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About FIRC & banks in India!

Weekender II

Hiii Guys,

A few questions I wanted to ask from the last few months.

  • Do you prefer Local transfer or Swift International one? [ I usually prefer local transfer, I haven't done a converted transfer yet but I'm willing to try it soon.]
  • Which banks do you prefer? I couldn't really find much on internet about FIRC & stuff but I'd love to know if you know any banks that are hopefully better at providing FIRC quickly & conveniently from "deels generated NOC". 🙂

I'd love to know if you have similar experiences or if you're currently doing contractual work from India & ofc the above two questions if you may. 🙂



Hi @isitayush
Thanks so much for sharing this question on the Community! Deel has several resources that can help you, and others, navigate Local transfers vs Swift international ones, as well as some details on FIRC. 

While I know you're looking more for recommendations and experiences from other users in India, hopefully this additional content can be a helpful supplement in the meantime! 

*Details from this article on requesting FIRC: 

A Foreign Inward Remittance Certificate (FIRC) is a document that acts as proof that an individual or business has received a payment in a foreign currency from abroad.

FIRC documents are often important for Deel contractors living in India, because service tax is not levied on certain services provided outside India.

Non Objection Certification (NOC) documents are sometimes used by banks to issue FIRC documents.

After contractors send documents to their receiving bank, the bank will generate an Inward Remittance (IRM) number in India’s Export Data Processing and Monitoring System.

Deel will provide a Non Objection Certification (NOC) document that can be forwarded to your bank for issuance of a FIRC.

Our payment provider uses NOC documents to issue FIRC documents.

You must let us know you will need a NOC when adding your Bank Transfer Withdrawal Method on the Deel app.

Once requested, you will be able to download the NOC from your contractor profile within several business days.

Regarding SWIFT international money transwers, this article was pretty insightful! One thing I specifically wanted to call out were the potential for hidden fees with this method: 

Note that currency exchange rate markups are nearly always hidden for SWIFT international money transfers. The bank making the currency exchange usually opts for the higher exchange rate and then pockets the extra profit.

Fortunately, local bank transfers remove the big banks from the process and instead rely on people’s local bank accounts to pass the transfer of funds, hence the phrase “peer-to-peer.”

Hope this was helpful information to get you started. Perhaps members like @mayank might have additional experiences or opinions to share? 

Thank you! 

*post was edited March 6, 2024 to reflect updated information

Thank you Cassy! I really appreciate it & this helps a lot! 🙂

Hi - Were you able to collect the FIRC from your bank with the NOC provided by Deel?

Hi - As you said in your post, "Once requested, our team will email you the FIRC document within 31 calendar days of the withdrawal date," the Deel team will email the FIRC. However, every post on this page states that Deel provides only NOC. Additionally, every member of the community replied that because the money the bank received was in Indian rupees, local banks had declined to provide FIRC based on your NOC. Could you confirm that the Deel NOC is a legal and regulatory document that the RBI has allowed other banks to provide FIRC? If yes, please provide the RBI approval letter regarding your NOC.

Weekender II

Hey Ayush!

Thanks for the A2A

  • I currently prefer Local Transfer but actually have the exact same questions as you. From what I know SWIFT transfers may cost you more (exact amount is not fixed), but the good part is, you should not have any problems getting an FIRC in case of SWIFT transfers. For Local Transfer, my bank somehow refuses to provide me an FIRC from the Deel provided NOC because "they received the money in INR, so there is no forex involved at their end and they cannot issue an FIRC"
  • My Deel generated NOC comes from IndusInd bank so I think if you have an Account with them they may be able to issue you an actual FIRC better, because they generated the NOC in the first place 🙂

I have been working as a Contractor remotely for a year now and its good to know other people from India who work similarly. Happy to be a part of this India group, would love to know other people's experiences and advices 🙂

Let me know if you have any more questions, would be happy to help and discuss, thanks 🙂

Hi @AmanAnsari,

Thank you for your response to this question I posted. The situation you're in exactly resembles mine & I understand it. Is it okay If I DM you here so we can catch up a bit? It has only been 5 months since I oringally started working through deel as a contractor. Would love to ask you some more questions & of course am happy to meet someone who has an identical scenario.



