Does EMI's ask for first deposit from personal /company bank account?

Hey there,

Would like to know after setup emi's id need to make the first deposit from personal or company bank?

Can directly receive money from online payment processor?

Cheers

Sols said:

For corporate accounts, it's normal and expected that incoming transfers are from other companies or people. They might ask for invoices or proof of business relationship, but that's about it. You might get more questions if the sender is an offshore company or from a high-risk country, though. Receiving settlement from a payment processor into your business EMI account shouldn't be any problem.

For personal accounts, most like to see that the first or at least one of the first transfers is from your own account. They tend to look at the overall profile more than individual transfers. If you are receiving money from a lot of different people and then spending the money, they might start to suspect you're running a commercial activity.

Tks for your answer. I got it. If corporate account so can receive money from payment processor (even if it the first payment)

Cheers