Updated: 14th November 2025 Foreign Inward Remittance Certificate (FIRC) is a key term for anyone in India receiving payments from abroad,&nbsp; be it exporters shipping goods overseas or freelancers offering services to international clients.

Are you dealing with international payments and confused by terms like FIRC? If you’ve ever received money from abroad for your business or freelance work, you might have been told to get a FIRC. Don’t worry – you’re not alone in finding this acronym puzzling. In this conversational guide, we’ll demystify Foreign Inward Remittance Certificates (FIRC) – explaining what they are (including the full form and meaning), why they’re important, who needs them, and how to obtain one. By the end, you’ll know exactly why FIRC matters for Indian exporters, freelancers, small businesses, and even accountants handling cross-border transactions. Plus, we’ll share tips on making the whole process much easier (hint: there are modern solutions that do the heavy lifting for you). Let’s dive in!

Let’s start with the basics: FIRC stands for Foreign Inward Remittance Certificate. It’s essentially an official document from an Indian bank that confirms you’ve received a payment from abroad. Think of it as a receipt or proof of an inward remittance (foreign money transfer) into your Indian bank account.

In practical terms, a FIRC contains details of the foreign payment you received – such as the amount in foreign currency and INR, who sent the money (the sender’s name and country), who received it (your name/business name), the date, and the purpose of the payment. It’s issued by your bank (specifically, banks authorized to deal in foreign exchange, known as AD Category I banks) whenever you receive money from overseas.

In simpler words: if a client overseas wires you funds for an export or a freelance project, the FIRC is the document from your bank saying “Yes, we’ve got the money from abroad, and here are the details.” It’s an official proof that foreign funds landed in India into your account.

Quick note: Sometimes people use “FIRC” loosely to also refer to similar documents like a foreign inward remittance advice (FIRA).&nbsp; Essentially, all these serve the same purpose – proving that an international payment was received. We’ll explain the differences in a bit, but generally if someone asks for a FIRC, they mean the proof of a foreign payment credit.

Whether you are an Indian exporter, a freelancer providing services globally, or a small business owner, obtaining a FIRC (or its equivalent advice) for your foreign earnings is very important. Here are the key reasons why a FIRC matters so much:

In summary, a FIRC is more than just a piece of paper. It’s crucial for compliance, unlocking financial benefits, and keeping clean records of your foreign income. In India’s regulated foreign exchange environment, this certificate (or its digital equivalent) becomes a cornerstone for anyone transacting internationally.

Now that we know why it’s important, you might wonder: “Do I actually need a FIRC?” If you fall into any of the following categories, the answer is likely yes:

In a nutshell, any Indian individual or business receiving money from outside India should obtain a FIRC for each such inward payment. This spans everyone from large export firms to freelance graphic designers paid via PayPal. It’s a best practice even if not mandatory in every case, because it’s your safety net and proof if questions arise later.

FIRC in India: RBI Guidelines and the Switch to FIRA

It’s important to understand how FIRCs are handled in India today, because there have been regulatory changes in the past decade. Historically, banks issued a physical FIRC on security paper for every foreign inward remittance received against exports. However, since 2016, the RBI changed the process for most cases. Let’s break down what that means:

You might also have seen the term e-FIRC. This is a bit tricky because e-FIRC isn’t a separate document you receive in hand – it’s more of a concept/number in the background banking systems.

For most small businesses or freelancers who use a single bank (or a single platform) to both receive funds and handle paperwork, you may not need to worry much about the term “e-FIRC” – your bank’s advice and the automated systems take care of it. Just know that it refers to the electronic trail of your remittance in RBI’s systems.

Two acronyms that often come up together in export finance are FIRC and BRC. They are related but serve different purposes, and it’s important not to confuse them:

In simpler terms, think of it as a two-step chain: First, you get the FIRC/FIRA when money comes in. Then, that leads to a BRC which connects the money to a specific export transaction.

