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suvendu1987
Community Member

Direct to Local Bank (INR)

Hi,

 

I would soon be withdrawing my first earning & I have an Axis bank (India) A/C which I set up successfully with upwork under "Direct to Local Bank (INR)" method.

 

Now, I just wanted to know whether there is anything (i.e any formalities, filling up a form or whatever) needs to be done, with my local branch. Just want to make sure before the withdrawl.

 

Any one who is withdrawing funds to Indian banks (Axis to be specific), kindly let me know about any specifics which I need to know before the withdrawl.

 

Thanks for your support

ACCEPTED SOLUTION
vinitraje
Community Member


@Suvendu D wrote:

Hi,

 

I would soon be withdrawing my first earning & I have an Axis bank (India) A/C which I set up successfully with upwork under "Direct to Local Bank (INR)" method.

 

Now, I just wanted to know whether there is anything (i.e any formalities, filling up a form or whatever) needs to be done, with my local branch. Just want to make sure before the withdrawl.

 

Any one who is withdrawing funds to Indian banks (Axis to be specific), kindly let me know about any specifics which I need to know before the withdrawl.

 

Thanks for your support


 
Suvendu, just make sure your account is KYC compliant, other than that there are no additional formalities. You'll receive the funds via NEFT. In my experience it takes two days to reach the money in the bank account, if you withdraw on Wednesday the money shall reach you on Friday excluding any holidays.

Congratulations on your first earnings! 🙂

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4 REPLIES 4
juvy_ann-palma
Community Member

For direct-to-local-bank transactions, what is necessary is a valid withdrawal method.  Debit cards are preferred over cash cards.  The bank account must be sound so that the transfer of funds will be smooth.

vinitraje
Community Member


@Suvendu D wrote:

Hi,

 

I would soon be withdrawing my first earning & I have an Axis bank (India) A/C which I set up successfully with upwork under "Direct to Local Bank (INR)" method.

 

Now, I just wanted to know whether there is anything (i.e any formalities, filling up a form or whatever) needs to be done, with my local branch. Just want to make sure before the withdrawl.

 

Any one who is withdrawing funds to Indian banks (Axis to be specific), kindly let me know about any specifics which I need to know before the withdrawl.

 

Thanks for your support


 
Suvendu, just make sure your account is KYC compliant, other than that there are no additional formalities. You'll receive the funds via NEFT. In my experience it takes two days to reach the money in the bank account, if you withdraw on Wednesday the money shall reach you on Friday excluding any holidays.

Congratulations on your first earnings! 🙂

Thank you Vinit, for your reply. My account is KYC compliant, only Adhar is missing I guess. I will check & link that before withdrawing.

Are there any compliances a freelancer in India should adhere to before receiving funds?
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