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PayPal, Wise or Payoneer: What FIRC and GST Rules Mean for SEO Agencies Getting Paid from Abroad

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Editorial team, serviceexportguide.com
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Short answer

Remote SEO work for a client outside India is an export when all five section 2(6) IGST Act conditions are met.11 A registered agency files an LUT and invoices without IGST.15 PayPal, Wise and Payoneer each publish a free digital FIRA or e-FIRC in 2026 (Wise's on its India receive pricing page; its India help article gives a 2 USD equivalent fee per transfer to the INR account).31363940 From 1 October 2026 every service exporter files an Export Declaration Form.1

Applies toRules involvedPlatforms comparedLast verified
Indian SEO agencies billing clients outside India in foreign currency11IGST Act sections 2(6), 13(2) and 16; CGST rule 96A; FEMA Export and Import Regulations, 2026; RBI PA Master Direction1411121314Razorpay, Karbon Business, Skydo, Payoneer, PayPal, Wise21232629343931 October 2026

1,000 USD = ₹94,243 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#Provider and routeBest forFee (+GST)MarkupYou receiveCost
1Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹942plus GST, rate not stated0%₹93,131 to ₹93,3011.00 to 1.18%
2RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,000plus GST, rate not stated0%₹93,063 to ₹93,2431.06 to 1.25%
3WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,4350%₹92,8091.52%
4SkydoPayment link (InstaLinks) paid by ACH debitLocal bank transfers from major markets₹1,885plus GST, rate not stated0%₹92,019 to ₹92,3582.00 to 2.36%
5PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹90,473 to ₹93,3011.00 to 4.00%
6PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹4,175no GST stated3 to 4%₹86,465 to ₹87,3667.30 to 8.25%

Not estimated because pricing is not fully published: Cashfree Payments, Dodo Payments, PingPong, Stripe, Tazapay, TransFi, Wise.

Where a provider says GST applies to its fee but not at what rate, the range runs from no GST to 18%, the rate Skydo, Stripe and Winvesta state on their pages. Estimates use each provider's published fee, conversion markup, GST on fees and FIRA charge, checked 2026-10-28, against the reference rate. They exclude charges taken by intermediary banks and your own bank, and the rate a provider actually applies at the time of conversion. Check the provider's pricing page before you choose. The order is calculated only from these published numbers; no provider can pay to change its position, and there are no affiliate links.

An SEO agency in Pune running technical audits for a Texas retailer, or a Kochi team building links for a London agency, gets paid in dollars or pounds and has to turn each payment into rupees with the right paperwork. PayPal, Wise and Payoneer are the names most agencies compare first, but the GST and RBI rules apply the same way whichever one the client pays through.111

This page compares those three with the lowest-cost providers on published fees, then sets out the rules, purpose codes and documents. Freelancers should also read international payments for SEO specialists. Your facts decide the answer, so confirm your set-up with a chartered accountant (CA).

How do PayPal, Wise and Payoneer compare for SEO agencies in India?

PayPal, Wise and Payoneer differ most on fees and FX: PayPal publishes 4.40% plus a fixed fee and a 3.0% or 4.00% conversion spread, Payoneer publishes a 1% to 4% INR withdrawal fee, and Wise publishes a 2 USD equivalent fee per INR transfer (India help article; its India receive pricing page describes a free e-FIRC) without an INR conversion percentage.29343940 Razorpay, Karbon Business and Skydo are the three lowest-cost providers for a $2,000 USD receipt in this site's ranking of published fees.212426

The table is sorted by estimated cost on a $2,000 USD receipt, cheapest first; Wise follows because it publishes no INR conversion percentage.40

