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Every transfer of funds from your PayPal account will require a separate FIRC. Watch this space for improvements in the FIRC process.

Every transfer of funds from your PayPal account will require a separate FIRC. Watch this space for improvements in the FIRC process.

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Proof of foreign inward remittances.

A Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all inward remittances and payments received in India from abroad. Most statutory authorities accept this document as proof that an individual or a business, such as a limited company, partnership firm, sole proprietorship firm and others, has received a payment in foreign currency from outside the country.

Request a FIRC /Advice for every money transfer.

Every cross border payment you receive through PayPal into your bank account will require a separate FIRC. Contact the bank where your PayPal withdrawals are credited to request a FIRC and a letter addressed to Citibank with the following information:

  • Unique Transaction Reference number (UTR)
  • Customer name
  • Account number
  • Amount of money
  • Date and purpose of the payment

We recommend that the letter also mention that the payment was received through PayPal. You can refer to a sample request letter here. Please also inform your bank of the postal address you want the certificate(s) to be delivered to.

Questions and Answers

What is a Unique Transaction Reference number and how can I find it?

The UTR number can be found on your bank statement beside each payment received through PayPal. In the example below, the reference number for the deposit from the sample PayPal credit of INR 151.49 is CITIN12198884488

Figure: Sample image of PayPal credit with n-EFT reference number (UTR number) in bank statement

Is there a fee for the FIRC /Advice ?

For requests up to 20 transactions, FIRC/Advice will be priced on a per transaction basis at 100 INR
For requests more than 20 transactions, Citibank will issue a bulk FIRC/Advice and will be priced at 2000 INR
For merchants with a Citibank account, this fee will be automatically deducted from the bank account. 18% GST will be applicable.
Merchants without a Citibank account will be required to submit a Demand Draft of the fee amount in favour of ‘CITIBANK INDIA NA FIRC CHARGES’, payable at Mumbai together with the FIRC request letter. No GST is applicable for merchants sending a Demand Draft.
Note: The GST rate can change from time to time. Please check the applicable tax rate at the time of creation of Demand Draft.

Who pays this fee?

You (the merchant) will need to pay the fee.

How long does it take?

The time taken to process the FIRC/Advice by Citibank is:
Citi account holders: 3 working days
Non-Citi account holders: 7 working days

Please note that the duration mentioned is the processing period and does not include the time taken to ship the documents from your bank to Citibank and back.

Who contacts Citibank with the request for the FIRC/Advice and fee?

Either you or your bank need to send the FIRC/Advice requests along with a demand draft to the nearest Citibank corporate branch. Citibank will then issue the FIRC/Advice and courier them to the address you have provided. You can find the list of Citibank corporate branch locations here.

The current FIRC/Advice format is not accepted by my bank. What should be done in such a scenario?

The FIRC/Advice format issued by Citibank is compliant with the OPGSP guidelines of RBI dated 2015 & other associated guidelines. You may request your bank to refer to these guidelines.