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. 

FIRC full form is Foreign Inward Remittance Certificate, and it serves as an official proof that money has been remitted into India from a foreign sourceskydo.com. In simpler terms, a FIRC is a document issued by an Indian bank to verify and record details of an incoming foreign payment – including the sender, recipient, amount, and purpose of the transactiondbs.com. 

This certificate is crucial in the Indian context as it ensures your foreign earnings are transparent, properly documented, and compliant with regulations. In this guide, we’ll explain what FIRC means, why it’s important, how it works under RBI rules, and how Indian businesses or freelancers can obtain and use FIRC effectively.

FIRC stands for Foreign Inward Remittance Certificate, and as the name suggests, it is a certificate provided by banks in India to verify a foreign currency remittance received in the country. The FIRC contains important information such as the amount received, the foreign sender’s and Indian recipient’s details, and the reason for the payment. Essentially, it’s a tangible proof of an inward remittance – functioning as a testimonial that an individual or business in India has received a payment from abroad.&nbsp;

FIRCs have historically been issued by Authorized Dealer (AD) banks whenever an export payment or any foreign inward payment came in. For example, if an exporter in Mumbai sells goods to a buyer in Europe and receives the payment in USD into her Indian bank account, the bank would issue a FIRC confirming that the foreign payment was received. This document legitimizes the transaction and is often required by various authorities for reference. Only banks licensed as Authorised Dealer Category I by the Reserve Bank of India (RBI) can issue FIRCs, since they are the ones permitted to handle foreign exchange transactions in India.&nbsp;

It’s important to note that “FIRC” is sometimes used informally to refer to similar documents like Foreign Inward Remittance Advice (FIRA) or Foreign Inward Remittance Statement (FIRS). We will discuss these terms later, but broadly speaking, all of them serve a similar purpose: proving that a foreign remittance was received. In summary, a FIRC (Foreign Inward Remittance Certificate) is the official proof of foreign money coming into India, making it an indispensable document for cross-border payments.

Whether you are an Indian exporter, a service provider, or a freelancer, obtaining a FIRC (or its equivalent advice) for your foreign earnings is very important. Here are the key reasons why FIRCs matter:

In summary, the FIRC is more than just a piece of paper – it is essential for compliance, for availing financial benefits, and for maintaining clean financial records of foreign income.&nbsp;Especially in India’s tightly regulated foreign exchange environment, this certificate (or its modern digital equivalent) becomes a cornerstone for anyone dealing with international payments.

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:

In conversations around FIRC, there are a few more terms that get frequently mentioned, one of them being eFIRC. So what exactly is <a href="https://www.skydo.com/blog/efirc-firc-brc-essentials-differences">eFIRC?</a>

Two acronyms often discussed together are FIRC and BRC. They are related but not the same thing. We’ve explained FIRC (proof of receiving foreign payment). BRC stands for Bank Realisation Certificate. Here’s how they differ and how they work together, especially for exporters:

In summary, BRC is the second step in the documentation chain for exports: first get your FIRC/FIRA (proof of payment), then that leads to a BRC (proof that payment matches an export transaction). Both are important for exporters, but they serve different (complementary) purposes.&nbsp; This decison tree will help you decide if and when will you need FIRC/BRC

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: 

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

Obtaining a FIRC or the equivalent remittance certificate is not an automatic process in many banks – often, you need to request it. Here’s a step-by-step on how Indian businesses or freelancers can get their FIRC/FIRA from the bank:

<a href="https://www.skydo.com/blog/how-to-get-firc-certificate-online">Getting a FIRC</a> might sound like a hassle, but with Skydo, it's a breeze. Our fully automated payment system along with built-in partnerships with banks, ensures effortless compliance with RBI guidelines, without needing any manual intervention.

When you receive an export payment through Skydo, we automatically generate the required FIRC for you at no extra cost. Just log into our user-friendly dashboard, and you'll find your FIRC ready to download, complete with all the details you need. 

Exporting goods and services is considered Zero-Rated Supply, meaning it is subject to 0% GST. However, to claim a GST refund for the input tax credit, exporters must provide the required documents including FIRC. These documents authenticate that the business is claiming a refund because it exported services and couldn't offset its input tax credit as it would in normal domestic business. Without FIRC, claiming a GST refund may not be possible

As we surge in cross-border transactions, ensuring compliance and safeguarding against illicit activities has become a pressing concern. However, at Skydo, we believe your focus should be on advancing your business, not on grappling with compliance challenges.

