Bank holding your foreign payment? What to do

Last reviewed 17 Oct 2026. First published 17 Oct 2026. By the ExportKhata team (editorial policy).

Short answer

Ask the bank, in writing, exactly what it needs to credit the payment.
Send the invoice, contract or PO, remittance advice and an EDF in the bank's format, in one email.
If you're late, ask for an extension under Regulation 3(2)(c).
Escalate to the bank's nodal officer, then the RBI Ombudsman, if nothing moves.

RBI FAQ status: not published as of 17 Oct 2026 (checked on rbi.org.in). No suspension of EDF filing has been announced.

Step by step

Get the reason in writing. Ask the branch or forex desk to email you the specific documents they need and the remittance reference. Verbal answers vary.
Gather one pack. Invoice; contract, PO or engagement email; remittance advice or FIRA; the purpose code you used; your PAN; and an EDF in the bank's own format if it has one.
Send it in one email to the address the bank gives you, with the remittance reference in the subject line.
Late for the month? Ask for more time citing Regulation 3(2)(c), which lets the bank extend the EDF deadline on a reasoned request.
Invoice up to ₹10 lakh? Offer the declaration that payment was realised, so the bank can close the EDPMS entry.
No reply in a reasonable time? Use the bank's grievance channel and nodal officer. If that fails, file with the RBI Integrated Ombudsman, subject to the scheme's conditions.

Email template

Subject: Inward remittance [reference no.], documents for credit

Dear Sir/Madam,

An inward remittance of [currency + amount] dated [date],
reference [ref no.], from [client name, country] is pending
credit to my account ending [last 4 digits].

It is payment for [software development / design / consulting]
services under invoice [no.] dated [date]. Attached:
1. Invoice
2. Contract / purchase order / engagement email
3. Remittance advice / FIRA
4. EDF for [month] in your format

Please confirm in writing if anything else is required, and
the expected date of credit.

Regards,
[Name], PAN [XXXXX1234X], [phone]

What freelancers report (unverified)

These are individual reports on X between 6 and 16 Oct 2026, not official policy. They show that practice differs by bank and branch.

Some report the payment was credited within hours of submitting the EDF; others report waiting days.
Some branches ask for an EDF before crediting each payment; others ask monthly.
One user reports a remittance withheld for lack of a written contract when the work was PO-based.
Users report that payment platforms and banks sometimes point to each other for the EDF.

We don't list bank fees for EDF processing because we could not verify them. Ask your bank for its schedule of charges.

Questions

My bank is holding my foreign payment for an EDF. Is that allowed?

The Regulations say a bank credits export proceeds only after satisfying itself that the transaction is genuine, and closes the EDPMS entry at the same time. Asking for documents is within that. Ask for the exact list in writing.

What documents should I send the bank?

Usually the invoice, the contract, purchase order or engagement email, the remittance advice or FIRA, and the EDF in the bank's format. The bank decides what it needs.

Where can I complain if the bank doesn't respond?

First the bank's grievance channel and nodal officer. If that fails, the RBI Integrated Ombudsman at cms.rbi.org.in, subject to the scheme's conditions.

Related: EDF FAQ, EDF checker.

Sources

RBI, FEMA (Export and Import of Goods and Services) Regulations, 2026, FEMA 23(R)/2026-RB, amended to 22 Sep 2026: www.rbi.org.in
Economic Times, 7 Oct 2026: RBI says individuals need not report; FAQs to follow: economictimes.indiatimes.com
Mint: RBI clarifies what freelancers and small exporters need to report: www.livemint.com
RBI Integrated Ombudsman complaint portal: cms.rbi.org.in