How Do You Share Bank Details with Foreign Clients Safely?
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
- Published:
- Last modified:
Short answer
To share bank details with foreign clients safely, send only the inward remittance details your AD bank issues: account name, account number, bank name and address, and the SWIFT or BIC code. Share them once, in writing, through a channel the client already trusts. Confirm any later change by phone before the client pays.
| Applies to | Governed by | Deadline | Penalty | Last verified |
|---|---|---|---|---|
| Indian residents who receive payment from clients outside India for exported goods or services, including freelancers, consultants and companies | Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 and Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, with each AD bank's own instructions | No deadline for sharing details. Report an unauthorised electronic debit to your bank within three working days to keep zero liability where the fault lies elsewhere | Not applicable to sharing details. Payments sent to a wrong or fake account may not be recoverable, and unrealised export value can lead to follow-up from your AD bank | 9 Oct 2026 |
What bank details does a foreign client need to pay an Indian exporter?
A foreign client needs the details that let a bank outside India route money to your account with an authorised bank in India. In practice these are your name as it appears on the account, the account number, the bank's name and address, and the bank's SWIFT or BIC code.
- Legal route: Payments for exports from countries outside Nepal, Bhutan and the ACU mechanism can be received in Indian Rupees or in any foreign currency, through authorised banks or authorised persons (Manner of Receipt and Payment Regulations, Regulation 3(2)(I)). Your bank details must therefore point to an account with an authorised bank in India.
- Account name: Give the name exactly as the bank holds it. A mismatch between the name the client types and the name on the account is a common reason for a payment to be held or sent back. See why banks return inward remittances.
- SWIFT or BIC: A Business Identifier Code (BIC) identifies a financial institution and has eight or eleven characters: a four-character institution code, a two-character country code, a two-character location code and an optional three-character branch code (ECB glossary, BIC). See what a SWIFT code is.
- IFSC: An IFSC is an 11-character code that identifies a bank branch in NEFT, used to route domestic transfers (RBI NEFT FAQ, Q4). A client abroad usually needs the SWIFT or BIC code, though some bank instructions also list the IFSC for the final credit in India.
- IBAN: An IBAN is an ISO code that identifies an individual account at a specific financial institution in a particular country (ECB glossary, IBAN). If a client's payment form insists on an IBAN, ask your AD bank what to enter. See what an IBAN is.
The safest source for these details is the written inward remittance instruction your own bank provides. Copying details from an old invoice or an email thread risks passing on an outdated code or a typing error.
Who needs to share bank details for international payments from India?
Any resident in India who is paid by a person outside India for goods or services needs to share bank details with that payer. The details and the extra care needed differ slightly between a freelancer with one bank account and a company with several accounts and staff handling invoices.
| Who | Details usually shared | Main safety risk | Best for |
|---|---|---|---|
| Freelancer with a savings or current account | Account name, account number, bank name and address, SWIFT or BIC | Email account takeover that lets a fraudster send new details to clients | Writers, designers, developers and consultants paid by direct bank transfer; see savings vs current account |
| Company or firm exporting services | Same details on the invoice, plus the company's legal name as held by the bank | Several staff can send invoices, so a fake change request is harder to spot | IT, SaaS and consulting firms with a finance team |
| Exporter holding an EEFC account | EEFC account details if the bank allows direct credit to it | Clients paying the wrong account because two sets of details are in circulation | Exporters who keep foreign currency; see EEFC account |
| Exporter whose client pays through a parent company or agent | Same details, with the invoice naming the actual client | The payer differs from the invoiced client, so the bank may ask questions | Group billing arrangements; see third-party payments for exports |
How do you share bank details with a foreign client safely?
You share bank details with a foreign client safely by taking them from your bank, sending them once through a trusted channel, and agreeing in advance how any change will be confirmed. Most payment fraud against exporters works by persuading a client to pay a different account, so the confirmation step matters most.
- Ask your AD bank for its written instructions for receiving foreign currency payments into your account. Use these as the only source of your details.
- Check the beneficiary name, account number and SWIFT or BIC code against your account statement or bank letter before you send them.
- Put the details on your invoice or in a signed contract schedule, and send them through a channel the client already uses with you, such as the client's own vendor portal or an email thread you started.
- Agree with the client, in writing, that you will never change bank details by email alone and that any change will be confirmed by a phone or video call on a number already on file.
- Ask the client to share the payment reference once paid, so you can trace the transfer with your bank if it does not arrive.
- Give your bank the invoice and purpose code when it asks, so the payment is credited without delay. See purpose codes for freelancers.
- Check your account and keep the bank's remittance advice or certificate for each payment. See FIRC vs FIRA vs e-BRC.
Which bank details should an Indian exporter never share with a foreign client?
An Indian exporter should never share net banking passwords, OTPs, debit card numbers, CVVs or PINs with a foreign client. Receiving a payment needs only the details that identify the account, and no genuine client needs anything that allows money to be taken out of it.
