SEPA, Wise or PayPal: The Cheapest Way to Get Paid by a German Client

Platforms named in the question are shown alongside the 2 highest payouts among the platforms this site covers, ranked by the INR received on a $5,000 invoice. Fees were checked on 30 Sept 2026.

• A SEPA bank transfer: SEPA lets payers send euro credit transfers across 41 European countries, including Germany; India is not a SEPA country, so a SEPA transfer needs a receiving euro account held in a SEPA country. Export proceeds must still reach India through an authorised bank or authorised person under the Manner of Receipt and Payment Regulations, so check with your AD bank how such a receipt is reported.

Money from a German client for services is governed by the FEMA (Export and Import of Goods and Services) Regulations, 2026, in force from 1 October 2026, and by the FEMA (Manner of Receipt and Payment) Regulations, 2023. For countries outside the Asian Clearing Union, such as Germany, payment may be received in Indian Rupees or any foreign currency through an authorised bank or authorised person.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the XE mid-market rate for 3 Nov 2026. Platforms without full published pricing are not included.

For example, on a $2,000 invoice Skydo pays about ₹1,87,344 and PayPal about ₹1,74,164 at today's reference rate, a difference of ₹13,180.

A payment from Germany needs an export invoice, an EDF, a bank remittance record and, for GST, an LUT or IGST payment. Services to a client in Germany are an export of services when the place of supply is outside India and payment comes in convertible foreign exchange, or in INR where the RBI permits. Export of services is a zero-rated supply, and an LUT in FORM GST RFD-11 lets you supply without paying IGST.

The main change in 2026 is that the FEMA Export and Import Regulations 2026 replaced the 2015 regulations from 1 October 2026. A.P. (DIR Series) Circular No. 20 supersedes the Master Direction on Export of Goods and Services and the listed circulars, including the SOFTEX circulars, from the same date.

• New regulations: The 2026 Regulations came into force on 1 October 2026 and were amended on 22 September 2026.
• SOFTEX: The SOFTEX circulars are listed as superseded in Circular No. 20, and software exports now use the EDF.
• Realisation: The 22 September 2026 amendment set nine months, replacing fifteen, and twelve months for INR, replacing eighteen (Reg 5).
• Small invoices: Invoices up to ₹10 lakh can close in EDPMS, or be reduced, on the exporter's declaration (Reg 4(2) and Reg 6).
• Unrealised exports: Exports unrealised one year past the due date limit further exports to full advance or an irrevocable letter of credit (Reg 13).

Every rule is linked to its official source below with the date it was checked. Platform figures come from each platform's own pages; the full method is on the methodology page.

1. Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (Notification FEMA 23(R)/2026-RB, amended up to 22 September 2026), Reg 1(2), 2(1)(f), 3(2), 4(2), 5(1), 6, 13, 18(2) (checked 6 Oct 2026)
2. RBI A.P. (DIR Series) Circular No. 20 dated 16 January 2026: Export and Import of Goods and Services, Paras 4 and 7; Annex A (checked 6 Oct 2026)
3. Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Reg 3(2)(I)(a)(iii) (checked 6 Oct 2026)
4. RBI A.P. (DIR Series) Circular No. 84 dated 29 February 2012: Compilation of R-Returns, Reporting under FETERS, Purpose codes for reporting (checked 6 Oct 2026)
5. IGST Act, 2017, Section 2 (Definitions), s.2(6) export of services (checked 6 Oct 2026)
6. IGST Act, 2017, Section 16 (Zero rated supply), s.16(1) and 16(3) (checked 6 Oct 2026)
7. CGST Rules, 2017, Rule 96A (Export under bond or Letter of Undertaking), Rule 96A(1)(b) (checked 6 Oct 2026)
8. European Central Bank: Single Euro Payments Area (SEPA), SEPA countries (checked 6 Oct 2026)
9. DGFT FAQs on Self-Generation of eBRC (Version 1.0, March 2024), FAQ 1, 2 and 10 (checked 6 Oct 2026)
10. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
11. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
12. Wise India: Fees for receiving money (Business), Conversion fee depends on the currency; eFIRC for every transfer; GST 18% of (conversion fee + eFIRC fee); calculator (checked 6 Oct 2026)
13. PayPal India Merchant Fees, Receiving international transactions; Currency Conversions (3.0% converting balance and payments received; 4.00% all other cases); Withdrawals Out of PayPal; Dispute Fees; Other Fees (Last Updated 28 March 2024) (checked 6 Oct 2026)