Hi Ayush, Yes definitely! Would love to connect with other members who are in the same boat as I am. Let's talk on DM, thanks

Hi Aman, I would like to connect with you as I am also facing confusion with all FIRC and NOC stuff. 

Looking for a reply.


Hi @AmanAnsari @isitayush - Good to see the Indian community on the Dell. Had few queries on best cost-efficient method from transfering money to my Indian bank account. Can we connect seperately & if you can help me with that. 

Yeah Sure! You can dm me @Saurabh. I'd even suggest you to start a new thread and I'll respond there so It'll be helpful to everyone and not just us in general.

Hi @isitayush I am very new here, and I also want to connect with all of you, but I am not even able to locate the DM option on your profile 😅. Please, help me guys.


Hey Harsh @hsahu

Welcome to the Deel community! It is advised that should you have questions, you create a new thread where more people in the regional hub can answer you. If you need to DM, you can do so with the mail icon. I checked your account and it looks like you have that option applied now (it usually takes 24hrs if you're a new member). If the question you're asking to users can benefit everyone in the Community, we recommend sharing it with everyone so that knowledge is shared 🙂 

Let us know if you have any other questions! 

Thank you so much, Cassy. I can see that option now. Sure, I'll post some of my questions in the community.

Hi - This month, my client will be switching to the Deel platform. Since you correctly pointed out that local banks will not provide FIRC if they receive payment in INR, I am concerned about FIRC. Just wondering if all of the NOC you get is from IndusInd and if it's printed on their letterhead.

Also, if FIRC is not available, can I be asked to pay GST by the taxman ( presently export of software service is zero gst)? What is the recommendation by your auditor?

Hi Prabal

The NOC provided by IndusInd is on their own letterhead and contains all necessary information regarding the transaction: Amount, Transaction Id, Purpose code, etc so its good enough as a proof of transaction. But its not the same as FIRC and does not have the same legal standing. I have talked to IndusInd bank and they confirmed that the bank that finally receive the amount should be issuing the FIRC, however my bank declined to do so.

FIRC present or not, GST on export will be zero so I dont think you can not be asked to paid GST later. The only question will be regarding the source of the money that you received. My CA has asked for the FIRC, please check with your CA on this matter.

I personally did not like having only the NOC. I have recently switched to a different client who uses SWIFT transfers and luckily for me there are no hidden charges (probably my client is a preferred one!). I get the same amount which I transfer and even my bank has agreed to provide me preferential exchange rates.

Hope this helps.

Thank you Aman. This is my far the most simplest explanation. I do not like not having the FIRC too but for now I'm keeping "Local Transfers" as a way to get my money.

Hi Aman - Regarding swift transfer, in FIRC the ordering customer name does it reflect your Client name and address?  

Hi Prabal, the FIRC will contain the name and address of who sent you the transfer (it may or may not be the same as your end client). Also will will contain a purpose code which you will provide to your bank while remitting the amount in Foreign Currency (FCY) to INR

Hello @AmanAnsari ,

I actually found this thread since I was looking at potential questions to be answered and stumbled across your reply which mimics my situation. I have just set-up my Deel in last week, I am planning to add a withdrawal method but confused on which option to choose. Based on answers I think local bank is the way to go.

I am opening up a new savings account and considering IndusIND, SBI and HDFC. Leaning more towards IndusIND due to its high rate of interests, May I know your opinion on the same ? (My current account is in Axis , which I want to keep separate for personal use).

Hi @Pranav_v 

The thing about Local Transfers is that you will not get an FIRC, which is what happened with most people here. If you are okay with not having an FIRC then its fine. IndusInd is anyway a good option since it processes the Local Transfers (atleast it did in my case) and if you have a Bank account with them you may get an FIRC as well.

Are you opening a Savings Account? I assume you're a Sole Proprietor and so it may make sense to keep a Current Account for getting your payment. You can transfer the Amount to your Savings Account later on if you want. Just my opinion and this is what I follow myself.

Duly noted on that, yea thinking of going the current to savings route, I will be setting with the manager to discuss best option since we(my family) have a few accounts on their branch already. Since DEEL was completely new to me, had to know if there was something I was unaware about or should prepare in advance in.

Thanks for the response man, appreciate it!


Hi @isitayush @Saurabh @AmanAnsari , can you share your findings which aren't super specific to your use case here? I'm super-confused, this is practically my first full time job, working remotely, and have no clue whatsoever about financial aspects.