With Skydo, enjoy seamless international payments, delivered promptly and without any hidden fees. But that's just the beginning! Every time you receive a cross-border payment, an auto-generated FIRC is readily available for you to download, relieving you of compliance burdens so you can devote your energy to what truly matters: driving your business forward.

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

Working with international clients but getting lost in the maze of banking codes?&nbsp;

If you've ever been asked for your ABA number while setting up payment details, you're not alone. ABA stands for American Bankers Association, and these numbers are essential for receiving bill payments into your U.S. bank account or other financial institution. Think of it as your bank's unique address in the American banking system.

In this guide, we'll break down everything you need to know about ABA numbers – from what they are and where to find them to how they work in getting your hard-earned money safely into your account. 

An ABA or routing number is your bank's identification code in the United States. Every U.S. bank has at least one of these nine-digit numbers, which you've probably spotted at the bottom of your checks.

It is like a postal digit code for your bank – it helps other banks know exactly where to send money when someone's making a payment to your account number. You'll often see it referred to as a routing number, though some people still call it a check routing number since it's printed on paper checks.

Your bank might have several different ABA numbers, which can initially seem confusing. Here's why: Large banks often have multiple ABA numbers because they operate across different regions and handle various electronic transactions. Think of it like having different phone extensions for different departments in a company.

This is why it's important to always check with your bank about which ABA number to use for your specific transaction. Using the wrong one could delay your payment or cause rejection, especially for wire transfers.

This clarity around which number to use becomes especially important when setting up payment details with clients or employers, so it's worth double-checking with your bank about which number to use for different types of transactions.

Let's break down what those nine digits in your ABA number mean. While it might look like a random string of numbers, each digit serves a specific purpose in ensuring your money gets to the right place.

To make things easier, we will explain with an example.&nbsp;

When you look at ABA number 026009593, it's like a detailed address for your bank:

Let's look at another ABA number: 121000358

This organized structure helps route your money accurately through the U.S. banking system, ensuring it reaches the correct bank in the San Francisco region. Understanding these patterns can help verify whether you use the correct ABA number for your transactions.

Understanding this structure can be helpful when verifying your banking details with clients – you can quickly check if the number they're using matches your bank's region and follows this pattern.

Is the ABA code the same as the SWIFT Code?&nbsp;

If you're handling domestic and international transactions, you'll come across two types of bank codes: ABA numbers and SWIFT codes. While they might seem similar initially, they serve different purposes in getting your money where it needs to go.

ABA number is like your bank's domestic address – it's only used for transactions within the United States. It's a straightforward 9-digit number that tells other U.S. banks exactly where to send your money. You'll use this when setting up direct deposits or receiving electronic payments from U.S. clients.

<a href="https://www.skydo.com/swift-code-finder">SWIFT codes</a>, on the other hand, are your bank's international address. When clients from overseas want to send you money, they'll need your bank's <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">SWIFT code</a>. These codes look slightly different – they use letters and numbers (like CHASUS33) and help banks worldwide identify each other for international transfers.

It's worth understanding both codes, especially when receiving international payments. As an Indian business or freelancer receiving payments from U.S. clients, you must share your bank's SWIFT code, not the ABA number. You're receiving an international wire transfer, and SWIFT codes are used for cross-border payments.

Remember: ABA numbers are only used for electronic transfers within the U.S. banking system. When receiving payments from U.S. clients using your Indian bank account number, always provide your bank's SWIFT code to ensure your payment arrives safely and efficiently .

📚Note: Using the wrong code might delay your payment or cause rejection, so always clarify with your client whether they're sending money domestically (ABA) or internationally (SWIFT).&nbsp;

What is the ABA Routing Number Policy of India?&nbsp;

As an Indian freelancer or business owner, you'll mainly work with two banking codes: IFSC codes for transfers within India, and SWIFT codes for receiving payments from U.S. clients. You won't need to worry about ABA numbers since they're only used for transfers within the U.S. banking system.

Like the U.S. banking system uses ABA numbers to route payments, Indian banks use IFSC codes. Think of it as India's equivalent of the ABA system – different code, same purpose.&nbsp;

When receiving money from India, you must work with IFSC codes instead of ABA numbers.