PlatformBest forFeeFX markupSettlementFIRARBI PA-CB statusSource
RazorpayLocal transfers from the US, UK and eurozoneMoneySaver bank transfer 1%, flat ₹1,000 below ₹1,00,000; GST applies0% on MoneySaver transfersT+1 for push bank transfersFIRS emailed within 24 hours of settlementAuthorised PA-CB, inward and outward52122
Karbon BusinessUS bank transfers and marketplace payouts1% transaction fee listed on its PayPal comparison page0% (freelancer page); 0.5% to 1.0% (PayPal alternative page)24 to 48 hoursFIRA for every transaction from an unnamed partner bankNot on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB5232425
SkydoLocal bank transfers from major marketsUSD 19 + GST up to USD 2,000; USD 29 + GST to USD 10,000; 0.3% + GST above0% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)Within 24 hours (product page); T+1 to T+3 business days (terms)Free FIRA on every paymentAuthorised PA-CB, inward and outward, 8 January 2026526272844
PayoneerMarketplace payouts such as Amazon or UpworkFree to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page); card payment request 2.90% + $0.49INR withdrawal 1% to 4%, shown in the accountWithin 24 hours (multi-currency account page); within 48 hours (pricing page)Free digital FIRA per transaction from a partner AD bankIn-principle PA-CB authorisation 22 January 2026; not on RBI's authorised list of 16 October 202662930313233
PayPalClients paying by card or PayPal balance4.40% plus a fixed fee, for example 0.30 USD3.0% or 4.00% above the base rateUp to 5 business days to the bankFree weekly digital FIRA from February 2026In-principle authorisation as an existing PA-CB; not on RBI's authorised list of 16 October 2026634353637
WiseBank transfers to local account detailsEquivalent of 2 USD per transfer to the INR account (help article); free e-FIRC (receive pricing page); 18% GST on Wise feesMid-market rate plus a currency-dependent fee; no INR percentage publishedINR in 1 to 2 days after Wise receives fundse-FIRC per transfer within 3 working daysAuthorised PA-CB, inward, 12 March 20265394041

For a white-label retainer from a foreign agency, local account details usually matter more than card acceptance; for one-off audits paid by card, Wise does not offer card acceptance to India-based businesses, while PayPal buyers can pay by card.3543

Which RBI and GST rules apply to SEO agencies paid from abroad?

SEO agencies paid from abroad follow the IGST Act's export rules for GST and the FEMA (Export and Import of Goods and Services) Regulations, 2026 (the 2026 Regulations) for the money itself.111 The rules apply whether the client pays by wire, PayPal, Wise or Payoneer.14

RuleBest for (who it applies to)Plain meaningSource
IGST Act section 2(6)Every agency billing a client outside IndiaExport needs a supplier in India, a recipient abroad, place of supply abroad, payment in convertible foreign exchange (or INR where RBI permits), and the two not being establishments of one person11
IGST Act section 13(2)Remote SEO, content and link-building workPlace of supply is the recipient's location by default12
IGST Act section 16 and FORM GST RFD-11GST-registered agenciesExports are zero-rated; an LUT lets the agency invoice without IGST for the financial year131516
CGST rule 96A(1)(b)Agencies exporting under an LUTIGST with interest is due if payment is not received within one year of invoice or the FEMA period, whichever is later14
2026 Regulations, regulation 5Every service exporterRealise each invoice within nine months; twelve months if invoiced in rupees12
2026 Regulations, regulations 3 and 4Every service exporter from 1 October 2026File an EDF within 30 days from the end of the invoice month, or by the payment date for non-software services1
PA Master Direction, paragraph 11(d)Agencies paid through a PA-CBMaximum ₹25 lakh per transaction4

An agency that buys guest posts for a client and bills them at cost should agree the treatment with its CA, because reimbursements and resold placements can be invoiced differently.

Which purpose code applies to an SEO agency?

An SEO agency's receipts usually fit P1007, "Advertising, trade fair service", when SEO is sold as a marketing service.89 RBI introduced the current receipt codes through A.P. (DIR Series) Circular No. 84 of 29 February 2012.7 P0807 is "Off-site Software Exports" in the RBI list, so it does not describe business support or SEO retainers.89

CodeBest for (transaction type)Official RBI descriptionSource
P1007Ongoing SEO retainers, link building and content optimisation sold as marketingAdvertising, trade fair service89
P1006SEO strategy consulting and digital PRBusiness and management consultancy and public relations services89
P1016Keyword and audience research sold as researchMarket research and public opinion polling service89
P0802Website builds, migrations and technical implementationSoftware consultancy/implementation (other than those covered in SOFTEX form)89

PayPal asks for one purpose code at account set-up, and Payoneer applies the code chosen in settings to every payment and prints it on each FIRA.3138 See purpose code for digital marketing services for edge cases.

