Global payments
Subscribe to our newsletter
Get the latest updates, insights, and tips delivered straight to your inbox.
To receive international payments from Europe to India, Indian freelancers, agencies, exporters, and businesses can use eligible local receiving accounts, SWIFT transfers, or online payment links. The right option depends on the currency, the transfer methods your receiving account supports, and the total cost of receiving the money in INR.
This guide explains how to receive EUR and GBP payments in India, compare fees and transfer times, and understand the documentation that may apply to business transactions. Personal remittances can have different account and documentation requirements.
TL;DR
Choose a payment method: Receive EUR or GBP through eligible local receiving accounts, SWIFT transfers or payment links, depending on your client’s preferred method.
Compare total costs: Check transaction fees, exchange rates and bank charges to estimate your final INR payout.
Check transfer times: Settlement depends on the payment route, provider and bank processing.
Prepare the required details: Share the correct receiving instructions and keep invoices and relevant remittance records.
Check tax and compliance requirements: GST, LUT, IEC, and other obligations depend on your business activity and transaction.
Explore Infinity: Eligible bank transfers have a 0.5% transaction fee, inclusive of GST, and 0% FX markup, subject to applicable terms.
What is the Best Way to Receive International Payments From Europe to India?
The best method depends on your client's preferred payment method, currency, and fees. Local receiving accounts can support eligible local transfers, SWIFT transfers suit international bank payments, and online payment links let clients pay through supported online methods.
1. Local Receiving Accounts
Local receiving accounts provide bank details that eligible overseas clients can use to pay you through supported transfer methods. They can be useful for Indian freelancers, agencies, and businesses that regularly receive EUR or GBP payments.
For example, a payment service may provide EUR receiving details that allow a client to send euros through a supported local bank transfer. Availability depends on the provider, your account eligibility, and the supported currency and payment route.
Best for: Recurring business payments when your provider supports the required currency and your client's transfer method.
2. SWIFT Transfers
SWIFT is a messaging network that financial institutions use to communicate instructions for international payments. A SWIFT transfer can work when your client's bank sends funds internationally and your receiving account supports that route.
Your client may need your account details, beneficiary name, and the receiving bank’s SWIFT/BIC code. Intermediary banks may also charge fees, depending on the transfer route. Processing times and charges vary.
Best for: International bank payments when your client prefers to pay through their bank or a suitable local transfer option is unavailable.
3. Online Payment Links
Online payment links let you request payment by sharing a link with your client. Depending on the provider and invoice setup, clients may be able to pay by card or bank transfer.
Eligible Infinity users can create QuickLinks for overseas clients and select from the payment methods available for the invoice. Fees depend on the selected payment method, so check the applicable pricing before sharing the link.
Best for: Freelancers, agencies, and businesses whose clients prefer online checkout rather than arranging a bank transfer.
Before choosing a method, confirm that your client can use it and your receiving account supports it. Compare total fees, the exchange rate, and the expected INR payout.
Difference Between SEPA, SWIFT, and Local Receiving Accounts
SEPA supports eligible euro transfers within its participating payment area, while SWIFT provides messaging for international payment instructions. A local receiving account provides payment details for the transfer methods supported by the account and its provider.
Method | What It Means | What it Means for Payments to India |
SEPA transfer | A euro transfer using a Single Euro Payments Area payment scheme. | An Indian bank account generally cannot receive a SEPA credit transfer directly. A payment provider may offer EUR receiving details that support SEPA transfers. Confirm that your specific account accepts them. |
SWIFT transfer | An international payment arranged through banks or other financial institutions using SWIFT messaging. | It may be used to send funds to an eligible Indian receiving account. Fees, intermediary deductions and settlement times depend on the route. |
SWIFT/BIC | A code used to identify a financial institution or branch in the SWIFT network. | Your client may need the receiving bank's SWIFT/BIC code for an international bank transfer. Follow the exact instructions provided for your account. |
IBAN | An International Bank Account Number used in countries and payment systems that support it. | Indian bank accounts generally use an account number and IFSC rather than an IBAN. An eligible overseas receiving account may have an IBAN. |
GBP payment from the UK | A payment in British pounds using a supported UK or international transfer route. | The route may differ from a euro payment. Check whether your provider supports GBP and which bank details your client must use. |
A European client does not necessarily need to send every payment through SWIFT. If your receiving provider offers local EUR or GBP details, follow its instructions to determine which transfer method your client should use.
Which Payment Method Costs the Least to Receive Money From Europe?
The cheapest way to receive international payments from Europe depends on how much reaches your Indian account after fees and currency conversion. Costs vary by provider, currency, and payment route.
You should compare the full cost of receiving a payment rather than looking only at the advertised transaction fee.
