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

small_63aec75c493ff751315d72ac_63948a436dc07c0bec0374ea_uA3i3IUVLPHk_-xjAlW9Z7bxKaOLRCylGX1byeHyzyE.png

thumbnail_63aec75c493ff751315d72ac_63948a436dc07c0bec0374ea_uA3i3IUVLPHk_-xjAlW9Z7bxKaOLRCylGX1byeHyzyE.png

Prashanth Kumar

Handling cross-border payments for business services requires selecting the appropriate purpose code to stay compliant with RBI and FEMA regulations. The S1007 purpose code applies to payments for services like advertising, trade fairs, market research, and public opinion polling. This guide will walk you through the significance of the S1007 code, its role in inward remittances, and how it ensures smooth transactions under RBI guidelines.

The S1007 purpose code is used when Indian businesses or agencies receive payments from foreign clients for services related to advertising, participation in trade fairs, market research, or public opinion polling. This code ensures that the foreign exchange inflow is correctly categorized as business services under <a href="https://www.rbi.org.in/commonman/English/Scripts/Notification.aspx?Id=1410?no_follow=true">RBI guidelines.</a>

Using the S1007 code allows companies to track and report these payments accurately, ensuring compliance with<a href="https://enforcementdirectorate.gov.in/fema?no_follow=true"> FEMA</a> and avoiding regulatory complications. If you’re new to purpose codes, explore what purpose codes are to understand how they streamline cross-border transactions and maintain transparency in foreign exchange operations.

Importance of S1007 Purpose Code in Inward Remittance

The S1007 purpose code is essential for businesses offering services related to advertising, trade shows, market surveys, or polling. These services often involve foreign clients who make payments to Indian agencies or companies. Proper classification of these payments under the S1007 code ensures compliance with RBI guidelines and smooth processing of foreign exchange inflows.

Using the right purpose code reduces the risk of misreporting, which could result in delays, fines, or regulatory scrutiny. By selecting the S1007 code, businesses can also avoid unnecessary disruptions in their international transactions, enabling better financial planning and operational efficiency.

Understanding Purpose Codes: Beyond S1007

Purpose codes, such as S1007, help categorise different types of international transactions to maintain transparency and regulatory oversight. The RBI uses these codes to monitor foreign exchange inflows and ensure compliance with FEMA. While S1007 applies to advertising and market research services, other codes are available for <a href="https://www.skydo.com/blog/guide-for-tech-exporters-on-global-compliance">software exports</a>, consultancy services, and personal remittances.

If you need to explore other codes relevant to your business, check out this list of purpose codes and guide on finding your purpose code to ensure that your transactions are correctly classified. Incorrect coding can lead to penalties, so it’s important to use the correct code for each type of service.

How to Select the Right Purpose Code for Your Transaction

Choosing the correct purpose code is crucial for <a href="https://www.skydo.com/blog/time-taken-for-inward-remittances">inward remittances</a> to comply with RBI and FEMA guidelines. Use the S1007 purpose code when receiving payments for advertising services, market research, trade fair participation, or opinion polling.

Before submitting your transaction, confirm that the nature of the service matches the S1007 code. Providing proper documentation—such as contracts, invoices, or participation agreements—will further ensure smooth processing of payments. If you’re unsure about which code applies, consult your bank or a financial advisor to avoid any errors or delays.

Conclusion: Ensuring Compliance with the S1007 Purpose Code

The S1007 purpose code is essential for businesses that receive payments for advertising, trade fairs, market research, and public opinion polling services. Using the right code ensures compliance with RBI and FEMA regulations, allowing smooth foreign exchange inflows and seamless transactions. Always verify your transaction details and select the correct code to avoid delays or penalties. Proper documentation will further guarantee a smooth remittance process.

large_P0103 (9).png

medium_P0103 (9).png

small_P0103 (9).png

thumbnail_P0103 (9).png

S1007 purpose code

IEC code registration is essential for Indian businesses engaging in international trade, including imports and exports. Issued by the&nbsp;<a href="https://content.dgft.gov.in/Website/DGFT%20-%20IEC%20Module%20User%20Help%20File.pdf">Directorate General of Foreign Trade (DGFT)</a>, this 10-digit code is mandatory for initiating import and export activities in India. Obtaining the IEC registration certificate is crucial as it ensures smooth international trade operations by preventing delays at customs, additional costs, or even the destruction of goods.

If you’re launching a new export business or planning <a href="https://www.skydo.com/blog/how-you-can-streamline-international-transactions-for-your-business">cross-border transactions</a>, understanding the IEC code registration process is crucial. In this article, we’ll cover the required documentation, <a href="https://www.skydo.com/blog/how-much-forex-fees-do-you-pay-on-global-transactions">fees</a>, and other key details to help you complete your IEC code registration smoothly and kickstart your global <a href="https://www.skydo.com/blog/customer-journey-mapping-grow-it-business">business journey</a>.

The Importer Exporter Code (IEC) is a unique 10-digit code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. This code is a mandatory requirement for businesses and individuals engaged in international trade, including import and export activities. Without an IEC, businesses cannot legally conduct foreign trade operations, making it an essential component for anyone looking to expand their business beyond domestic borders.