Which option is cheapest for an SEO agency at $500, $2,000 and $5,000?

At $2,000 and $5,000 the cheapest options on published fees are the local bank transfer providers, and PayPal is the most expensive of those with full published pricing.212634 The table below calculates rupees received at today's rate from each provider's published fees.

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
SkydoMost INRTransfer to Skydo local account details or international SWIFT accountLocal bank transfers from major markets₹1,86,373₹4,67,991₹9,39,2060.68%
Karbon BusinessBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹1,86,262 to ₹1,86,601₹4,65,655 to ₹4,66,503₹9,31,311 to ₹9,33,0071.00 to 1.18%
RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,86,262 to ₹1,86,601₹4,65,655 to ₹4,66,503₹9,31,311 to ₹9,33,0071.00 to 1.18%
PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹1,80,947 to ₹1,86,601₹4,52,367 to ₹4,66,503₹9,04,734 to ₹9,33,0071.00 to 4.00%
PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹1,72,958 to ₹1,74,760₹4,32,436 to ₹4,36,940₹8,64,899 to ₹8,73,9087.27 to 8.23%

Not estimated because pricing for USD is not fully published: Wise.

Ranked by INR received on USD 5,000. Reference rate: European Central Bank data for 13 November 2026. Fees, conversion markup, GST on fees and FIRA charges as published by each provider, checked 28 October 2026. Ranges appear where a provider publishes a range or does not state its GST rate. Intermediary bank charges are excluded. See the methodology.

For example, Skydo's USD 19 fee is 0.95% of a $2,000 invoice before GST, and its USD 29 fee is 0.58% of a $5,000 invoice.26 On a $500 invoice the same USD 19 is 3.8% before GST, and Razorpay's flat ₹1,000 fee below ₹1,00,000 also weighs more on small invoices.2126 PayPal's 4.40% plus 0.30 USD on $2,000 comes to 4.415% before the 3.0% or 4.00% conversion spread.34

Small audit invoices therefore cost more in percentage terms than monthly retainers on every flat-fee route.

What documents follow each payment to an SEO agency?

Each export payment to an SEO agency should leave a FIRA or equivalent, an e-BRC, an EDF and an invoice issued under the agency's LUT.141015 The PA-CB must give the AD bank the documents or information the exporter needs, so the export entry can be closed.4

DocumentBest forWho issues it and whenSource
FIRA or e-FIRCProof that foreign money was creditedPayPal weekly, Payoneer per transaction, Wise per transfer, Skydo per payment28313639
e-BRCGST refund and export incentive recordsSelf-generated by the exporter on the DGFT portal from the bank's inward remittance message10
EDFEvery invoice from 1 October 2026Exporter files with the AD bank within 30 days from the end of the invoice month1
LUTGST-registered agencies invoicing without IGSTFiled by the agency in FORM GST RFD-11 for each financial year1516

Read FIRC vs FIRA vs e-BRC and EDF for service exporters for the detail. How the EDF works for PayPal and PA-CB receipts in practice is not yet clear from the regulations, so ask your bank.

What changes in 2026 for SEO agencies paid from abroad?

The biggest 2026 change for SEO agencies is the 2026 Regulations, in force from 1 October 2026, which replaced the 2015 export regulations and extended the EDF to every service exporter.13

  • Realisation period: Nine months from the invoice date from 1 October 2026, twelve months for rupee invoices.2
  • Payment aggregators: Skydo was authorised as a PA-CB on 8 January 2026 and Wise on 12 March 2026, while Payoneer received in-principle authorisation on 22 January 2026.533
  • FIRA: PayPal began issuing a free weekly digital FIRA in February 2026.36
  • Income tax: The Income-tax Act, 2025 applies from 1 April 2026, and tax year 2026-27 runs from 1 April 2026 to 31 March 2027.20
  • Intermediary rule: Section 13(8)(b) of the IGST Act was omitted from 30 March 2026, which changes the place of supply rule for intermediary services such as referral commission.18
  • GST Council: The 57th meeting on 8 October 2026 recommended omitting condition (v) of section 2(6); it is a recommendation only.19

Unpaid invoices raised before 1 October 2026 are a grey area, so check with your bank how they are tracked.1

How did we verify this?