For example, suppose you shipped 100 units of a product on a certain date (your shipping bill records this) and later you got USD 1,000 for that shipment. When the $1,000 arrives, your bank gives you a FIRA confirming receipt. You then inform the bank (or it knows via systems) that this $1,000 corresponds to that shipping bill. The bank updates the records and an e-BRC is generated which you can download from the DGFT portal as proof that the export transaction is closed with payment received. Why is BRC needed? Because to claim many export incentives or to fulfill export obligations, you have to show BRCs to the government – it proves you not only exported but also got paid for it.

Bottom line: FIRC (or FIRA) confirms money received; BRC confirms that money was tied to an export. Both are important for exporters of goods (first you get FIRC, then BRC to claim benefits). Freelancers and pure service exporters mostly just handle FIRCs unless they are in scenarios that require reporting exports formally.

&nbsp;You can use this decision tree to decide which one do you need.&nbsp;

FIRC Certificate Format:&nbsp; What Information Does it Include?

This is a sample FIRC document. All crucial remittance details have been masked for security purposes. Now let’s break the content of a FIRC down: 

If you’ve never seen a FIRC or FIRA document, you might wonder what it looks like and what details it carries. While formats can vary slightly from bank to bank, a typical FIRC/FIRA document (usually a PDF or letter these days) will include the following key information:

A modern FIRA might not have the word “Certificate” on it, but it contains the same info as the old FIRC. Some banks still title it “Certificate of Foreign Inward Remittance” even if it’s a PDF. In any case, all the above details are what make it valuable – ensure everything matches your expectations when you receive one (more on that in a moment).

How to Obtain a FIRC (Procedure to Get the Certificate)

Obtaining a FIRC or FIRA for a foreign payment is not always automatic – often, you’ll need to request it from your bank. The process can vary slightly by bank, but here’s a general step-by-step guide for Indian businesses or freelancers:

1. Receive the Foreign Payment: This might sound obvious, but you can only get a FIRC after the money from abroad has credited to your bank account in India. So, first step – make sure the funds have arrived. Note down the transaction details like the date of credit, the amount in foreign currency and INR, and any reference number (UTR) if available. This info will be needed for the request.

2. Contact Your Bank to Request the FIRC/FIRA: Reach out to your bank’s branch or your relationship manager and let them know you need a FIRC (Foreign Inward Remittance Certificate) or advice for a particular transaction. Many banks have a specific form or format for this request. Depending on the bank, you might do one of the following:

In your request, you’ll generally need to provide:

Tip: If your bank has a mobile app or online banking, search for terms like “FIRC request” or “Remittance Certificate” – some banks have digitized this. Otherwise, a quick email to your branch manager with the details might do the trick.

3. Provide Supporting Documents (if required): Banks might ask for some documents to ensure the request is legit and to attach as proof of the transaction’s purpose. Common ones include:

Not every bank will ask for all of these – often if the transaction was straightforward and coded correctly, a FIRC request might go through with just the form. But don’t be surprised if they ask for an invoice copy or such, especially for higher amounts or the first time you’re requesting.

4. Pay the Bank’s Fee (if any): Here’s the part not everyone realizes: many banks charge a small processing fee for issuing a FIRC/FIRA. The fee varies by bank but is typically in the range of ₹200 to ₹500 per certificate, plus GST. For example, one bank might charge ₹300 + taxes for each FIRC. Some banks waive it for premium account holders or in special cases, but generally expect a fee. Usually, the bank will deduct this fee from your account or ask you to pay it upfront. When you fill the request form, it might mention the fee or your branch will inform you. (As a rough timeline, after you request, it often takes around 1–2 weeks for the bank to issue the FIRC. Some get it done in just a few days, but don’t bank on it – pun intended!)

Good News: If this process sounds a bit old-fashioned, you’re right – it can be tedious. But lately, some fintech platforms and modern banking services offer FIRA certificates for free and instantly as a perk. (We’ll talk more about that in a moment when discussing easier ways.)