- Login IDs and passwords for internet or mobile banking
- One-time passwords sent to your phone or email
- Debit or credit card numbers, expiry dates, CVVs and PINs
- Scans of a cheque book or blank signed documents
How do you confirm a request to change bank details for an international payment?
You confirm a request to change bank details by calling the other party on a number you already hold, never one given in the request. This applies both ways: when a client receives a message saying your account has changed, and when you receive a message about the client's payment process.
- Treat urgency, a new email address, or a reply-to address that differs from the sender as warning signs
- Check a suspicious account number, email or phone number against the I4C suspect repository on the National Cyber Crime Reporting Portal
- Read more on payment fraud scams targeting Indian exporters
Why do some bank instructions list an intermediary bank for international payments to India?
Some bank instructions list an intermediary or correspondent bank because a payment in certain currencies passes through another bank before it reaches your bank in India. Enter it only if your own bank's instructions include it, and expect that it may deduct a fee from the amount.
Which bank details go on an invoice for an international payment to India?
An invoice for an international payment to India should carry the details your AD bank tells foreign payers to use, written exactly as the bank gives them. The table below lists the usual fields, what each does, and where to check it.
| Field | What it does | Where to check it | Best for |
|---|---|---|---|
| Beneficiary name | Names the account holder who receives the payment | Account statement or bank letter | Every invoice |
| Account number | Identifies your account at the bank | Account statement or passbook | Every invoice |
| Bank name and address | Tells the paying bank which bank and branch hold the account | Your bank's inward remittance instructions | Every invoice |
| SWIFT or BIC code | Identifies the receiving bank to the international network; eight or eleven characters (ECB glossary) | Your bank's inward remittance instructions | Wire transfers from any country |
| IFSC | Identifies the branch inside India's NEFT system (RBI NEFT FAQ, Q4) | Cheque book or RBI's IFSC list | Only where your bank's instructions ask for it |
| Intermediary bank | Routes certain currencies before they reach your bank | Your bank's inward remittance instructions | Only where your bank lists one for that currency |
| Invoice number and description | Lets your bank match the receipt to a genuine export | Your own invoice records | Faster credit and correct purpose code |
What happens if bank details for an international payment are wrong or misused?
If bank details are wrong, the payment can be held, returned with charges, or credited to someone else. If they are misused through a fake change request, the client may pay a fraudster's account, and recovering the money depends on how quickly the banks and police are told.
- Returned payment: A wrong name, code or account number can cause the payment to bounce back to the client, usually with fees taken on the way. See why banks return inward remittances.
- Held payment: Your AD bank credits an export receipt only after it is satisfied the transaction is genuine (Export and Import Regulations, 2026, Regulation 4(2)). Unclear payer or invoice details can delay the credit. See bank asking for an invoice.
- Third-party payer: Receipts from someone other than the client are allowed only if the AD bank is satisfied with the bona fides (Regulation 8). A payment from an unexpected sender can trigger extra checks.
- Doubtful transaction: RBI directs AD banks to inform any doubtful transaction to the Directorate of Enforcement (A.P. (DIR Series) Circular No. 20, para 3).
- Unrealised value: If the client pays a fraudster, your invoice stays unpaid. Export value must be realised within nine months of the invoice date for services, or twelve months if invoiced or settled in rupees, and the AD bank may extend this (Regulation 5). See export realisation period.
If a payment went to a wrong or fake account, tell your bank and the client's bank at once, report it on the national cyber fraud helpline 1930 or the National Cyber Crime Reporting Portal (I4C, NCRP and CFCFRMS), and tell your AD bank in writing why the export value is delayed so it can consider an extension.
What is the timeline for sharing bank details and acting on payment problems for an international payment?
The timeline for sharing bank details and acting on payment problems starts before the first invoice and runs until the money is realised. RBI sets fixed times for reporting unauthorised debits, filing the service EDF, realising export value and escalating a complaint against a bank.
| Trigger event | Due date | Filed where | Best for |
|---|---|---|---|
| New client onboarded | Before the first invoice: share details once and agree how changes will be confirmed | Invoice, contract or client vendor portal | All exporters and freelancers |
| Service invoice raised | EDF within 30 days from the end of the invoice month (Regulation 3(2)) | With your AD bank; see EDF form for exports | Service and software exporters |
| Payment due from the client for services | Within nine months of the invoice date, or twelve months if invoiced or settled in rupees (Regulation 5) | Credited through your AD bank | Exporters tracking unpaid invoices |
| Unauthorised electronic debit after a third-party breach | Within three working days of the bank's alert for zero liability (RBI circular RBI/2017-18/15, para 6) | Your bank's 24x7 reporting channel | Anyone whose banking credentials were exposed |
| Payment sent to a fake account | As soon as it is discovered | Helpline 1930 or cybercrime.gov.in (I4C), and both banks | Exporters and clients hit by a fake change request |
| No reply from your bank to a complaint | After 30 days, and within 90 days of that period ending or the bank's last reply (RB-IOS 2026 FAQ, Q17) | RBI Ombudsman at cms.rbi.org.in | Exporters unhappy with how a bank handled the issue |
What mistakes do Indian exporters make when sharing bank details for international payments?
