Payment methods to receive payments from foreign clients in a bank account in India.
Please note that the information provided below is from personal experience and may not same as what is listed on the website of the methods. This would help to decide which method is better in different scenarios.
|How is fund deposited?||Deposited ||Deposited to the Payoneer account and auto-withdrawn daily to an Indian Bank Account||Deposited to the Paypal account and auto-withdrawn daily to an Indian Bank Account|
|How much time is taken to get the fund in the bank account?||Within a day, sometimes within ||1 to 2 Days||2 to 15 days (There were instances where the fund was put on hold for verification and took around 15 days to get deposited)|
|How much transaction fee is charged?||Dynamic fee based on the amount to be transferred but the |
|How is the exchange rate to INR?|
|How much of a hassle is it for the client?|
|Can a client pay without signing up for an account?||No||No|
|What information to share with the client?||Full Name, Postal Address with Pincode, Bank Account with IFSC||Payoneer Email Address||Paypal Email Address|
|Which is recommended?||Recommended for business transaction for better conversion rates than Paypal||Recommended when no other method is feasible|
|Sign Up||Only the client needs an account, Create an Account||Create an Account||Create an Account|