{"id":16441,"date":"2024-06-24T14:24:46","date_gmt":"2024-06-24T08:54:46","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=16441"},"modified":"2025-02-26T10:55:51","modified_gmt":"2025-02-26T05:25:51","slug":"razorpay-moneysaver-export-account-freelancers","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/razorpay-moneysaver-export-account-freelancers\/","title":{"rendered":"Freelancing Made Easy: Razorpay Launches MoneySaver Export Account for 15 million Indian Freelancers"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In today&#8217;s interconnected world, freelancers in India are increasingly finding opportunities to work with clients from around the globe. As per several industry <\/span><a href=\"https:\/\/economictimes.indiatimes.com\/jobs\/mid-career\/factors-that-make-highly-qualified-people-choose-freelance-careers-over-one-off-gigs\/articleshow\/102071660.cms?from=mdr\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">reports<\/span><\/a><span style=\"font-weight: 400;\">, the number of Indian freelancers rose to a whopping 15 million in 2020. In 2022, the number of tech companies hiring freelancers grew to 65%, as compared to 57% in 2020.\u00a0 Whether you&#8217;re a web developer collaborating with a startup in Silicon Valley or a content writer contributing to publications in Europe, receiving payments from international clients can sometimes be a hassle. From high transfer charges to complex processes, traditional methods often leave freelancers grappling with unnecessary challenges while receiving <\/span><a href=\"https:\/\/razorpay.com\/blog\/guide-to-international-payments\/\"><span style=\"font-weight: 400;\">international payments<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But fret no more!<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\">Sign up today!<\/a><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Razorpay is proud to launch a solution tailored just for our Indian Freelancers \u2013 the <\/span><a href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\"><span style=\"font-weight: 400;\">MoneySaver Export Account<\/span><\/a><span style=\"font-weight: 400;\">, designed to simplify the international payment experience for freelancers, ensuring seamless receipt of payments from clients across the globe. With this innovative solution, freelancers can bid farewell to the complexities of traditional remittance systems and embrace a hassle-free way of accepting international payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But first, let\u2019s understand the significant challenges freelancers face in detail below:<\/span><\/p>\n<p><b>The Complexity of International Payments for Freelancers<\/b><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-16443\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2024\/06\/MoneySaver-GTM-24th-June-2027-3-1024x536.png\" alt=\"\" width=\"770\" height=\"403\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/06\/MoneySaver-GTM-24th-June-2027-3-1024x536.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/06\/MoneySaver-GTM-24th-June-2027-3-300x157.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/06\/MoneySaver-GTM-24th-June-2027-3-768x402.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/06\/MoneySaver-GTM-24th-June-2027-3-1536x804.png 1536w\" sizes=\"auto, (max-width: 770px) 100vw, 770px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fragmented Payment Modes:<\/b><span style=\"font-weight: 400;\"> The available payment modes for export payments are fragmented and intricate, making it challenging for freelancers to navigate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High SWIFT Charges:<\/b><span style=\"font-weight: 400;\"> Approximately 50% of cross-border payments to exporters rely on International Bank Transfers, incurring substantial SWIFT charges. For every $200 remitted internationally, $13 is spent on these fees, leading to significant financial implications.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Costly Card Payments:<\/b><span style=\"font-weight: 400;\"> Card payments exacerbate the financial burden on freelancers due to their expensive fees, further limiting payment options.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Limited Support from Indian Payment Gateways: <\/b><span style=\"font-weight: 400;\">Most Indian PGs do not support international payments for individuals, <\/span><span style=\"font-weight: 400;\">forcing freelancers to seek alternatives like international payment gateways, <\/span><span style=\"font-weight: 400;\">which come with their expenses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cumbersome Direct Deposits: <\/b><span style=\"font-weight: 400;\">Freelancers often resort to accepting payments directly into their Indian accounts, which is a cost-ineffective and time-consuming process.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Complex Transaction Processes: <\/b><span style=\"font-weight: 400;\">Reports highlight the need for multiple visits to bank branches for a single global B2B transaction, adding layers of complexity and inefficiency.