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Razorpay vs Remitly (2026): Which Is Better for Receiving International Payments in India?

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Editorial team, serviceexportguide.com
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14 min read

Short answer

Remitly publishes enough pricing to estimate the cost of a USD 5,000 receipt, so there is no cost verdict. The better choice depends on how your client pays: Razorpay is best for local transfers from the US, UK and eurozone, and Remitly is best for uS or Canadian business clients already using Remitly.3456

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareRazorpay costs about 1.00 to 1.18%; Remitly does not publish full pricing.12
Bank transfer of USD 2,000Cannot compareRazorpay costs about 1.00 to 1.18%; Remitly does not publish full pricing.12
Client paying USD 2,000 by card or linkCannot compareRazorpay costs about 2.00 to 2.36%; Remitly does not publish full pricing.1
Razorpay is best forRazorpayLocal transfers from the US, UK and eurozone.3
Remitly is best forRemitlyUS or Canadian business clients already using Remitly.456

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%
2RazorpayThis pageMoneySaver 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.

How do Razorpay and Remitly compare at a glance?

Razorpay and Remitly compare on the twelve points below, using each provider's published information as checked on 28 October 2026. Where a provider does not publish something, the table says so.12789

RazorpayRemitly
Best forLocal transfers from the US, UK and eurozone3US or Canadian business clients already using Remitly456
FeesMoneySaver bank transfers: 1% per transaction, GST applicable, with a flat fee of ₹1,000 on transactions below ₹1,00,000. Flash Links (US ACH debit): 2%. International cards: up to 3% per successful transaction plus 18% GST on the pricing page (the international payments page says 3% plus taxes). Enterprise pricing is custom.127Remitly says there are no fees for the receiver in India. The sender pays the transfer fee: on its USD to INR page, $3.99 below $1,000 and $0 at $1,000 or more for personal transfers, with no fee on a new customer's first transfer.89
FX markupMoneySaver bank transfers: Razorpay says 0% FX markup, converting at the live exchange rate. Card payments: converted at the rate on the date of payment (the processing bank's rate, per Razorpay's docs); any markup on card conversions is not published.1210Remitly says it may earn from the difference between the rate at which it buys currency and the rate given to the sender. The rate is shown before the sender confirms; no markup percentage is published.119
SettlementPush bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.312113Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.5
FIRARazorpay provides a Foreign Inward Remittance Statement (FIRS), sent to the contact email within 24 hours after settlement for bank transfers, and downloadable from the dashboard, which shows bank-provided certificates and Razorpay-generated statements. The pricing page lists FIRC or eFIRC as included and auto-generated for international cards. No separate charge is published.3142Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.
CurrenciesVirtual local accounts in USD, GBP and EUR plus a SWIFT account; Razorpay's docs list other currencies (such as SGD, AED, AUD, CHF, DKK, SEK and CAD accounts) as coming soon on the dashboard. Card payments are accepted in around 135 currencies, according to Razorpay.37Senders pay in the currency of the send country; Remitly Business sends from the US. Recipients in India receive INR.459
KYC: who can sign upIndian businesses with a completed Razorpay KYC. The MoneySaver onboarding form lists Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited and LLP as business types, and the business must fall under one of the export purpose codes Razorpay lists. International card payments need a website with terms, privacy, refund and shipping policy pages. Razorpay says it cannot offer international payments to NGOs.31513Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.114586
RBI PA-CB statusRazorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).16Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.1611
SupportSupport tickets raised from Razorpay's support page, per product.17Remitly says business customers get 24/7 support by phone or help centre.5
LimitsRazorpay does not publish a per-transaction limit for international receipts. RBI's Payment Aggregator directions cap PA-CB export transactions at ₹25 lakh per transaction.18Not published as amounts. Remitly says limits vary by country, delivery method and verification, and are shown when the sender starts a transfer.
How clients payBank transfer to virtual account details (ACH in USD, FPS in GBP, SEPA in EUR, and SWIFT), ACH debit through Flash Links for US payers, or international card and wallet payments through Razorpay checkout or payment links.3127The client sends from a Remitly account: a US or Canadian business through Remitly Business, or an individual through the personal service for personal purposes only. Money arrives in India by bank deposit, UPI, cash pickup or wallet.115196
Card paymentsYes, international cards (Visa, Mastercard, Amex, Diners, Discover, JCB, UnionPay listed on the pricing page) and wallets such as Apple Pay and Google Pay, at up to 3% per successful transaction plus 18% GST.27The sender can fund a transfer with a debit or credit card; the Indian recipient cannot accept card payments through Remitly.511

How much INR do you receive on $2,000, $5,000 and $10,000 with Razorpay vs Remitly?

