Why does Spare Space need my bank information?

All host payouts on Spare Space are issued through direct deposit once your bookings are completed. To ensure smooth and secure transfers, we require you to provide and verify your banking information and identity details when linking your payout account.

What information is required?

Under the Link Payout tab, you’ll be asked to provide:

Full Name (as per bank records)

Bank Account Number

IFSC Code

Bank Name

Date of Birth

PAN (for verification and compliance)

GST Number (optional — only if you’re a GST-registered host)

These details are used to create a verified Razorpay account on your behalf, which enables automatic payouts directly to your bank account.

Is my information secure?

Absolutely. All payouts are processed through Razorpay, a PCI DSS–compliant payment aggregator, ensuring your data remains encrypted and protected at every step. Your banking and verification details are sent directly to Razorpay and never stored by Spare Space.