This is a good reminder that different countries have their unique banking codes and systems:

So, if you're doing business internationally, you'll want to familiarize yourself with the banking codes used in your clients' countries to ensure smooth payment processing.&nbsp;

Receive Payments From the US Easily with Skydo&nbsp;

For Indian businesses <a href="https://www.skydo.com/blog/how-to-receive-money-from-usa-to-india">receiving U.S. payments,</a> SWIFT codes are more relevant than ABA numbers. While traditional banks have complex processes for international transfers, modern payment platforms are simplifying these transactions.&nbsp;

Skydo, for instance, offers a streamlined approach for freelancers and small businesses, with features like zero FX margin and instant FIRA, making international payments more cost-effective and efficient.

<a href="https://www.skydo.com/">Explore Skydo</a>

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What is ABA Number and How to find it

The vision of the government of India, Atmanirbhar Bharat – a self-reliant India, includes building a robust ecosystem to support Indian exporters.&nbsp;

The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme is a promising initiative in this direction. It was launched on 01st January 2021 to empower exporters and replace the Merchandise Exports from India Scheme (MEIS) to comply more with the World Trade Organization (WTO) norms.&nbsp;

There are multiple aspects to know about RoDTEP which we have covered in detail in this blog. 

The RoDTEP scheme refunds the amount spent on taxes and duties by exporters. These taxes and duties are levied by the local, state, and central governments and were otherwise not refundable by any other scheme. The refund amount is calculated as a specific percentage of the Free On Board (FOB) value of the product or a fixed amount based on the per unit of measurement.&nbsp;

Consider this very simple example. Consider you run a company that exports T-shirts from India. So while making those T-shirts, you may have to pay the following taxes:

Now, these taxes aren't refunded under GST.&nbsp; With the RoDTEP Scheme, the government gives a refund (say ₹18 in this case) to cover these hidden taxes. This makes exports competitive in international markets by reducing costs.

So, the exporter gets a credit or refund which they can use to reduce future taxes or transfer to someone else.

What are the Features of the RoDTEP Scheme?

The RoDTEP scheme offers two-fold benefits to the exporters: it solves critical bottlenecks in the export trade and enhances India’s competitiveness in the global arena. Here are the main features of the scheme that make it possible:

Refund of Previously Non-Refundable Taxes and Duties

Under <a href="https://www.dgft.gov.in/CP/?opt=meis">MEIS</a>, costs like VAT on fuel, mandi taxes, and electricity duties were non-refundable. RoDTEP rebates all of the above and other embedded costs to zero-rate exports. This decreases the tax burden on exporters and encourages them to sell products internationally.&nbsp;

The process to apply and receive a rebate under the RoDTEP scheme is automated and digitized from start to end.&nbsp; The exporter must log in to their <a href="https://www.icegate.gov.in/">ICEGATE</a> account which is a hub for all electronic transactions between the exporters and the customs department.&nbsp; After logging, they fill out the application form and attach documents like the shipping bill and <a href="https://www.skydo.com/blog/what-is-e-brc">Electronic Bank Realisation Certificate (eBRC)</a>. The refund is credited in the form of electronic scrips which exporters can track through an electronic ledger maintained by the Central Board of Indirect Taxes and Customs (CBIC)

RoDTEP covers a broad range of sectors like gems and jewellery, automobiles, plastic, marine, agriculture, and electronics. In total, it covers <a href="https://content.dgft.gov.in/Website/Appendix%204RE%20RoDTEP.pdf">8,555 tariff lines</a> –&nbsp; a product as defined in the list of tariff rates.

Inclusion of Various Export Entities

To support Small and Medium Companies (SMEs) and boost labour-intensive sectors like textiles, the RoDTEP scheme includes various export entities. These include Domestic Tariff Areas (DTA), Export Oriented Units (EOU), and Special Economic Zones (SEZs).

Who Can Claim Benefits Under the RoDTEP Scheme?

The RoDTEP scheme is available to exporters from various sectors and industries. Here’s a list to help you understand who can claim benefits under this scheme:

Which taxes will be Incorporated Into the RoDTEP scheme?

Here is a list of taxes compensated under the RoDTEP scheme:

How can you claim benefits under the RoDTEP Scheme?