We checked this page against the sources below on 31 October 2026. Provider fees, conversion markups and RBI payment aggregator (PA-CB) status were checked on 28 October 2026. Rupee amounts use European Central Bank reference rates for 13 November 2026. Read our methodology or report an error.

  1. [1]RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, FEMA 23(R)/2026-RB, amended up to 22 September 2026, regulations 2, 3, 4, 5 and 19
  2. [2]RBI: Notification FEMA 23(R)/(1)/2026-RB dated 22 September 2026, amending regulation 5 (realisation period)
  3. [3]RBI: Press release on the FEMA (Export and Import of Goods and Services) Regulations, 2026 and Directions, 16 January 2026
  4. [4]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraphs 11(d), 11(h) and 19 (checked 2026-10-31)
  5. [5]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list dated 16 October 2026 (checked 2026-10-28)
  6. [6]RBI: Status of Applications received under the Payment and Settlement Systems Act, 2007, as on 16.10.2026 (checked 2026-10-28)
  7. [7]RBI: A.P. (DIR Series) Circular No. 84 dated 29 February 2012, Compilation of R-Returns: Reporting under FETERS (revised purpose codes)
  8. [8]HDFC Bank: Inward Remittance Purpose Codes (bank reproduction of the RBI list, checked 2026-10-28)
  9. [9]DGFT: Purpose Code and SAC Code Mapping, Version 1.0, 10 November 2023 (reproduces RBI receipt code descriptions)
  10. [10]DGFT: eBRC system, self-certification of eBRC from bank inward remittance messages (IRMs), Trade Notice 33/2023-24 dated 10 November 2023
  11. [11]CBIC: IGST Act, 2017, section 2(6) (export of services)
  12. [12]CBIC: IGST Act, 2017, section 13 (place of supply where supplier or recipient is outside India)
  13. [13]CBIC: IGST Act, 2017, section 16 (zero-rated supply)
  14. [14]CBIC: CGST Rules, 2017, rule 96A (export under bond or Letter of Undertaking), clause (1)(b) as substituted by Notification No. 12/2024-Central Tax, 10 July 2024
  15. [15]GST portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)
  16. [16]CBIC: Circular No. 40/14/2018-GST (LUT deemed accepted on acknowledgement)
  17. [17]CBIC: CGST Rules, 2017, rule 46 (tax invoice, export endorsement)
  18. [18]Finance Act, 2026, section 157 (omission of section 13(8)(b) of the IGST Act from 30 March 2026), Gazette of India
  19. [19]GST Council: Press release, 57th meeting, 8 October 2026
  20. [20]PIB: Income-tax Act, 2025 comes into force from 1 April 2026
  21. [21]Razorpay, Multi-Currency Account for International Bank Transfers (MoneySaver Export Account pricing) (checked 2026-10-28)
  22. [22]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  23. [23]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  24. [24]Karbon Business, PayPal Alternative comparison page (checked 2026-10-28)
  25. [25]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  26. [26]Skydo FAQs, How much does Skydo charge? (checked 2026-10-28)
  27. [27]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  28. [28]Skydo, Receive international payments as a freelancer in India (product page) (checked 2026-10-28)
  29. [29]Payoneer India, Payoneer Fees (checked 2026-10-28)
  30. [30]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  31. [31]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  32. [32]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  33. [33]Payoneer press release, Payoneer receives in-principle authorization as Cross-Border Payment Aggregator in India, 22 January 2026
  34. [34]PayPal India, PayPal Merchant Fees (page last updated 28 March 2024) (checked 2026-10-28)
  35. [35]PayPal India, User Agreement for PayPal Services (last updated 13 January 2025) (checked 2026-10-28)
  36. [36]PayPal India, Foreign Inward Remittance Advise (FIRA) (checked 2026-10-28)
  37. [37]PayPal India Help, How do I transfer funds to my bank account? (checked 2026-10-28)
  38. [38]PayPal India Help, What is the Purpose Code? (checked 2026-10-28)
  39. [39]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  40. [40]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  41. [41]Wise India site, Wise Business pricing, fees at a glance (checked 2026-10-28)
  42. [42]Wise Help Centre, How to verify your Indian business to receive payments (checked 2026-10-28)
  43. [43]Wise Help Centre, Getting paid to your Wise Business by card, Apple Pay or Google Pay (checked 2026-10-28)
  44. [44]Skydo, Terms of Use, last updated 9 April 2026 (checked 2026-10-28)

