A UTR (Unique Transaction Reference) is a unique code assigned to each transaction sent to India. It acts like a tracking number for your transfer.
Understanding UTR Numbers
Here's a breakdown of what you need to know about UTR numbers:
- Purpose: UTR numbers help track and identify specific financial transactions.
- Usage: They are primarily used for transfers sent to India.
- Visibility: The UTR number is visible on the recipient's bank statement, helping them identify the incoming transfer.
- Format: According to the provided reference, the exact format can differ according to the payment method. This means you might see different types of UTR numbers depending on how the transfer was processed.
Key Takeaways
| Feature | Description |
|---|---|
| Definition | Unique reference code for transfers to India. |
| Purpose | Tracking and identification of transactions. |
| Location | Visible on the recipient's bank statement. |
| Format | Varies depending on the payment method used for the transfer. |
| Related Terms | Also sometimes referred to as a transaction reference number or ARN. |
In essence, the UTR number is your proof of transaction and helps both sender and receiver keep track of the funds.
