LRS integration FAQ

1. What are the bank cut-off timings for LRS remittances?

   Bank	Start	Cut-off
   HDFC	9:30 AM	2:30 PM
   IDFC	9:30 AM	2:30 PM
   ICICI	9:30 AM	5:30 PM
   Axis	9:30 AM	5:30 PM
   Kotak	9:30 AM	2:30 PM

   All times are IST, Monday–Friday. Orders placed after the cut-off, or on weekends/bank holidays, are queued for processing on the next working day.

   These windows are as informed by the respective banks. Actual processing may drift from this schedule, particularly during high-volume periods or when a bank is facing operational issues.
   
   

2. Will Glomo ask the customer for bank details at checkout?

   Only if the order was created without a bank_account_id. If a bank_account_id is passed when creating the order, Glomo prefills and displays those bank details to the customer for confirmation (not editable). If it is omitted, Glomo collects the bank details from the customer during checkout. See Collection of bank account information for details.
   
   

3. Does the Create a quote API return Glomo's rate or the bank's rate?

   The fx_rate returned by the Create a quote API is based on the partner bank's rate at the time of the call. Glomo adds no markup of its own; the partner bank's FX markup applies. Note that quote_id is valid for only 30 minutes — the rate and final INR debit (incl. GST & TCS) are confirmed by the bank at the time the payment is actually processed, and can vary from the indicative quote.
   
   

4. How often do FX rates get updated?

   Refresh frequency depends on the bank:

   • ICICI, IDFC, Axis: twice a day, around 9:30 AM and 5:00 PM IST.
   • HDFC, Kotak: roughly every 3 hours.

   Given quote_id expires in 30 minutes, fetch a fresh quote close to the time of payment rather than reusing an older one.
   
   

5. Who calculates and collects TCS (Tax Collected at Source)?

   TCS is calculated, applied, and managed independently by the remitting bank, in accordance with applicable RBI/tax regulations. Glomo does not compute or collect TCS, since Glomo does not have visibility into the customer's cumulative LRS remittances across other sources.
   
   

6. Are there any processing fees or FX markups added by Glomo?

   No processing fee is charged by the bank on these transactions. GST is applicable on the FX component. Glomo adds no FX markup of its own; the exchange rate shown to the customer is the rate provided by the partner bank, and the bank's FX markup applies.
   
   

7. Why is a customer asked to wait when retrying a payment on the same order?

   When a payment attempt is made on an order, a payment ID is created. The outcome of the attempt isn't known immediately (e.g. while the bank, such as ICICI, is processing it), so Glomo waits for a set window, configured per bank, before marking that payment ID as failed if no confirmation is received.

   If a customer reopens the same order while a prior attempt's payment ID is still active, they are prompted to wait until that window elapses.

   Recommendation: instead of making the customer wait, create a fresh order and have the customer pay against it. A new order has no prior payment attempt, so it carries no waiting period.
   
   

8. When does an LRS order expire?

   An LRS order expires when its quote expires; a payment attempt does not extend it. A quote is valid for a set window, normally 30 minutes; the quote's expires_at gives the exact time. The order's expires_at is set to the same value, and after that, payment creation fails.

   The order's status may not show expired straight away. It usually updates within about 5 minutes, and not until any open payment attempt on the order has resolved; an attempt already under way can still complete the order. Use the quote's expires_at, not the order's status, to decide whether the customer can start a new payment.
   
   

9. How is the SWIFT reference number generated and mapped to a transaction?

   Glomo does not generate a SWIFT reference number. Every partner bank provides its own unique payment_id/transaction reference, which Glomo uses for tracking.
   
   

10. Can a transaction that has been marked successful subsequently be reversed? How are reversals or chargebacks handled?

    A transaction is marked successful only after clear funds are sighted by Glomo in its PSP escrow account. In the rare event a bank initiates a reversal for an erroneous credit, Glomo shares the status on a case-by-case basis.
    
    

11. What is the typical turnaround time (TAT) for funds to be credited to the GIFT City account after a transaction is initiated?

