Feedback about RazorpayX

[faith1201]

Hi guys,

We're looking to get a current account opened for our company and are unable to decide which bank/service to use. For context, we recently got incorporated (2 weeks ago) and are looking for a reliable service with good customer support, supports zero balance accounts, and has reasonable pricing (offering a corporate credit card is also a plus though do not need it as of now).

I came across RazorpayX and was impressed by the features and the reviews by other startup founders. Has anyone here used it and what is your feedback?

 

[yola]

@faith1201 Did you use razorpay rise to get incorporated?

 

[faith1201]

@yola Nope, we hired a CS to do that.

 

[holla]

@faith1201 Won’t recommend - customer service is pathetic, their system has bugs during heavy traffic.

 

[faith1201]

@holla Thanks for the tip. What bank/service has worked well for you so far?

 

[rawnjaze]

@faith1201 ICICI or Kotak Mahindra

 

[abc12321]

@faith1201 I found RazorpayX easy to implement and they had good customer support. Eventually, I implemented Stripe because I am targeting global users.

My biggest hitch is that Stripe doesn't work with RuPay, and a lot of Indian cards nowadays are in RuPay.

Razorpay works better if you have mostly Indian users because of the recent RBI guidelines.

 

[theguy111]

@faith1201 Have not used razorpayx , but our startup uses the payment gateway . Shortly after starting I raised a ticket . They promise eight hour SLA but after 8 weeks and three follow ups they never replied . So Cust service - - non existent

 

[scotty087]

@faith1201 As mentioned earlier their customer service is pathetic and the communication is also super bad.

I had to send payments/salaries to my employees and vendors and suddenly I was not able to do so. I just filed support tickets for 4 days and they were "LOOKING into the issues".

On day 5, I received a call that I need to do a video KYC (I am using them for 2 years) and after which they will unblock the account.

Lessons learned, never rely on one vendor. Due to this only, this portrayed a negative image for all my employees and vendors. I know everyone understands the tech issues, but this is the 1st time in 4 years when payments are delayed from my end.

I have loaded a lot of money which is stuck there because you can't even withdraw!

 

[slavic7]

@faith1201 3 year old funded startup. Great experience with RazorpayX so far. For banking and payouts, I would definitely recommend it.
You avoid a LOT the paperwork and secretarial work required for commercial banking except while setting up.
Using their virtual account is actually free, so your team can use it and test it out free of cost - that’s how we had started. Current load is roughly 300-400transactions per month and works much better than regular banking. That said, we also get good service because we use their payments gateway for revenues, so relationship with the RM is solid.
Only drawback is that their full stack features in current account only work with RBL - which shouldn’t really matter as long as you do not need a large network of physical branches across India.

Definitely recommend over regular banks.

 

[jennygeddes]

@faith1201 Hey !
We've () been using RazorPay for a bit now. We've had no () issues as of now. Our traffic volumes are not high only 200/month
We recently tookntheir credit card too, helps with the credit rating.
Cheers!

 

[613jono]

@faith1201 We use rpX for other services, all going good so far.

 

[kathyharville]

@faith1201 I’ve been using RazorpayX Current Account for about a year now and I haven’t faced any issues so far.

The customer support has been good till now. They’re available on email and chat. I’ve always had my queries addressed quickly.

Since you are a newly incorporated startup, RazorpayX might be a good option for you considering the support available.

Also, they have other great range of payment products for collections and payout too.