> ## Documentation Index
> Fetch the complete documentation index at: https://razorpay-60c89f9a-mintlify-audit-missing-sections-1778528421.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.
# International Bank Transfer (MoneySaver Export Account)
> International Bank Transfer enables Indian businesses to accept international payments through local currency bank accounts without the complexity of opening foreign bank accounts. Your international buyers can pay you u
* **Activate International Bank Transfer**: Check the steps to activate International Bank Transfer.
* **International Bank Transfer Dashboard**: International Bank Transfer dashboard homepage overview.
International Bank Transfer enables Indian businesses to accept international payments through local currency bank accounts without the complexity of opening foreign bank accounts. Your international buyers can pay you using familiar local payment methods like ACH, FPS, SEPA and SWIFT, whilst you receive settlements directly in your Indian bank account in INR.
### Advantages
* **Competitive Pricing**
International bank tranfers cost only 1% with Zero Forex Markup vs traditional banks and other fintech platforms.
* **Faster Settlement TAT**
Receive your payments within 1 business day of the payment being captured vs traditional bank transfer that takes 5-7 business days.
* **Complete Compliance**
Receive your FIRC within minutes of the amount being credited to your INR account; built-in invoice management and buyer detail collection to ensure RBI and partner compliance.
* **Hassle-free setup**
Opening bank accounts in foreign countries typically requires extensive paperwork and physical presence. Razorpay offers a real-time, completely digital solution to activate foreign currency accounts across different geographies.
* **Multi-currency support**
Accept payments in 30+ currencies through USD, GBP and EUR virtual accounts, with support for ACH, FPS, SEPA and SWIFT transfers.
* **Easy platform integration**
Seamlessly connect your virtual accounts to Amazon Seller Central, Upwork, Deel and other marketplaces or freelancing platforms.
* **Higher success rates**
International card payments often fail due to fraud checks and risk validations. Bank transfers have significantly higher success rates, improving your conversion.
* **No chargebacks**
Bank transfers are authorised payments that cannot be reversed through chargebacks, protecting you from fraudulent disputes and providing better cash flow predictability.
* **No card required**
Customers without access to international cards can pay through their bank accounts, making it easy for you to sell in countries with lower card penetration.
* **No bank branch visit needed**
Customers can make payments online through local bank transfers (like ACH) instead of visiting their bank branch for international wire transfers. This significantly improves the payment experience.
* **Familiar payment experience**
Buyers can pay in their local currency using payment methods they are already comfortable with, reducing friction and abandoned payments.
* **Lower costs for buyers**
Local ACH transfers incur lower fees compared to international card payments or SWIFT transfers, making your products more attractive.
* **Faster payments**
Local payment rails process faster than traditional international wire transfers, improving cash flow for your business.
* **Currency flexibility**
Customers can initiate payments in their native currency (USD, GBP, EUR), whilst you receive settlements in INR in your Indian bank account.
## How It Works
Activate International Bank Transfer.
* New Razorpay user: Sign up for an [account](https://razorpay.com/accept-international-payments/bank-transfers/).
* Existing Razorpay user: Log in to the Dashboard. Navigate to **Account & Settings** → **International payments** (under Payment methods) → **International bank transfers** and click **Activate**.
Receive virtual bank account details for USD, GBP, EUR, AUD, CAD, SWIFT and more.
Share these account details with your international buyers.
Accept payments when buyers transfer money using local payment methods.
Upload invoices and buyer details for each transaction (not required for Amazon, Upwork and Freelancer platform transactions).
Track payments through detailed timelines on your dashboard.
Receive settlements in INR in your Indian bank account.
