US to India business payments.
US companies moving money to India have four real routes: SWIFT wires through correspondent banking, Wise business rails, contractor-payments platforms, or USDC to an off-ramp. Each has different cost, settlement, and paperwork. Plaitr routes across all of them from one account.
The four real routes from US to India
Every US company paying Indian vendors, contractors, or a subsidiary picks between four routes: correspondent-banking SWIFT wires, a Wise Business rail, a contractor-payments platform, or USDC to an Indian off-ramp. Each has a different cost, settlement time, and paperwork profile.
SWIFT via correspondent banking
The default at Chase, BoA, Wells Fargo. Costs $25–$50 in wire fees plus a 2–4% FX spread hidden in the exchange rate, plus correspondent-bank charges you don't see. Settles in 2–5 business days.
Wise Business
The default for SaaS companies paying Indian devs. Mid-market rate plus a disclosed 40–100 bps conversion fee. Next-business-day settlement. Generates the receipt records both sides need.
Contractor-payments platforms (Deel, Rippling, Wisemonk)
The default when the payment is payroll-adjacent. All-in cost is ~$19–$49/month plus 1–2% FX. Handles the classification and invoicing side, not just the payment. Right choice when you need employer-of-record structure, overkill when you don't.
USDC to an Indian off-ramp
The fastest and cheapest route when the counterparty accepts stablecoin settlement. Plaitr routes USDC to a licensed Indian partner off-ramp; INR credits the recipient's business bank account with FIRA attached. All-in cost 40–80 bps, settles same day.
Route selection by use case
| Use case | Recommended route | Why |
|---|---|---|
| Paying an Indian software vendor invoice | Wise Business or USDC via Plaitr | Low fees, clear paperwork on both sides |
| Paying an Indian contractor monthly | Wisemonk or USDC via Plaitr | Wisemonk for classification, USDC for cost |
| Funding an Indian subsidiary | SWIFT wire | FDI reporting requires banking rails |
| Paying a stablecoin-native counterparty | USDC via Plaitr | No FX, same-day settlement, low fees |
| One-off large payment ($100K+) | SWIFT (with negotiated FX) | Bank compliance easier than novel rails at size |
What Plaitr does that these routes don't
The four routes above solve the payment. Plaitr solves the banking around the payment — one US business account, multi-currency balances, and the ability to switch between SWIFT, Wise-style rails, and USDC from the same account with reconciled books. If you send US-to-India regularly and want one primitive instead of four, Plaitr is the account behind all four routes.
A US bank account for Indian exporters that holds USD, converts to INR at mid-market, and keeps your FIRA/EDPMS paperwork clean under RBI rules.
Related resources
How to open a US business account without an SSN
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USDC to INR business off-ramp guide for Indian exporters: RBI stance in 2026, VDA tax, partner comparison, and how Plaitr routes the flow end to end.
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Frequently asked
What's the fastest way to send business payments from the US to India?
For business-to-business payments, USDC to a Plaitr-supported off-ramp settles the same day for 40–80 bps. Wise Business next-day is roughly 1.4–1.8%. SWIFT via correspondent banking is 3–5 business days and 3–5% all-in. Speed and cost usually track together — pick the route that matches the invoice.
Can a US company pay Indian contractors in USDC?
Yes, provided the contractor has a way to convert USDC to INR through a licensed off-ramp. Plaitr routes the USDC and generates the 1099-adjacent records the US side needs, and the FIRA the India side needs. Confirm the contractor's off-ramp before agreeing on the payment method.
Does the US-to-India payment require an AD code?
An AD code is required on the Indian side for goods exports through Indian customs. It is not required for service exports or contractor payments. The US-side does not deal with AD codes at all — that's an Indian customs concept.
How does Plaitr handle Indian withholding on business payments?
Plaitr does not withhold Indian tax on inbound payments; the responsibility for TDS on business payments received in India lies with the Indian receiver and their CA, applied at the settlement leg. Plaitr generates the settlement record and purpose code needed to compute TDS correctly.
What if the Indian entity doesn't have a business bank account yet?
The Indian entity must have a current account with an AD Category-I bank before receiving inbound business payments. Plaitr can't create the Indian bank account, but our onboarding guide points to the specific documents partner banks in India accept for fast opening. Start there, then set up the US-to-India flow.