How to pay a team in India from the US, Canada, the UK or Europe (2026 guide)

Short answer. You add the Indian recipient once, type the amount in dollars or rupees, and Storspay delivers rupees to their bank account — HDFC Bank, ICICI Bank, State Bank of India — at the mid-market rate for 1% all-in (minimum US$2), usually within minutes. A bank wire for the same payment costs 5–7% once the FX spread is counted and takes three to five days.

Who pays teams in India — and what goes wrong with wires

Businesses in North America, the UK and Europe pay software development shops, IT services firms, design and marketing agencies, BPO and KPO teams, pharmaceutical and machinery exporters, textile and garment manufacturers in India, concentrated in Bengaluru, Hyderabad, Pune, Mumbai, Chennai and Delhi NCR. Most of them still do it by international wire: the sending bank charges a fee, a correspondent bank takes a cut in the middle, the receiving bank converts at a rate nobody saw in advance, and the recipient gets a number that does not match the invoice — three to five days later.

Storspay removes the chain. You fund a balance in your own currency, Storspay converts once at the mid-market rate and delivers rupees over IMPS or NEFT. The 1% is the only cost and it is shown before you confirm. The recipient receives what the invoice says.

What is different about India

India is the largest market for remote professional services on earth and a bank-first corridor: every salaried professional and every registered company has an IFSC-coded bank account, and domestic rails (IMPS, NEFT) clear in minutes. What matters to an Indian recipient is the rupee amount that actually lands, because wires from the US or Europe routinely arrive short after correspondent-bank charges and a hidden FX spread. Storspay converts once at the mid-market rate and shows the 1% separately, so the rupee figure in the notification is the figure in the account.

How a payment to India works on Storspay

1. Fund your balance in USD (ACH or wire), CAD (Interac e-Transfer or EFT), GBP (UK bank transfer) or EUR (SEPA) — to account details in your own business name. Funding is free.
2. Add the recipient once: their name as it appears on the account, the bank (HDFC Bank, ICICI Bank, State Bank of India, Axis Bank, Kotak Mahindra and every other IFSC-coded bank) and the account number. Storspay checks the account name before you confirm.
3. Type the amount in either box. Enter what you want to send and see the rupees that land, or type the rupees figure on the invoice and see what it costs you. The rate is the mid-market rate; the 1% is on its own line.
4. Confirm. The money goes over IMPS or NEFT and usually lands within minutes — the same business day at most. The recipient gets a notification with the exact amount, and you get a receipt with the invoice reference.

Nobody in India has to sign up, install an app or touch anything other than their own bank account. Everything on the recipient side looks like an ordinary domestic transfer.

What it costs

Storspay charges 1% all-in on payments to India, with a minimum of US$2, at the mid-market rate. That one line covers conversion, settlement and delivery; there is no FX markup, no intermediary-bank charge and nothing deducted on the recipient side.

Rates in this guide are the mid-market rate on the day of writing (1 USD = 96.9643 INR); the calculator on the homepage shows today's. Payments above ₹1,500,000 are split automatically under the local cap, under one reference and one fee.

See what your team in India receives →

Questions businesses ask before the first payment to India

Can I pay several people in India at once?

Yes. Run Payroll takes a batch — type each amount, or upload a CSV — and shows one fee line and one total. Each person receives their own transfer and their own notification.

Do I have to pay in US dollars?

No. Fund in USD, CAD, GBP or EUR; Storspay converts once at the mid-market rate from whichever balance you choose and the recipient sees only rupees.

What does the recipient see?

A domestic credit from a local bank, a notification from Storspay with the exact amount and your reference, and nothing to sign up for.

Can I pay a UPI ID instead of an account number?

Not yet. Storspay pays Indian bank accounts by account number and IFSC code; UPI handles are on the roadmap. Every UPI-linked account has an ordinary account number you can use today.

Is there a limit per payment to India?

Payments above ₹1,500,000 are split automatically under the local cap, under one reference and one fee — a large invoice never becomes several trips to the bank.

Does the recipient pay anything?

No. Storspay charges you 1% all-in (minimum US$2); the recipient receives the rupee amount shown. Their bank may apply its own inward-remittance charge for issuing an FIRC — ask them, it is usually a few hundred rupees.

Who this is for — and who it is not for

Storspay is for businesses and organisations: companies, agencies, schools, hospitals, facilitators, foundations and sole traders paying other businesses and professionals for work, goods and services. A sole trader counts as a business and signs up in their own name.

What Storspay is not is a personal money-transfer service. We do not open personal accounts, and every payment has to be a business transaction: an invoice, a contract, a fee note, work delivered. Money to family and personal transfers are not what this is, and we would rather say so now than at verification.