How Do You Receive USD (US Dollar) Payments in India in 2026?

The table ranks platforms with full published pricing for USD by the INR received on USD 5,000, then lists other business platforms that accept USD, unranked. Fees were checked on 30 Sept 2026 or later.

The real USD to INR rate is the mid-market rate, the midpoint between buy and sell prices. Banks pay a lower TT buying rate, and cards and platforms add their own margin. For example, at an illustrative mid-market rate of Rs 88.00, a rate of Rs 87.12 is a 1 percent markup, or Rs 8,800 less on $10,000.

Today's rate, its history and every platform's payout are on the USD to INR rate page.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹94.75 per USD for 4 Nov 2026.

Yes, you can hold US dollars in India in an EEFC account with an AD bank. Any person resident in India may open one and credit 100 percent of foreign exchange earnings received through normal banking channels. The account earns no interest. Monthly accruals must be converted to rupees by the end of the next month, after approved uses.

• Credits: Export receipts, advance payments for exports and professional earnings such as consultancy fees can be credited, as listed in paragraph 3.1 of the RBI Master Direction on Deposits and Accounts.
• Uses: Balances can pay for permitted current account transactions outside India, such as US software subscriptions, without a second conversion.
• Conversion: Rupee withdrawals are allowed, and the amount withdrawn cannot be put back into the EEFC account.
• Alternative: Without an EEFC account, your AD bank converts the US dollars to rupees when it credits your account. A forward contract can fix the rate in advance for a known export receipt.

• Spot: Your AD bank converts the US dollars at its buying rate on the day it credits your account. This is the default for most receipts, and the rate is the one your bank quotes that day.
• Forward contract: You lock a USD to INR rate today for a future date. Under paragraph 2.4 of the RBI Master Direction on Risk Management, the amount and tenor cannot exceed the underlying export receipt.
• Limit order: Some banks and providers convert automatically when the rate reaches a level you set. It is a service feature, so check whether your bank offers it.
• Natural hedge: Keep US dollars in an EEFC account and use them for US dollar costs, so part of the money never goes through a conversion.

USD export receipts in India follow the FEMA (Export and Import of Goods and Services) Regulations, 2026, in force from 1 October 2026. Service proceeds must be realised within nine months of the invoice date, or twelve months if invoiced or settled in rupees. Your AD bank credits the money and reports it with a purpose code.

• EDF: Service exporters file an Export Declaration Form within 30 days from the end of the invoice month under Regulation 3(2). The EDF replaced SOFTEX for software from 1 October 2026 under A.P. (DIR Series) Circular No. 20.
• EDPMS: Your AD bank closes the EDPMS entry when it credits the money. Invoices up to Rs 10 lakh can be closed on your declaration under Regulation 4(2).
• Purpose code: Each receipt carries a code from the RBI FETERS purpose code list, such as P0802 for "Software consultancy/implementation (other than those covered in SOFTEX form)".
• FIRA: FIRA is a common market name, not a term used in the FEMA regulations. Your bank issues an inward remittance certificate or advice as proof of the receipt.
• GST: A service paid in convertible foreign exchange to a client outside India can be an export of services under IGST Act section 2(6). An LUT under CGST Rule 96A lets a registered exporter supply without paying IGST.

Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are XE live mid-market rates, dated 4 Nov 2026. The method is on the methodology page.

1. Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 - Notification FEMA 23(R)/2026-RB, Reg 3(2) EDF within 30 days from end of invoice month; Reg 4(2) credit after genuineness check, EDPMS closure on declaration up to Rs 10 lakh; Reg 5 nine months, twelve months if invoiced or settled in INR; Reg 6 reduction on declaration up to Rs 10 lakh; Reg 18 FETERS; Reg 19(3) charges reasonable and proportional (checked 8 Oct 2026)
2. RBI A.P. (DIR Series) Circular No. 20 dated 16 January 2026, Supersedes Master Direction on Export of Goods and Services and SOFTEX circulars from 1 October 2026 (checked 8 Oct 2026)
3. RBI Master Direction - Regulation of Payment Aggregators, Para 11(d) PA-CB maximum Rs 25 lakh per transaction; para 11(h) PA-CB provides documents to AD bank for EDPMS closure (checked 8 Oct 2026)
4. RBI Master Direction - Money Transfer Service Scheme, Para 1.1 and 3.4(a): only inward personal remittances such as family maintenance are permitted; trade related remittances are not allowed (checked 8 Oct 2026)
5. RBI Master Direction - Deposits and Accounts (updated 2 September 2026), Para 3.1 EEFC account: 100 percent of foreign exchange earnings, professional earnings, rupee withdrawals not re-credited, non-interest bearing, monthly accruals converted by end of succeeding month (checked 8 Oct 2026)
6. RBI Master Direction - Risk Management and Inter-Bank Dealings (updated 1 October 2026), Para 2.2 products for retail users include foreign exchange forward; para 2.4(i) notional and tenor not to exceed the exposure (checked 8 Oct 2026)
7. RBI A.P. (DIR Series) Circular No. 84 dated 29 February 2012 - Purpose codes for FETERS, Revised purpose code classification for reporting foreign exchange transactions in FETERS (checked 8 Oct 2026)
8. RBI FETERS purpose code list (Annex to A.P. (DIR Series) Circular No. 84), P0802 Software consultancy/implementation (other than those covered in SOFTEX form); P1006 Business and management consultancy and public relations services (checked 8 Oct 2026)
9. IGST Act, 2017 - Section 2 (definitions), Section 2(6) export of services conditions including payment in convertible foreign exchange (checked 8 Oct 2026)
10. CGST Rules, 2017 - Rule 96A, Export of services under bond or Letter of Undertaking without payment of integrated tax (checked 8 Oct 2026)
11. CGST Rules, 2017 - Rule 32, Rule 32(2)(a) value of currency conversion is the difference between the buying or selling rate and the RBI reference rate times units (checked 8 Oct 2026)
12. Federal Reserve - Fedwire Funds Services, Real-time gross settlement; transfers immediate, final and irrevocable once processed (checked 8 Oct 2026)
13. Federal Reserve - FedACH services, ACH is a nationwide network through which depository institutions send batches of electronic credit and debit transfers (checked 8 Oct 2026)
14. IRS - About Form W-8 BEN, Give Form W-8 BEN to the withholding agent or payer if you are a foreign person and the beneficial owner of an amount subject to withholding; submit when requested; form title: Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) (checked 8 Oct 2026)
15. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
16. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
17. Kotak Everyday Savings Account fees and charges, Foreign Inward Remittance certificate (Branch Request) INR 100/Request; GST on Foreign Currency Conversion; fees exclusive of GST (checked 6 Oct 2026)
18. HDFC Bank: Remittance Services Fees & Charges, Inward Remittance Charge: No Charge; FIRC Charge for Inward Remittance & FCY Cheque Collection INR 200 per FIRC; GST slabs on amount of currency exchanged (checked 6 Oct 2026)
19. Wise India: Fees for receiving money (Business), Conversion fee depends on the currency; eFIRC for every transfer; GST 18% of (conversion fee + eFIRC fee); calculator (checked 6 Oct 2026)
20. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
21. PayPal India Merchant Fees, Receiving international transactions; Currency Conversions (3.0% converting balance and payments received; 4.00% all other cases); Withdrawals Out of PayPal; Dispute Fees; Other Fees (Last Updated 28 March 2024) (checked 6 Oct 2026)
22. Airwallex Help: Eligible Countries and Territories, INDIA IN - AWX Legal Entity SINGAPORE (checked 7 Oct 2026)