5. Wait for the Certificate to be Issued: Once you’ve submitted the request (and any docs and fees), the bank’s forex operations team will verify the details. They’ll match the info you gave with the actual inward remittance record. If everything checks out, they will generate the FIRC (or FIRA). Nowadays, this is usually a PDF document on the bank’s letterhead with a digital signature, which they might email to you or make available for download (some still might print it for collection at the branch if you specifically need a hard copy). The time frame can vary:

Keep an eye on the email you provided (and check the spam folder just in case, since it’s often an automated email with a PDF attachment).

6. Verify the Details on the FIRC: When you finally receive the certificate/advice, do not skip this step! Carefully check all the details:

If you spot any error (typos in your name, wrong amount, incorrect purpose code, etc.), contact the bank immediately to correct it. It’s important the FIRC reflects the truth of the transaction. Banks can issue an amended FIRC if needed, but you may have to give proof of the correct info (for instance, if your name was spelled wrong, you might send a copy of your PAN or passport; if the amount in INR is off, maybe a statement copy). It’s best to catch errors early and have them fixed, so you don’t run into problems later when using the FIRC for official purposes.

7. Use the FIRC for Your Needs: Once you have the FIRC/FIRA in hand (or in email):

In short, use the FIRC anywhere you need to prove “I got paid from abroad for X purpose.” It’s your golden ticket for compliance and benefits.

8. Remember: One FIRC = One Transaction: If you receive multiple foreign payments, you will generally need to request separate FIRCs for each. Say you’re a freelancer who got five different payments from five clients – you’d have five FIRC documents (and possibly five fees…). Some payment aggregators or services might give a consolidated statement for multiple small payments, but banks usually treat each inward remittance as a separate record and issue individual certificates.

Getting FIRC the Easy Way (Automatic FIRC with Modern Platforms)

At this point, you might be thinking, “Wow, that’s a lot of steps and wait time just to get a certificate!” 🤯 Indeed, dealing directly with banks for FIRCs can be slow and involve charges. Here’s where fintech solutions come to the rescue.

Platforms like Skydo offer a much smoother experience for handling foreign payments. For instance, when you receive an export payment through Skydo, the FIRC (or FIRA) is generated for you automatically – and at no extra cost. It’s basically built into the process. You don’t have to file separate requests or wait weeks. As soon as the payment is received and processed, you can log into your Skydo dashboard and download the remittance advice instantly. All the details (amount, purpose, etc.) are neatly recorded, compliant with RBI rules, without you lifting a finger to request it.

This kind of solution is a game-changer for freelancers and small businesses: you get paid faster (since such platforms often streamline the transfer) and you get the FIRC document instantly for each transaction. No bank queues, no follow-ups, no fees per certificate. If you’re frequently dealing with international clients, using a modern global payments platform can save you a lot of headaches when it comes to compliance paperwork like FIRCs.

Is FIRC Mandatory for GST Refunds and Other Purposes?

One common question that arises is whether having a FIRC is mandatory for certain claims, especially the GST refunds on exports. The short answer: Yes, if you’re claiming a refund or benefit on the basis of an export, you’ll need proof of foreign inward remittance – usually in the form of FIRC/FIRA.

When you export goods or services from India, those exports are considered “zero-rated” for GST, meaning you don’t have to pay GST on the sale. However, you might have paid GST on inputs (input tax credit) and you’d want to get that refunded since your output was zero-rated. To process this refund, the tax authorities require evidence that you indeed received payment in convertible foreign exchange for that zero-rated supply. FIRC is that evidence. It authenticates that the money entered India’s banking system against your export.

Here’s how it typically works for a GST refund on exports:

If you don’t have a FIRC to show and try to claim a GST refund, the claim likely won’t be accepted because you haven’t furnished proof of realization of export proceeds. It’s a critical document for this purpose.

Similarly, for other schemes like certain subsidies or duty credits for exporters, the requirement is often to show the BRC or FIRC to prove that the export was completed monetarily.

For freelancers or service exporters who may not deal with GST refunds (if, say, you’re below GST threshold or exports of services under LUT), it might not feel “mandatory” day-to-day. But consider that under income tax or any scrutiny, you’d still want that FIRC as proof of earnings. Also, tomorrow if you do register for GST and want to claim something, having FIRCs from the past means you’re prepared.