The INR you receive with Razorpay and Remitly is the invoice at the reference rate, less each provider's fee, conversion markup, GST on fees and FIRA charge. The table works this out from published pricing at today's rate.

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
RazorpayMost INRMoneySaver 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%

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.

What is Razorpay and who is it for?

Razorpay is a Bengaluru-based payment company whose international products let Indian businesses accept foreign card payments and receive bank transfers into virtual USD, GBP, EUR and SWIFT account details (the MoneySaver Export Account), with settlement in INR to an Indian bank account.7316

  • Regulated by: Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).16
  • Used by: Indian businesses with a completed Razorpay KYC. The MoneySaver onboarding form lists Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited and LLP as business types, and the business must fall under one of the export purpose codes Razorpay lists. International card payments need a website with terms, privacy, refund and shipping policy pages. Razorpay says it cannot offer international payments to NGOs.31513
  • Best for: Local transfers from the US, UK and eurozone.3

What is Remitly and who is it for?

Remitly is a money transfer service whose personal service is limited to individuals sending for personal, family or household purposes; its Remitly Business product lets US businesses pay contractors, freelancers and suppliers in India.115

  • Regulated by: Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.1611
  • Used by: Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.114586
  • Best for: US or Canadian business clients already using Remitly.456

How do Razorpay and Remitly fees and FX markup compare?

Razorpay and Remitly charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Razorpay charge?

Transaction typeFeeFX markupGST on feesBest for
MoneySaver Export Account: bank transfer to virtual account details (Standard plan)INR 1000 up to INR 100,000; 1% above that120%Not statedClients paying by local bank transfer
FlashLinks (US) payment link paid by ACH debit2%10%Not statedClients paying through a payment link
International cards and wallets3%2Not published18%Clients paying by card

What does Remitly charge?

  • Fees: Remitly says there are no fees for the receiver in India. The sender pays the transfer fee: on its USD to INR page, $3.99 below $1,000 and $0 at $1,000 or more for personal transfers, with no fee on a new customer's first transfer.89

How do Razorpay and Remitly compare on settlement speed?

Razorpay and Remitly publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
RazorpayPush bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.312113Automatic settlement in INR to the Indian bank account after Razorpay deducts its charges. Funds cannot be held in the foreign currency accounts. Razorpay also says it supports non-INR settlement to an EEFC account. No separate withdrawal fee is published.3Local transfers from the US, UK and eurozone3
RemitlyRemitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.5Bank deposit, UPI, cash pickup or wallet in INR; the recipient does not need to withdraw anything.1958US or Canadian business clients already using Remitly456

Do Razorpay and Remitly provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Razorpay and Remitly publish the FIRA position and RBI status below, checked on 28 October 2026. An e-BRC is generated by the exporter on the DGFT portal from bank remittance data, so it does not depend on the provider issuing one.40

PlatformFIRARBI PA-CB statusBest for
RazorpayRazorpay provides a Foreign Inward Remittance Statement (FIRS), sent to the contact email within 24 hours after settlement for bank transfers, and downloadable from the dashboard, which shows bank-provided certificates and Razorpay-generated statements. The pricing page lists FIRC or eFIRC as included and auto-generated for international cards. No separate charge is published.3142Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).16Local transfers from the US, UK and eurozone3
RemitlyNot published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.1611US or Canadian business clients already using Remitly456

Which currencies, countries and payment methods do Razorpay and Remitly support?

