Cross-Border Payments: Fees, Timelines & Real-Time Tracking (Exporter Guide)
You’ve either faced this yourself or heard it from another exporter/freelancer:
Tracking cross-border payments isn’t simple.
Most times, you can’t “track” anything directly as the receiver. Your client’s bank (and your bank) can trace it — but you often need a reference first.
And that’s where the confusion starts:
- You ask your client for an MT103 and get a PDF “receipt”.
- But an MT103 mainly proves the wire was sent, it doesn’t automatically give you a live map of where the money is unless the banks use SWIFT tracking (gpi) and you have the right reference (UETR).
On top of tracking, exporters also worry about:
- fees that get deducted mid-route
- settlement timelines that slip
- and payments that get stuck for “compliance reasons” with zero clarity
This guide explains how cross-border payments work, where costs hide, how long they really take, how SWIFT tracking works in practice, and what to do when money gets stuck — plus why Skydo can be a cleaner receiving setup for many exporters.
TL;DR
- Cross-border payments are transfers where payer and recipient are in different countries, the money may pass through multiple banks before reaching India.
- Costs often hide in FX spreads/markups and correspondent/intermediary bank deductions (especially on SWIFT wires).
- International wire transfers commonly take up to ~5 business days, and can take longer due to cut-offs, holidays, or compliance checks.
- To trace a SWIFT wire, you should ask for the UETR (best) or an MT103 copy (often includes UETR if gpi-enabled). A UETR is the SWIFT “tracking number.”
- Skydo reduces guesswork by giving status updates inside the dashboard (initiated → in transit → credited) and positioning flat fees + live FX + instant FIRA for exporters.
What are cross-border payments?
A cross-border payment is any transaction where the sender and receiver are in different countries.
So your client is the sender, and you’re the receiver — but before the money hits your Indian bank account, it may move through international payment networks (often SWIFT + correspondent banks), and then get processed by your Indian AD bank.
A good cross-border payments setup prioritises:
- Cash flow: faster settlement and fewer “idle days”
- Compliance: clean documentation trail (invoice/SOW, purpose, FIRA/FIRC as applicable)
- Predictability: clarity on fees, FX rate, and where the payment is
How cross-border payments actually move (the real route)
1) Sender initiates the payment
Your client instructs their bank to send money using your beneficiary details (name, account number/IBAN where relevant, and SWIFT/BIC for wires). For a SWIFT wire, the transfer is typically communicated using SWIFT customer credit transfer messaging like MT103 (or ISO 20022 equivalents).
2) Intermediary/correspondent banks may get involved
If the sender’s bank doesn’t have a direct relationship with your bank, the payment may hop through one or more correspondent banks. Each intermediary may apply its own fees and processing timelines.
3) Indian AD bank credits you after checks
Once the funds reach India, your bank may run compliance checks (KYC/AML/sanctions screening + purpose/payment context). If all is clean, funds are converted (if needed) and credited to your account
Common “rails” exporters use
1) Bank Wire (SWIFT)
Reliable for larger B2B payments — but often:
- slower
- harder to track as a receiver
- prone to unpredictable deductions
2) Card / Checkout
Great for SaaS/e-commerce and online checkout flows, but fees can be higher (gateway + cross-border + chargeback exposure + FX spread).
3) Local Collection Accounts (Virtual Accounts)
You get local bank details abroad (like US ACH rails). Often faster and more predictable than SWIFT, depending on provider/currency/country.
4) Marketplace Payouts
Amazon/other platforms pay out on their own cycles; reconciliation and export documentation become the bigger pain.
Cross-border payment fees explained
Where costs typically show up
- FX rate (spread/markup) Banks often don’t convert at the mid-market rate you see on Google — they apply a spread. The exact % varies by bank, corridor, and amount.
- Sender bank fee The sender’s bank usually charges an outgoing wire fee (varies widely by bank/type of account).
- Intermediary bank deductions On SWIFT wires, correspondent banks can deduct fees en route — which is why you sometimes receive a “short payment”.
- Receiving/handling + compliance friction Your receiving bank may charge inward remittance/handling fees, and documentation follow-ups can add operational cost.
Fee instruction matters: OUR vs SHA vs BEN
On SWIFT wires, the sender can choose who bears charges:
- OUR: sender pays all fees (recipient should get full amount)
- SHA: fees shared (recipient may receive less)
- BEN: recipient pays all fees (fees deducted from amount sent)
This is a big lever for exporters: if you’re receiving wires, push large buyers toward OUR to protect your margins.
