What are the best banks for receiving international payments in India?

Every inward remittance to India, whether it comes as a direct SWIFT wire or is paid out by a platform, ends in an Indian bank account. For exporters who take wires directly, such as an architect paid by a Canadian developer or an IT firm paid by a European client, the bank's charges and exchange rate are the main costs. This page lists what five large banks publish, in alphabetical order, and explains what else to compare.

What are the best banks for receiving international payments in India?

The best bank for receiving international payments in India depends on how many receipts you take, how large they are and whether you need a certificate for each, because banks publish different charge structures.¹²³ No bank publishes its exchange margin as a percentage on the pages checked, so a full cost ranking is not possible.¹²

• Many receipts, few certificates: HDFC Bank lists no inward remittance charge but ₹200 per FIRC.¹
• Fewer, larger receipts: SBI and Axis Bank list a flat per-transaction inward fee.²³
• Already a customer: ICICI Bank and Kotak Mahindra Bank do not publish these charges on the pages checked, so ask the branch.⁵⁶

Business and current accounts may carry different charges from savings accounts, and banks can negotiate charges for regular exporters.

Which banks rank highest for international payments in India?

Banks cannot be ranked on cost for international payments in India, because the exchange rate is usually the largest cost and none of the five banks publishes its margin.¹²³⁵⁶ The banks below are therefore listed A to Z, with what each publishes.

1. Axis Bank: ₹250 inward wire processing fee on savings and salary accounts.³
2. HDFC Bank: no inward remittance charge; ₹200 per FIRC.¹
3. ICICI Bank: charges not published on the pages checked.⁵
4. Kotak Mahindra Bank: charges not published on the pages checked.⁶
5. State Bank of India: ₹50 plus GST per retail inward remittance.²

Platforms that receive on your behalf are compared in bank wire vs payment platform.

How do the best banks for international payments compare?

The table shows each bank's published inward remittance and FIRC charges, as found on the bank's own pages on 28 October 2026.¹²³⁵⁶ "Not published on the pages checked" means the charge was not found on the page listed in the sources, not that the bank charges nothing.

Ask your branch for the schedule that applies to your account.

How do bank fees change with invoice size?

Bank fees change with invoice size because the inward fee is flat while GST on currency conversion rises with the amount.¹²³ A flat ₹250 or ₹50 fee is a smaller share of a large receipt than of a small one.²³

• GST on conversion: HDFC Bank publishes the slab: 0.18% of the amount exchanged up to ₹1 lakh (minimum ₹45, maximum ₹180), ₹180 plus 0.09% between ₹1 lakh and ₹10 lakh, and ₹990 plus 0.018% above ₹10 lakh, up to ₹10,800.¹
• Return charges: SBI publishes return charges where a remittance message is not in order and no clarification arrives from the remitting bank within 10 working days, for example USD 50, GBP 40 or EUR 45.²
• Intermediary banks: intermediary banks may also deduct fees before a wire arrives, which no Indian bank controls.⁷ See intermediary bank charges.
• Exchange rate: for any bank, the exchange rate usually costs more than the fixed fees on a large receipt.¹²

For example, a tutor receiving a few hundred dollars a month may care most about the FIRC fee, while a software company with large annual invoices may care most about the exchange rate. Exporters with regular volumes can ask for a negotiated rate; see negotiating FX rates with your bank.

What does each of the best banks for international payments offer?

Each bank below is described on the same points: what it publishes, what that structure suits and what it leaves unpublished.¹²³⁵⁶

Is Axis Bank a good choice for Indian exporters?

Best for: fewer, larger receipts.³

Axis Bank publishes a flat fee for inward wires on its savings and salary account fees page.³

• Key features: ₹250 "Inward Wire Transfer - Processing Fees".³
• Pros: a flat fee is a small share of a large receipt.³
• Cons: no FIRC charge is published on the page checked, and business accounts may differ.³
• Verdict: Axis Bank suits exporters with fewer, larger receipts who confirm the current account schedule with the branch.³

Is HDFC Bank a good choice for Indian exporters?

Best for: many receipts, with certificates needed for only some of them.¹

HDFC Bank publishes its inward remittance, FIRC and GST charges on one forex services page.¹

• Key features: "No Charge" for inward remittances; ₹200 per FIRC plus applicable taxes.¹
• Pros: the GST slab on conversion is published in full.¹
• Cons: each FIRC carries a fee, and the exchange margin is not published.¹
• Verdict: HDFC Bank suits exporters who receive many payments but need certificates only for some.¹

Is ICICI Bank a good choice for Indian exporters?

Best for: existing customers who can ask the branch for their schedule.⁵

ICICI Bank's service charges and fees page did not show inward remittance or FIRC charges when checked.⁵

• Key features: not published on the pages checked.⁵
• Pros: existing customers can ask for the schedule for their account type.
• Cons: costs cannot be compared from published pages.⁵
• Verdict: ICICI Bank suits exporters who already bank there and confirm charges with the branch.⁵

Is Kotak Mahindra Bank a good choice for Indian exporters?

Best for: existing customers who can ask the branch for their schedule.⁶

Kotak Mahindra Bank's general schedule of fees and charges page did not show inward remittance or FIRC charges when checked.⁶

• Key features: not published on the pages checked.⁶
• Pros: existing customers can ask for the schedule for their account type.
• Cons: costs cannot be compared from published pages.⁶
• Verdict: Kotak Mahindra Bank suits exporters who already bank there and confirm charges with the branch.⁶

Is State Bank of India a good choice for Indian exporters?

Best for: fewer, larger receipts.²

State Bank of India publishes its retail inward remittance charges in a dated PDF.²

• Key features: ₹50 plus GST per retail inward remittance transaction, as on 2 June 2026.²
• Pros: return charges are published, for example USD 50, GBP 40 or EUR 45.²
• Cons: no FIRC charge is published in the document checked.²
• Verdict: State Bank of India suits exporters with fewer, larger receipts who confirm the FIRC charge with the branch.²

How did we evaluate these banks for international payments?

We evaluated each bank only on what it publishes on its own pages, checked on 28 October 2026, and on the same six points for every bank.¹²³⁵⁶

Banks and payment platforms differ mainly in who converts the money and how the client pays. A platform may give your client a local account abroad and pay you INR; a bank receives the SWIFT wire directly. Platforms that are RBI-authorised cross-border aggregators are capped at ₹25 lakh per export transaction, which a direct bank wire is not subject to.⁸

What compliance do Indian exporters need to handle with their bank?

Indian exporters handle export realisation, the EDF and the e-BRC through their AD bank, because the bank holds the export record.⁴⁹¹⁰

• Realisation: under the FEMA (Export and Import of Goods and Services) Regulations, 2026, payment for services must be realised within nine months of the invoice date, or twelve months for invoices in Indian rupees.⁹
• Extensions and set-off: the AD bank can extend the realisation period, allow a reduction in invoice value, and allow set-off against payables.⁴
• e-BRC: the bank reports each inward remittance, and exporters now self-generate the e-BRC on the DGFT portal from the bank's inward remittance message (IRM) data.¹⁰

Responsiveness matters as much as price. Ask prospective banks how they handle export documentation for services, and whether a relationship manager covers it; see what an AD bank is. Confirm FEMA reporting, EEFC and GST questions for your situation with your bank and a chartered accountant.