In summary: For compliance and benefits, having FIRCs is effectively mandatory. It’s part of the paperwork you should maintain if you earn in foreign currency. And specifically for claiming GST refunds on exports, a FIRC is usually non-negotiable.

Conclusion:&nbsp; Making FIRC Hassle-Free

Dealing with cross-border payments can seem daunting at first – there’s compliance to consider and extra paperwork like FIRCs to manage. But understanding the ins and outs of FIRC means you’re now equipped to ensure every dollar, euro, or pound you earn overseas is properly documented without stress.

The good news is that you don’t have to wrestle with these processes alone. As the world of international business is evolving, so are the tools to manage it. Your focus should be on growing your business or honing your craft – not on chasing bank certificates. That’s exactly why platforms like Skydo exist: to simplify global payments and the red tape that comes with them.

With Skydo, for example, you can enjoy seamless international payments with no hidden fees, and every time you receive a cross-border payment, an auto-generated FIRC (remittance advice) is instantly available for you. No special requests, no fees per certificate, no delays – it’s just there, ready to download when you need it. This means you remain fully compliant with RBI rules effortlessly, and you can devote your energy to what truly matters: delivering great products or services and scaling your venture.

In conclusion, a Foreign Inward Remittance Certificate is a vital piece in the jigsaw puzzle of doing business globally from India. It ensures your hard-earned foreign revenues are officially recognized and securely in your pocket (or rather, your bank account). By staying informed and leveraging modern solutions, you can turn what used to be a cumbersome process into a minor footnote in your workflow. Happy exporting (or freelancing), and may all your international payments come with an easy FIRC! 🚀

What is FIRC? Learn the full form, meaning, and how Indian exporters & freelancers can get FIRC or FIRA to claim tax benefits and stay RBI-compliant.

FIRC Full Form, Meaning & Guide for Exporters

Dive into the world of FIRC. Explore the full form, importance, and process of obtaining FIRC for your international transactions

Foreign Inward Remittance Certificate (FIRC): Full form, meaning and RBI guidelines

Prashanth

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Prashanth Kumar

If you sell globally from India, the first real question isn’t “Which provider is best?”

It’s: How do your customers prefer to pay you?

Some customers want the speed and familiarity of card payments (especially for smaller tickets, online purchases, or urgent payments). Others, especially in B2B, prefer bank transfers against invoices (ACH/SEPA/wire).

A payment gateway for international payments is excellent when you’re collecting card payments. But it isn’t the only way to receive international money, and for many Indian exporters and service businesses, a good setup looks like this:

This guide breaks down what an international payment gateway really is, how it differs from other collection methods, and gives you a practical way to pick the best approach.

An international payment gateway is a tool that securely processes online card payments from customers in different countries.

Best for: checkout-led card payments (e-commerce, subscriptions, online services, payment links).

Also important: Many businesses use both card + bank transfer, based on customer preference.

What is a “payment gateway for international payments”?

A payment gateway for international payments is the secure bridge between your checkout (or payment page) and the systems that approve a card transaction.

The “international” part adds extra layers like:

None of this is “bad”; it’s simply the reality of card networks across borders, and it’s why choosing the right tool matters.

Payment gateway vs payment processor (not the same thing)

People use these interchangeably, but technically, they’re different.

Many modern providers bundle both, which is why the terms blur. But when you compare options, it helps to separate them, because fees and responsibilities can sit in different parts of the stack.

The #1 misconception: calling every international payment tool a “gateway”

A lot of exporters and freelancers call any platform that helps them receive international money a “payment gateway.”

In reality, international payment collection usually falls into three buckets:

1) Card payment gateways (checkout/card rails)

Card rails optimize for convenience and global acceptance, and you get a structured system for refunds/disputes when needed.

2) Bank transfer collection (invoice-led B2B)

This is how many B2B clients prefer to pay:

This method avoids card networks entirely and is often a smoother match for invoicing and larger ticket sizes.

