The timeline for receiving funds depends on the currency and transfer method. Please refer to the attached table for the standard timelines for receiving money in your virtual account and settling it into your Indian bank account.&nbsp;

&nbsp; **Please note that these are standard timelines, and the actual receipt of funds may vary due to weekends, holidays, or delays from the sender's bank.

If the timeline has passed, please verify the bank details on the transaction receipt, as incorrect details can cause the amount to be automatically returned to the sender.

If the details are correct, kindly email the transaction receipt to us at <a href="http://support@skydo.com">support@skydo.com</a>, and we will raise it with our partner bank.

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Yes, chargebacks can be raised against InstaLink payments. If a chargeback is issued within 3 days of payment, Skydo will return the amount directly to the payer, and no settlement will occur to your account.

If the chargeback is raised after the payment has been settled to you, you are fully liable to return the payment amount plus any additional processing fees. Skydo reserves the right to withdraw the chargeback amount and fees directly from your virtual account.

For more details, refer to our chargeback policy <a href="https://skydo-public-documents.s3.ap-south-1.amazonaws.com/veem/Terms+%26+Conditions+_+InstaLinks.pdf">here</a>.

To receive payments from a country in their non local currency, you can use your "Rest of the World" account. This allows you to receive non-local currency payments seamlessly into your Skydo virtual account.

For example if your client wants to send US Dollars from Europe, the transfer needs to be done to the the rest of the world - International SWIFT Account. You can access your account details from <a href="https://dashboard.skydo.com/international-accounts?location=row">here</a>.

You will receive an email and WhatsApp notification once the money is credited to your Skydo local account. Notifications will be sent at every step of the payment process, keeping you updated on the status of your payment. Please be advised that it does take some time for the amount to get credited to your local Skydo account.&nbsp;

You can use Skydo's invoicing feature to create compliant invoices. If you prefer to use your own invoice format, ensure it includes all necessary details such as:

Both FIRA (Foreign Inward Remittance Advice) and FIRC (Foreign Inward Remittance Certificate) provided by Skydo are compliant with regulatory requirements and accepted for GST filing and by banks.

No, chargebacks are not applicable for bank transfers as these are bank debit transfers authorised by the sender. In case of a dispute, Skydo shall not be held responsible, and the exporter and the buyer would need to settle the issue directly.

Skydo supports 37 purpose codes for inward remittance.

At Skydo, we strive to provide a seamless and efficient payment processing experience for our users. However, there are certain limitations and restrictions you should be aware of when receiving foreign remittances through our platform.

To ensure cost-effectiveness and efficient processing, Skydo has set a minimum transaction threshold of 50 USD. As Skydo charges fees based on slabs, processing small payments that are too close to the fee value may not be viable for users. Therefore, payments below this threshold cannot be processed through our platform.

There is no upper limit on the amount you can receive through Skydo. Our platform is designed to handle large transactions smoothly, allowing you to receive high-value payments without restrictions.

3. Handling Frequent Low-Value Transactions

If you anticipate receiving frequent (&gt;20) low-value payments, we recommend reaching out to our support team for guidance. We can provide tailored solutions to better accommodate your transaction needs.

For any queries or concerns regarding remittance limitations, feel free to contact our support team:

Email: <a href="http://support@skydo.com">support@skydo.com</a> Phone: 7026000500

We’re here to ensure your payment experience with Skydo remains hassle-free and efficient!

Creating a clear and comprehensive invoice is crucial for seamless payment processing. Here’s a checklist to ensure your invoice meets all the requirements:

2. Add Client's Details:&nbsp;

3. Provide Detailed Service Descriptions:&nbsp;

4. Add Key Dates and Invoice Numbers:

By following these steps, you can help us process your payments faster and more efficiently!

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Recurring payments are not yet supported. You can send new payment links for each payment request.

Currently, EMI options are not supported on Skydo Payment Links.&nbsp;

No, partial payments are not supported at this time. Your client will need to pay the full amount specified in the payment link.

The settlement timeline depends on the payment method used:

Settlement timelines may vary slightly due to banking holidays or additional checks.

We generally process payments within 5 - 6 US business days. However, if the payment was initiated on a US bank holiday or weekend, those days are not counted as business days. This can add additional time to the processing period, which is why it may take longer than 6 business days for the funds to settle.

