India - Purpose Code for Payoneer payments.

[Asim Safwan]

Hi... I wanted to know the purpose code for payments through payoneer, what category does domaining fall in? I would like the Indian brothers to reply. Thank You

 

[Crysis]

Don't know about Payoneer.

But generally, for inward and outward remittance, I usually provide the following purpose code to the banks.

Inward Remittance: "P0019 - Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks etc ., use of natural resources) – Non-Government"

Outward Remittance: "S0019 - Acquisition of non-produced non-financial assets (Purchase of intangible assets like patents, copyrights, trademarks etc., use of natural resources) – NonGovernment"

 

[Asim Safwan]

Don't know about Payoneer.

But generally, for inward and outward remittance, I usually provide the following purpose code to the banks.

Inward Remittance: "P0019 - Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks etc ., use of natural resources) – Non-Government"

Outward Remittance: "S0019 - Acquisition of non-produced non-financial assets (Purchase of intangible assets like patents, copyrights, trademarks etc., use of natural resources) – NonGovernment"

Thank you very much bro. Cheers!