The steps to the <a href="https://www.skydo.com/blog/iec-code-full-form-importance-fees#:~:text=An%20IEC%20Code%20(Import%20Export,payments%2C%20and%20exclusive%20export%20benefits.">IEC code</a> registration process are as follows:&nbsp;

mediaLibraryStrapi

Screenshot 2024-10-24 at 11.52.28 AM.png

The IEC Certificate will be sent via email. It can be downloaded after logging in to the DGFT website and clicking the Print IEC option under the IEC Profile Management 

What documents do you need for IEC code registration?

To apply for an Importer Exporter Code (IEC) in India, it is crucial to ensure all the documents required are submitted correctly for successful registration. The documents required for IEC include specific items such as the PAN card, bank details, proof of address, and identification documents. Here’s a comprehensive list of the required documents for IEC Code registration:

One of the following identification documents:

Any one of the following can be submitted as proof of business address:

Note: If the address proof is not in the name of the applicant firm, a No Objection Certificate (NOC) from the owner is required along with the address proof.&nbsp;

A cancelled cheque from a current bank account in the name of the firm or company. Alternatively, a bank certificate can be provided&nbsp;

A self-addressed envelope for the delivery of the IEC certificate via registered post&nbsp;

An active DSC or Aadhaar is required for submission&nbsp;

To modify your IEC details and ensure your importer exporter code registration is up to date, log in to the <a href="https://dgft.gov.in/CP?opt=iec-profile-management">DGFT website,</a> click My IEC, and then click Modify IEC.

Update the required information, attach the necessary documents, and apply after signing with your digital token. Once you complete the payment, you can download the receipt from the DGFT website.

The IEC Code Registration fee structure includes two components:

If you seek assistance from a professional to complete the IEC registration process, an additional consultation fee will apply. This fee is variable and depends on the professional’s expertise and experience. The IEC code comes with lifetime validity, meaning it remains valid for the entire lifespan of a business, negating the need for renewal processes.

How to Link Existing IEC Code with DGFT?&nbsp;

If you already have an IEC code that you want to link with DGFT, here are the steps to follow:&nbsp;

Why Was My IEC Code Application Rejected?

Your IEC code application may be rejected for a number of reasons Here are a few of them:

Ensure all required documents are prepared and available before starting the application process. Missing documents can lead to delays or outright rejection of your application.

Double-check all entries for accuracy. Providing incorrect information or leaving fields incomplete can result in verification issues and may prevent your IEC from being issued.

Carefully read and follow the guidelines provided by the Directorate General of Foreign Trade (DGFT). Ignoring these instructions can lead to mistakes that complicate the application process.

Pay attention to details such as spelling, spacing, and formatting. Small errors can cause significant problems during verification.

IEC holders must update their details annually, typically between April and June. Failing to do so can result in the IEC's deactivation, preventing import/export activities.&nbsp;

How To Fix errors in IEC Code registration?&nbsp;

If your IEC application is rejected, here are the steps you should take:

Carefully read the rejection letter to understand the reasons for the denial. This will help you identify specific errors or omissions that need correction.

Re-apply if errors are correctable

If the issues mentioned in the rejection letter are correctable, make the necessary adjustments and reapply for the IEC. Ensure that all required documents are accurate and complete.

Consult an expert if you need further help

If you're unsure how to proceed or need assistance addressing the rejection, consider consulting a professional or business consultant specializing in IEC applications. They can provide guidance and help streamline the reapplication process.

Safe and Compliant International Payments with Skydo&nbsp;

For businesses with a new IEC code looking to streamline international transactions, <a href="https://skydo.com/">Skydo</a> offers a secure and efficient payment platform.

Additionally, the support provided by the export promotion council helps businesses navigate regulations and optimize their trade operations, further enhancing the benefits of using Skydo.

Aligned with RBI regulations and partnering with reputable banks, <a href="https://www.skydo.com/">Skydo</a> ensures compliance while providing real-time payment tracking, multi-<a href="https://www.skydo.com/blog/how-to-choose-the-right-currency-exchange-rate-for-invoicing">currency</a> support, and lower fees than traditional banks. Its integrated platform handles invoicing, payments, and accounting, simplifying cross-border trade.

With automated compliance checks and foreign currency accounts for Indian companies, Skydo is the ideal companion for businesses venturing into global markets. It complements the benefits of your newly acquired IEC.

large_IEC (Importer Exporter Code) 

medium_IEC (Importer Exporter Code) 

small_IEC (Importer Exporter Code) 

thumbnail_IEC (Importer Exporter Code) 

IEC (Importer Exporter Code) 

If you’ve been searching for the IBAN number of Indian banks like HDFC IBAN Number, Bank,<a href="https://www.skydo.com/blog/iban-number-meaning-full-form"> IBAN number </a>of SBI, ICICI bank IBAN number, Axis Bank IBAN Number, or Canara Bank IBAN Number, here’s what you need to know: India does not use the IBAN system. IBAN (International Bank Account Number) is primarily used in Europe and some other regions for facilitating cross-border payments.&nbsp;

HDFC Bank does not provide IBAN numbers, as India does not use the IBAN system for international transactions. Instead, you will need the SWIFT code, account number, and branch details to receive foreign payments. The SWIFT code for HDFC bank’s Mumbai Headquarter is HDFCINBB:

Click here to find the <a href="https://www.skydo.com/swift-code-finder">right SWIFT code for your bank</a>

SBI does not have IBAN numbers because India’s banking system operates with SWIFT codes and IFSC codes for international and domestic transactions. Foreign clients sending payments to SBI accounts will need the SWIFT code and account details instead of an IBAN.

