Doing business across borders is more common than ever. India, the most populous country in the world, is a huge part of that trade. Business owners with business partners in the United States will always need to send money there.

Here, I’ll tell you everything you need to know about transferring USD from India to a US-based business partner, and how Grey can simplify the process.

Can you send USD from India to a US business account?

Yes, Indian residents and businesses can legally send USD from India to a US business partner, but the process is regulated by the Reserve Bank of India (RBI) under the Liberalised Remittance Scheme (LRS). This framework governs how much money individuals and entities can send abroad, for what purposes, and through which channels.

If you’re an individual or sole proprietor, you can remit up to $250,000 per financial year for permissible transactions, including business payments.

Also read: India visa requirements for US citizens

Steps to send USD from your Indian bank account

1. Understand the purpose code

Before you initiate an international transfer, you’ll need to specify a valid RBI purpose code. This helps the bank understand what the payment is for. Common purpose codes include:

• P101: Business services
• P0301: Professional and consultancy services
• P0801: Software exports
• S0602: Other business services

Providing the correct code ensures compliance and avoids delays.

2. Prepare your KYC documents

Your bank will require:

• PAN card
• Aadhaar or Passport (for ID verification)
• Form A2 (declaration of remittance purpose)
• Invoice or agreement with your US partner (in many cases)

3. Visit your bank or initiate online

Most Indian banks like HDFC, ICICI, Axis, and SBI allow international transfers through their net banking platforms or branches. However, transfers are subject to:

• SWIFT charges
• Foreign exchange markups
• Processing delays (can take 2–5 business days)

4. Track your payment

After initiating the transfer, keep the SWIFT confirmation or Unique Transaction Reference (UTR) number. This helps your US partner track the incoming funds.

Also read: How freelancers in India can invoice abroad clients easily

Challenges with traditional USD transfers from India

While legal and possible, transferring USD through traditional banks can come with:

• High fees: Banks often add margins to the exchange rate, plus SWIFT and processing fees.
• Slow transactions: Bank transfers can take a long time to reflect in your partner’s account.
• Paperwork: Compliance requirements can vary between banks and add delays.
• Inflexibility: Many banks require physical visits, which can be inconvenient for remote workers and solopreneurs.

Why Grey is the smarter way to transfer USD internationally

If you’re looking for a faster, cheaper, and fully digital way to handle cross-border payments, Grey offers a much more flexible solution.

Instead of navigating the paperwork and delays of traditional banks, Grey lets you open virtual USD, GBP, and EUR accounts from India and use them to manage global transactions easily.

Here’s how Grey simplifies the process:

• Open a free virtual USD account in minutes without visiting a bank.
• Receive payments in USD, GBP, and EUR from international clients or business partners.
• Convert your funds into INR or send them directly to your US partner’s account.
• Low fees and real-time rates, so you avoid heavy markups and get better value.
• Fully digital onboarding, with KYC done in-app.

Also read: Best summer destinations in India for international travellers

How to send money with Grey from India to the US

Once you’ve received USD in your Grey account, you can send funds to your business partner in the US easily:

1. Log in to your Grey account (web or mobile).
2. Tap “Send”, then select the USD wallet.
3. Enter the recipient’s bank details in the US — including routing number, account number, and bank name.
4. Double-check the information, including the amount and any notes.
5. Confirm and authorise the transfer with your two-factor authentication (2FA).
6. Funds are delivered quickly.

No paperwork. No SWIFT delays. No surprise fees.

Why Indian freelancers and business owners choose Grey

Freelancers, startups, and remote teams in India increasingly rely on Grey to manage their international business for several reasons

• Multiple currency accounts: Hold and manage USD, GBP, and EUR without a physical bank abroad.
• International flexibility: Use Grey to send, receive, and convert currencies for partners or platforms like Upwork, Payoneer, and Fiverr.
• Compliance and transparency: Grey follows strict KYC and AML protocols, so your transactions are secure and legal.
• Local withdrawals: Easily convert USD to INR and withdraw to your Indian bank account anytime.

Also read: How to avoid scams when sending money to India

Sending USD from India to the US doesn't have to involve multiple forms, hidden charges, or long waits. Whether you're a business owner making regular payments or a freelancer working with global clients, Grey helps you handle cross-border transfers the smart way — securely, efficiently, and with full control.

Create your Grey account today or download the app to enjoy inclusive global banking, designed to carry your dreams across borders.

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