## Supported Payment Methods
International Bank Transfer supports the following payment methods:
## Currency Name \[columWidth="30"] | Currency Code | Payment Method | Account Type
## United States Dollar | USD | ACH | Virtual USD Account
## Pound Sterling | GBP | FPS | Virtual GBP Account
## European Euro | EUR | SEPA | Virtual EUR Account
## Canadian Dollar | CAD | EFT | Virtual CAD Account
## Swiss Franc | CHF | SIC ACH/SIC RTGS | Virtual CHF Account
## Swedish Krona | SEK | RIX Instant/RIX RTGS | Virtual SEK Account
## Danish Krone | DKK | DKK Local | Virtual DKK Account
## Australian Dollar | AUD | NPP/Osko/BECS | Virtual AUD Account
## Bahrain Dinar | BHD | SWIFT ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ | Virtual SWIFT Account ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
## Chinese Yuan | CNY | |
## Czech Koruna | CZK | |
## European Euro | EUR | |
## Pound Sterling | GBP | |
## Hong Kong Dollar | HKD | |
## Hungarian Forint | HUF | |
## Israeli Shekel | ILS | |
## Japanese Yen | JPY | |
## Kenyan Shilling | KES | |
## Kuwait Dinar | KWD | |
## Mexican Peso | MXN | |
## New Zealand Dollar | NZD | |
## Norwegian Krone | NOK | |
## Omani Rial | OMR | |
## Polish Zloty | PLN | |
## Qatar Rial | QAR | |
## Romanian Leu | RON | |
## Saudi Riyal | SAR | |
## Singapore Dollar | SGD | |
## South African Rand | ZAR | |
## Thai Baht | THB | |
## Turkish Lira | TRY | |
## Ugandan Shilling | UGX | |
## United Arab Emirates Dirham | AED | |
## United States Dollar | USD | |
## Use Cases
International Bank Transfer is ideal for:
* Freelancers and consultants providing services to international clients.
* SaaS companies selling software subscriptions globally.
* IT services providers working with overseas customers.
* Ecommerce sellers on Amazon, eBay, or their own websites.
* B2B exporters selling physical goods internationally.
* Digital content creators monetising international audiences.
* Professional services firms offering consulting, legal or accounting services globally.
## Prerequisites
Before activating International Bank Transfer, ensure you meet the following requirements:
* Active Razorpay account with KYC verification completed.
* PAN details of your business provided during onboarding.
* You must be an Indian business that falls under one of the following export purpose codes to use MoneySaver Export Account:
## Purpose Code | Description
## P0103 | Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF (other than Nepal and Bhutan).
## P1004 | Legal services.
## P1005 | Accounting, auditing and bookkeeping services.
## P1006 | Business and management consultancy and public relations.
## P1007 | Advertising, trade fair service.
## P1008 | Research and Development services.
## P1009 | Architectural services.
## P0802 | Software consultancy/implementation (other than those covered in SOFTEX form).
## P1020 | Wholesale and retailing trade services.
## P1002 | Trade related services - commission on exports/imports.
## P1104 | Entertainment services.
## P1015 | Tax consulting services.
## P1016 | Market research and public opinion polling service.
## P1017 | Publishing and printing services.
## P1019 | Commission agent services.
## P1107 | Educational services.
## P1109 | Other personal, cultural and recreational services.
## P1701 | Receipts on account of processing of goods.
## P0301 | Purchases towards travel (includes purchases of foreign TCs, currency notes over the counter, by hotels, emporiums, institutions, as well as amount received by TT/SWIFT transfers or debit to non-resident account).
## P0302 | Business travel.
## P0304 | Travel for medical treatment including TCs purchased by hospitals.
## P0305 | Travel for education including TCs purchased by educational institutions.
## P0306 | Other travel receipts.
## P0601 | Receipts of life insurance premium.
## P0602 | Receipts of freight insurance - relating to export of goods.
## P0603 | Receipts on account of other general insurance premium.
## P0605 | Receipts on account of auxiliary services (commission on insurance).
## P0607 | Insurance claim settlement of non-life insurance and life insurance (only term insurance).
## P0608 | Life insurance claim settlements (excluding insurance) received by residents in India.
## P0801 | Hardware consultancy/implementation.
## P0803 | Database, data processing charges.
## P0804 | Repair and maintenance of computer and software.
## P0805 | News agency services.
## P0806 | Other information services - subscription to newspapers, periodicals and so on.
## P0808 | Telecommunication services including electronic mail services and voice mail services.
## P1013 | Environmental services.
## P1014 | Engineering services.
## P1101 | Audio-visual and related service: Motion picture and video tape production, distribution & projection service.
