How to: Accept Payments from Abroad

[Jonas]

So I have two questions:

1. How long does a Swift Bank Transfer take? For instance a person wants to send money from Germany to an Indian bank account, how long does the settlement take?

2. What's the best way to accept international payments.

 

[Jonas]

Offering service to a registered business.

 

[Smh]

So Payoneer? You will get a virtual bank account and customer can pay in their local currency. For USD it's very easy.

Or wise but getting firc will be difficult.

 

[Jonas]

The payment in this case was in Euros, and I urged them to make a SWIFT transfer.

I received the notification over email and SMS from HDFC to follow the inward remittance process, and after I provided them with a purpose code and accepted the payment, it was settled within a few hours.

 

[pothi]

That was fast. I had to visit the bank branch to process an inward remittance last time (years ago). Yet, it took a couple of working days to complete the process.