Razorpay and Remitly accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
RazorpayVirtual local accounts in USD, GBP and EUR plus a SWIFT account; Razorpay's docs list other currencies (such as SGD, AED, AUD, CHF, DKK, SEK and CAD accounts) as coming soon on the dashboard. Card payments are accepted in around 135 currencies, according to Razorpay.37Bank transfer to virtual account details (ACH in USD, FPS in GBP, SEPA in EUR, and SWIFT), ACH debit through Flash Links for US payers, or international card and wallet payments through Razorpay checkout or payment links.3127Yes, international cards (Visa, Mastercard, Amex, Diners, Discover, JCB, UnionPay listed on the pricing page) and wallets such as Apple Pay and Google Pay, at up to 3% per successful transaction plus 18% GST.27Local transfers from the US, UK and eurozone3
RemitlySenders pay in the currency of the send country; Remitly Business sends from the US. Recipients in India receive INR.459The client sends from a Remitly account: a US or Canadian business through Remitly Business, or an individual through the personal service for personal purposes only. Money arrives in India by bank deposit, UPI, cash pickup or wallet.115196The sender can fund a transfer with a debit or credit card; the Indian recipient cannot accept card payments through Remitly.511US or Canadian business clients already using Remitly456

What are the strengths and limitations of Razorpay and Remitly?

Razorpay and Remitly each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Razorpay?

Strengths:

  • You want clients in the US, UK or eurozone to pay by local bank transfer (ACH, FPS or SEPA) and receive INR in your Indian bank account the next business day after invoice details are shared.3
  • You want to offer international card or wallet checkout on your own website alongside bank transfers, from one dashboard.715
  • You are paid through Upwork, Deel, Toptal, Freelancer, Fiverr or Amazon and want those payouts to land in a virtual account; Razorpay says invoice upload is not required for Amazon, Upwork and Freelancer transactions.341

Limitations:

  • Every MoneySaver payment needs an invoice and buyer address uploaded before Razorpay settles it, except Amazon, Upwork and Freelancer platform transactions.341
  • Transactions below ₹1,00,000 attract a flat fee of ₹1,000 instead of the 1% fee.1
  • Funds cannot be held in the foreign currency accounts; they are converted and settled.3
  • Refunds are not supported on push bank transfers, and ACH debit (Flash Links) payments can be reversed by the payer through a chargeback.312
  • International card acceptance needs a website with policy pages and approval by Razorpay's banking partners, and the conversion markup on card payments is not published.1510
  • Only the purpose codes on Razorpay's list can use the MoneySaver account; P0807 is not on that list.3

What are the strengths and limitations of Remitly?

Strengths:

  • Your client is a US or Canadian business that already uses, or is willing to open, a Remitly Business account to pay contractors in India.456
  • Your client is an individual paying for a personal need, such as private tutoring, which Remitly's personal terms permit.11

Limitations:

  • An Indian freelancer or company cannot open an account to receive or invoice through Remitly; the client must be the Remitly customer.1145
  • Remitly Business is offered to businesses in the US and Canada only, and Remitly's personal terms prohibit sending for business purposes.4116
  • Remitly is not on the RBI list of authorised PA-CB entities, and its pages do not mention a FIRA, FIRC or purpose code for the Indian recipient.1658

Should you choose Razorpay or Remitly?

Choose between Razorpay and Remitly by how your clients pay and your usual invoice size.

Choose Razorpay if:

  • You want clients in the US, UK or eurozone to pay by local bank transfer (ACH, FPS or SEPA) and receive INR in your Indian bank account the next business day after invoice details are shared.3
  • You want to offer international card or wallet checkout on your own website alongside bank transfers, from one dashboard.715
  • You are paid through Upwork, Deel, Toptal, Freelancer, Fiverr or Amazon and want those payouts to land in a virtual account; Razorpay says invoice upload is not required for Amazon, Upwork and Freelancer transactions.341

Choose Remitly if:

  • Your client is a US or Canadian business that already uses, or is willing to open, a Remitly Business account to pay contractors in India.456
  • Your client is an individual paying for a personal need, such as private tutoring, which Remitly's personal terms permit.11

For example, say a designer invoices a US client USD 2,000. Because Remitly does not publish full pricing for that case, ask for a quote in writing and compare it with the FIRA rate after the first payment.1210119

Which other platforms should you consider besides Razorpay and Remitly?

Other platforms to consider besides Razorpay and Remitly are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.212223242526282930323334363738

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets200.68%212223242526Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2527Skydo review
Karbon BusinessUS bank transfers and marketplace payouts281.00 to 1.18%2829Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.28Karbon Business review
WinvestaLocal transfers with a published per-payment fee30311.24%30323334Free e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.3332Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork351.00 to 4.00%363738Free digital FIRA PDF for each transaction, issued by Payoneer's partner AD bank and available in the account under Manage, Reports and statements, within 24 to 72 hours (the same help article also says 1 to 3 business days). The e-FIRA/IRM in EDPMS is issued by the exporter's own bank, which may need the FIRA plus export documents.3839Payoneer review

Compare every provider on your own invoice in the platform cost comparison.