3) Marketplace payouts / remittance platforms

Used when money comes from platforms like:

These are payout workflows, not customer-facing checkouts.

Practical tip: If most of your revenue is invoice-led and clients already prefer bank transfers, you don’t need to “convert” them to cards. But it can still be smart to keep card as an option for clients who specifically want it.

How to choose the best international payment gateway in India (the decision framework)

The best provider depends less on brand names and more on your payment reality.&nbsp;

Step 2: Compare on the things that actually change your payout

1) Total cost (not just the headline fee)

3) Authentication + payment success rate

Cross-border payments are more likely to face additional authentication.
A gateway that handles global authentication well can improve successful collections.

Cards naturally come with a formal dispute and refund structure. That can be useful in consumer-style transactions, and more effortful in high-ticket B2B unless you’re set up for it.

A faster settlement cycle improves working capital—especially if you run ads, payroll, or vendor payments.

Do you need a full checkout integration, plugins, payment links, or APIs?
And when something breaks, can you reach a human?

International payment gateway list (India): options by use-case

Instead of ranking them blindly, here’s a cleaner way to shortlist.

A) India-first gateways (strong fit for India-based businesses selling globally via cards)

These are typically great if you want international card acceptance with an India-first setup.

B) Global gateways (popular for SaaS/subscriptions + global-first payment stacks)

Where Skydo fits (and why it’s not “gateway vs Skydo”: it’s “rails + flexibility”)

If your business is invoice-led (exports/services), you typically want bank transfer rails as the default. But it’s also smart to support card payments for clients who prefer them.

Skydo isn’t a traditional “international payment gateway.” It’s a collections platform built for receiving international payments in India, with both bank transfer rails and card support where needed.

For Indian exporters &amp; service businesses: when a gateway may not be necessary (but card can still be useful)

Gateways are excellent when you’re collecting card payments regularly. But if your core business is invoice-led, many teams prefer to avoid making cards the default, simply because the economics and workflow can differ.

Here are the real considerations (worded without “deriding” cards):

The balanced strategy most businesses land on:
Use bank transfer rails as the default for invoices, and keep cards available for clients who prefer them.

Step 1: Do customers pay via online checkout using cards/wallets?

Yes → Start with an international payment gateway.

Step 2: Do clients pay invoices via bank transfer (ACH/SEPA/wire)?

Yes → Start with bank-transfer collection tools (virtual accounts/platforms like Skydo).
Keep card available as a backup option.

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Payment Gateway

You've just finished a project for a client in the US. Invoice sent, work delivered. Now you're waiting for the payment to hit your account. But instead of a quick transfer, you're dealing with currency conversion, multiple bank fees, and a five-day wait. Welcome to cross-border payments. And you're not alone; cross-border transactions form a massive global market, valued at over $194 trillion in 2024 and projected to exceed <a href="ttps://www.financialprofessionals.org/glossary/cross-border-payments#:~:text=Cross,through%202027%20to%20reach%20a)">$290 trillion by 2030.</a> However, each payment comes with complexities that extend&nbsp;far beyond a simple bank transfer.

What are cross-border payments? At its simplest, a cross-border payment happens when money moves between countries. For businesses, these aren't simple one-click transactions. B2B cross-border payments involve matching invoices, contracts with specific payment terms, compliance documentation for tax authorities, and careful reconciliation for your accounting team. When you receive payment from an international client, you're not just getting paid; you're managing a paper trail for GST filings, maintaining records for audits, and ensuring everything matches up for your CA (Chartered Accountant).

Cross-border transactions can vary across industries and scenarios. For example, a SaaS company might invoice its Australian client monthly. A digital marketing agency could collect a quarterly retainer from Singapore. An exporter receives payment for goods shipped to Germany. Each transaction crosses borders, requires currency conversion, and generates documentation at every step.

