# How to Receive International Payments in India > Receive international payments in India with zero forex markup. Virtual bank accounts in multiple countries, flat fees from $19, instant FIRA. RBI authorized. Canonical page: https://www.skydo.com/receive-international-payments-in-india There are broadly four different ways to receive international payments in India, bank wires, payment gateways, remittance services, and virtual multicurrency accounts. Each one works differently when it comes to speed, fees, and compliance. Which one fits you comes down to what you actually want. Here’s a lowdown. ## Ways to Receive International Payments in India ### Bank Wire Transfer (SWIFT) SWIFT transfer is the traditional banking route for receiving money from a client abroad, using your bank account number and SWIFT code. The sender’s bank routes the funds through the SWIFT network, often via multiple correspondent banks, before crediting your Indian account, and Indian banks typically apply a forex markup along the way, for example crediting you at ₹92/USD instead of the actual ₹94/USD. **Pros:** - Connects to virtually any bank globally, works for any currency pair - No eligibility checks or approval needed on the client’s end to send **Cons:** - 1–3% worse forex rates vs mid-market - Possible intermediary bank deductions ($10–$40) - Slow settlement (3–7 business days) - **Cost:** $15–50 sender/intermediary fees + FX markup + paperwork charges - **Settlement Time:** 3–7 business days - **FIRA:** Not automatic, request separately from your AD bank at an added cost - **Ideal For:** Large transfers by established businesses prioritising safety ### PayPal PayPal is an online payment gateway that lets a client pay you directly through an invoice or checkout link. The payment lands in your PayPal wallet instantly, PayPal then converts it and auto-withdraws it to your linked Indian bank account. **Pros:** - One of the most recognised gateway. Widely accepted. - Funds land in your PayPal wallet instantly, before withdrawal **Cons:** - 4.4% + $0.30 + 3-4% FX = 5-8% effective cost - No automated eBRC, no GST invoicing - **Cost:** 4.4% + fixed fee + FX markup + GST, ~9% all-in - **Settlement Time:** 1-3 business days - **FIRA:** Not issued per transaction. Only monthly FIRA - **Ideal For:** One-off or low-ticket payments, clients who specifically prefer PayPal ### Wise Wise Business is a multi-currency account that gives you real local account details in currencies like USD, GBP, and EUR. A client pays into those details as if they’re paying a local business, and Wise converts the funds to INR at the mid-market rate before settling to your Indian bank. **Pros:** - Converts at the real mid-market rate - Local account details mean the client avoids their own international wire fees **Cons:** - 1.6–1.8% platform fee scales with invoice size - FIRA costs $2.50 per certificate - **Cost:** Conversion fee (varies by currency) + FIRA fee + 18% GST on both - **Settlement Time:** 1–2 business days after conversion - **FIRA:** FIRA at $2.50 per certificate - **Ideal For:** Freelancers with smaller, frequent payments in supported currencies ### Stripe Stripe is a payment gateway built for accepting card payments online, with deep checkout and subscription tooling. In India, it currently runs invite-only, a client pays by card in one of 135+ currencies, and the funds settle to your account once approved and onboarded. **Pros:** - Best-in-class developer tools and APIs - 135+ currencies, card acceptance worldwide **Cons:** - Invite-only access in India, card-only - 6-7% effective cost - **Cost:** ~4.3% processing + ~2% conversion + 18% GST, ~6–7% all-in - **Settlement Time:** 2–5 business days - **FIRA:** Not issued - **Ideal For:** SaaS/subscription businesses already invite-approved for card billing ### Remittance Services (Western Union, MoneyGram, etc.) Remittance services are money-transfer networks built for personal transfers rather than business payments. A sender visits an agent or app abroad, and the money reaches you as a cash pickup or bank deposit, usually within a day or two. **Pros:** - Fast for personal transfers - No account setup needed on your end **Cons:** - Not suited for business or export payments - No FIRA issued - **Cost:** Service fees + FX markup, up to 5–10% of value - **Settlement Time:** Fast. 1 business day - **FIRA:** Not issued, unsuitable for business compliance - **Ideal For:** Personal transfers (NRI remittances, one-off gifts), not business invoicing ### Skydo (Recommended) Skydo is an RBI-authorized platform built specifically for Indian exporters and freelancers to receive international payments. It gives you real account details in the US, UK, EU, Canada, and Australia, a client pays into those like a local business, and Skydo converts and settles the funds to your Indian bank account. **Pros:** - Zero markup, live mid-market rate - Flat transparent fee, not a percentage - Instant, automatic, free FIRA on every transaction **Cons:** - Flat fee means smaller invoices (under $1,000) carry a higher effective rate - Inward payments