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HDFC Bank Ltd.

Research notes as of 05 Oct 2026, not legal or tax advice. VERIFIED means we read the primary source, REPORTED means secondary sources only, and UNCERTAIN means the law or practice is unclear. Ask your bank or a CA before acting on uncertain points.

How to file with HDFC Bank Ltd.

From the bank's published export policy and other sources, checked 2026-10-04. Banks are still settling their procedures, so confirm with your branch.

How to submit

  • Trade Desk at the HDFC Bank branch verified

    Policy: 'Documents may be submitted at the Trade Desk of your respective HDFC Bank Branch or through digital channel.' Case-specific queries go to the branch Trade Desk or Relationship Manager.

    Source

  • HDFC 'digital channel' / Digital Platform (unnamed in policy; TradeOnNet is HDFC's known trade portal) reported

    The policy says 'digital channel' and the cross-border framework gives a 3:00 PM cut-off for 'documents submitted through the Digital Platform'. Neither document names the portal or says retail/individual customers can use it.

    Source

  • Relationship Manager verified

    Named as the contact for case-specific requirements.

    Source

Documents the bank may ask for

  • Export Declaration Form (EDF) for services, where the bank is the Specified Authority verified
  • Commercial invoice verified
  • Disposal instruction at the time of the inward receipt, with the relevant purpose code verified
  • Third-party payer details on the EDF, plus a tri-partite agreement or invoice/contract naming the third party, if someone other than the overseas buyer pays verified
  • Evidence of service delivery (if applicable), application form/request letter (cross-border framework, open-account regularisation) verified
  • Valid, active IEC: the FEMA 23(R) policy requires it 'for undertaking transactions for export of goods'. The cross-border framework (17 Sep 2026) says IEC is required 'for processing all export transactions'. verified
IEC needed?
Not confirmed. Ask your bank
Timing
EDF within 30 days from end of invoice month. For non-software services, alternatively on or before the date payment is received. Same-day processing on a best-effort basis for documents submitted by 3:00 PM.
Charges
Not specified for the EDF. Policy links to https://www.hdfc.bank.in/fees-and-charges/fees-and-charges-sme (JS-rendered; amounts not read). Wise blog (Mar 2025) reports FIRC at INR 200 + 18% GST (REPORTED).
FIRA / FIRC
Retail FIRC/FIRA on request. Wise blog (24 Mar 2025) reports INR 200 + 18% GST per certificate and disposal instructions via NetBanking (REPORTED). Not confirmed on an HDFC page this session.
Declaring the purpose code
Disposal instruction with the purpose code (policy). HDFC publishes a NetBanking 'List of permissible Inward Remittance Purpose Code and Declaration Formats' (PDF; blocked to scripted fetch, REPORTED). Documents for inward purpose codes 'need to be submitted to HDFC Bank branch' (cross-border framework).

Recommendations

  • Before you file, check IEC with the branch Trade Desk. HDFC's 17 Sep 2026 cross-border framework says a valid IEC is required 'for processing all export transactions'. Its FEMA 23(R) policy limits this to export of goods. If the branch insists, get a free IEC on DGFT using your PAN.
  • Ask your branch or RM to enable the 'digital channel' (HDFC's trade portal) for your customer ID. If that is not possible for a savings account, submit the monthly EDF with your invoices at the branch Trade Desk before 3:00 PM.
  • Declare the purpose code (e.g. P0802/P0807/P1006) through NetBanking's inward remittance purpose/declaration option when prompted, or with a signed disposal instruction at the branch.
  • For INR credits from a PA-CB (Wise Business, Skydo, Razorpay MoneySaver, Xflow, BriskPe, etc.) keep the provider's FIRA/e-FIRC and attach it with the invoice when the bank asks for realisation evidence.
  • For invoices up to INR 10 lakh, the EDPMS entry can be closed on your declaration (quarterly bulk declaration allowed). Ask the bank for its declaration format.

The bank's export policy (FEMA 23(R)/2026, Reg. 19 disclosure)

Payment services that settle through HDFC Bank Ltd.

  • Skydo (Skydo Technologies Pvt Ltd) · EDF goes to: own_bank

Sources