What are the steps to send money to IBKR, Paasa or Vested from the AU Bank app with purpose code S0001?

Step-by-Step App Workflow & Setup

1. Initiation: Log into the app/netbanking and select 'Send money abroad'.
2. Add Recipient Details or pick a saved beneficiary: Fill in the SWIFT code, Bank Name, Bank Address, Routing Number, and Beneficiary Details (IBKR / Paasa / Vested, etc.).
   • For IBKR/Paasa:
     • First Name: Interactive Brokers LLC
     • Address Line 1: One Pickwick Plaza
     • City: Greenwich - 06830
     • State: Connecticut
     • Country: United States
   • ⚠️ CRITICAL TIP FOR ACCOUNT NUMBERS: The account number field in the AU Bank portal only accepts numeric characters.
   • If you are using Paasa, an account string like 40801234U24912345 must be split into two parts: enter the numbers before the 'U' in the Account Number field, and put the rest into the SWIFT instructions in a later step.
   • If you are using Direct IBKR, the specific account reference number (e.g., U1234567) goes in the SWIFT instructions / Remarks field on the subsequent screen.
3. Select Purpose & Amount:
   • Purpose: Indian Portfolio Investment Abroad In Equity Shares (S0001).
   • Enter the USD amount. The fee breakdown screen explicitly shows Zero Forex Markup and ₹0 processing charges; only statutory GST is added.
4. Select Funding Account & Source: Pick your AU account and select the source of funds (Savings / Salary / Income from business, etc).
5. Document Uploads:
   • Investment Evidence: Account Confirmation Letter or payment details screenshot showing beneficiary details.
   • Financial Proof (Upload any 1): 1-year non-AU bank statement, latest filed ITR, or Income Tax Assessment Order.
6. LRS Declaration & RBI Tracking:
   • Accept the 'Overseas Portfolio Investment under LRS' self-declaration.
   • The next screen auto-populates your utilised LRS limit for the current FY (pulled from RBI's CBS data up to 2 days ago). Manually add any remittance entries made yesterday or today (other than the current one), then proceed.
7. Final Remarks & Submission:
   • 🚨 IMPORTANT: Under "Remarks (Message to Beneficiary Bank)", explicitly enter your account ID and name (e.g., U12345678 / FIRST_NAME LAST_NAME). This ensures the receiving bank credits it to your specific ledger.
   • Review the generated PDF A2 form (which auto-formats exactly like the physical branch form) and click 'Send Now'. You’ll get a request number like AUXXXXXXXXXXX0001.

Pro-tip for Direct IBKR users: Once submitted, log into your IBKR portal and create a "Deposit Notification" matching this exact USD amount and reference number. This helps IBKR immediately match and auto-credit the funds the moment the wire hits their account.

Related: AU Bank enables digital remittances with purpose code S0001, the full post with timeline.