All and any help is much appreciated.

Hi @ishantd, thanks for being a part of the Deel Community! 

I'm hoping that the awesome members on this thread can give you more direction and advice in addition to all of the great insight they shared here. However, I would also recommend that if you have more specific questions (or general ones too!), you could "Start a topic" under the India Regional hub. That way, other members that are a part of the group but not on this thread are also able to chime in about their experiences based on the questions you have 🙂  

Generally speaking, Get registered for GST if your annual turnover (net earnings in a given financial year) are above 20 Lakh INR here. Fill out the GST forms monthly before they're due. Pay the income taxe's too on time. Other than that, maintain all the invoices and documents properly and in a safe place. You'll be good! Let me know if you have any other questions. If you outside the topic questions. I'd recommend you to start a new thread! Goodluck Ishan!. 😊


Hi guys, today I got my first payment via Deel to my bank account (HDFC). I opted for local transfer. I still haven't got the NOC for this, and wanted to know if the bank will issue me a FIRC? Should I be going for SWIFT withdrawal rather than local from next time? Is there a way to get FIRC online without going to the bank?

Hi @shauryashahi
Hope you had a great weekend, and thank you for sharing your questions in the Deel Community! While I can't speak to the exact experiences with your withdrawal and transfers in India, I did see this response from @AmanAnsari below that might offer some additional insight regarding SWIFT vs Local: 

I currently prefer Local Transfer but actually have the exact same questions as you. From what I know SWIFT transfers may cost you more (exact amount is not fixed), but the good part is, you should not have any problems getting an FIRC in case of SWIFT transfers. For Local Transfer, my bank somehow refuses to provide me an FIRC from the Deel provided NOC because "they received the money in INR, so there is no forex involved at their end and they cannot issue an FIRC"

My Deel generated NOC comes from IndusInd bank so I think if you have an Account with them they may be able to issue you an actual FIRC better, because they generated the NOC in the first place 🙂

Typically, an NOC will be processed in about 5 working days. From our partners at Wise, here's some information on e-FIRC with HDFC in this article

HDFC can issue an e-FIRC if your recipient's bank account is also with HDFC.

You can request an e-FIRC by emailing both and — make sure to attach the transfer receipt.

If your recipient's bank isn't with HDFC, you'll need to reach out to their bank to get the e-FIRC instead.

Additionally, here's another article that gives more explanation on how to request an FIRC more broadly. 

Hope this helps point you in the right direction, 

Hi @shauryashahi, I am new to this, and I am looking forward to transfer my payment to my HDFC account. Can we connect separately?

Weekender II

My Story..

Update after 3 payments received in INR

1st payment received for Aug in Sept 15 which I received in ICICI bank, and I am still struggling to get a FIRC even after presenting NOC to the bank.
As NOC received is of IndudInd bank, I though getting FIRC will be easier if fund received in IndudsInd bank. I opened account and IndudsInd bank.

2nd payment for Sept received in Oct 15, which I received in IndusInd bank and I was expecting to receive NOC within 15-20 days.. but NOC not received. So I decided to wait for their official 31 days time. Even after 31 days when I have not received NOC from Deel I raised ticket to get NOC which is sill in progress(6 days in progress ticket).

Screenshot 2023-12-01 at 10.06.04 AM.png

Meanwhile I have received 3rd payment in IndusInd Bank.. Lets see what happens.
I would appreciate, if someone resolved this quickly by involving any grievance authorities pls share.



Hi @vg

I'm so sorry to hear that you've had an extended period of time to get to a resolution with your NOC request. I checked in on your Support ticket and our team to see what the status is. It sounds like they have been actively working on a solution for you. Again, thank you so much for your patience as our Support team works to resolve this quickly for you. 

Hope you have a great weekend,  

Weekender II

Update after 5th payment received, Could not get FIRC yet from IndusInd bank.
Support ticket is still open with Deel, Now Deel is not even issuing NOC.

Not acceptable from Deel.. 

Hi @vg, thanks for sharing your experience with the Community and I am so sorry for the delay in resolving your issue. I can understand how frustrating this must be for you. 

I've checked in on your support ticket and it looks like our team is actively engaging with the payment provider and are currently awaiting a response from them. I have also followed up with the team to get an update and will reach out to you if there are any additional more account specific questions I'd need more context on in order to move this forward.

