Setting Up Your Payouts and Bank Details

Nothing sours a first sale like discovering the money cannot reach you. Payout setup takes ten minutes and it is worth doing before you earn anything rather than after.

Get the name exactly right

The name on your bank account must match the name on your platform account and, where required, your PAN. Not close, exactly. A payout to Aniket P Manwatkar from an account reading Aniket Prakash Manwatkar can be rejected, and the failure surfaces days later.

Check the IFSC against the branch

An IFSC identifies a specific branch. Copying one from an old cheque book after your branch merged is a common cause of failed transfers. Take it from your current bank statement or netbanking.

Add your PAN first

This is the highest-value five minutes in the whole setup. Without a PAN, section 206AA raises TDS from 0.1 percent to 5 percent and removes the exemption for earnings under five lakh in a financial year. That is a fiftyfold difference, on your own money, for a field you could have filled in.

Understand the timing

Money released from escrow lands in your platform balance immediately. Moving it to your bank is a separate step and takes as long as the banking rails take, typically one to three working days. Plan around that rather than being surprised by it.

Released is not the same as received. Know which one you are looking at before you promise the money to somebody else.

Keep it current

If you change banks, update it before your next withdrawal, not after a payout fails. A failed transfer is slower to unwind than it is to prevent.