Purpose code for registration
gkmoinudeen
Posts: 2Member ✭
What is the purpose code for receiving royalty payments from books sold in other countries?
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GianmarcoPayoneer
Posts: 224Confirm Email, Administrator ✭✭✭✭✭✭✭
@gkmoinudeen Please note that in order to comply with India regulations, we are required to have the purpose code for your business transactions. Please log in to your online account, and select the purpose code that best describes your business transactions from the drop-down menu and click the "Update" button. We can not provide that for you, as this is on your part.
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@gkmoinudeen Could you please specify what do you mean by purpose code?
while registering the following screen is showing..
Select Purpose Code To comply with RBI regulation, select the purpose code that most accurately describes the transactions you are being paid for through Payoneer.
The purpose code you select will be applied to all future transactions
@gkmoinudeen We cannot advise you which purpose code to select- you will need to input the purpose code that best fits your business needs