only, no outward remittance yet - **Cost:** Flat $19 (up to $2,000), $29 ($2,001–$10,000), 0.3% (above $10,000), zero FX markup - **Settlement Time:** Within 24 hours - **FIRA:** Instant, automatic, and free on every transaction - **Ideal For:** Indian freelancers and exporters ## International Payments to India: A Side-by-Side Comparison Compare fees, settlement speed, compliance support, client experience, and more across leading international payment solutions. | Features | Wise | PayPal | Bank Wire | Skydo | | ---------------- | ------------------ | ----------------- | ------------------- | -------------------- | | Forex markup | 0% | 3-4% hidden | 2-4% hidden | 0% | | Fee structure | 1.6-2% of transfer | 4.4% + fixed | $25-$50 + FX markup | Flat $19-$29 | | Cost on $5,000 | $89 | $370 | $175 | $29 | | Cost on $10,000 | $178 | $740 | $350 | $30 | | Settlement speed | 1-2 business days | 2-5 business days | 3-5 business days | <24 hours | | FIRA included | Manual request | Not available | Manual request | Auto, instant | | Support | Email only | Email only | Slow & manual | Local Indian Support | | Best for | Mid-size B2B | Small payments | Legacy bank users | B2B exporters | ## How to Stay RBI Compliant While Receiving International Payments in India To stay RBI compliant while receiving international payments in India, you need to declare the correct RBI purpose code on every inbound transfer and obtain a FIRA (Foreign Inward Remittance Advice) as proof of receipt, both are required under FEMA and form the basis of your GST filings and audit trail. ### RBI Purpose Code A purpose code is an alphanumeric code (e.g. P0802, P1401, P1301) that tells RBI why the money is coming in, salary, software export, gift, and so on. Every inbound remittance is required to carry one, and banks capture it for FEMA reporting. Getting it right matters: the wrong code can delay or return a payment, and it’s what keeps your GST filings and audit trail consistent. A freelancer exporting IT services, for example, would use P0802 (Software Services). Share the code with your sender before they initiate the transfer, most platforms let you enter it directly. - **P0802** — Software consultancy and implementation - **P0801** — Hardware consultancy and implementation ### FIRC/FIRA Once the money lands, your bank issues a Foreign Inward Remittance Advice (FIRA), still often called FIRC, showing the sender’s details, the amount, and the purpose. It’s essential for accounting, GST claims, and export incentives. Traditional banks charge for it (Axis Bank, for instance, ~₹250) and may ask for invoices, contracts, or Form 15CA/15CB before issuing it. Digital platforms like Skydo and Payoneer skip this entirely, generating an electronic FIRA instantly at no extra charge. Either way, hold onto every FIRC/FIRA, you’ll need it for GST and audit purposes. Choosing the right method to receive payments only solves half the problem, staying compliant on every transfer is what keeps it problem-free. ## Six Factors to Consider While Receiving Money from Abroad Choosing the wrong payment method doesn’t just cost money, it can slow down settlements, complicate compliance, and create friction for your clients. Here are the six factors to compare. ### Total Cost, Not Sticker Fee Banks hide 2-4% FX markup. Compare INR received, not stated fees. **Look for:** Mid-market rates + flat pricing ### Settlement Speed 3-5 business day settlements can slow down your cash flow. **Look for:** <24h to your Indian bank ### FIRA & Compliance Manual FIRA requests and extra certificate fees can quickly add up. **Look for:** Auto-issued FIRA per payment ### Client Experience Complicated payment flows can slow down collections. **Look for:** Local accounts in client countries ### Country Coverage Limited country coverage can make collections significantly harder. **Look for:** Coverage in your top 3 markets ### Support Quality Slow, email-only global support can delay critical payment issues. **Look for:** India-based phone & WhatsApp ## Why Choose Skydo to Receive International Payments in India Skydo gives you the live mid-market rate with zero markup, flat transparent fees, RBI-backed security, and instant FIRA on every transfer, everything an Indian exporter needs to get paid without extra cost or delay. - **Receive Payments from:** 15+ countries - **Live mid-market rate:** Same rate you see on Google, every time. - **Flat fees (Under $2,000):** $19 - **Flat fees ($2,001-$10,000):** $29 - **Flat fees (Above $10,000):** 0.3% - **Instant & free FIRA, every time.