Transaction or platform fee: The fee charged by your payment provider for receiving or processing the payment.
Exchange-rate markup: An additional margin applied to the exchange rate when converting foreign currency into INR.
Sender-bank charges: Fees your client's bank may charge to send the payment.
Intermediary-bank charges: Fees that may be deducted when a payment passes through intermediary banks.
Withdrawal or payout fees: Any separate charge for transferring the funds to your Indian bank account.
GST and other applicable charges: Check whether the quoted fee includes GST and whether any additional charges apply.
A low transaction fee does not always mean a lower overall cost. Compare the exchange rate, applicable charges, and final INR amount.
How Much Can Fees Reduce Your EUR-to-INR Payout?
The amount you receive depends on the exchange rate and the charges applied to the payment. The example below compares a 0.5% transaction fee with a 3% total cost.
Assume you receive €2,000 at an exchange rate of ₹92 per euro. Here’s how the calculation works:
Calculation | 0.5% Transaction Fee | 3% Total Cost |
Gross amount at ₹92 per Euro | ₹1,84,000 | ₹1,84,000 |
Total cost | ₹920 | ₹5,520 |
Net amount after costs | ₹1,83,080 | ₹1,78,480 |
Note: The 3% figure shows how a higher total cost affects the payout. It is not a quoted fee from a specific provider. Actual proceeds depend on the exchange rate, applicable fees, and any external bank charges.
What Does Infinity Charge for Eligible Bank Transfers?
Infinity's standard eligible bank-transfer service has a 0.5% transaction fee, inclusive of GST, and 0% FX markup, subject to the applicable terms. This means the service does not add an exchange-rate margin to the rate used for the transaction.
Sender-bank, intermediary-bank, or other external charges may apply separately. QuickLinks card payments have different pricing, so the bank-transfer fee does not necessarily apply to card transactions.
How Long Does It Take to Receive Payments From Europe?
The time required depends on the transfer method, the banks or payment providers involved, and any checks required before the funds are credited. Local receiving routes and SWIFT transfers may follow different timelines.
How Do Local and SWIFT Transfer Times Differ?
A payment through an eligible local receiving route may be processed differently from an international SWIFT transfer. The actual time depends on the provider's processing schedule, the sending bank, cut-off times, weekends and public holidays.
SWIFT transfers may take longer when intermediary banks are involved or when a bank needs additional information. Check the timeline supplied for your particular route rather than relying on a general estimate.
What Can Delay an International Payment?
Payments may take longer than expected for several reasons:
Incorrect beneficiary or receiving-bank details.
Missing payment references or supporting documents.
Bank, compliance or transaction checks.
Intermediary-bank processing.
Weekends, public holidays or payments initiated after a bank's cut-off time.
Currency conversion or payout processing requirements.
To reduce avoidable delays, share the exact receiving instructions provided by your payment service and ask your client to verify the details before sending the payment.
When Will the Money Reach Your Indian Bank Account?
The time it takes to reach your receiving account may differ from the time it takes for the funds to be paid out to your Indian bank account. Some providers process these steps separately.
Check the settlement and withdrawal timelines for your specific route. If your provider quotes a one-business-day settlement time, confirm that it applies to your currency, transfer method, and transaction. If a payment is delayed, use the transaction reference to ask your provider or bank to trace it.
What Details Should You Share With a European Client?
The bank details you share with your European client depend on the receiving currency, transfer method, and provider. Use the receiving instructions issued for your account rather than assuming the same details work for every payment.
Your payment instructions may include:
Your beneficiary or account holder name.
The account number or other receiving account details.
The IBAN, if your receiving account has one and the route requires it.
The receiving bank's SWIFT/BIC code, if required.
The bank name and address, where requested.
Any payment reference or purpose details specified by your provider.
Only share the details that apply to the selected payment method. Keep the beneficiary name consistent with your account records and the instructions provided by your payment service.
Do You Need an IBAN to Receive Money in India?
Not necessarily. Indian bank accounts generally use an account number and IFSC rather than an IBAN. An international transfer to an Indian bank may require the account number, IFSC, SWIFT/BIC, and other details the receiving bank specifies.
If you use a payment service that provides overseas receiving details, those details may include an IBAN for a supported currency or route. Share the details supplied for that specific account and payment method.
What Documents and Tax Requirements Apply to Business Payments From Europe?
The documents required depend on the nature of the payment, your business activity, the payment route, and the applicable Indian rules. Keep records that explain why you received the funds and how the transaction relates to your work or business.
Documents Required for International Payments
For a business payment, you may need some or all of the following, depending on the transaction and your provider's requirements:
Invoice: Shows the goods or services supplied, the amount due, and the client details.