How long do cross-border payments take?
There isn’t one universal timeline — it depends on rail, corridor, cut-off times, intermediary chain, and compliance checks.
Typical timelines by method (practical view)
- SWIFT wire: commonly up to ~5 business days; can be faster on some routes, or slower if held for checks.
- Cards: settlement depends on gateway + acquiring setup; can be 1–5 business days.
- Local rails/virtual accounts: often faster than SWIFT in many corridors, but still depends on provider/currency/banking cut-offs.
- Marketplace payouts: depends on platform payout cycles and withdrawal method.
Why “2 days” becomes “7 days”
- Compliance checks/manual review (KYC/AML/sanctions)
- Incorrect beneficiary details (name mismatch, wrong account/SWIFT)
- Long intermediary chain
- Weekend/holiday cut-offs
- Missing context (invoice/SOW/purpose clarification requested)
Real-time tracking for cross-border payments
What “tracking” means in the SWIFT world
SWIFT has a tracking layer called SWIFT gpi. For gpi-enabled flows, payments carry a UETR — a unique reference that works like a parcel tracking number.
Key reality check: Even if gpi exists, the receiver usually can’t see tracking unless:
- your bank provides a tracker/portal, or
- your bank shares updates when you give them the UETR/MT103 details
Some banks do provide trackers using the UETR.
SWIFT Go
SWIFT Go is designed for low-value cross-border payments (consumer/SME use cases) and supports transfers up to $10,000 equivalent — but it only applies if the banks involved offer it. So it’s not the default answer for exporter wires.
What to ask for to trace a payment
Ask your client for this first (best-to-have):
- UETR (Unique End-to-End Transaction Reference)
- Sender bank name + SWIFT/BIC
- Value date / transfer date
- Amount + currency
- Beneficiary name + account number exactly as sent
If they can’t find UETR, ask for:
- MT103 copy / SWIFT payment confirmation (often contains UETR in gpi flows)
Compliance for exporters
Documents exporters typically need (practical set)
- Invoice (must match amount/currency and payment narrative)
- Contract / SOW (especially for service exports)
- Remitter details (who paid, why, relationship)
- FIRA/FIRC/eFIRC (depending on bank/process and what you need it for)
- Shipping docs (goods exports: BL/AWB, shipping bill, etc.)
- eBRC (where applicable: DGFT/export benefit workflows / certain export compliance needs)
How to choose a cross-border payment partner (
- What rates do you offer? Give priority to banks or platforms that openly mention mid-market rates, like Skydo and Wise. If they use terms like “best rates” or “best in the market rates,” chances are there will be a hidden markup at the time of currency conversion. Always check your FIRA to compare the rate offered to you with the exchange rate on that day.
- What’s the settlement timeline by country? Settlement speed impacts your working capital. The quicker the money settles, the easier it is to maintain liquidity
- Can I track payments end-to-end? End-to-end visibility means you always know where your money is, which a huge advantage to plan your other business activities
- What compliance docs do you provide and how fast? Non-compliance keeps payment stuck. A partner that automates paperwork as soon as funds must get brownie points.
- What’s the dispute/chargeback exposure (if cards)? Clear documentation about chargebacks keeps you safe from unwarranted risks and protects your revenue
- Support turnaround time? A slow response freezes your cash flow for days. A reliable support team, preferably based in India is essential to resolve compliance bottlenecks
Where Skydo fits
Skydo is built for Indian exporters and freelancers who want a receiving setup that’s predictable: clear fees, clear FX, and clear payment status.
1) Real-time visibility (receiver-side)
Instead of chasing MT103s, Skydo positions dashboard tracking (initiated → in transit → credited) so the receiver can monitor progress directly.
2) Transparent fees + live FX positioning
Skydo positions flat fees (instead of % pricing) and no FX markup / live FX — so exporters can estimate net INR more reliably before the payment lands.
3) Compliance trail
Skydo positions instant FIRA availability per payment from the dashboard, reducing bank follow-ups.
4) Latest RBI PA-CB authorisation (trust layer)
Skydo received final RBI authorisation to operate as a Payment Aggregator – Cross Border (PA-CB) in January 2026.
Bottom line: The best setup isn’t just “receive money.” It’s: receive + track + stay compliant — without guessing what happened in between.
