As a merchant or a freelancer who receives international payments from customers, Foreign Inward Remittance Certificate/ Advice (FIRC) is an important document to have.
We at PayPal, have been working hard to make the process of acquiring FIRC faster, simpler and cheaper for you. In that journey, we are happy to announce that we have automated the process of acquiring this document with our newly launched Monthly Digital FIRC.
Starting February 2021, you will be able to download an automatically generated FIRC every month, right from your PayPal business account, and most importantly- for free!
We continue to provide you with other options to access this important document.
Tired of manual requests, long waiting queues at banks and high costs? We’ve heard you!
As a PayPal merchant, you will now be able to download your Monthly Digital FIRC directly from your PayPal Business account every month at no cost. The process is completely automated, so you need not place any request for acquiring this important document. Your Monthly Digital FIRC will be available for download by 15th of every subsequent and will have reference to all your previous month’s foreign inward transactions done via PayPal. When the Monthly Digital FIRC is ready to be downloaded, we will notify you via your registered email address.
Here’s how you can download your Monthly Digital FIRCs
Please note: The Monthly Digital FIRC is available from February 2021. For transactions prior to February 2021 and individual FIRC requests, please place a Custom FIRC request.
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.
Do I need to pay to receive my Monthly FIRC from PayPal?
How will I know if my Monthly FIRC is ready to download?
What is the process to download Monthly FIRC
What is the frequency in which the FIRC can be downloaded?
Will I required to download multiple Monthly FIRC for multiple transactions?
How many transactions will be covered in one Monthly FIRC?
If I need FIRC only for one PayPal transaction out of many transactions in a day, can that be done? How can that be done?