Payment purpose or purpose code: Your bank or payment provider may ask for information about the reason for the inward remittance.
Contract or work agreement: Helps support the commercial purpose of the payment when required.
Remittance advice or transaction reference: Helps identify and trace the payment.
FIRA or other remittance documentation: A Foreign Inward Remittance Advice or other relevant document may be available or required depending on the transaction, bank and purpose.
Other supporting records: Your bank or provider may request additional information for verification or compliance.
The exact requirements can vary. Follow the instructions from your authorised bank or payment provider and retain documents relevant to the transaction.
Do GST, LUT and IEC Requirements Apply to Payments From Europe?
Not every payment received from Europe creates the same GST or export-compliance obligations. The requirements depend on whether you supply goods or services, the nature of the transaction, your registration status and the applicable rules.
GST: Certain supplies to overseas customers may qualify as exports under Indian GST rules if the relevant conditions are met. Registration and reporting requirements depend on your circumstances.
Letter of Undertaking (LUT): An eligible GST-registered exporter may use an LUT to export qualifying goods or services without payment of integrated GST, subject to applicable conditions.
Import Export Code (IEC): An IEC is relevant to many goods-export transactions. Its applicability to a particular transaction, including services, depends on the activity and the rules that apply.
Export reporting and bank documentation: Your authorised dealer bank may require transaction details or supporting records based on the type of export and applicable reporting requirements.
Requirements vary depending on the type of work you do and how you receive payment. Check with your authorised bank or a qualified tax professional to find out whether you need an IEC, LUT or any other documents for your specific situation.
Do You Have to Pay Tax on Business Income From Europe?
Receiving money from Europe does not automatically make the payment tax-free or determine how it will be taxed. The tax treatment depends on the nature of the income, your residential status, and the applicable Indian tax rules.
For example, fees earned by a freelancer or agency for providing services may be treated differently from a personal gift or a transfer of your own savings. Keep invoices, contracts, payment records and relevant remittance documents to support the nature of the receipt.
For advice on your specific GST, export reporting or income tax obligations, consult a qualified tax professional.
How Can Infinity Help You Receive Business Payments From Europe?
Infinity helps eligible Indian businesses receive cross-border payments through supported currencies and payment routes. The features available to you depend on your account eligibility, transaction type, and the applicable service terms.
Global Accounts: Get receiving details for supported currencies and payment routes, subject to eligibility.
Transparent pricing: Eligible bank transfers have a 0.5% transaction fee, inclusive of GST, with 0% FX markup. Additional bank charges may apply, depending on the transfer.
Currency conversion: Check the EUR-to-INR exchange rate to estimate how much you could receive in rupees.
QuickLinks: Eligible users can create payment links for overseas clients. Available payment methods and fees depend on the invoice setup.
Payment tracking: Use your account and transaction details to check the progress of incoming payments.
Remittance documents: Eligible withdrawals include a free FIRA issued by an RBI-authorised bank, subject to the service's terms. Check which documents are available for your transaction.
To estimate your conversion, use the Infinity EUR-to-INR converter. Check the applicable fee and receiving instructions before asking your client to make the payment.
Frequently Asked Questions About Receiving International Payments From Europe to India
1. Is there a limit on how much money I can receive from Europe?
There is no fixed limit for every incoming payment from Europe. The amount you can receive depends on your account, payment provider, type of transaction, and any applicable bank or regulatory requirements. Before receiving a large payment, check your provider’s limits and confirm whether your bank needs any additional documents.
2. Do I have to pay tax on money received from Europe?
Money received from Europe is not automatically tax-free or taxable. The treatment depends on the nature of the receipt, your residential status, and the applicable tax rules. Business income, gifts, and personal transfers may be treated differently.
3. Can I receive international payments without paying fees?
A payment may still involve costs even if a provider does not charge a receiving fee. Sender-bank charges, intermediary fees, currency conversion margins, or withdrawal fees may apply. Compare the complete cost and the final INR amount before choosing a payment method.
4. Do I need a FIRA to receive international payments in India?
A FIRA records details of an inward foreign remittance. Whether you need one depends on the transaction, your bank or provider's process, and the documentation required for your business or compliance records. Ask your authorised bank or payment provider which remittance document applies to your payment.
5. Can Freelancers in India receive payments from European clients?
Yes. Indian freelancers can receive payments from European clients through supported bank transfers or payment platforms. They should share the correct receiving details, issue invoices when required, and keep payment records for tax and compliance.
6. Can I receive payments from Europe into my personal savings account?
It depends on the purpose of the payment and your bank's terms. A personal savings account may be suitable for certain personal remittances, but regular business receipts may require an account and documentation appropriate for your activity. Confirm the permitted use with your bank before using a personal account for business payments.
