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Answered – Top Finance Questions Every Founder Has!

Neobanks have revolutionised financial services. But it can seem pretty complex for first-time founders or even experienced ones.  They come across multiple questions revolving around their business banking and finances.

And they might not end up finding the right answer. It can get confusing. Vexing.

We’ve curated this blog post carefully and covered all the top finance questions every founder might have.

Let’s hear this conversation between a sales representative(SPOC) and a founder.

Founder:” Why should I get a secondary Current Account? “

SPOC:Sure,  let me help you.

Many businesses have multiple Current Accounts to serve their different needs. To keep their accountant statements sane & easy to understand, founders generally have different accounts for different purposes like – operational expenses, salary payouts, funds storage, etc. 

Sometimes, the founders also need services like CC/OD, FD & FOREX, and they open another account with a bank that gives them the best service & better rates. 

With RazorpayX neobanking platform, founders can bring everything under a single platform & enjoy the benefits of the entire Razorpay ecosystem.

 We have automated solutions for receiving money, making payouts, compliance payments, payroll, accounting, collateral-free credit cards & even working capital loans. 


With RazorpayX in the front-end, now be tech savvy & efficient and with a bank in the back-end still avail all the benefits of traditional banking in a compliant way.”

Founder: What is Neobanking?

SPOC: Sure, let me simplify Neobanking for you.

Neobank is like a digital bank without any branches. It aims towards bridging the gap between what traditional banks offer and what customers expect. Smart platforms enable more data driven decision making and automates a lot of the manual work. It supercharges business finances and helps focus on growing their business.

Would you like to spend time in understanding the account statement & reconciling data or rather spend time looking at a ready-made business report to understand your most profitable product? 

The answer is simple. Neobanking will enable founders to make data driven decisions for their business, automate  financial operations and save the majority of their time and resources.

RazorpayX powered Current Account will supercharge your financial operations and automate your business banking.”



Founder: What are the features provided by RazorpayX powered Current Account?

 SPOC: “Here are some of the features provided by RazorpayX:

  • Instant Beneficiary Addition and no cooling off period
  • Collateral-free Corporate Credit card with 20X higher credit limits
  • Easy Accounting Integration with Accounting Tools like Zoho, Tally, Quickbooks.
  • Easy tax payment( Advanced Tax, GST, TDS)-all in one platform
  • Seamless Vendor Payment and automated Payroll and so much more.

And all of the above from just a single smart dashboard.

I will be sharing some material to you over email as well. Please let me know if you have further queries.”

Merchant:How is RazorpayX better than banks?

SPOC: “RazorpayX is better than your banks and here is how:

RazorpayX powered Current Account  Traditional Current Account

Smart Payouts

-Instant beneficiary addition 

-No cooling off period or transfer limits

-Instant beneficiary addition 

-No cooling off period or transfer limits




-24 to 48 hours cooling off period



Credit card 

-No personal guarantees

-20X higher limits and cash back.  

-Unlimited add-on cards and spend restrictions  

-Personal guarantees & deposits 

-Lower credit limits 


-Limited cash back



Foreign Funding inflow to India

-Dedicated team of funding & forex experts  

-No hidden charges

-100% compliance with easy paperwork

-Sales RM with no in-depth understanding/expertise

-Surprise charges at every step 

-Dense email-based paperwork without any guidance or support. 


Automated business spend 

-Pay TDS, GST, Advanced Tax in 30 seconds

-Payroll & Vendor Payments

-One single flow to make payments with no context, purpose or automation  “

Founder: How secure or transparent is it?

SPOC: “Razorpay takes the confidentiality of your data extremely seriously, and has adopted several measure to ensure its safety :

  • We are SOC2 and PCI certified. That means that external auditors have looked at our data practices, and have given their stamp of approval.
  • We have an in-house security team that periodically runs penetration tests on our entire infrastructure looking for weaknesses, and coordinates with our tech team to ensure everything is patched and kept up to date.
  • We use Amazon AWS for hosting. All your data is kept on servers in India, behind the best security that Amazon has to offer.
  • Data backup is done every few hours, and is accessible only in the case of a catastrophic failure (something which has yet to happen to us thankfully!”

Founder: Sure, so what are the documents needed to open a Current Account?

SPOC: “There are certain mandatory documents that you would need to open a Current Account for your business and you can further refer to the documents needed to open  a RazorpayX powered Current Account which have been segregated based on business type.


Please do let me know if you have any further queries.”

Merchant: Sure that helps, thank you for the support.

Via Razorpay Blog

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