Every international payment has two clocks. One tracks when your money lands. The other — quieter, more stubborn — tracks when your **FIRC** finally arrives. The first clock decides your cash flow. The second decides your compliance. Most Indian freelancers and exporters only discover that second clock when their accountant asks, “Where’s the FIRC for this payment?”
And that’s when the real wait begins.
Some get it in hours. Some in days. Some in polite follow-up loops that stretch into weeks. So let’s decode how long each system really takes — “Bank Wires”, “Wise”, and “Payoneer” — and why that invisible timeline matters more than most people realize.
Why FIRC Delays Hurt More Than You Think
A “Foreign Inward Remittance Certificate (FIRC)”is proof that your payment from abroad actually entered India through official banking channels. You need it for income tax filings, GST refunds, and export compliance.
Without it, your earnings are just numbers in a bank statement — not officially “export income.”
That’s why every day your FIRC is delayed, your documentation, tax filings, and audit cycles freeze in place.
FIRC isn’t about paper; it’s about proof. And some systems treat that proof better than others.
Explore our detailed guide on How Export Payment Delays Impact Cash Flow
The Three Common Routes
| Platform | How You Get Paid | Who Issues FIRC | Typical Time | Documentation Type |
|---|---|---|---|---|
| Bank Wire | Client sends via SWIFT | Your bank’s trade desk | 5–15 working days | Physical or email PDF |
| Wise | Client pays into Wise’s local account | Partner bank (HDFC/Yes Bank) | 1–3 working days | e-FIRC |
| Payoneer | Marketplace or direct client payout | Partner bank (Yes Bank) | 3–7 working days | e-FIRC (on request) |
Each claims to be “fast.”Only one or two deliver consistently.
Bank Wire — The Slow Lane of Compliance
When a client pays you via traditional SWIFT wire, the money travels through a chain of correspondent banks before reaching your Indian account. Each bank in the chain has its own reporting obligations — and that means your FIRC has to be manually generated and verified by your “Authorised Dealer (AD) Bank”
The Process
1. Client sends funds.
2. Your bank receives them.
3. Trade operations locate your reference.
4. Compliance teams issue a physical or PDF FIRC (sometimes after you email a request).
Average FIRC Timeline: **7–15 business days
Even after you get the certificate, it often reflects only partial details or missing purpose codes; which means one more round of emails with your RM.
Verdict: reliable but painfully slow. You get the payment; the proof takes its time.
Wise — Digital Rails, Faster Paperwork
Wise (formerly TransferWise) routes payments differently. Your client pays into Wise’s local account abroad, Wise converts the amount at a near-market rate, and an Indian partner bank like HDFC or Yes Bank credits INR to your account. That partner bank automatically generates an e-FIRC once the funds settle. You receive a downloadable link or email notification within a couple of days — no manual requests.
Average FIRC Timeline: **24–72 hours
| Step | Action | Typical Delay |
|---|---|---|
| Client pays Wise account | Same day | — |
| Wise settles INR | +1 day | — |
| Partner bank issues e-FIRC | +1 day | — |
Verdict: smooth and predictable, though occasional FIRC delays still happen during weekends or high-volume periods.
Payoneer — Marketplace-Friendly, Compliance-Slow
Payoneer’s workflow depends on who sent the money.If it’s from a connected marketplace (Upwork, Fiverr, Amazon), the payment enters Payoneer’s USD or EUR wallet, converts to INR via Yes Bank, and settles to your account.
The FIRC is technically auto-issued, but you often have to **log in and request it manually** through Payoneer’s dashboard. Support queues, especially during quarter-end periods, can push timelines further.
Average FIRC Timeline: **3–7 business days
| Step | Action | Typical Delay |
|---|---|---|
| Client/Marketplace sends funds | Instant | — |
| Payoneer converts to INR | +1–2 days | — |
| Bank (Yes Bank) issues e-FIRC | +2–5 days | — |
Verdict:- good system for marketplace freelancers, but too slow for businesses that need predictable compliance cycles.
Why FIRC Speed Matters for Businesses
A delayed FIRC doesn’t just slow paperwork — it locks working capital. Your export income technically exists, but legally it’s still “in transit.”
The Compliance Timeline Comparison
| Platform | FIRC Issuer | Average Time | Ease | Follow-Up Needed |
|---|---|---|---|---|
| Bank Wire | Your AD Bank | 7–15 days | Low | High |
| Payoneer | Partner Bank | 3–7 days | Medium | Occasional |
| Wise | Partner Bank | 1–3 days | High | Rare |
| HiWiPay | RBI Partner Bank | Same day–48 hrs | Very High | None |
When you view payments through the compliance lens, speed becomes more than convenience — it’s credibility.
The Automation Advantage — Fintech’s Hidden Power
Fintech platforms like HiWiPay have turned FIRC generation into a built-in process, not an afterthought.Every transaction automatically logs its purpose code, generates an e-FIRC once settled, and archives it under your export documentation folder.
No forms. No RM calls. No “still processing” messages. In less than 48 hours, your money and your compliance move in sync.
Verdict — The Real Currency Is Time
Everyone focuses on how fast the payment arrives.The smarter question is how fast you can *prove* it arrived.Wise and Payoneer made getting paid easier.Banks made it official — but painfully slow.Fintechs like HiWiPay closed the loop, making compliance as fast as payment itself.
Because in modern trade, the transaction isn’t complete when the money lands — it’s complete when the FIRC does.
In Summary
Bank wires get you the money.Wise gets you the rate.Payoneer gets you the network.
**HiWiPay** gets you everything — the funds, the FIRC, and the peace of mind, all within 48 hours.
HiWiPay automates purpose codes, e-FIRC, and BRC generation — delivering faster, fully RBI-compliant settlements for Indian exporters, IT companies, and freelancers.
No follow-ups, no missing certificates, no wasted time.
Up next: “HiWiPay vs Payoneer” — Which Platform Truly Delivers Faster, Verified Export Receipts.
