When you send INR, you’ll need to choose the purpose of your payment. This is because we are a regulated financial institution and we need to collect the purpose to stay compliant.
What purpose codes do we offer?
The transfer purposes that you can select vary based on if you or the recipient is an individual (personal) or a business. You'll see the available transfer purposes when you set up your transfer.
| Personal purpose codes | Description |
|---|---|
| Money to Family | Payments to family |
| Savings | Payments for your own savings |
| Personal expenses | Payments for personal use, education or medical expenses, or to friends |
| General living expenses | Payments for day-to-day expenses |
| Property purchase | Payment for purchase of property |
| Deposit to Non-Resident Rupee (NRE) accounts | Payments to NRE accounts |
| Business purpose codes | Description |
|---|---|
| Travel expenses | Payments to travel agents, hotels or airlines |
| Loan repayment | Payments to repay a loan |
| Pay for services | Payment against export of services including software |
| Pay for goods | Payment against export of goods |
| Other business expenses | Payment for other business use cases such as trade transfers, education institutions, etc. |
The limit for sending to businesses in India is 1.5 million INR per invoice daily.
What transfer purposes aren't supported by Wise?
We don't support transfer purposes for:
payments to charities
payments for trade transfers exceeding 1.5M INR
foreign direct investments
salary payments to India in INR
What happens if I choose an incorrect purpose code?
If your transfer hasn't been sent out, then please reach out to our customer support team. Your transfer will be cancelled and refunded.
If your transfer was already sent out we're not able to alter the purpose codes for your transfer. If this happens you can:
Reach out to our customer support team. We'll get in touch with our partner to recollect transfers where possible.
Reach out to your beneficiary bank to reject the funds back to us. Once the funds are rejected and credited back to us, we'll be able to cancel and refund your transfer.
What purpose code should I choose if I'm sending money to buy a house?
It depends on the nature of your transfer:
If funds are for a housing loan, then choose repayment of loans.
If funds are to a real estate firm for housing investments, then choose property purchase. The recipient must be a business.
If funds are to family or friends for purchasing a house, then choose property purchase.
What happens if I can't find my intended purpose code in this list?
Unfortunately, we're unable to support purpose codes that aren't in this list. This means that if you wish to use a specific RBI purpose code that's not in this list, we don't support such transfer purposes.