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How to get FIRC from HDFC Bank [2025 Guide]

Aditya Shrivastava
Aditya Shrivastava
24.03.25
Read time 2 minutes

If you're a freelancer or business owner in India receiving international payments through HDFC Bank, you'll likely need a Foreign Inward Remittance Certificate (FIRC). This guide explains what an FIRC is, why it's important, and how to obtain one from HDFC Bank. As an alternative, we'll also introduce you to Wise Business Account for freelancers and businesses in India that can help you save on receiving international payments with low, transparent fees and mid-market exchange rates.

Table of contents

What is an FIRC Certificate?

A Foreign Inward Remittance Certificate (FIRC) is an official document issued by Indian banks, including HDFC Bank. It serves as proof that you've received foreign currency into your Indian bank account from a sender located outside of India. The FIRC is a crucial document for individuals and businesses engaged in cross-border transactions.

Why is an HDFC Bank FIRC Required?

An FIRC from HDFC Bank is essential for several reasons:

  • GST Refund Claims: If you export services and are registered for GST, you may need an FIRC to claim refunds on the Goods and Services Tax (GST) you've paid. The FIRC provides the necessary proof of foreign currency inflow, a key requirement for these claims.
  • Export Incentive Applications: The Indian government offers various incentives to encourage exports. To qualify for these benefits, you usually need to provide documentation confirming your export earnings. The FIRC is a primary document for this purpose.
  • Regulatory Compliance: Certain businesses and transactions may require proof of foreign currency receipts to comply with Indian regulations. The FIRC provides this official confirmation.
  • Tax Documentation: When filing your income tax returns, especially for income earned from international clients or sources, the FIRC serves as vital supporting documentation. It verifies your foreign income and ensures accurate tax reporting.

How to Get Your FIRC Certificate from HDFC Bank

HDFC Bank generally issues FIRC certificates automatically upon receipt of eligible foreign currency remittances, provided you have submitted disposal instructions for the inward remittance. Here's a breakdown of the process:

Eligibility for HDFC Bank FIRC

To receive an FIRC, you must:

Providing Disposal Instructions (Essential)

You must provide disposal instructions to HDFC Bank for your inward remittances. This tells the bank how to handle the incoming foreign currency (e.g., convert it to INR and credit your account). You can typically do this through HDFC Bank's NetBanking portal. Without these instructions, you likely won't receive an FIRC automatically.

If You Haven't Received Your FIRC

If you've provided disposal instructions and haven't received your FIRC as expected, contact your HDFC Bank Relationship Manager or the bank's customer service directly. Provide them with the following details:

  • Date of the remittance
  • Amount of foreign currency received
  • Sender's details (name, country)
  • Purpose of the remittance
  • Your HDFC Bank account details

HDFC Bank FIRC Certificate Charges

HDFC Bank charges INR 200 + 18% GST for each FIRC certificate. This is in addition to the standard fees for receiving international payments, which include charges for the Amount of Currency Exchanged (ACE) and any applicable international wire transfer fees.

Meet Wise Business: A Convenient Alternative for Receiving International Payments in India

For businesses and freelancers in India frequently receiving international payments, Wise Business offers a convenient alternative. Here's how Wise Business offers freelancers and businesses in India:

  • Multi-Currency Account Details: Get local bank details in multiple major currencies (USD, GBP, EUR, AUD, and more). This allows your international clients to pay you with a local transfer in their currency, often avoiding expensive international wire fees for both you and your clients.
  • Mid-Market Exchange Rate: Your received payments are converted to INR with mid-market exchange rate (the same one you see on Google), with no hidden markups.
  • Automated e-FIRC: Receive your Electronic FIRC (e-FIRC) automatically via email within 3 business days of the funds being processed. No need to request it separately. Learn more about Wise e-FIRC.
  • Low, Transparent Fees: Wise charges a small, upfront fee for currency conversion and transfers: View Wise Business Pricing

Get started with Wise Business🚀

Sources:
  1. Foreign Currency Inward Remittance Disposal Instructions through NetBanking - HDFC Bank
  2. Remittance Services - HDFC Bank
  3. Remittance Fees and Charges - HDFC Bank
  4. List of Inward Remittance Purpose and Declaration Formats - PDF
  5. Does HDFC Bank Provide FIRC Certificate? - Reddit
  6. Remittance Fees and Charges - HDFC Bank

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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