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>Revolutionize your Freelance Finances with the <a href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\">Razorpay MoneySaver Export Account<\/a><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Razorpay introduces the MoneySaver Export Account &#8211; India\u2019s first Smart Account to offer 50% savings on <\/span><a href=\"https:\/\/razorpay.com\/blog\/a-comprehensive-guide-to-international-wire-transfers\/\"><span style=\"font-weight: 400;\">International bank transfers<\/span><\/a><span style=\"font-weight: 400;\"> for exporters and 100% free for International customers, on all bank transfer transactions. With this innovative offering, freelancers can seamlessly open a MoneySaver Export Account in their preferred country and accept payments locally via bank transfers through the Razorpay platform. This smart account is available across key markets such as the US, UK, Canada, Australia, and Europe, allowing freelancers to leverage preferred banking networks like ACH (USA), SEPA (Europe), SWIFT, FPS (UK), and more for collecting payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, what sets the <a href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\">MoneySaver Export Account<\/a> apart? Let&#8217;s delve into its key features:<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Built for Freelancers<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Razorpay understands the unique challenges faced by freelancers. We&#8217;ve created the MoneySaver Export Account specifically to address your needs for a simple, affordable, and secure way to receive payments from international clients.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Say Goodbye to Hidden Fees and Hello to Transparency<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Unlike traditional wire transfers with their exorbitant fees and hidden charges, the MoneySaver Export Account offers a transparent pricing structure. You&#8217;ll know exactly what you&#8217;re paying upfront, with no surprise deductions.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>International Payments Made Easy<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Imagine receiving international payments with the same ease as domestic transfers. That&#8217;s the magic of the MoneySaver Export Account. Your clients can pay you in their local currency, eliminating the hassle of currency conversion for them. The funds are then seamlessly deposited into your Indian bank account.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Seamless Compliance and Account Creation<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Fully compliant with RBI regulations, the account requires a quick <\/span><a href=\"https:\/\/razorpay.com\/blog\/international-payments-razorpays-video-kyc\/\"><span style=\"font-weight: 400;\">Video KYC<\/span><\/a><span style=\"font-weight: 400;\"> process, in line with the latest guidelines for Cross Border licenses. Once completed, opening a US\/UK\/Australia\/Canada account through Razorpay is swift, ensuring a seamless experience for freelancers.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Risk-Free Transactions<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">International bank transfers via the Razorpay platform are completely risk-free, with additional compliance support through automated <\/span><a href=\"https:\/\/razorpay.com\/blog\/razorpay-firs-automated-digital-firs\/\"><span style=\"font-weight: 400;\">Foreign Inward Remittance Statements (e-FIRS)<\/span><\/a><span style=\"font-weight: 400;\"> for each transaction.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Focus on Your Work, We&#8217;ll Handle the Rest<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Razorpay takes care of the complexities behind international payments, allowing you to focus on what you do best \u2013 your work. Our automated systems ensure smooth transactions and provide detailed reports to help you manage your finances effectively.<\/span><\/p>\n<p><b>Transform your Freelance Journey Now!<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Expanding your freelance business beyond borders has never been easier. By offering 1-click onboarding, support for USD and over 160 currencies, and affordable, transparent pricing, Razorpay empowers freelancers to focus on growing their business without worrying about the complexities of accepting payments. Whether you&#8217;re a seasoned freelancer or just starting your journey, the Razorpay MoneySaver Export Account empowers you to scale your business globally.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ready to Get Started?<\/span><\/p>\n<p><a href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\"><span style=\"font-weight: 400;\">Sign up today<\/span><\/a><span style=\"font-weight: 400;\"> and experience the freedom, flexibility, and efficiency it offers your <a href=\"https:\/\/razorpay.com\/learn\/what-is-freelancing\/\">freelancing<\/a> business!<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\">Sign up today!<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In today&#8217;s interconnected world, freelancers in India are increasingly finding opportunities to work with clients from around the globe. As per several industry reports, the number of Indian freelancers rose to a whopping 15 million in 2020. In 2022, the number of tech companies hiring freelancers grew to 65%, as compared to 57% in 2020.\u00a0<\/p>\n","protected":false},"author":131,"featured_media":16539,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[369],"tags":[659,658,555],"class_list":{"0":"post-16441","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-international-payments","8":"tag-freelancers","9":"tag-moneysaver-export-account","10":"tag-razorpay-international-payments"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/16441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=16441"}],"version-history":[{"count":5,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/16441\/revisions"}],"predecessor-version":[{"id":20951,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/16441\/revisions\/20951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/16539"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=16441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=16441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=16441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}