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What’s a Foreign Inward Remittance Certificate (FIRC) and how can I request one?

According to the Reserve Bank of India's (RBI) guidelines, a Foreign Inward Remittance Certificate (FIRC) is a document issued by "A.D. (Authorized Dealer) Category I" banks in India as proof of foreign transfers to India.
 

Can I request a physical FIRC?


No. A physical FIRC may be issued only for transfers (inward remittances) covering Foreign Direct Investment (FDI) / Foreign Institutional Investment (FII). These payments are not allowed via TransferWise, so a FIRC can't be issued. 
 

Can I request an e-FIRC?


Yes, but not from TransferWise.

According to the RBI, AD Category I banks must report all money transfers to India to Export and Data Monitoring Systems (EDPMS). This includes any advances or outstanding transfers they've received for the export of goods or software. Banks that receive these kinds of transfers will issue an electronic FIRC to EDPMS when the exporter asks them to.

You can check this with your bank (the one that received the transfer) and then apply for an e-FIRC with them.
 

What do I need to apply for an e-FIRC?

 
  • Confirm with my bank (recipient bank) that the transfers were received for export of goods or software and need to be reported to EDPMS
  • Apply for e-FIRC through EDPMS system upon consultation with your bank (recipient bank).


My bank says the transfer was completed locally and not as an inward remittance. 

 
  • Apply for an Advice from TransferWise’s partner banks (processing bank)
  • Take the Advice along with Transfer Receipt from TransferWise and confirm with my bank that the transfers received are for export of goods and software and need to be reported to EDPMS
  • Apply for e-FIRC through EDPMS system upon consultation with your bank (recipient bank).


My transfers are not for export of goods and software, what else can I use to prove the funds were inward remittances?

 
  • Apply for an Advice from TransferWise’s partner banks (processing bank)
  • Advice is only available for Businesses  


How to apply for an Advice from TransferWise’s partner banks?


To apply for Advice, please contact the banking partner that processed your transfer. We have two banking partners in India, Yes Bank and HDFC. You can tell which banking partner we used for your transfer by looking at your statement.
 

Transfers received via HDFC


Submit a request by posting a letter to this address:

Attention: HDFC Bank - Vostro CMS Team Lodha 
Lodha - I Think Techno Campus, 
Office Floor 3, Opp : Crompton Greaves limited, 
Next to Kanjurmarg Railway Station, 
Kanjurmarg East, Mumbai - 400 042.

You can see the relevant forms and instructions here.

If you have questions, please email vostro@hdfcbank.com or indialink.helpdesk@hdfcbank.com.


Transfers received via YesBank


Submit a request by posting a letter to this address:

Attention: Mr. Nilanjan Sengupta
YES Bank Limited,
8th Floor, Indiabulls Finance Centre, Tower - 2,
Senapati Bapat Marg, Elphinstone Road,
Mumbai – 400 013

If you have questions, please email dlmuminrem@yesbank.in.


Please note: export, import, trade, and business-related transfers to India are regulated under strict guidelines from the RBI and FEDAI. Please review these guidelines closely to better understand whether a FIRC can be issued for your transfer.

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