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Case Studies IT Services Exporter Improves FX Realisation withXchangepe

IT Services Exporter Improves FX Realisation withXchangepe

case-studies
Saravana Bhaskar
Written bySaravana Bhaskar
May 7, 20262 min read
IT Services Exporter Improves FX Realisation withXchangepe

An India-based IT and business support services exporter working with clients across
the US and Europe was receiving foreign payments regularly through a leading private
sector bank. With annual international inflows of around ₹12–15 crore across USD,
EUR, GBP, and CAD, the company assumed its banking costs were “standard.” However,
despite steady volumes, the finance team consistently noticed that the INR credited was
lower than expected, with no clear explanation from the bank.
A detailed FX and charges analysis conducted by Xchangepe revealed that the bank was
effectively charging a 2.5% FX conversion margin over interbank rates, even though this
margin was not mentioned anywhere in the credit advice or transaction statements. In
addition, USD 30 per inward was being deducted as correspondent bank charges, along
with routine handling and processing fees. All of these charges were further increased
by 18% GST, while INR credits typically came in 3–4 working days after funds were
received. With average monthly inflows of nearly USD 150,000, these hidden costs were
quietly eroding margins and delaying cash flows.
After moving its international collections to Xchangepe, the company saw an immediate
improvement in both transparency and outcomes. Payments were converted at a fixed
0.5% markup over interbank rates, with no correspondent or handling charges, and INR
credits were consistently received on a T+1 basis. For the first time, the finance team
could see the exact FX rate and charges before conversion, making reconciliation and
forecasting far simpler.
From a compliance perspective, operational friction was also removed. FIRA copies
became instantly available on the Xchangepe dashboard, eliminating the need for
repeated follow-ups with bank relationship managers. All remittance data and
documents were available in one place, making audits and reporting effortless.

Key Outcomes (Annualised):

  • FX margin savings: ₹21 Lakhs
  • Correspondent & handling charges eliminated: ₹3.5 Lakhs
  • Handling-related costs and taxes saved: ₹1.8 Lakhs
    Total annual savings of approximately ₹26 Lakhs, along with faster settlements and far
    better visibility into FX costs.

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Oil Exporter Improves Cash Flow During High-Volume Cycles

Challenges

FX margins (~0.8–1%) quietly reducing overall realization; $40–$60 deductions on every transaction due to correspondent banks; INR credits taking 3–5 working days, affecting working capital cycles; Difficulty in planning payments to suppliers due to uncertain timelines Even small inefficiencies became significant due to the high transaction values.; Xchangepe

Solutions

The exporter shifted collections to Xchangepe to improve efficiency and predictability. Lower FX markup (~0.2%) with full transparency; No correspondent bank deductions; Faster settlements (same day / T+1); Ability to track and manage all remittances digitally

CA Improves Client Experience & Reduces Follow-Ups with Xchangepe
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CA Improves Client Experience & Reduces Follow-Ups with Xchangepe

Challenges

repetitive and time-consuming: Clients often complained that “INR received is less than expected”; Banks did not clearly disclose FX margins (1.5–2.5%); Frequent follow-ups were needed for FIRA, IRM, and documentation; Each bank had a different process, making it hard to standardize This not only affected client satisfaction but also increased the CA’s operational workload.; Xc

Solutions

The CA introduced Xchangepe to a few clients initially to test the experience. Transparent FX rates shown before conversion; Instant FIRA availability on dashboard; Faster settlements (T+1 or within hours); All remittance details in one place

Freelancer Gains Better Control Over Earnings with Xchangepe
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Freelancer Gains Better Control Over Earnings with Xchangepe

Challenges

that added up over time. Payments received via PayPal or bank transfers came with high FX margins (3–4%) Multiple deductions (platform fees + bank charges) made it difficult to track actual earnings Funds usually took 2–3 days to reflect, impacting personal cash flow No clear visibility on what rate was applied vs what was expected.Over time, this led to a constant feeling of “losing money somewhere” without clarity. Xchangepe

Solutions

After moving to Xchangepe, the freelancer started receiving payments via a USD virtual account. Payments came in faster (same day / next day); FX conversion was done at a fixed, transparent markup (~0.5%); No hidden deductions, everything visible upfront; Could choose when to convert USD to INR, depending on rates

Agri Exporter Streamlines FX Realisation andCompliance with Xchangepe
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Agri Exporter Streamlines FX Realisation andCompliance with Xchangepe

Challenges

around FX conversion, settlement delays, and compliance coordination with their bank. Xchangepe’s realization analysis showed that the bank was effectively applying a 1% FX conversion margin, without offering any upfront rate transparency. Each inward remittance also attracted EUR 40 in correspondent bank charges, along with additional handling and processing fees. INR credits were typically delayed by 3–4 working days, affecting liquidity planning. Beyond costs, the exporter

Solutions

Leveraging Xchangepe for faster realisation and optimized FX margins.

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