Frequently asked questions

How does an SEO agency in India receive international payments legally?+

An SEO agency in India receives international payments legally through its authorised dealer bank, either by direct wire or through an RBI-authorised cross-border payment aggregator. The bank credits proceeds after checking the transaction is genuine, and from 1 October 2026 the agency files an EDF and must realise each invoice within nine months.12

Is FIRC still issued for SEO agency payments in 2026?+

Banks and providers in 2026 mostly issue a FIRA, a foreign inward remittance advice, rather than a paper FIRC. PayPal issues a free weekly digital FIRA, Payoneer a digital FIRA per payment and Wise an e-FIRC per transfer. The e-BRC is self-generated on the DGFT portal from the bank's inward remittance message.10313639

Does an SEO agency charge 18% GST to a US client?+

An SEO agency does not charge GST to a US client when the supply is an export of services. Exports are zero-rated under section 16 of the IGST Act, and a registered agency invoices without IGST under an LUT. The invoice carries the rule 46 endorsement for supply under a Letter of Undertaking.131517

Can a Wise personal account receive SEO client payments in India?+

A Wise personal account in India cannot receive money, according to Wise. Indian SEO agencies need a Wise Business account, which Wise opens for sole traders, sole proprietorships, private limited companies, LLPs and general partnerships, each verified with the business's own documents and an INR bank account.42

Is there a limit on how much an SEO agency can receive through Payoneer or Wise?+

RBI caps each cross-border payment aggregator transaction at ₹25 lakh. Wise publishes a maximum of ₹25 lakh or equivalent per transaction for Indian businesses and returns payments outside its limits. Payoneer does not publish a per-transaction limit on the India pages checked, so larger retainers usually go by bank wire.42939

What happens if a foreign SEO client pays late under an LUT?+

If a foreign SEO client pays after one year from the invoice date, or after the FEMA realisation period with any RBI extension, whichever is later, rule 96A makes IGST with interest payable within 15 days. Under FEMA the agency can ask its bank to extend the nine-month realisation period.114

Can an SEO agency change its purpose code on PayPal or Payoneer?+

An SEO agency sets its purpose code once on PayPal, during account set-up, and it becomes the default for payments. Payoneer lets you choose the code in profile settings and applies it to every payment, but it cannot be changed for payments already processed; Payoneer says to contact your bank for those.3138

This page is general information for Indian service exporters, not tax or legal advice. Rules change and outcomes depend on your facts, so confirm with a chartered accountant before acting.

Keep reading

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How should an SEO specialist in India receive payments from foreign clients?

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Purpose codes

Which purpose code should a digital marketing agency or freelancer use?

Which RBI purpose code fits digital marketing exports: P1007 for advertising, P1006 for marketing strategy and PR, P1016 for market research, P1099 for brand promotion.

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What is the difference between FIRC, FIRA and e-BRC for service exporters?

What FIRC, FIRA and e-BRC are, who issues each, how e-BRC works on the DGFT portal, and which documents Indian service exporters should keep for GST and tax.

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How do you file an LUT for export of services on the GST portal?

Step-by-step guide to filing a Letter of Undertaking in FORM GST RFD-11 for export of services: eligibility, validity, late filing and the ARN on invoices.