How to Get FIRC Certificate from SBI: 2025 Guide

If you're a freelancer or business owner in India receiving international payments through the State Bank of India (SBI), you'll likely need a Foreign Inward Remittance Certificate (FIRC). This guide explains what an FIRC is, why it's important, and provides tips for obtaining one from SBI, based on available information. 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.

What is an FIRC from SBI?

A Foreign Inward Remittance Certificate (FIRC) is a document issued by the State Bank of India (SBI) that serves as official proof that you've received foreign currency into your SBI account from a sender located outside India. It's a crucial document for individuals and businesses involved in international transactions.

Why is an SBI FIRC Required?

An FIRC from SBI is essential for several reasons:

• GST Refund Claims: If you export services and are registered for GST, you'll likely need an FIRC to claim refunds on the Goods and Services Tax (GST) you've paid. The FIRC serves as proof of foreign currency inflow.
• Export Incentive Applications: To claim benefits under various government export promotion schemes, you'll need to provide documentation of your export earnings. The FIRC is a key document for this.
• Regulatory Compliance: Certain Indian regulations may require businesses to provide proof of foreign currency receipts. The FIRC helps fulfill these compliance requirements.
• Tax Documentation: When filing income tax returns, especially for income earned from international sources, the FIRC provides essential verification of your foreign income.

How to Get Your FIRC from SBI

SBI generally issues FIRC online, or you can request for one. When you receive an inward remittance, you typically need to take the following steps. However, for the most accurate and up-to-date procedure, always contact your specific SBI branch directly.

1. Settlement of Inward Remittance: Ensure the international payment has been processed and credited to your SBI account.
2. Gather Transaction Details: Collect the following information about the inward remittance:
   • Your SBI account details
   • The date the payment was received
   • The amount of foreign currency received
   • The sender's name and country
   • The purpose of the remittance (you might need to refer to specific purpose codes; check with SBI)
3. Prepare Required Documents: You'll likely need to provide:
   • A request letter for the FIRC: Clearly state the transaction details and the purpose for which you need the certificate.
   • KYC (Know Your Customer) documents: As per SBI's requirements.
   • Additional documents (depending on the transaction): For example, if the remittance is related to software exports, you might need to provide proof of SOFTEX filing.
4. Contact Your SBI Branch: Contact your SBI branch directly to confirm the exact procedure for requesting an FIRC. Ask to speak with a representative in the Forex or Trade Finance department, as they will be most familiar with the process. They can provide specific guidance and any necessary forms. You might be able to complete some steps online through SBI's internet banking portal, but branch confirmation is essential.

FIRC Certificate Charges from SBI

As per the official Forex related Service Charges published by SBI, the issuance of FIRC is listed at 200 INR per application.

As per the official Schedule of Forex Transaction Related Service Charges published by SBI, the charges related to e-FIRC (or any other certificate related to Export/Import) are: Nil for Export Credit Customers.

Here are the charges for Non-Export Credit Customers:

Requesting a duplicate has the same charges, and all fees are subject to an additional 18% GST. Please note that charges are in addition to any standard fees for inward remittances, international wire transfers, and currency conversion margins. Always confirm the latest fee structure directly with SBI, as charges are subject to change and an 18% GST.

For a Convenient Alternative, Meet Wise

For businesses and freelancers in India frequently receiving international payments, Wise Business offers a convenient and often more cost-effective alternative to traditional bank transfers.

Get started with Wise Business🚀

Receiving International Payments with Wise Business

• Multi-Currency Account: Get local bank details in major currencies (USD, GBP, EUR, AUD, and more). Your clients can pay you with a local transfer in their currency, avoiding expensive international wire fees.
• 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