Appreciate your continued patience as we look into this for you,

Weekender II

6 months I am waiting for FIRC.. 

I don’t know kind of active engagement do you have with your payment provider?

Could you please share what communication Deel is having with payment provider (IndusInd bank) to resolve my issue.. 


Hi Vishal @vg

I understand that there was an extended period of confirmations required from our payment provider in order for our Support team to best assist you, and we are so sorry for the inconvenience this may have caused. I took a look at the current status of things, and it seems like you were recently reached out to by our team on February 14th that our provider and your bank (IndusInd bank) have connected. 

If this hasn't been communicated to you, or if you don't see the email sent to you by our team, please reach back out to our Support team! They're more than happy to give you further details or answer any additional questions you have. 

Thanks so much, 

Weekender II

I have used payoneer and transferwise, now going to try skydo. If you want to have less hassle use services like these, as most of these provide FIRC. These services provide better exchange rate as well

Weekender II

Are people facing FIRC issue for foreign currencies too (non INR)?

Weekender II


I have tried both swift and local transfers. Here is my experience:

While local transfer is convenient (money is credited directly to your bank account in INR), it costs much more fees that swift transfers. 

For swift transfer, your bank will receive an inward remittance. Then they will call you to fill up a form, and then they will transfer the converted currency (from USD to INR) in your account. 

You can negotiate with your bank to give you the best possible exchange rate. My IDFC bank is providing me a very good rate of just 30 paise less than the current market rate.

So if you receive 1000 USD, and the current market rate is 83.30, you will get approx 1000*83.20 = Rs 83200 in your bank account.

Hope this helps! Feel free to contact me for any doubts. My email is (email redacted by admin).

Hi Harsh @hkedia321

Thanks so much for sharing your experience with our community members in India. It's so helpful for others to learn how you're navigating the costs with the various transfer types. We really appreciate it!

I just wanted to note that I redacted your email from your original post in order to best protect you and our Community members. Please feel free to update with a link to a work profile, such as LinkedIn, or members could send you a direct message here on this platform. While participating in conversations can only be access by those with a Deel account, our Community content is publicly available. To best protect your privacy, we encourage not including email info in posts.

Thanks so much, and please reach out if you have any questions,


I also use IDFC First Bank. Can I get in touch with you? Looking for some guidance on receiving USD and getting FIRC

30p less with IDFC is good. I think this is as close to IOB rate as one can get. 

As per your example with 83.30 as market rate, IDFC provides you 83.00 (I assume 83.20 was by mistake?). So you receive 83000 INR for 1000 USD. Is this all, no other charges or hidden fees involved?

Beside the other charges, do they charge you for eFIRC and whether receiving the eFIRC is easy with IDFC.

You mentioned For swift transfer ... they will call you to fill up a form , does one has to visit branch after every inward remittance or you meant the form is filled online?

Hey @hkedia321 Can you answer the above question? That'd be helpful.

Hi, when selecting SWIFT in the Deel app, what currency do you select, USD or INR?
Also, how many dollars were deducted from the total amount when it reached IDFC Bank?

hi @hkedia321 , can I connect to you to speak about SWIFT transfer? Have you done this from deel? Because I think they used an indian intermediary bank for it. While adding the withdrawal method, had you added USD as currency or INR? I would really appreciate some support in this. It's been very confusing

Hi Annesha, sure, you can DM me

hi @hkedia321 how do I do that?

Hi Annesha, can you enable your private message?
I can then send you message.



Thanks for sharing the screenshot Harsh @hkedia321! @AnneshaM typically our newer members that just create their accounts don't have access to direct messages right off the bat as a security measure for our community members. However, I went ahead and enabled messages for you. Thanks Harsh for sharing your experience with members of our community. 


Thank you so much Cassy! I have written to you @hkedia321 

Hi @hkedia321 , 
Who will be taxed if I transfer from my Deel account directly to another person's bank account, is it them or I ?
I have started a thread here:
Tax implications if transferred to mother's bank a... - Deel Community - 5261

While local transfer is convenient (money is credited directly to your bank account in INR), it costs much more fees that swift transfers. 

@hkedia321 Could you elaborate on the above? Isn't it supposed to be zero charges (Deel) and exchange rate as per your bank's policy? I use IOB which gives the best rates.