from your global collections account, please follow the steps below:

  1. Log in to the PayAid portal.
  2. Navigate to the 'Transactions' tab and select 'Withdraw'.
  3. Fill in the correct purpose code for your transfer and select your beneficiary details. Then add an invoice and click 'Save and Proceed'.
  4. You will see the conversion rates and the amount you will receive. Click on 'Review' to proceed.
  5. Review all your details to ensure they are correct, and click 'Confirm Withdrawal'.
  6. Click 'Confirm Withdrawal'.

 

Your funds will be credited to your account within 1-2 business days. In case we need any additional information regarding the withdrawal, we will contact you.

To open a global collections account with PayAid, you'll need the following documents handy:

 

  1. PAN
  2. Aadhar
  3. Marketing channel link (website/LinkedIn profile link/Upwork link, etc)
  4. Bank details (account number & IFSC)

 

Ready to open your global collections account? Click here to get started!

To open a global collections account with PayAid, you'll need the following documents handy:

  1. PAN
  2. Aadhar
  3. Marketing channel link (website/LinkedIn profile link/social media, etc)
  4. Bank Details (account number & IFSC)
  5. Business Registration Details

 

Ready to open your global collections account? Click here to get started!

To receive unlimited GBP, you need to share your GBP account details with the sender, depending on where the payment is originating from.

 

If payment originates from within the UK

 

Share your GBP Account Sort Code and Account number with the sender. You will receive the money within 1-3 business days, but usually within few hours. You will receive the full amount.

 

If payment originates outside the UK

 

Share your SWIFT account details with the sender. There is no limit on the amount you can receive. The time it will take for the money to reach you is dependent on the method you choose.

 

  1. BACS credit takes up to 3 business days.
  2. FPS takes a few minutes up to 2 hours.
  3. If your CHAPS payments is of GBP 10,000 or more, settlement typically occurs within a couple of hours if initiated before 3 pm.

 

You will receive the full amount (minus the SWIFT receipt fee) if the person/company sending the SWIFT Transfer has chosen a SWIFT (OURS) transaction. You may receive a reduced amount if the sender has chosen SWIFT(SHA) when initiating the SWIFT transfer from their bank, as intermediary banks may deduct fees.

 

You can access this from the Overview dashboard → Great British Pounds

Once you click on the currency, you will see the page, To send your details to your client, click on the copy account details button.

 

Start receiving your GBP payments today. Open your PayAid account today.

To add a beneficiary to your PayAid account, please follow these steps:

Step 1: Log in to your account, navigate to 'Beneficiary', and click on 'Add Beneficiary'.

Step 2: Fill in beneficiary details. Ensure all details are correct before finalizing.

Please note: You can only add one beneficiary, and it must be in your name.

To receive unlimited USD payments, simply copy your account details and share them with your clients or counterparties.

Please note that you can also access your account details by navigating to the left sidebar, then Account Details, and finally selecting United States Dollar. Or you can see it from the overview tab → United States Dollar

Once you click on the currency, you will see the page below. To send your details to your client, click on the copy account details button.

For payments originating within the US, there are three primary methods:

ACH: Share your ACH details, including your account number, routing number, and bank details. ACH transfers typically take 1-3 business days to complete. Receiving ACH transfers is free, and the sender usually does not incur fees.

Fedwire: If ACH is not feasible, you can opt for Fedwire, which allows for instant funds transfer within the US, often taking just a few minutes.

RTP (Real-Time Payments): RTP enables immediate fund transfers, but its adoption is not widespread. It's recommended only if the sender bank has adopted this method.

For payments originating outside the US, SWIFT is the preferred option:

Simply share your SWIFT account details. There's no limit on the amount you can receive, and the processing time depends on the sending and intermediary banks involved.

 

Start receiving your USD payments seamlessly today by opening your PayAid account.

PayAid's collection account offers several features:

  1. Unlimited USD, GBP, CAD and EUR Transactions: Enjoy receiving unlimited USD, GBP, CAD and EUR with no extra charges.
  2. Low Transaction Costs: Pay less in fees! Our transaction costs are as low as 0.99%, way cheaper than regular banks.
  3. Quick Payments: Receive your payments within one day.
  4. Global Reach: Receive payments from over 180 countries in 33 different currencies.
  5. Transparent Pricing: Enjoy clear, upfront pricing and know exactly what you pay.

Ready to streamline your international transactions with these benefits? Open your PayAid account today.

PayAid's global collections account offers a range of uses and benefits for individuals and businesses:

  1. Cost-Effective Banking: With mid-market rates and no FX markup, the global collections account helps you save up to 80% of your international payments.
  2. Currency Conversion: Enjoy competitive exchange rates for currency conversion to INR for withdrawal.
  3. Global Access: Receive your payments from 30+ currencies and over 180+ countries.

Ready to experience the benefits of the Global Collections Account? Open your account now!

To change your beneficiary details, please do the following:

  1. Log into your account at PayAid..
  2. Click on the "Beneficiary" tab on the left side.
  1. Select "Update Beneficiary."
  1. Fill in the new details such as 'Bank Account Holder Name', 'Bank Account Number', and 'IFSC Code', then click on "Update."

Note: Your beneficiary details will be updated within 1 business day. And you can only have one registered beneficiary, which must be in your name.

No, you do not have to maintain any minimum account balance with PayAid. However, we have a collection fee starting from $3 + 0.99%.

The following countries and regions are restricted due to regulatory, compliance, or sanctions-related reasons. We are unable to support accounts, transactions, or services linked to these jurisdictions:

 

  1. Belarus
  2. Crimea
  3. Cuba
  4. Donetsk region of Ukraine
  5. Iran
  6. Kazakhstan
  7. Kherson region of Ukraine
  8. Libya
  9. Luhansk region of Ukraine
  10. Myanmar (Burma)
  11. North Korea

To view your account details, follow the below steps:

 

  1. Log in to your account.
  2. Once logged in, navigate to account details.
  3. Select the currency and view your account details.

 

Ready to access your account details? Log in now!

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