Understanding FX Spread: The Hidden Cost Behind Currency Conversion
Have you ever sent money abroad or paid for something in another country only to find less money arrived than you expected? Or maybe an international payment took longer than a local one? This common frustration often points to a secret cost: the FX spread. The global money market is enormous. About $7.5 trillion moves […]
What Are Intermediary Banks, and Why Do They Eat into Your Payments?
Have you ever sent money across borders, only to find the recipient received less than expected? Or wondered why an international transfer sometimes takes longer than a local one? The answer often lies with intermediary banks—the unseen middlemen working behind the scenes of global financial transactions. These banks play a crucial role in moving money […]
Delay in Bank Realisation Certificate (BRC) – What to Do!
It’s crucial for Indian exporters to secure the Electronic Bank Realisation Certificate (E-BRC) as proof of payment from overseas buyers, which is essential for claiming export incentives and GST refunds. Delays in obtaining E-BRCs can significantly impact an exporter’s operations. This blog provides a comprehensive overview of common issues causing E-BRC delays and offers practical […]
How to Fix SWIFT Code Mismatch Errors
Working with international money transfers can be complicated. You might have issues sending or receiving money from abroad. This issue often occurs due to something called a SWIFT code mismatch error. Such errors can lead to longer waits, make you spend extra money, and be very frustrating. This guide will make it easy to learn […]
Managing International Trade: The Crucial Role of a Custom House Agent (CHA)
Global trade is central to the development of a nation. However, for most exporters, particularly newcomers to international trade, dealing with customs procedures and regulations can be extremely difficult. A Custom House Agent (CHA) or Customs Broker comes in handy at this point. What is a Custom House Agent (CHA) or Customs Broker? A CHA […]
TCS on Foreign Payments: An Essential Guide
The Indian government introduced Tax Collected at Source (TCS) on money sent abroad under the Income Tax Act, 1961. The main goal is to track funds leaving the country. It also helps reduce tax evasion on spending overseas. TCS is not an extra fee you lose. It acts like an advance tax. Your bank or […]
Understanding Nostro and Vostro Accounts in International Banking
When we talk about international banking, the terms Nostro and Vostro accounts might not be familiar to everyday customers. However, they play a key part in making cross-border money transfers work smoothly. These two terms – which come from Latin – actually refer to the same bank account, but seen from the viewpoint of two […]
Skydo Review: Understanding Fees and Exploring Alternatives
For Indian freelancers, consultants, and small businesses, successfully landing global clients is just one part of the equation. The subsequent process of receiving funds from abroad often introduces layers of complexity, including excessive fees, unfavorable exchange rates, and tedious compliance procedures. Identifying a payment platform that genuinely streamlines this process is not merely convenient—it’s essential […]
A Simple Guide to GST Refund Process for Exporters
If you’re an exporter in India, you’ve probably heard that you can get back the Goods and Services Tax (GST) you paid on the goods or services you sell abroad. This is because exports are treated as “zero-rated supplies” under GST. This means no GST is charged on the final export, but you can claim […]
What is DGFT: India’s Main Group for Import and Export Rules
For businesses actively engaged in cross-border trade involving India – whether through the export of goods and services or their import into the country – encountering the Directorate General of Foreign Trade (DGFT) is an inevitability. This governmental body holds significant sway over the mechanisms and policies governing India’s international trade. A comprehensive understanding of […]
Understanding ICEGATE: Your Complete Guide to Indian Customs Online
International trade inherently involves navigating customs procedures, a process often perceived as complex due to its intricate steps and extensive documentation requirements. For businesses engaged in the import or export of goods involving India, managing interactions with customs authorities is a fundamental necessity. To streamline these crucial processes, the Indian Customs Electronic Gateway (ICEGATE) has […]
FCL vs LCL Shipping – Which Container Strategy is Best for You?
Getting ready to ship your products across the big ocean? You’ll soon find yourself face-to-face with two major players in the container shipping industry: FCL and LCL. These are not just abbreviations; they are the two primary methods your freight moves in a shipping container. Both have their pros and cons. Knowing these differences is […]