Here is a step-by-step process you must follow to claim benefits under the RoDTEP scheme:&nbsp;

When you are filing the shipping bills, it’s mandatory to make a declaration to claim benefits under the RoDTEP scheme. You can do that by adding a specific code like RoDTEPY to the shipping bill

Register to the ICEGATE portal using a Digital Signature Certificate (DSC). This account will be useful for managing all claims and transactions under the RoDTEP scheme

Before you submit the details, take a moment to verify if the goods are eligible under the RoDTEP scheme. Also, check if the information is accurately captured in the application form

The customs officials will verify the details in the form and approve the claim for eligible goods if everything is right

On successful verification, the customs officials will generate a scroll containing the calculated benefit amount which will be made available to your ICEGATE account. Using these scrolls you can create electronic scrips&nbsp;

You can use the electronic scrips to pay for basic custom duties or transfer to other importers

What Documents Do You Need to Claim Benefits Under the RoDTEP Scheme?

Here are the documents you need to keep in handy to claim rebates for the duties and taxes paid by you during the export:

This is one of the most important documents to claim benefits under the RoDTEP scheme. Submit copies of all the shipping bills related to the export including the claim declaration

An&nbsp;<a href="https://www.skydo.com/blog/what-is-export-invoice">export invoice</a> is a document that contains the product details like name, description, rate, and the Free On Board (FOB) value

Packing list mentions product details like description and quantity. This document is needed because the customs officials use it to verify what has been exported

A <a href="https://www.skydo.com/blog/bank-realisation-certificate-all-you-need-to-know">Bank Realisation Certificate (BRC)</a> is proof that you have received the payment from the buyer in exchange for the goods exported

The bill of lading is useful when you transport the goods via sea freight. The airway bill is for air freight. Both the bills are useful to prove the goods were dispatched

Export Promotion Copy of Shipping Bill

If the nature of goods makes them eligible to make claims under different schemes including RoDTEP, then this document must be retained

Electronic Data Interchange (EDI) Registration&nbsp;

It’s important to show the ICEGATE registration to facilitate the electronic communication between you and customs authorities

This form requires the exporter to declare that they adhere to the RoDTEP guidelines and eligibility criteria

This is not mandatory, but if it’s applicable, then the exporter must produce GST returns to prove compliance with tax rules related to their exports

Letter of Undertaking (if applicable)

This is also conditional and only applies to exporters who are eligible under GST but don’t have to pay IGST

Receive Seamless Export Payments with Skydo

The RoDTEP scheme proves the commitment of the Indian government to simplify international trade for exporters. Skydo is a platform that simplifies international payments for exporters.

Skydo offers a smart, fast, and affordable solution for exporters with low fees and no hidden charges. With Skydo’s instant <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">Foreign Inward Remittance Advice (FIRA</a>), you don’t have to worry about documentation and focus solely on growing your business.&nbsp;

Join the community of exporters who trust Skydo for international payments. Sign up now. 

How Exporters Can Avail the RoDTEP Scheme in 2024 th

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Imagine landing your first international client for your handmade jewelry, only to have your shipment held up at customs because your IEC (Importer Exporter Code) status shows "pending verification." This scenario plays out frequently for Indian businesses and freelancers who overlook IEC verification (an initiative by the government of India), leading to costly delays, storage charges, and potentially lost clients. The good news? A simple online verification process can help you avoid these headaches and ensure smooth international shipping.&nbsp;

This guide will explain how to check your IEC status online, understand different verification statuses, and prepare your business for hassle-free international trade.

An IEC is your passport for international trade. The Directorate General of Foreign Trade (DGFT) gives this unique 10-digit number to businesses and freelancers who want to trade internationally.

You need to verify your IEC details because:

There are two simple ways to verify your IEC

Step 1: Open your web browser and go to the <a href="https://www.dgft.gov.in/CP/">DGFT</a> website

Step 2: Look for the Login button at the top of the page. Type in your username and password

Step 3: Find and click on Services in the menu. Now look for IEC Management and click on it

Step 4: Here, you need to put in your PAN details and click Submit to see your IEC status or download your IEC certificate

Step 1: Visit the <a href="https://www.icegate.gov.in/">ICEGATE website</a>

Step 2: Find and click User Login under Services.&nbsp;

Step 3: After logging in, look for Check IE Code/BIN Status. Type in your IEC number, complete the captcha, and click IE Code @ ICEGATE to see your status

What are the Different Statuses of IEC Code Verification?