    TAT varies by bank and its processing cut-offs. Credits to Glomo's GIFT City account are generally observed between T+0 and T+2. These credits are reconciled thrice every working day against each transaction, after which funds are marked available in the client's payment account (enabling buying power on their end). Funds themselves are bulk-settled once daily in a rolling manner.
    
    

12. Are there any charges applicable during the transaction lifecycle, and how are they communicated?

    On the charges shown to the investor: the indicative FX rate (fetched via the bank API), the bank's convenience/transaction fee, and the applicable GST are all displayed on the Glomo Checkout.
    
    

13. At what intervals are funds settled and credited to the GIFT City account for pay-in transactions?

    Earmarked settlements for pay-in transactions are processed to the identified bank account every working day between 11 AM and 12 PM IST. This can be routed either to the client's GAP physical bank account or directly to a US broker, as per the client's choice.
    
    

14. What report formats are available for pay-in and payout reconciliation (MIS/statements)?

    Payment reports, settlement reports, and bank statements are all provided in CSV format, downloadable via the Glomo Dashboard.
    
    

15. Is there a unique transaction identifier to reconcile transactions across reports, APIs, bank statements, and settlement files?

    Yes — the payment_id is passed consistently across Glomo reports. Within the downloaded reports, the id column in the payment report maps to the entity_id column in the settlement report, enabling cross-reconciliation between the two. See Payment, settlement and payout reports for LRS for a step-by-step reconciliation.
    
    

16. When creating a quote, which side of the conversion is guaranteed — the source or target currency amount?

    The amount you pass as source_currency/source_amount is the one Glomo guarantees; the target_currency amount is computed from it via the FX rate and can vary. For example, if you want an exact USD amount debited (e.g. to match a fixed-price USD invoice), set source_currency to USD and target_currency to INR — the USD amount stays fixed while the INR equivalent floats with the bank's rate. Conversely, setting source_currency to INR (as in the Create a quote example) guarantees the INR amount and gives an indicative USD equivalent.
    
    

17. Is the Bank Customer ID required on every transaction, or only the first time?

    Only once. After the customer provides it during Glomo's checkout, Glomo collects and stores it against their bank_account_id. For returning customers, pass the previously-created bank_account_id in the Create an Order API — the customer is prompted to pay using the bank customer ID already on file, without re-entering it.
    
    

18. Which webhook confirms that funds have actually landed and are available to act on (e.g. to grant buying power to the end user)?

    payment.funds_available is the definitive signal that funds have actually been received and are available — use this to trigger granting buying power. payment.success fires earlier, once the bank authorises the payment; it does not mean funds have landed on Glomo's side yet. For the outgoing settlement leg to your GIFT City account, settlement.initiated and settlement.success mark that movement.
    
    

19. What's the consent/document workflow required for a payout (withdrawal)?

    A signed consent letter (on your letterhead, confirming the investor's withdrawal request) is required per payout/withdrawal request. Generate and upload it via the Document Upload API, then pass the returned document ID in the Create a Payout API call. See the Withdrawal Flow Guide for the full request/response examples.
    
    

20. Does Glomo provide native iOS/Android SDKs, or only React Native/Flutter?

    Native SDKs are in active development. If your app doesn't support React Native/Flutter, check with your Glomo integration contact for the current release timeline.
    
    

When you add a customer's bank account (POST /customer/{id}/bank_account), Glomo checks that the account_number is digits only and that its length is within the range the bank accepts:

• Send the account number exactly as the bank issued it: digits only, with no spaces, hyphens or other characters. Keep any leading zeros.
• A number outside the range is rejected with 400. The error message names the bank and the length it expects. Nothing is created or changed, so you can retry once the number is corrected.
• Don't retry the same number unchanged; it will be rejected again. Check the number with the customer first.
• These ranges are confirmed with each bank. Some older accounts may not follow a bank's current format. If you have a valid account number that falls outside its range, contact Glomo support and we will check it with the bank.