How did we verify this?

We checked this page against the sources below on 28 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]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  2. [2]Razorpay, Pricing (checked 2026-10-28)
  3. [3]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  4. [4]Remitly Business Account Agreement (US), updated 1 August 2026, sections 3, 4 and 8 (checked 2026-10-28)
  5. [5]Remitly, Business payments from the United States to India (checked 2026-10-28)
  6. [6]Remitly Canada, Remitly Business page and FAQ (checked 2026-10-31)
  7. [7]Razorpay, Accept International Payments (checked 2026-10-28)
  8. [8]Remitly India, Receive money in India from family abroad (checked 2026-10-28)
  9. [9]Remitly, USD to INR rate and fees (checked 2026-10-28)
  10. [10]Razorpay Docs, Currency Conversion (checked 2026-10-28)
  11. [11]Remitly User Agreement (US), effective 23 February 2026, sections on account use, foreign currency exchange, commercial transactions and transactions to India (checked 2026-10-28)
  12. [12]Razorpay Docs, Flash Links (ACH Debit) (checked 2026-10-28)
  13. [13]Razorpay Docs, International Payments FAQs (checked 2026-10-28)
  14. [14]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  15. [15]Razorpay Docs, International Debit and Credit Cards (checked 2026-10-28)
  16. [16]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list (dated 16 October 2026)
  17. [17]Razorpay, Support (checked 2026-10-28)
  18. [18]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025
  19. [19]Remitly, Send money to India from the United States (checked 2026-10-28)
  20. [20]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  21. [21]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  22. [22]Skydo, Home page (checked 2026-10-28)
  23. [23]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  24. [24]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  25. [25]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  26. [26]Skydo, Terms of use (checked 2026-10-28)
  27. [27]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  28. [28]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  29. [29]Karbon, PayPal alternative (checked 2026-10-28)
  30. [30]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  31. [31]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  32. [32]Winvesta, Multi-currency account (checked 2026-10-28)
  33. [33]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  34. [34]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  35. [35]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  36. [36]Payoneer India, Payoneer Fees (checked 2026-10-28)
  37. [37]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  38. [38]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  39. [39]Payoneer India, Digital FIRC page (checked 2026-10-28)
  40. [40]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  41. [41]Razorpay Docs, Manage Invoices and Transactions (International Bank Transfer) (checked 2026-10-28)
  42. [42]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Razorpay or Remitly?+

There is no cost verdict for a USD 5,000 bank transfer: razorpay costs about 1.00 to 1.18%; Remitly does not publish full pricing.12 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Razorpay and Remitly give a FIRA to Indian exporters?+

Razorpay: Razorpay provides a Foreign Inward Remittance Statement (FIRS), sent to the contact email within 24 hours after settlement for bank transfers, and downloadable from the dashboard, which shows bank-provided certificates and Razorpay-generated statements. The pricing page lists FIRC or eFIRC as included and auto-generated for international cards. No separate charge is published.3142 Remitly: Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.

Can individual freelancers use Razorpay and Remitly?+

Razorpay: Indian businesses with a completed Razorpay KYC. The MoneySaver onboarding form lists Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited and LLP as business types, and the business must fall under one of the export purpose codes Razorpay lists. International card payments need a website with terms, privacy, refund and shipping policy pages. Razorpay says it cannot offer international payments to NGOs.31513 Remitly: Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.114586

Are Razorpay and Remitly authorised by the RBI?+

Razorpay: Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).16 Remitly: Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.1611

How fast do Razorpay and Remitly pay out to an Indian bank?+

Razorpay: Push bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.312113 Remitly: Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.5

Do I still need an LUT if I am paid through Razorpay or Remitly?+

Yes, if you are registered under GST and want to invoice the export without IGST. The Letter of Undertaking is a GST filing for the financial year, and it does not depend on how the money reaches you, whether through Razorpay, Remitly or a bank wire.42

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 Razorpay's MoneySaver Export Account and international card payments work for Indian freelancers and firms: RBI status, fees, FIRS, purpose codes and limits.

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Remitly for Indian service exporters: how it works, costs and limits

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