** FIRA lands instantly in your inbox. Or download it anytime from your dashboard - RBI authorized and ISO 27001 - 24-hour settlement. India-based support ## Watch How Skydo Helps to Receive International Payments From signing up to receiving your first international payment, here is exactly what the experience looks like. ## Here’s what Skydo users have to say See how Indian businesses get paid by US clients on Skydo, from sharing account details to INR landing in the bank, in one short walkthrough. - Tarun Shah — Indian Freelancer - Chetanya — IT Consultant - Varun — Founder of Scooper AI ## Receive Money from 40+ Countries - Receive Money from United States - Receive Money from United Arab Emirates - Receive Money from United Kingdom - Receive Money from Argentina - Receive Money from Australia - Receive Money from Austria - Receive Money from Bangladesh - Receive Money from Belgium - Receive Money from Brazil - Receive Money from Canada - Receive Money from China - Receive Money from Denmark - Receive Money from Egypt - Receive Money from Finland - Receive Money from France - Receive Money from Georgia - Receive Money from Germany - Receive Money from Hungary - Receive Money from Iceland - Receive Money from Indonesia - Receive Money from Italy - Receive Money from Japan - Receive Money from Kenya - Receive Money from Kuwait - Receive Money from Malaysia - Receive Money from Mexico - Receive Money from Netherlands - Receive Money from New Zealand - Receive Money from Nigeria - Receive Money from Philippines - Receive Money from Poland - Receive Money from Portugal - Receive Money from Qatar - Receive Money from Saudi Arabia - Receive Money from Singapore - Receive Money from South Africa - Receive Money from South Korea - Receive Money from Spain - Receive Money from Sri Lanka - Receive Money from Sweden - Receive Money from Switzerland - Receive Money from Thailand - Receive Money from Turkey ## Frequently asked questions ### What is the cheapest way to receive international payments in India? For business payments, Skydo offers the lowest total cost with flat fees ($19-$29) and zero forex markup. Always compare the total INR received, not just the stated fee. Banks typically hide 2-4% in forex markup that never appears as a line item on your statement. ### How long does it take to receive international payments in India? Via Skydo’s local accounts (ACH, Faster Payments, SEPA): under 24 hours. Via traditional SWIFT wire through a bank: 3-7 business days. Skydo uses local payment rails in each country, which settle much faster than the correspondent banking network. ### Do I need GST registration to receive international payments in India? If you export services commercially (freelancing, IT services, consulting), GST registration is mandatory. You charge 0% GST on export invoices with a Letter of Undertaking (LUT). If you receive personal remittances from family abroad, GST registration is not required. ### What is FIRA and why is it important for receiving foreign payments? FIRA (Foreign Inward Remittance Advice) is your official proof that foreign currency was received in India. You need it for income tax filing, GST returns, eBRC closure, and export incentive claims. Banks take 7-14 days and charge fees. Skydo generates FIRA instantly for every payment at no extra cost. ### Is there a limit on receiving international payments in India? There is no upper limit on inward remittances for business purposes under FEMA regulations. You can receive any amount as long as the purpose is legitimate and documented with the correct purpose code. Personal remittances also have no cap on the receiving side. ### What are the charges for receiving international payments in India? Charges vary by method. Banks charge 2-4% hidden forex markup plus wire fees. PayPal charges 4.4% plus 3-4% forex markup. Wise charges ~1.5% conversion fee. Skydo charges a flat $19-$29 with zero forex markup, making it the lowest cost option for business payments. ### Which countries can send payments to India via Skydo? Skydo supports payments from 150+ countries. For USA, UK, Canada, Australia, UAE, Germany, Singapore, and Nigeria, your client pays via local bank transfer. For all other countries including Malaysia, China, and Japan, clients send SWIFT payments to Skydo’s International SWIFT Transfer Account in the UK. ### How do I receive international payments in India without losing money on forex? Use a platform like Skydo that converts at the live mid-market exchange rate with zero markup. Banks and PayPal embed 2-4% hidden markup in their exchange rates. On a $10,000 payment, this difference alone can save you over ₹70,000 compared to traditional banking channels. ### What documents are required to receive international payments in India? You need PAN card, bank account details, Aadhaar, GST certificate (if registered), and an invoice to sign up for the first time. Skydo handles all RBI compliance documentation including purpose code tagging and FIRA generation. Your international client only needs your local account details to initiate the payment. ### Is Skydo safe and authorized for receiving international payments in India? Yes. Skydo is authorized by the Reserve Bank of India under the PA-CB (Payment Aggregator Cross Border) framework. Skydo is SOC 2 certified, ISO 27001 certified, and partners with HDFC Bank, DBS, Visa, and CurrencyCloud. Over 30,000 Indian businesses use Skydo to receive international payments. ## Ready to Save More on International Payments? Start receiving global payments with Skydo and keep more of what you earn. [Get started with Skydo](https://www.skydo.com)