Purpose Of Transfer codes

Glossary of Purpose Codes:

Payment purpose code is used to identify the purpose of each and every payment.

Purpose CodeDescription
IR001Transfer to own account
IR002Family Maintenance
IR003Education-related student expenses
IR004Medical Treatment
IR005Hotel Accommodation
IR007Utility Bills
IR008Repayment of Loans
IR009Tax Payment
IR010Purchase of Residential Property
IR011Payment of Property Rental
IR012Insurance Premium
IR013Product indemnity insurance
IR014Insurance Claims Payment
IR015Mutual Fund Investment
IR016Investment in Shares
IR01801Information Service Charges
IR01802Advertising & Public relations-related expenses
IR01803Royalty fees, trademark fees, patent fees, and copyright fees
IR01804Fees for brokers, front end fee, commitment fee, guarantee fee and custodian fee
IR01805Fees for advisors, technical assistance, and academic knowledge, including remuneration for specialists
IR01806Representative office expenses
IR01807Construction costs/expenses
IR01808Transportation fees for goods
IR01809For payment of exported goods
IR01810Delivery fees for goods
IR01811General Goods Trades - Offline trade