## P1103 | Radio and television production, distribution and transmission services.
## P1105 | Museums, library and archival services.
## P1106 | Recreation and sporting activity services.
## P1108 | Health service (receipts on account of services provided by Indian hospitals, doctors, nurses, paramedical and similar services rendered remotely or on-site).
* You should have international payment via Payment Link enabled on your account if you want to receive payment from customers in foreign currency, such as USD. The money will be settled in your Indian current account in INR. Know [how to enable international payments for your account](#activate-international-bank-transfer).
## Activate International Bank Transfer
The activation process differs based on whether you are a new or existing Razorpay user.
### New Razorpay User
If you are new user, you will need to complete the following steps displayed on the onboarding screens to activate international payment methods.
1. Sign up for a [Razorpay account](https://razorpay.com/accept-international-payments/bank-transfers/).
2. On the onboarding screen, select **Outside India (International)** and click **Start Onboarding**.
3. Fill up the following details to complete the onboarding:
* Basic Details:
* Name (Business or Individual).
* Phone number.
* Email address.
* Payment channels you want to enable.
* Business Details:
* Type of business: Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited, LLP, NGO and so on.
* Personal PAN (for individuals) or Business PAN.
* Business Documents:
* GSTIN certificate (if GST registered).
* Udyam registration certificate (for MSMEs).
* Complete your KYC:
* Business address with proof.
* Authorised signatory details.
* Complete video KYC:
* Requires Aadhaar and PAN card.
* Live video verification with Razorpay agent.
* Takes approximately 3-4 minutes.
4. Follow the on-screen instructions to provide any additional details or documentation required for activation.
### Existing Razorpay User
If you are an existing Razorpay user, to activate **Local Currency Bank Transfer** payment method, follow the steps given below:
1. Log in to the Dashboard.
2. Navigate to **Account & Settings** → **International payments** (under Payment methods).
3. In the **Local Currency Bank Transfer** section, under the International bank transfers tab, click **Activate**.
4. On the **Purpose code** page, select the correct purpose code from the list and click **Continue**.
5. On the **Importer - Exporter code** page:
* If you have an IE code, select **Yes**. Enter the 10-digit **IE code** and select **I agree to the Terms and Conditions**. Click **Continue**.
* If the IE code does not apply to you, select **No, because it is not applicable for me** and click **Continue**.
* If you do not have an IE code but want to apply, select **No, but I want to apply for it**, and click **Apply now**.
6. On the Video KYC page, select **Yes, I am Gaurav Kumar**, and click **Start Video KYC** to proceed with the video KYC.
7. Your request submitted successfully, click **Okay, got it**.
## Accessing The Dashboard
After the International Bank Transfer account is activated, you can access your dashboard:
**If you are using only International Bank Transfer:** You will automatically land on the International Bank Transfer homepage when you log in with all the international payment tools.
**If you are using multiple Razorpay products:**
Log in to the Dashboard.
On the left navigation, click **Intl Bank Transfer**.
You will land on the dashboard homepage with all the international payment tools.
### Dashboard Overview
Dashboard homepage is organised into key sections:
### Virtual Bank Accounts
At the top of your homepage, you will see cards for all your virtual bank accounts:
* USD Account (ACH)
* GBP Account (FPS)
* EUR Account (SEPA)
* SWIFT Account
* SGD, AED, AUD, CHF, DKK, SEK and CAD Accounts (Coming soon)
#### Accessing Your Account Details
Virtual Account Details
You can access your virtual account details in two locations:
1. Log in to the Dashboard.
2. Navigate to **Intl Bank Transfer**.
3. On the homepage, you will see cards for all your virtual accounts.
4. Click on any account card to view complete details.
5. From the left navigation menu, click **International Accounts**.
6. You will see a dedicated page with all your virtual account details.
7. Click on any account card to view complete details.
#### Share Your Account Details
There are two ways to share your virtual account details with customers, depending on your preference and their requirements.
