Why VBAs
A virtual bank account (VBA) is a per-customer bank account number, issued by our payments partner, that forwards anything received into your Polemarch wallet. Benefits:
- Source-locked: only transfers from *your* registered bank are accepted. Transfers from any other bank are auto-reversed.
- Instant reconciliation: the second the money lands, the wallet updates.
- Lower fees: VBA receive costs vs full PG costs differ significantly — we pass the savings on.
The flow
1. Add your bank on `Dashboard → Bank accounts`. We penny-drop verify and provision a dedicated VBA for that bank. 2. Copy the VBA (account number + IFSC) and paste it into your bank's IMPS/NEFT/RTGS transfer screen. 3. Transfer — any amount. The wallet credits in real time on IMPS, next banking hour on NEFT, same day on RTGS.
IMPS vs NEFT vs RTGS
- IMPS (Immediate Payment Service): 24×7, real-time, ₹5L limit per transaction. Recommended for most deposits.
- NEFT: hourly batches 24×7, no upper limit, slower.
- RTGS: ₹2L minimum, real-time, same-day settlement. Recommended for large deposits.
Why did my transfer bounce?
- Wrong source bank: you transferred from a bank that isn't registered on Polemarch. We reverse the transfer within 1 working hour.
- Name mismatch on bank-end SCP check: your bank flagged the transfer as a possible fraud. Contact your bank.
- Limit exceeded: IMPS caps at ₹5L per transaction. For larger amounts use RTGS, or break into multiple IMPS runs.
Partial orders and held status
If your wallet has less than the order total, the order is placed on hold. Any further VBA credit auto-captures held orders in FIFO order — your oldest held order clears first.
You can add funds anytime; we don't charge for the hold period.