When you check your IEC application status, you'll see one of these status messages:

It means your application is being processed. You need to wait for four days to get the next update. During this time, DGFT officers review your documents and verify your international business details. You can use this waiting period to set up other aspects of your export business, like preparing product catalogs or finalizing your pricing strategy.

It means something wasn't quite right about your application process, and it got rejected (for example, maybe your address proof wasn't clear enough in the application). The next step could be to fix the issues and apply again (no extra fees needed). The good news is that the system will highlight which documents or details need correction, making fixing it easier. Most rejections are resolved within one resubmission, so don't get discouraged if this happens to you.

It means the DGFT has approved your <a href="https://www.skydo.com/blog/iec-code-apply-online">IEC application</a> and sent it to customs. The next step is to wait three days for customs clearance. During this time, your information is being integrated into the customs database, allowing you to ship goods internationally. You can track this status daily on the ICEGATE portal to know exactly when your code becomes active.

Registered by DGFT and Accepted by ICEGATE

It means you're all set to start your import and export operations. This status confirms that DGFT and customs systems recognize your IEC as valid and active. You can now register with shipping companies, apply for export benefits, and start accepting international orders and gigs with confidence that your documentation is complete and valid.

What are the Benefits of IEC Code Verification?

Picture losing a ₹5 lakh international project because your IEC verification wasn't current—it happens more often than you'd think. Understanding the benefits of IEC verification isn't just about following rules; it's about protecting your business and unlocking opportunities that could take your export activities to the next level.

When your IEC is verified, you'll breeze through customs checks without delays. A verified status means your documentation moves much faster, saving you time and money.

A verified IEC builds confidence in your business relationships. International clients can easily confirm that you're a legitimate freelancer. For businesses, shipping companies are more likely to process your orders quickly (keep the shipping bills handy), and banks view you as a credible business partner for financial services.

Regular verification acts as a security measure for your business. You can quickly spot if someone tries to misuse your IEC number for unauthorized trades. This verification status also serves as solid proof of your legitimate trading activities if questions ever arise.

With a verified IEC, you can easily access government export schemes for businesses like yours. Banks are more willing to offer export financing options, and you can confidently register for international trade shows. Plus, claiming benefits like duty drawback becomes much smoother.&nbsp;

What are the Common IEC verification issues and their fixes?&nbsp;

Below are some of the common IEC verification issues and their fixes you must know of:&nbsp;

If the status isn't updating: The system typically needs 24 hours to reflect changes, so patience is key. Early morning hours often work best for checking status updates. If you're still having trouble, try clearing your browser data for a fresh start.

Having login troubles: Most login issues have simple solutions. Check if you typed your username correctly. If you can't get in, use the password reset option. A common oversight is having caps locked on, so watch out for that. Always use the email address you registered with.

Website issues: The best time to check is early morning, between 6 AM and 8 AM, when there's less traffic. If you're using your phone, try switching to a computer instead. Sometimes, the problem is as simple as an unstable internet connection.

What Happens if I Don’t Verify my IEC Code?&nbsp;

Here are the potential consequences of not verifying your IEC Code number:&nbsp;

Receive Export Payments Seamlessly with Skydo&nbsp;

Having a verified IEC is your ticket to smooth international trade. However, it's equally important to manage your global payments efficiently. While traditional payment methods can reduce earnings through high fees and exchange rates, modern solutions like Skydo offer better rates for local receiving accounts.&nbsp;

<a href="https://www.skydo.com/">Get started with Skydo!&nbsp;</a>

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If you’re billing overseas clients, from a SaaS subscription to a consulting invoice, you want three things: a. the payment to land on time, b. The INR you receive to be predictable, c. and the paperwork to be airtight.

This guide explains how Cashfree handles international payments, what it costs, what documents you get, and when a specialised exporter platform (like Skydo) might fit better.

Cashfree is a Bengaluru-based payments company. Domestically, it’s an RBI-licensed Payment Aggregator. For cross-border, it offers two ways to collect and settle in INR:

Let's take a moment to understand both these methods.&nbsp;

1) Global Collections Account (virtual accounts + local rails)

Best for: Invoices from overseas clients (freelancers, agencies, IT/consulting, SaaS).

In short: Feels like a “local bank account” for your client; you receive INR in India with per-payment FIRA.