### Manually Share Account Details
This is the quickest method when you want to share details via your own email, WhatsApp or other messaging platforms.
1. On your dashboard homepage or International Bank Accounts page, locate the account you want to share.
2. On account card. Click **Copy**.
3. Account details are copied to your clipboard. Paste the details into your email, WhatsApp message or other messaging platforms.
### Share Account Details Directly Via Email From The Dashboard
Use the built-in email sharing feature to share the account details.
1. On your dashboard homepage or International Bank Accounts page, locate the account you want to share.
2. On account card. Click **Share**.
3. Add Client details:
* In the **Client name** field, enter your client's full name.
* In the **Send to** field, enter your client's email address.
* (Optional) Click **+ Add CC** if you want to copy additional email addresses.
4. Click **Send Email**.
### Recent Transactions
Below the virtual accounts section, you will see the most recent payment transactions:
* Payment id and date.
* Amount in original currency.
* Payment status (Captured, Authorised, Failed).
* Amount saved compared to traditional methods.
* **+ Add Details** button for transactions requiring invoice upload.
### Video Guide
The dashboard includes comprehensive video guide to help you get started quickly:
* Getting Started with MoneySaver Export Account.
* Accepting Your First Payment.
* Adding Invoices & Client Details.
* Tracking Payments.
* Managing Marketplace Payouts.
* Connecting to Freelancer Platforms.
### Understanding Your Savings
The **Savings Calculator** on the dashboard shows how much you can save using Razorpay International Bank Transfer compared to traditional banks and other platforms.
Savings Calculator
Located on the dashboard homepage, the calculator helps you understand potential savings:
**How to Use:**
1. Use the slider to set your monthly payment volume.
2. View real-time comparison across three options:
* Razorpay: Amount you receive (with zero FX markup).
* Fintech Platforms: Amount after fees.
* Traditional Banks: Amount after bank charges.
**What It Shows:**
* Exact amount you will receive in INR with each option.
* Your savings compared to alternatives.
* Annual savings projection.
**Example:**
For \$10,000 monthly payments:
* **Razorpay**: ₹8,77,700 (Zero FX markup, Free FIRC)
* **Fintech Platforms**: ₹8,21,599 (₹66,101 less)
* **Banks**: ₹8,80,642 (₹7,706 less)
**Handy Tips**
The calculator uses current exchange rates and actual fee structures for accurate comparisons. Check regularly to see your savings.
### Platform Integration
If you are selling on Ecommerce marketplaces or offering services on freelancing platforms, you can connect your Razorpay International Bank Transfer to receive payments directly from these platforms.
International Bank Transfer integrates with:
* Amazon.us (United States) - USD
* Amazon.co.uk (United Kingdom) - GBP
* Amazon EU (European Union) - EUR
* Amazon.com.au (Australia) - AUD
* Amazon DK (Denmark) - DKK
* SWIFT-based Marketplaces - Multiple currencies
* Amazon.ca (Canada) - CAD (Coming soon)
* Amazon.ae (United Arab Emirates) - AED (Coming soon)
* Amazon CH (Switzerland) - CHF (Coming soon)
* Amazon.se (Sweden) - SEK (Coming soon)
* Upwork (Global freelancing job marketplace)
* Deel (Freelance contracts & payouts)
* Toptal (Elite freelance talent network)
* Freelancer (Bid-based freelance jobs platform)
* Fiverr (Freelance services marketplace)
## Unsupported Merchant Categories
International Bank Transfer does not support the following MCCs because of compliance reasons.