How a Cross-Border B2B Payment Moves Through Banks

When you initiate an international payment to a vendor or client, your money doesn't travel directly from your account to theirs. Instead, it moves through several steps, each adding time and cost to the transaction:

Each of these steps can introduce delays or costs. Now, let's explore the different ways businesses can send or receive cross-border payments and the expenses involved at each stage.

Common Methods for B2B Cross-Border Payments

Businesses have several options for sending and receiving international payments, each with trade-offs in speed, cost, and convenience. The main methods include traditional bank wires and newer fintech solutions:

1. SWIFT Wire Transfers (Traditional Bank Transfers)

This is the classic method for B2B cross-border payments. A SWIFT wire transfer moves money through the global banking network, so you can send money to virtually any country with an established banking system. The universal reach makes it reliable for large transactions or payments to countries where other options aren’t available.

However, the downsides are significant. Fees can pile up depending on how many correspondent banks handle your payment, and you often won’t know the exact cost until the transfer is complete. Settlement can take 3–5 business days or longer. There’s also the risk of short payments, where the recipient receives less than the invoiced amount because <a href="https://www.skydo.com/blog/intermediary-bank-meaning-and-hidden-fees">intermediary banks</a> deducted fees along the way without warning.

2. Local Bank Transfers via Virtual Accounts

Some modern payment providers offer <a href="https://www.skydo.com/blog/virtual-account-numbers">virtual local receiving accounts</a> in various countries, even if your business is based elsewhere. Essentially, the provider gives you local bank account details (like an account number/routing for the US, or sort code/account for the UK) to share with your international clients. The client pays locally into that account, as if you were a domestic business in their country. For the client, it’s just a local transfer, no international wire fees or complex SWIFT forms.

For you, the provider then transfers the money to your home account (converting currency as needed). This method can avoid surprise intermediary fees because the initial transfer stays within the local banking system. The cost savings depend on the provider and currency corridor; not all providers support every country or currency combination. Still, using virtual local accounts often results in faster settlements (sometimes 1–2 days) and more predictable fees than a SWIFT wire.

In some cases, businesses accept credit card or online gateway payments for B2B invoices. This can work well when you need payment immediately or for smaller invoice amounts. The speed is unmatched – funds can arrive within minutes or hours, rather than days. However, for international transfers, while the fund transfer can be super quick, withdrawing it in your local currency might take more time.&nbsp;&nbsp;

&nbsp;Processing fees for card payments typically range from 2% to 5% of the transaction, plus some platforms and gateways levy an extra 1%–4% <a href="https://www.skydo.com/blog/forex-markup-fee-explained">forex markup</a> for cross-border card transactions. These fees add up quickly on larger invoices.&nbsp;

Cross-Border Payment Fees Explained (The Full Stack)

International payments come with multiple layers of fees that can eat into the amount you ultimately receive (or the amount your client has to pay). Understanding each cost in this fee stack will help you budget accurately and choose the most cost-effective payment method.

Whether you go through a traditional bank or an online platform, there are likely base fees for moving money internationally:

In summary, the bank-route fees can stack up from both ends (sender and receiver), whereas a platform fee might consolidate pricing but add its own cut. Always check both what the sender pays and what the receiver pays, because together they determine the true cost of transfer.

Currency conversion is often the biggest hidden expense in cross-border payments. Banks and many payment providers do not convert your money at the mid-market exchange rate (the real rate you see on Google or XE). Instead, they apply a markup or spread on the exchange rate as a form of commission.

Typically, banks might add a markup in the range of 2% to 4% above the mid-market rate for retail customers. Some fintech platforms might be lower (say 1%), but others can be even higher under certain circumstances. This markup is usually not disclosed explicitly; you won't see a line item saying "FX fee". It’s embedded in the rate you're quoted.

How to spot the FX cost: Suppose you need to receive £1,000 from a UK client. If the mid-market GBP/INR rate is 100, the true value of that payment is ₹100,000. If your bank credits you at a rate of 97 INR/GBP, you get ₹97,000. That implies a 3% markup (since 97 is 3% less than 100). In this example, ₹3,000 is effectively the fee taken as an exchange spread. The only way you realise this is by comparing the rate you got to the market rate at that time. Providers advertising "zero fees" often still make money by doing this – they waive transfer fees but give you an unfavourable exchange rate.