- Retyped details: Typing the account number or SWIFT code by hand into each invoice invites errors. Copy the details from your bank's written instructions into an invoice template and check them once.
- Using the IFSC alone: Giving a foreign client only an IFSC can leave the paying bank without the code it needs. Give the SWIFT or BIC code from your bank's instructions.
- Name mismatch: Using a trading name or a shortened name that differs from the account name can cause a payment to be held or returned.
- Email-only changes: Accepting or sending a change of bank details by email alone is the gap most payment diversion frauds use. Always confirm by a call on a known number.
- Oversharing: Sending a full bank statement, cheque scan or login details to a client exposes more than a payment needs. Share only the remittance fields.
- Several accounts: Keeping old account details on old invoices or templates leads clients to pay a closed or unintended account. Tell clients in writing when you stop using an account.
How did we verify this?
Every rule, deadline and form on this page is linked to its official source, checked on the dates below.
- Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Notification FEMA 14(R)/2023-RB, amended up to 12 February 2025, Regulation 3(1) and 3(2)(I) (checked 9 Oct 2026)
- Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification FEMA 23(R)/2026-RB, amended up to 22 September 2026, Regulations 3(2), 4(1), 4(2), 5 and 8 (checked 9 Oct 2026)
- RBI A.P. (DIR Series) Circular No. 20, RBI/2025-26/194, 16 January 2026: Export and Import of Goods and Services, Paragraph 3 (checked 9 Oct 2026)
- European Central Bank glossary: Business Identifier Code (BIC), Entry: Business Identifier Code (BIC) (checked 9 Oct 2026)
- European Central Bank glossary: International Bank Account Number (IBAN), Entry: International Bank Account Number (IBAN) (checked 9 Oct 2026)
- RBI FAQ: National Electronic Funds Transfer (NEFT) System, Q4 (IFSC) and Q5 (checked 9 Oct 2026)
- RBI circular RBI/2017-18/15, 6 July 2017: Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions, Paragraphs 5 and 6 (checked 9 Oct 2026)
- RBI FAQ: Exchange Earners' Foreign Currency (EEFC) Account (updated 5 July 2016), Q1 (checked 9 Oct 2026)
- Indian Cybercrime Coordination Centre (I4C), Ministry of Home Affairs: National Cyber Crime Reporting Portal and Citizen Financial Cyber Fraud Reporting and Management System, Helpline 1930 and CFCFRMS (checked 9 Oct 2026)
- National Cyber Crime Reporting Portal, Ministry of Home Affairs, Suspect Repository (search of account numbers, emails, phone numbers) (checked 9 Oct 2026)
- RBI, Frequently Asked Questions, Reserve Bank - Integrated Ombudsman Scheme, 2026, Q1 and Q17 (checked 9 Oct 2026)
Frequently asked questions
Is it safe to put a SWIFT code and account number on an invoice to a foreign client?
Putting a SWIFT code and account number on an invoice is the normal way to get paid by wire transfer. These details only identify the account where money should be credited. The real risk is a fraudster sending your client a fake invoice with different details, so agree how changes will be confirmed.
Do Indian freelancers need an IFSC code to receive an international payment?
An Indian freelancer usually needs to give a foreign client the bank's SWIFT or BIC code, because the IFSC identifies a branch inside India's NEFT system. Some banks' inward remittance instructions also ask for the IFSC. Use exactly the fields your own bank lists for receiving foreign payments.
What should an exporter do if a client's payment form asks for an IBAN for an Indian bank account?
If a client's payment form asks for an IBAN for an Indian bank account, ask your AD bank what to enter. An IBAN identifies an individual account at a specific institution in a particular country. Your bank's inward remittance instructions show which identifiers a foreign payer should use for your account.
Can a foreign client pay an Indian exporter's EEFC account directly?
An EEFC account is a foreign currency account with an AD Category-I bank that resident foreign exchange earners may open (RBI EEFC FAQ, Q1). Whether a client can pay it directly depends on your bank's instructions. Ask the bank which account details to give for credit to EEFC.
Which number should be called to report a payment diverted by a fake bank details email?
A payment diverted by a fake bank details email can be reported on the national cyber fraud helpline 1930 or the National Cyber Crime Reporting Portal (I4C). Also tell your bank and ask the client to tell its bank at once, since speed improves the chance of stopping the funds.
Does sharing a beneficiary account number with a foreign client risk unauthorised debits?
Sharing a beneficiary account number alone does not let a person debit the account. Unauthorised debits need credentials such as passwords, OTPs or card data. If one happens after a third-party breach, reporting it within three working days keeps customer liability at zero (RBI/2017-18/15, para 6).
Can an Indian exporter ask a foreign client to pay a relative's bank account in India?
An Indian exporter should have export payments credited to the exporter's own account, because the AD bank credits an export receipt only after it is satisfied the transaction is genuine (Regulation 4(2)). A relative's account would not match your invoice, and the bank may question the payment.