u/devildaniii

Hey everyone, I really need some help or guidance here.

I run a B2B SaaS company in India, scaled the company to ~$350k ARR and decided to registered a company. The company registeration process is now completed.

I have been consuming services/servers from various providers outside of India which requires monthly payments in USD (these services are not at all replacable with any Indian providers so please no solutions related to shifting the providers)

Because of the nature of our work, we need to make frequent payments — sometimes bi-weekly ($3k), and sometimes montly (~$5-8k). The services does not have a fixed payment it depends based on the usage and our requirements.

So far I used pay all payments via my credit card because it had 0 forex markup. Now after company registeration, I do understand that I cannot use that option anymore and I need to use my company account for everything.

I spoke to IDFC First Bank representative, but they said for every single international payment (even $1), I need paperwork and a CA certificate. Along with that using debit card is not an option at all (he strictly said no that it is not at all possible, he mentioned if I use debit card I will face a lot of issues at later stages with compliances). On top of it they also mentioned whatever payments I make I need to first get the Vendor approved by bank everytime vefore making any transactions. Only route they suggested was do wire transfer for the services.

Since debit card is out of picture, my problem is how do I do payments now specially for the subscriptions that I have. It is practically impossible to do transactions each week and the manual work seems very tedious. Plus not using debit cards take a lot of options out like Paypal, etc. I can use Paypal to pay in INR but then they charge more than 4% forex markup, which makes it not sustainable in long-term.

I chose IDFC First Bank since they offer lowest forex markup from my research. Even when I went there they offered best currency conversion rates as well as lowest forex markup. But the other terms and conditions are a deal breaker for me. But I am not sure which bank to choose.

Also is he right about using debit cards for international payments will really cause major issues if I use it for USD payments?

Is anyone here running a business in India and making similar, frequent international payments?

If yes, how are you managing it? Which bank do you use.

Would really appreciate any advice or real-world experience. This will become a major bottleneck for us.

Is it this hard to do payments in USD, like when I was not a registered company and just an indvidual running a company it was way easier while I understand it is difficult for businesses but I never thought it would be this difficult. Any advise and guidance is appreciated.

Thanks in advance 🙏

Hey everyone, I really need some help or guidance here.

I run a B2B SaaS company in India, scaled the company to ~$350k ARR and decided to registered a company. The company registeration process is now completed.

I have been consuming services/servers from various providers outside of India which requires monthly payments in USD (these services are not at all replacable with any Indian providers so please no solutions related to shifting the providers)

Because of the nature of our work, we need to make frequent payments — sometimes bi-weekly ($3k), and sometimes montly (~$5-8k). The services does not have a fixed payment it depends based on the usage and our requirements.

So far I used pay all payments via my credit card because it had 0 forex markup. Now after company registeration, I do understand that I cannot use that option anymore and I need to use my company account for everything.

I spoke to IDFC First Bank representative, but they said for every single international payment (even $1), I need paperwork and a CA certificate. Along with that using debit card is not an option at all (he strictly said no that it is not at all possible, he mentioned if I use debit card I will face a lot of issues at later stages with compliances). On top of it they also mentioned whatever payments I make I need to first get the Vendor approved by bank everytime vefore making any transactions. Only route they suggested was do wire transfer for the services.

Since debit card is out of picture, my problem is how do I do payments now specially for the subscriptions that I have. It is practically impossible to do transactions each week and the manual work seems very tedious. Plus not using debit cards take a lot of options out like Paypal, etc. I can use Paypal to pay in INR but then they charge more than 4% forex markup, which makes it not sustainable in long-term.

I chose IDFC First Bank since they offer lowest forex markup from my research. Even when I went there they offered best currency conversion rates as well as lowest forex markup. But the other terms and conditions are a deal breaker for me. But I am not sure which bank to choose.

Also is he right about using debit cards for international payments will really cause major issues if I use it for USD payments?

Is anyone here running a business in India and making similar, frequent international payments?

If yes, how are you managing it? Which bank do you use.

Would really appreciate any advice or real-world experience. This will become a major bottleneck for us.

Is it this hard to do payments in USD, like when I was not a registered company and just an indvidual running a company it was way easier while I understand it is difficult for businesses but I never thought it would be this difficult. Any advise and guidance is appreciated.

Thanks in advance 🙏

Hey everyone, I really need some help or guidance here.

I run a B2B SaaS company in India, scaled the company to ~$350k ARR and decided to registered a company. The company registeration process is now completed.

I have been consuming services/servers from various providers outside of India which requires monthly payments in USD (these services are not at all replacable with any Indian providers so please no solutions related to shifting the providers)

Because of the nature of our work, we need to make frequent payments — sometimes bi-weekly ($3k), and sometimes montly (~$5-8k). The services does not have a fixed payment it depends based on the usage and our requirements.

So far I used pay all payments via my credit card because it had 0 forex markup. Now after company registeration, I do understand that I cannot use that option anymore and I need to use my company account for everything.

I spoke to IDFC First Bank representative, but they said for every single international payment (even $1), I need paperwork and a CA certificate. Along with that using debit card is not an option at all (he strictly said no that it is not at all possible, he mentioned if I use debit card I will face a lot of issues at later stages with compliances). On top of it they also mentioned whatever payments I make I need to first get the Vendor approved by bank everytime vefore making any transactions. Only route they suggested was do wire transfer for the services.

Since debit card is out of picture, my problem is how do I do payments now specially for the subscriptions that I have. It is practically impossible to do transactions each week and the manual work seems very tedious. Plus not using debit cards take a lot of options out like Paypal, etc. I can use Paypal to pay in INR but then they charge more than 4% forex markup, which makes it not sustainable in long-term.

I chose IDFC First Bank since they offer lowest forex markup from my research. Even when I went there they offered best currency conversion rates as well as lowest forex markup. But the other terms and conditions are a deal breaker for me. But I am not sure which bank to choose.

Also is he right about using debit cards for international payments will really cause major issues if I use it for USD payments?

Is anyone here running a business in India and making similar, frequent international payments?

If yes, how are you managing it? Which bank do you use.

Would really appreciate any advice or real-world experience. This will become a major bottleneck for us.

Is it this hard to do payments in USD, like when I was not a registered company and just an indvidual running a company it was way easier while I understand it is difficult for businesses but I never thought it would be this difficult. Any advise and guidance is appreciated.

Thanks in advance 🙏