## MCC | Description
## 5933 | Pawnbrokers (Pawn Shops)
## 8651 | Political organisations
## 5094 | Precious metals and stones, including diamond traders
## 7995 | Gambling - Betting (including lottery tickets, casino gaming chips, off-track betting and wagers at race tracks)
## 5813 | Alcohol - Drinking Places (Alcoholic Beverages, Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques)
## 5993 | Tobacco (Cigar Stores and Stands)
## 5193 | Seeds or plants (Florists Supplies, Nursery Stock, and Flowers)
## 5966 | Outbound telemarketing (Direct Marketing-Outbound Telemarketing Merchants)
In addition to the above categories, International Bank Transfer does not support businesses in the prohibited industries mentioned in [Razorpay Terms and Conditions (Part 17)](https://razorpay.com/terms).
## Frequently Asked Questions (FAQs)
### 1. I have customers spread across the US, UK and Europe. I want to offer our customers a cheaper, more reliable, and better payment experience. Can I collect payments in USD, GBP or EUR currency?
Yes, you can offer services to your international customers from the US and other countries by providing them with a local currency bank account, and they can pay in their respective currencies.
### 2. How can I transfer money from the local currency bank accounts to my current account with an Indian bank?
The money is settled in your current account in INR currency by Razorpay after deducting the appropriate charges.
### 3. Can I keep funds in these local currency accounts for a month or more for other payouts in foreign currency?
No, you cannot hold the funds in the local currency accounts.
### 4. Do I need to share any bills/invoices with Razorpay?
Yes. You must provide invoices for all the transactions accepted via MoneySaver account. Airway bill is mandatory for the export of physical goods. Our banking partners require this for audit purposes as mandated by RBI. The settlement will not be initiated without a valid invoice copy, airway bill (in case of delivery of physical goods) and buyer's address details.
You should [upload the invoices](/payments/international-payments/international-bank-transfer/transactions-invoices#uploading-invoices-and-business-buyer-details) on the Dashboard to enable Razorpay to settle funds to the Indian bank account.
### 5. Does Razorpay need the buyer's address details along with the invoices?
Yes. You must provide the buyer's address details and invoices for all the transactions accepted via a MoneySaver account. You should [upload the buyer's address details](/payments/dashboard/buyers-address-details) on the Dashboard to enable Razorpay to settle funds to the Indian bank account.
### 6. How can I provide invoices for these payment transactions?
An invoice or airway bill (in case of delivery of physical goods) is mandatory for export transactions. You may [upload invoices](/payments/international-payments/international-bank-transfer/transactions-invoices#uploading-invoices-and-business-buyer-details) to your Dashboard. The payment is settled once you share a valid invoice.
### 7. What is the pricing for using this method?
Please refer to the pricing details mentioned [here](https://razorpay.com/accept-international-payments/bank-transfers/).
### 8. What is the settlement TAT?
The settlement cycle is T+1 from the time the invoice is captured or invoice details are shared against a payment.
### 9. Does Razorpay support multiple settlement currencies for a seller?
Yes, we support INR settlements to your current account in India and non-INR settlements to your EEFC account.
### 10. Will I get FIRS for these transactions for tax purposes?
FIRS will be sent to your contact email within 24 hours after settlement.
### 11. What if my end customer raises a dispute with Razorpay?
Disputes do not apply to these transactions as they are push transactions.
### 12. Are refunds supported on these transactions?
No, refunds are not supported for these transactions.
### 13. What is the payment flow for the consumer/buyer?
The payment flow is given below:
1. The customer receives your virtual bank account details shared by you via email, WhatsApp or invoice.
2. The customer adds your virtual bank account details as a beneficiary in their bank account or online banking portal.
3. The customer initiates a local bank transfer to your account using their preferred payment method.
4. The payment amount reflects on your Razorpay dashboard within a few hours of the customer initiating the transfer.
### Related Information
* [Connect Platforms](/payments/international-payments/international-bank-transfer/connect-platforms)
* [Transactions and Invoices](/payments/international-payments/international-bank-transfer/transactions-invoices)