Yes, refunds are possible, but the process depends on the payment method and whether the funds have already been settled to you:

If the payer issues a chargeback within 3 days of payment, Skydo will return the amount directly to the payer, and no settlement will occur to your account.

If the payer issues a chargeback after the payment has been settled to you:

If the payer’s claim is accepted and the funds have already been transferred to you, you must repay the full transaction amount plus any applicable fees to Skydo.

Refer to our chargeback policy <a href="https://skydo-public-documents.s3.ap-south-1.amazonaws.com/veem/Terms+%26+Conditions+_+InstaLinks.pdf">here</a>.

Yes. As per the accepted terms and conditions, Skydo has the right to debit your virtual account funds to recover chargeback amounts and associated fees if you do not return them voluntarily.

Refer to our terms &amp; conditions for InstaLinks <a href="https://skydo-public-documents.s3.ap-south-1.amazonaws.com/veem/Terms+%26+Conditions+_+InstaLinks.pdf">here</a>.

If you have questions or need support, please reach out to support@skydo.com or your account manager, and we’ll assist you in resolving the issue.

The actual payment process includes additional verification by the bank, which can take up to 1 business day.

The initial confirmation simply indicates that the payer has authorized Skydo to debit the amount. The payment itself is pending verification and settlement.

In this case, you will receive a follow-up notification that the payment has failed and no money has been collected.

When your client authorises a payment, we will send you an email notification. However, at this stage, the payment is still pending verification, and the money has not yet been received.

Here’s how to interpret the statuses on your Instalinks page:

So, if you want to confirm that a payment has reached your Indian Bank Account, look for the Paid status in your dashboard.

Payments typically take 1 business day to be verified and confirmed.

Once verified, you'll receive a final confirmation notification, indicating that the funds have been successfully debited from your payer's account.

Realisation of export bills (in respect of goods) sent on collection (full invoice value)

This code is used when an Indian company exports goods and receives payment for the full invoice value. Note that this purpose code is applicable only when the foreign client has received the shipment. 

Advance receipts against export contracts (export of goods only)

This is used when businesses receive advance payment against the contract of the goods to be exported. In other words, here the company receives payment for goods before they are shipped.

This code is used for foreign exchange transactions related to business travel, particularly when someone converts currency for a work trip abroad.

This code is used when exporters receive foreign payment for providing hardware consultancy or implementation services abroad.

Software implementation/consultancy  (other than those covered in SOFTEX form)

This code is applicable for any sort of software developement, implementation and/or consultancy work done other than those covered in SOFTEX form.

This code applies when exporters are receiving foreign currency for providing data processing services abroad. This could be relevant for companies like Business Process Outsourcers (BPOs) 

P0805 is used when when an Indian entity receives international payment for providing news agency services abroad. For example An Indian news agency receives payment from a foreign media outlet for news content.

Other information services- Subscription to newspapers, periodicals, etc.

This is a catch-all code to track foreign payments for various information services not explicitly mentioned in other codes under P08. This can include subscriptions to specialized databases, newspaper periodicals etc.

This code signifies that an Indian company is receiving payment for software development or IT services provided to a foreign client, but the work itself is done in India.

This code is used when an Indian entity receives payments for providing legal services to foreign clients. 

Accounting, auditing, book keeping services

This code is applicable when an Indian entity receives international payment from foreign clients for providing financial expertise in the field of accounting, auditing, book keeping and tax consultation

Business and management consultancy and public relations services

This code is used when exporters receive a payment from a foreign client for providing business consultancy, management consultancy or public relations services.

Advertising, trade fair, market research and public opinion polling services

This code is used when exporters receive a payment from a foreign client for providing  advertising, trade fair, market research or public opinion polling services

This code is used when exporters receive a payment from a foreign client for providing research & development services. 

Architectural, engineering and other technical services

This code is used when exporters receive a payment from a foreign client for for providing  architectural, engineering and other technical services

Inward remittance for maintenance of offices in India

This code is used when exporters receive a transfer of funds from abroad specifically for the maintenance and upkeep of an office located in India. 

This code is used when exporters, receive a payment from a foreign client for services related to protecting, managing or maintaining the environment. 

Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights.

This code applies when exporters receive a payment from a foreign client for services related to the prodction, direction, rental, distribution, or use of audio-visual content. It also includes fees paid to actors, performers and associates related to such audio-visual content.

Payment queries