Over large transactions, the FX markup cost can dwarf the explicit fees. Always check the effective exchange rate. A quick method is to divide the final INR you got by the foreign currency amount to see what rate was used, then compare it to the market rate. The difference (in percentage) is what you paid for conversion.

Fee Instructions: OUR vs SHA vs BEN&nbsp;

When your international client sends you a SWIFT payment, their bank asks them to choose a fee instruction, OUR, SHA, or BEN. That single choice directly affects how much money actually lands in your Indian bank account.

Here’s what each option means for you as the receiver:

OUR – Best for You (Full Amount Received)

SHA – Shared Fees (You Often Get Short-Paid)

BEN – Worst for You (You Pay Everything)

Cross-Border Payment Cost Examples (Realistic Scenarios)

To put all these fees and FX costs into perspective, let's walk through a few realistic scenarios. These examples illustrate how much money might actually arrive versus what was sent, and why there's often a difference. (Exact fees will vary by banks and corridors, but we'll use representative figures.)

Example 1: $5,000 B2B invoice paid via SWIFT (SHA instruction) – Your U.S. client sends you $5,000 through a traditional wire, with fees set to SHA (shared). Suppose their bank charged a $30 wire fee, and two intermediary banks in the U.S. deducted $20 each. Your Indian bank also takes an inward fee of ₹1,000 (about $12). In addition, the currency conversion to INR had a 3% markup on the exchange rate. By the time the payment reaches your account, you might see roughly $4,900 worth in INR. In other words, you don't get the full $5,000 – a combination of wire fees and FX markup has reduced it. This is why invoices often arrive "short" when paid by international wire on SHA: each player along the chain quietly took a bit out.

Example 2: $5,000 paid via a local receiving account transfer – Now, imagine using a fintech platform that provides local account details. Your U.S. client pays $5,000 to a domestic U.S. account (no international wire needed on their end). The platform then converts and transfers the money to you in INR. Platforms like Skydo will charge a flat USD 29 in fees and offer live forex rate without any markup. There are no intermediary bank deductions because the transfer was routed intelligently through the platform's network. You receive very close to the full $5,000 value, minus that known fee. For example, you might get the equivalent of about $4,970 in INR. Settlement is faster (maybe 1-2 business days), and you know the costs upfront. In this scenario, both you and your client avoided the mystery fees and delays of the SWIFT network.

Example 3: $5,000 paid by card or online processor – Your client pays the $5,000 using a credit card or an online payment link. The processor (e.g., a payment gateway) charges 4% + a fixed fee, and also a 3% currency conversion fee. Let's say that totals roughly 7% (about $350) in fees. You end up with about $4,650 (in INR equivalent) delivered to your account. The upside is convenience; your client gets to pay in a couple of clicks with no additional setup, but on most platforms, you effectively pay a premium for that convenience. However, platforms like Skydo let you <a href="https://www.skydo.com/blog/accept-credit-card-payment-us-clients">receive card payments from your US client</a> at live forex rate without any markup.&nbsp;

Factors That Change How Much Money You Actually Receive

Not every international payment lands the same way in your account. These factors directly impact the final INR amount you receive and how long it takes to get there:

Some routes (USD → INR) are cheaper and more predictable than rare corridors. Popular corridors have better FX rates and fewer hidden deductions.

Every intermediary bank in the SWIFT chain deducts a fee before the money reaches you. More hops = smaller final payout.

This single setting often explains why payments arrive short.

If your payment is flagged for review (AML/sanctions/keywords), it can sit in manual screening for 1–3 days before being credited.

If your client pays after a banking cut-off or during a holiday (in any country in the chain), your payment is pushed to the next working day.

SWIFT = slower, costly, unpredictable.
Local rails / fintech networks = faster payouts, fewer deductions.