2) International Payment Gateway (cards/APMs)

Best for: Online checkout flows (eCommerce, digital goods, subscriptions, SaaS).

In short: Optimised for conversion at checkout with multi-currency presentation; compliance comes as period summaries.

Cashfree International Payments Charges — what to expect

Use the International Gateway when:

Quick comparison: Global Collection Account vs Payment Gateway

A focused alternative for exporters: Skydo

While Cashfree gives Indian businesses multiple ways to collect payments, it’s still built to serve both domestic and international flows.
If you’re an exporter or freelancer who deals primarily in foreign payments, Skydo might be a better fit because it’s designed only for that.

With Skydo, you get global bank accounts in your business’s name across major currencies like USD, EUR, GBP, CAD, and AUD.
Your clients can pay you through their local payment methods, ACH in the US, SEPA in Europe, Faster Payments in the UK, and the funds reach your Indian account at live forex rates with zero markup.

If your client’s in the US, you can even share an InstaLink; they can pay instantly via card (5%) or ACH debit (2%) at midmarket rates without any markup

Every payment comes with an instant FIRA and eBRC (for Amazon sellers).

In short, Skydo takes care of the entire export payment journey,&nbsp; from collection to compliance, without the guesswork or hidden forex costs. So try Skydo today and let us take on of your payment worries

Cashfree International Payments (2025): Global Account, Gateway, Charges & Alternative

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What is Remitly—and how does USD→INR work?

Your <a href="https://www.skydo.com/blog/how-to-receive-money-from-usa-to-india">US-based clients</a> can use Remitly Business to pay you if they are a US-based business. For USD→INR:

Practical tip: For any payout, compare Remitly’s quoted rate with the mid-market rate (the “Google rate”). The difference indicates your effective FX cost for that transfer.

How much does Remitly charge for USD to INR transfers?

Remitly’s fees appear straightforward at first, but the exchange rate significantly impacts the amount you actually receive.

The mid-market rate (the “Google rate”) is the real USD→INR rate without markup.
Remitly’s offered rate is usually slightly lower. For example, if the mid-market rate is ₹85.00 per USD, Remitly might offer ₹84.50—a ₹0.50 difference applied to every dollar sent. On a $5,000 transfer, that’s about ₹2,500 less received.

Remitly’s markup on USD→INR transfers generally falls between 0.4% and 1.4%, depending on the amount, market movement, and transfer speed.

Even if there’s no visible fee, the markup affects your payout.
Compare Remitly’s quoted rate with the mid-market rate before confirming a transfer; the gap between them is your true FX cost.

Real cost breakdown: what you actually receive

To understand how exchange rates affect your payout, here’s an example using approximate numbers for common transfer amounts.

*Based on a mid-market rate of ₹85.01 per USD, assuming an average forex markup of around 0.9%.
Actual markups can vary,&nbsp; and in some cases, may be higher,&nbsp; depending on transfer size, timing, and exchange-rate movement.

Once transfers exceed $1,000, the flat fee becomes less significant. The exchange rate markup continues to determine how much ultimately reaches your account.
On a $2,000 transfer, that difference translates to roughly ₹900 less received. Multiply that across recurring invoices or multiple clients, and the impact compounds quickly.

💡 Note: Exchange rates fluctuate throughout the day. Always check Remitly’s live USD→INR rate against the mid-market rate (the rate visible on Google or XE.com) to know your exact cost before confirming a transfer.

Remitly Business offers two ways to transfer funds, and your choice affects both how quickly you receive the money and the rate you get.

Typically takes up to 5 business days to reach your Indian bank account, but it usually comes with a more favourable exchange rate. This option works well for planned or recurring business payments where timing is flexible.

Deliver funds faster, often within a few hours or by the next business day. The trade-off is that Express transfers may use a slightly lower exchange rate compared to Economy.

In short, Economy favours value; Express favours speed. Choosing between them depends on whether you prioritise timing or maximising your payout.

Remitly Business deposits funds directly into your Indian bank account. They work with all major banks, including HDFC, ICICI, SBI, Axis Bank, and others.

Your client initiates the payment on their end through Remitly Business. Once processed, the money appears in your account - no need to visit a branch or collect cash.

Transfer limits and verification requirements

Remitly Business typically allows transfers of up to about $30,000 per transaction from the US to India. For most freelancers, agencies, and small businesses, this covers regular project or retainer-based payments comfortably.