This article provides essential information and steps to ensure a smooth withdrawal process due to the specific requirements of Indusind Bank.
At Deel, we strive to provide a seamless withdrawal experience for our users. However, there is a unique situation regarding delayed withdrawals to Indusind Bank in India.
Before the bank credits the funds to the contractor's account, they may request additional documents for review. These documents typically include the contract agreement and relevant invoices. This process may result in an additional delay of 10 business days.
We understand that delays in the withdrawal process can be frustrating, especially when additional documentation is requested.
Steps to ensure a successful withdrawal:
1) When initiating a withdrawal in Indian Rupee (INR) to Indusind Bank, contractors should be aware that the bank may request additional documents before crediting the funds to their accounts. The request and review timeline is unfortunately beyond Deel’s control.
2) If contractors receive a request from Indusind Bank for additional documents, such as the contract and invoices, they should promptly provide the requested information. This step is crucial to facilitate the release of funds by the bank. Typically, Indusind will reach out by email or phone call.
3) Do not state that it is a salary payment. The bank may request the reason for the transaction. Since the payment was sent to Indusind Bank as “Software consultancy/implementation (other than those covered in SOFTEX form),” contractors should not state that it is a salary payment.
4) To expedite the process, we recommend preparing the necessary documents in advance, ensuring they are accurate and up to date. This will help minimize any potential delays.
5) If the bank has not requested any information from the contractor, then they are advised to reach out to gr.corporatecare@indusind.com with the following information: Date, Withdrawal Amount, and Branch details.