If you choose to complete a payment from India in a foreign currency (such as USD, GBP, or EUR) through your local bank or a third-party provider, please review the following processing requirements and documentation rules.
Processing time and compliance for FX payment from India
- Manual verification: Because foreign currency payments require manual document verification, please allow up to 5 business days for the funds to reach your institution once your payment is initiated.
- LRS and TCS responsibility: Flywire does not manage the Liberalised Remittance Scheme (LRS) declaration or Tax Collected at Source (TCS) for foreign currency payments. Your personal bank or Authorised Dealer is fully responsible for handling these compliance steps before transferring the funds.
Special requirement for USD payments from India
If you are completing a USD payment through a third party, you must provide additional documentation to avoid severe delays or disruptions:
- Mandatory FX Receipt/Bill: You must upload an official FX Receipt/Bill directly to your Flywire tracking link. This requirement specifically applies to USD payments.
- Required details: The receipt must clearly display all transaction details, including the exact name of the Bank or Authorised Dealer II (ADII), the exchange rate applied, and any transaction fees. (Please refer to the sample receipt provided on your document upload page).
Note: Failing to upload the required receipt (for USD) or providing incomplete information will result in payment delays. To ensure a smooth transfer, always verify that the sender's details match the payer information entered on your Flywire request.