If the bank account is classified as PPI, then it is for sure a PPI instrument, and for the majority of the use cases, consider it an invalid bank account since money movement doesn't happen when trying to deposit an amount through IMPS/NEFT/RTGS. There can be PPI instruments that come up as `UNKNOWN.` Please notify us at support@setu.co.

Types of bank accounts

  • PPI, if the payment happened from a PPI (Pre Paid Instrument) account and not a valid bank account

  • BANK_ACCOUNT, if the payment happened from a valid bank account and the IFSC is in the RBI database

  • UNKNOWN, if the payment happened from a bank account whose IFSC is not in the RBI database