Global payments
Posted on Aug 29, 2025
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HDFC Bank is one of India’s most trusted private sector banks. HDFC Bank is catering to millions of users across retail, corporate, and NRI segments. The bank was established in 1994 and is known for its strong reputation for innovation, secure banking practices, and global financial connectivity.
For individuals and businesses engaged in cross-border transfers, freelancers, IT, and e-commerce professionals who receive international payments from overseas clients play a critical part in the operation. HDFC Bank offers multiple channels for inward remittances, enabling customers to receive international payments from more than 200 countries. Backed by its global financial networks, HDFC ensures compliance with RBI regulations while providing essential services like giving out FIRC for tax and regulatory purposes.
Whether you are an NRI sending out money to your family in India, or a freelancer who receives international payments from foreign clients in the US, or an exporter shipping goods to Europe, HDFC Bank has got you all covered. HDFC’s infrastructure supports smooth international transfers; however, just like any other traditional bank, there are charges, delays, and timelines that you must be aware of. This blog will help you get a detailed overview of HDFC’s cross-border payments structure.
How to receive international payments with HDFC Bank?
Here is how the HDFC inward remittance process typically works:
Share your bank details with the sender
Send the details of your HDFC Bank account, like account number, IFSC code, SWIFT code, and branch address, to the sender. These details are important to route the transfer correctly.
Sender initiates the transfer
The sender initiates the transfer after receiving the details. The transfer is routed through the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network to HDFC’s corresponding bank.
Funds received at the correspondent HDFC bank
Once the funds are received at HDFC Bank, the bank checks for a few compliance-related documents, like purpose codes. Once the documents are verified, the foreign currency is converted to INR. (Unless you want to hold the foreign currency).
Amount credited to your account
The foreign funds are then converted to INR and credited to your HDFC Bank account. For compliance purposes, you can also request the bank for an FIRC, which the bank issues at a minimal price.
What are the fees charged by HDFC Bank?
HDFC Bank charges the following fees for an international transfer:
Inward Remittance Fee: HDFC Bank generally doesn’t charge the receiver any fee; rather, the sender bears the charge for sending out an international payment.
Exchange Rates: The biggest cost while receiving international payments from a traditional bank lies in the currency conversion fee. HDFC Bank usually charges a 2%-3% markup above the live FX rates. This can significantly impact the amount you receive after converting to INR.
Compliance Charges: HDFC Bank issues an FIRC, which is required for regulatory compliance by freelancers and exporters. But this certificate is issued at a cost of ₹200 + GST per certificate.
Pro Tip: Always compare the amount you receive through HDFC Bank with a live currency converter calculator. This is to know the impact of HDFC Bank’s exchange rate markup.
How long does HDFC take to receive international payments?
HDFC Bank generally takes 2-5 working days to receive international payments.
Delays are possible if the intermediary banks delay the process, or if the documents given, like the purpose code or receiver's details, are wrong.
Documents Required by HDFC Bank to Receive International Payments
Receiving international payments through an HDFC bank is quite a straightforward process, but in some cases, it may require a few documents.
Here is a list of documents required by the HDFC Bank to receive international payments:
Basic details-
HDFC Bank account number
Beneficiary name as per bank records
SWIFT code and branch details
IFSC code
Purpose code (As per guidelines)
For business, exporters, and freelancers-
Invoice or contract with the foreign clients
IEC code( Import-Export code) for any export-related remittances
Disposable infrastructure in NetBanking for FIRC
For the FIRC document request-
Date of remittance
Amount and currency received
Sender’s country and details
HDFC account number and transaction reference
How to track international payments in HDFC?
Waiting for an international payment to arrive in your bank account can be a daunting process, especially if you are waiting for the international payment to be used in your business or as a personal expense. The best part about HDFC Bank is that it provides multiple ways to track your international payments and helps in resolving the delays quickly.
Use the SWIFT/UTR reference number
Every international payment generated via SWIFT generates a unique transaction reference or a SWIFT reference number. This helps in tracking the international payments.
With this number, HDFC Bank can trace the payment’s journey across the correspondent bank until it reaches your account.
Pro Tip: Always request that the sender include your account number and the purpose of remittance in the transfer details to avoid delays.
Track via HDFC Bank
Log in to your HDFC Bank NetBanking portal or through the HDFC Bank mobile banking app.
Under the accounts statement or remittance section, check if the amount has been credited or not.
Contact the Branch Manager or the Relationship Manager
If the amount has not been credited within 2-5 working days, you may raise a query with your bank’s relationship manager.
Provide them with your SWIFT/UTR number, sender details, and date of transfer. This will help the bank trace the payment with other intermediary or correspondent banks.
Common Causes of Delay
Incorrect SWIFT code: If the wrong SWIFT code is used, funds may be routed incorrectly or even returned to the sender.
Intermediary Bank Details: Sometimes, the funds pass through intermediary banks to reach the HDFC Bank. Any error from the intermediary bank may add a 1-2 day delay.
Missing Purpose Code: RBI requires a valid purpose code for sending out international payments. Missing this can put the transfer on hold.
What to do if the payment gets delayed?
Immediately contact the HDFC bank with the correct SWIFT code number for reference.
Ask your relationship manager at the HDFC Bank to trace the request with the sending and intermediary banks.
If you require an urgent credit, then you can request HDFC Bank to provide a credit confirmation letter while the funds are being reconciled.
Infinity: The Best Alternative to HDFC Bank for Receiving International Payments
While HDFC Bank has established its name in the global financial sector for its strong reputation and secure banking practices, it comes with a lot of drawbacks when it comes to receiving international payments. Delayed payments, poor exchange rates, and a manual process for acquiring compliance documents still remain a major problem. This is where Infinity steps in and is the best alternative for receiving international payments.
How Infinity helps:
Multi-currency account: Infinity helps you open a multi-currency account. This enables you to receive payments in 50+ currencies across the globe.
Lowest fee: Infinity charges a flat fee of 0.5% platform fee (inclusive of all). This is the lowest rate in the market and helps you save lots of money.
0% FX Margin: Infinity helps you convert your foreign currency at the live FX rate. This means there are no hidden margins you can get to keep the maximum of what you earn.
Fastest payout: Infinity helps you receive your international payments within 24 hours. This means no longer waiting for days to receive your payments.
Dedicated customer support: At Infinity, we know how important it is to keep track of your payments. We have a dedicated customer support team available 24/7 to help you solve your queries.
Simple compliance process: After every successful international transaction, you get a free and instant FIRA in your inbox. This helps you remain compliant with the RBI regulations.
So, if you are a freelancer, exporter, or a business that thrives on fast, low-cost, and transparent financial services, then InfinityApp is the right platform for you.
FAQs on HDFC Bank International Transfer
How much does HDFC Bank charge for receiving international payments?
No, HDFC Bank does not charge any fee for receiving international payments. Usually, the sender bears the transaction charge.
How long does it take to receive international funds in HDFC Bank?
It usually takes between 2 to 5 working days to receive payments in your HDFC bank account.
What is HDFC Bank's SWIFT code?
The general SWIFT code for HDFC Bank is HDFCINBBXXX, but confirm it with your branch manager.
Why is InfinityApp better than HDFC Bank for receiving international payments?
Infinity offers low fees, 0 FX markup, and fast settlements as compared to HDFC Bank for receiving international payments.