&nbsp;The SWIFT code for SBI’s Agartala branch is SBININBB476:

Axis Bank, like other Indian banks, does not support the IBAN system. Cross-border payments to Axis Bank accounts require SWIFT codes and account information, not IBAN numbers.

&nbsp;The SWIFT code for Axis Bank’s Ahmedabad branch is AXISINBB008:

ICICI Bank, like all other Indian Banks, does not offer an IBAN number. Cross-border payments to ICICI Bank accounts require SWIFT codes and account information, not IBAN numbers.

&nbsp;The SWIFT code for ICICI Bank’s Delhi branch is ICICINBB007:

Canara Bank does not use or provide IBAN numbers, as India’s international payment system relies on SWIFT codes. You’ll need to share your SWIFT code, branch details, and account number to receive international payments.

&nbsp;The SWIFT code for Canara Bank’s Bangalore branch is CNRBINBBLFD:

Indian banks use alternative identifiers like <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide#what-is-a-swift-money-code">SWIFT codes</a> for international transactions and IFSC codes for domestic transfers. Since India does not follow the IBAN system, these codes ensure seamless routing of payments within and outside the country.

While IBANs are commonly required for cross-border payments to many countries, international transfers to Indian banks only require the recipient’s account number, SWIFT code, and bank address. Providing these details accurately ensures smooth processing and avoids delays or rejections. You can also r<a href="https://www.skydo.com/">eceive SWIFT payments via Skydo</a> seamlessly. You can also find the<a href="https://www.skydo.com/swift-code-finder">&nbsp;right SWIFT code for your bank right here</a>.&nbsp;

How Skydo Simplifies International Payments

Managing international payments through traditional banks can be complicated and expensive for Indian businesses and freelancers. Skydo offers a more practical alternative—virtual accounts in 7+ regions that make it easier for your global clients to pay you without the need for IBANs.

&nbsp;With real-time FX rates and no hidden forex markups, you keep more of what you earn. Our flat fees—$19 for payments under $2,000 and $29 for payments up to $10,000—mean no unpleasant surprises.

Plus, we ensure 100% compliance with Indian regulations and provide instant FIRA at no extra cost. With Skydo, international payments become simple, cost-effective, and stress-free, letting you focus on growing your business without worrying about banking complexities.

IBAN number of HDFC Bank, ICICI Bank, SBI Bank and more: All You Need to Know

large_IBAN number of HDFC Bank, ICICI Bank, SBI Bank and more: All You Need to Know

medium_IBAN number of HDFC Bank, ICICI Bank, SBI Bank and more: All You Need to Know

small_IBAN number of HDFC Bank, ICICI Bank, SBI Bank and more: All You Need to Know

thumbnail_IBAN number of HDFC Bank, ICICI Bank, SBI Bank and more: All You Need to Know

What is FIRA (and how the terminology evolved)

In banking, FIRA is your AD bank’s written confirmation that foreign currency was received against your export of goods/services. Many branches still use “FIRA/FIRC” interchangeably, which causes confusion—the function for exports is FIRA.

Freelancers &amp; agencies (service exporters)

If you offer services to overseas clients—IT/engineering, design, content, marketing, consulting—every inward foreign payment should be backed by a FIRA. It proves the income is export revenue, not a personal transfer, and supports GST refunds and audits.

If you are working for an international company and getting paid directly from them in foreign currency, you would need FIRA.&nbsp;

For global subscriptions or license sales, FIRA underpins revenue recognition and audit trails (monthly or one-off). Course creators and other digital products fall here, too.

Goods exporters &amp; marketplace sellers

If you export physical products (direct or via marketplaces like Amazon/eBay), FIRA is the first step; then, eBRC is generated to complete the documentation.

Simple rule: If you receive foreign income, you should have a FIRA for each payment.

Takeaway: Service exporters typically rely on FIRA; goods and SOFTEX-covered software exporters need FIRA + eBRC.

Skydo: instant, automated FIRA (and clear pricing)

If you receive payments through Skydo, FIRA is generated automatically for every inward remittance—no branch visits or follow-ups. You also get live mid-market FX with clear, flat fees (no hidden markups), plus India-based support.

Why exporters pick Skydo for compliance + cost control

Want a link-based flow with automatic FIRA and predictable FX? Try InstaLinks for US clients, or use Skydo’s virtual USD/EUR/GBP accounts for broader collections.

large_Importance of FIRA for Freelancers th

medium_Importance of FIRA for Freelancers th

small_Importance of FIRA for Freelancers th

thumbnail_Importance of FIRA for Freelancers th

Importance of FIRA for Freelancers th

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