India
Open
Business payments for Indian companies. The current account sits at a partner bank, not at Open.
7.1Solid
activeBusiness banking
- HQ
- Bengaluru
- Fee
- Plans sit on the live Open site. There is no single free plan we can print here.
RazorpayX
Razorpay’s business-banking layer. Current account at partner banks. Payouts API. Not a bank.
Legal entity: Razorpay Software Private Limited / Razorpay Payments Pvt Ltd — SKU-dependent
Rate this app
7.2Solid
AlternativesFive questions
At a glance
Is it a bank?
No. RazorpayX is not a bank. Your money sits with RBL, ICICI, Axis, YES or IDFC First — product-dependent, confirm live.
If it fails?
DICGC follows the partner bank on the statement.
Salary?
Not listed. An IBAN or sort code is not automatically a salary account.
Open from abroad?
Residency and KYC are gated. An App Store listing is not proof you can onboard.
Monthly fee
Confirm live X plan
Account number
No IBAN-class local rail on this file.
NeoBankDBVerdict
Licence first · score second
7.2
/10 · Solid
RazorpayX is the payouts machine Indian startups already have. The deposit is at a scheduled bank. File it on Business next to Open and Airwallex (different legal object: Airwallex is not an RBI current account). Do not headline it as a neobank.
What it is
Razorpay’s current-account + payouts + payroll + corporate-card stack. Partner banks have included RBL, ICICI, Axis, YES and IDFC First — product-dependent, confirm live. Razorpay Payments Pvt Ltd is an RBI authorised Payment Aggregator. That is a different object from the current account. Corporate cards have been issued with Mastercard / RBL / YES — confirm live.
Best for: Indian firms that already collect on Razorpay and want the money to leave through the same dashboard.
Last checked 2026-09-17. Not advice.
What it does well
- +Payouts machine Indian startups already have
- +Current account at a named scheduled bank
- +PA licence is a separate, named object
What to watch
- −Not a bank
- −Partner bank is product-dependent
- −Airwallex is a different legal object — do not flatten them
Legal entity, not the app icon
Who is behind it
- Legal name
- Razorpay Software Private Limited / Razorpay Payments Pvt Ltd — SKU-dependent
The product, not the brand colour
The account
- Platforms
- Web
- Account types
- Current account at partner bank · payouts · payroll · corporate cards
- Partner bank
- RBL, ICICI, Axis, YES, IDFC First — confirm live product
- Who can open
- Indian firms
- Availability
- India
How money actually moves
- Who holds the cash
- Current account at a partner bank
- How money moves
- UPI / INR
- Built for
- Business
- Settlement
- App-ledger instant; bank rails per corridor
- Freeze risk
- Bank-grade; still not freeze-proof
- Card
- RazorpayX lists a physical card and a virtual card on mastercard. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
DICGC follows the partner bank on the statement.
Who holds the money: RBL, ICICI, Axis, YES or IDFC First — product-dependent, confirm live
- RBI (partner banks)Fintech overlay — current account at scheduled banks · India
- RBIPayment Aggregator — Razorpay Payments Pvt Ltd (different object from the current account) · India
Fees
- Monthly
- Confirm live X plan
- FX markup
- Not an RBI foreign-currency current account in the Airwallex sense
- ATM
- Partner-bank rules
Features
- –IBAN
- –Fee-free core
- –Multi-currency
- –Apple Pay
- –Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- ✓Business
- –Kids
- –Halal
- Payouts API
- Payroll
- Vendor payments
- Corporate cards
Before you tap Sign up
How to open
Step 1
Name the partner bank
RBL, ICICI, Axis, YES or IDFC First — product-dependent. Confirm live.
Step 2
Do not mix the PA with the current account
Razorpay Payments Pvt Ltd is an RBI authorised Payment Aggregator. That is not the deposit.
Official help: razorpay.com/x/
Operator documents
Their own papers
These are the operator’s documents. They outrank this review if they disagree.
Score
- Safety25%
- 7.2
- Fees20%
- 7.6
- Features15%
- 8.2
- App15%
- 7.8
- Global15%
- 5.0
- Support10%
- 6.8
Change log
Full logLicence
Opened file on Business. Payouts + partner-bank current account.
Razorpay Payments Pvt Ltd PA licence is a different object from the current account.
Available in
Straight answers
FAQ
01Is RazorpayX a bank?
RazorpayX is not a licensed deposit-taker in the classic sense. Money, if any, sits with RBL, ICICI, Axis, YES or IDFC First — product-dependent, confirm live.
02How is money protected?
DICGC follows the partner bank on the statement.
03Where is RazorpayX available?
We list 1 market on NeoBankDB. Residency and onboarding rules still sit with RazorpayX.
04Card and wallets?
RazorpayX lists a physical card and a virtual card on mastercard. Confirm the live product in the app — a card is not a current account.
05Can I open RazorpayX remotely?
Residency and KYC are gated. An App Store listing is not proof you can onboard from your country.
06What is the legal name behind RazorpayX?
Razorpay Software Private Limited / Razorpay Payments Pvt Ltd — SKU-dependent. Read the entity on the statement, not the app icon.
07Is RazorpayX a bank?
No. Software. Current accounts issued by RBL, ICICI, Axis or YES — confirm live product.
08Where does DICGC sit?
At the named partner bank on the statement.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
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