If the transfer route forces two conversions (e.g., USD → EUR → INR), the FX markup hits you twice and your final payout drops.

Flat fees hurt small payments more; FX markups hurt large payments more. For receivers, this affects how much INR finally lands.

Businesses that receive payments regularly often get better FX rates, lower fees, or platform discounts compared to one-off receivers.

Banks vs modern platforms make the biggest difference:

Receiving International Payments in India: The Essential Paperwork

When foreign money lands in your Indian bank account, the payment isn’t “complete” until you have the required documents for tax, compliance, and audit purposes. Here are the only three things you absolutely need to track:

1. FIRA / FIRC: Proof of Inward Remittance

A Foreign Inward Remittance Advice/Certificate confirms that foreign currency was received and converted legally into INR.
You’ll need it for:

Banks may issue FIRAs automatically or only on request. Always collect it immediately so you don’t struggle with backdated requests later.

2. eBRC: Bank Realisation Certificate (For Exporters)

If you export goods (and for some categories of software), you need an Electronic Bank Realisation Certificate. It is:

Best Way to Receive B2B Cross-Border Payments in India

After navigating through the ins and outs of cross-border payments, you might wonder: Is there a simpler way to get paid from international clients, without all the surprises and delays? For many Indian businesses, specialised cross-border payment platforms provide the answer.

Platforms like Skydo are designed specifically for Indian businesses receiving B2B international payments. Skydo’s cross-border payment platform, for example, provides predictable fees with no hidden intermediary deductions. You can see the live exchange rate and any markup transparently, side by side with the mid-market rate, before you commit to a transfer. This means you know exactly how much INR you'll get for a given foreign amount – no more guesswork or shortfall.

Speed is another benefit. Instead of waiting a week for a SWIFT wire to wend its way through global banks, modern platforms often credit your funds within a day or two. They achieve this by using local routes and smarter networks (as described earlier in the local receiving accounts method), effectively cutting out unnecessary middlemen.

Crucially, these platforms also simplify compliance and documentation. Exporters and service providers can get export-grade documentation without extra hassle,&nbsp; for instance, automatic generation of FIRA/FIRC as soon as the money arrives, and even eBRC integration for Amazon exports. By building these into their workflow, platforms save you from making multiple trips (or emails) to the bank for paperwork.

If your business regularly deals with international clients, using a modern cross-border payments solution can eliminate the unpredictability of fees and delays. You’ll know in advance what each transaction will cost, and you can ensure your overseas clients have an easy, local way to pay you (which can improve your chances of getting paid on time).

In summary, the best way to receive B2B cross-border payments, especially in India, is to leverage a platform that offers transparency, speed, and tailored support for local regulations. By doing so, you keep more of what you earn and get your money faster.

Explore Skydo and see how you can streamline your international payments, so you spend less time worrying about wire transfers and more time growing your business globally.

Cross Border payments and how to receive them with Skydo

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If you get paid by US clients, ACH is often the easiest way for them to pay you, because it’s a domestic US bank transfer, not an international wire.

For Indian freelancers, agencies, and exporters, the practical question isn’t “What is ACH?”
It’s: How do I accept ACH payments from the US without opening a US entity or dealing with SWIFT delays and unpredictable deductions?

This guide answers that—clearly, end-to-end.

ACH stands for Automated Clearing House, the US network that moves money electronically between bank accounts.

Think of it as the “default rail” for:

ACH is built for volume and cost-efficiency, not instant settlement. It processes payments in batches during the day (with same-day options depending on the bank’s setup).&nbsp;

ACH Credit vs ACH Debit (and why it matters)

The biggest confusion is who initiates the payment.

Your client initiates the transfer from their bank account to yours.
This is the most common setup for freelancers/exporters getting paid by US businesses.

You (or your payment provider) initiates collection from the client’s bank account, only after authorisation. Debits have higher dispute/return risk than credits, so authorisation + clean records matter.

You don’t need to memorise acronyms, but understanding the flow helps when a payment is “stuck.”

The ACH network operates nearly the full banking day and settles multiple times daily.