Running a 50-person contractor payroll in India in one batch

Short answer. Build the list once — name, bank, account number, default amount — then each pay cycle is: open Run Payroll, confirm or edit the amounts (or upload a CSV), check the rupees figure on each line, and confirm. Storspay sends fifty separate transfers over IMPS or NEFT, usually within minutes, each with the recipient's own reference and notification, and charges one fee line of 1% on the total.

The list

Each recipient is added once: name as it appears on the account, bank (HDFC Bank, ICICI Bank, State Bank of India), account number, role, default amount and currency. Storspay verifies every account name with the bank at the moment you add it, so the list is clean before the first payroll.

The run

Open Run Payroll, pick the recipients, type amounts in dollars or rupees per line (or upload a CSV with name, country, bank, account, amount, currency — bad rows are named, not silently dropped). The footer shows the count, the subtotal, the 1% and the total charged. Review, confirm, done. Each person gets their own transfer and their own notification; your statement shows every line with its reference.

What happens if one fails

If one account rejects the credit — closed, frozen, mistyped — that one payment is returned to your balance with the reason, the other forty-nine are unaffected, and you fix the one line and resend. Nothing is held hostage to the slowest bank.

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

Is there a limit on batch size?

No practical limit. Large individual amounts are split under the local cap automatically under one reference.

Can I mix India with other countries in one run?

Yes. One batch can pay India at 1% and Nigeria, Kenya or Mexico at 2%, each line in its own currency, one total.

Can the batch be scheduled?

Yes — set it to run on the 1st and 15th, or any dates you choose, from your balance, with the same references.

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.