Wise, Remitly or Western Union: The Cheapest Way to Get Australian Dollars into India
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
- Published:
- Last modified:
Short answer
Wise, Remitly and Western Union each price AUD to INR differently, and the comparison table on this page shows the 2026 cost from verified data. Client fees in AUD follow the RBI FEMA export regulations, 2026. Each receipt needs a purpose code and proof such as a FIRA. A GST LUT removes upfront IGST. Family money follows separate RBI rules.
| Applies to | Rules involved | Platforms compared | Last verified |
|---|---|---|---|
| Indian freelancers and exporters paid in Australian dollars by Australian clients, and residents receiving personal AUD remittances from family in Australia, who are comparing Wise, Remitly and Western Union | FEMA Export and Import Regulations, 2026 (Regs 3, 4, 5, 18 and 19), FEMA Manner of Receipt and Payment Regulations, 2023 (Reg 3(2)), RBI Master Direction on MTSS (para 3.4), RBI Master Direction on Payment Aggregators (para 11), RBI Master Direction on Deposits and Accounts (para 3.1, EEFC), IGST Act s.2(6), IGST Act s.16, CGST Rule 96A, CGST Rule 32 | Skydo, Razorpay, Wise Business, Remitly, Western Union | 6 Oct 2026 |
How do Wise, Remitly and Western Union compare for receiving Australian dollars in India?
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.
| Platform | Best for | Fee | FX markup | Settlement | FIRA | RBI PA-CB status | INR on $5,000 | Source |
|---|---|---|---|---|---|---|---|---|
| Skydo | Indian freelancers and exporters receiving mid to large B2B invoices | $19 up to $2,000, $29 to $10,000, 0.3% above + GST | States zero FX margin at live rate | States under 24 hours; FAQ timelines vary by rail | States instant, free FIRA per payment | RBI authorised PA-CB Inward and Outward; on RBI list | ₹4,70,199 | Skydo pricing (checked 6 Oct 2026) |
| Razorpay | Indian businesses and freelancers on Razorpay invoicing foreign clients | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST | States 0% markup on MoneySaver at live rate | States 1 day (T+1 after invoice shared) | FIRS within 24 hours of settlement; no charge listed | RBI authorised PA-CB inward and outward, plus PA-O | ₹4,67,852 | Razorpay pricing (checked 6 Oct 2026) |
| Wise Business | Freelancers and small exporters wanting multi-currency local accounts and eFIRC | Calculator: 1.6% + $2 per payment + 18% GST | Mid-market rate; cost is the 1.6% conversion fee | States under 90 minutes in business hours | eFIRC per transfer, 2 USD + 18% GST | States in-principle PA-CB approval; not found on RBI page | ₹4,64,449 | Wise Business pricing (checked 6 Oct 2026) |
| Remitly | Family and personal remittances from the US to India | Sender pays $3.99 below $1,000, $0 from $1,000; recipient charges not confirmed | Not published; may earn from rate difference | Promised time per transfer; specific timings not confirmed | Not confirmed; not stated on Remitly pages | Not confirmed; not shown as PA-CB authorised | Not for business: Remitly is for personal, family or household transfers | Remitly pricing (checked 6 Oct 2026) |
| Western Union | Personal and family remittances sent to India from abroad | Receiver free; sender fees vary; MTSS bars trade remittances | Margin not published; states it earns from currency exchange | Not confirmed; no bank deposit timeline given | Not confirmed; not a route for export proceeds | Paid under RBI MTSS via authorised Indian Agents | Not for business: RBI MTSS bars trade related remittances | Western Union pricing (checked 6 Oct 2026) |
Which RBI rule governs Australian dollars received in India through Wise, Remitly or Western Union?
Two sets of RBI rules govern AUD sent to India, and the purpose of the money decides which one applies. Payment for services you export to an Australian client follows the FEMA (Export and Import of Goods and Services) Regulations, 2026 from 1 October 2026, whichever platform carries it. Personal money from family follows the rules for personal remittances, and the Money Transfer Service Scheme excludes trade related remittances. For example, a designer invoicing AUD 3,000 for a logo project is an exporter, while a student's parent sending AUD 500 home is a personal remitter. See how to receive AUD payments in India.
| Rule | Source | Clause | Plain meaning | Best for |
|---|---|---|---|---|
| Currency of receipt | FEMA Manner of Receipt and Payment Regulations, 2023 | Regulation 3(2)(I)(a)(iii) | Export receipts from countries outside the Asian Clearing Union may be in Indian rupees or any foreign currency, so an Australian client can pay in AUD. Australia is not among the ACU members listed in the earlier 2016 regulations. | Exporters invoicing Australian clients in AUD |
| EDF for services | FEMA Regulations, 2026 | Regulation 3(2) | A service exporter files an EDF within 30 days from the end of the invoice month. One EDF can cover a month's exports, and services other than software may file it on or before the payment date. | Every service exporter, including software exporters who used SOFTEX before 1 October 2026 |
| Credit and EDPMS closure | FEMA Regulations, 2026 | Regulation 4(2) and first proviso | The AD bank credits export proceeds after satisfying itself the transaction is genuine and closes the EDPMS entry. Invoices up to Rs 10 lakh can be closed on the exporter's declaration, also in quarterly bulk. | Freelancers receiving many small AUD invoices |
| Realisation period | FEMA Regulations, 2026 | Regulation 5(1)(a) and provisos | AUD service proceeds are realised within nine months from the invoice date, or twelve months if invoiced or settled in rupees. The AD bank may extend the period. | Exporters with slow-paying Australian clients |
| AD bank charges | FEMA Regulations, 2026 | Regulation 19(3) | Charges an AD bank levies for handling export transactions must be reasonable and proportional to the service. | Anyone comparing Indian bank charges on an AUD wire |
| Personal remittances under MTSS | RBI Master Direction on MTSS | Paragraph 3.4(a) to (c) | Only personal remittances such as family maintenance are allowed, and trade related remittances are excluded. Each remittance is capped at USD 2,500, cash payout is limited to Rs 50,000, and one beneficiary can receive 30 remittances in a calendar year. | Families receiving AUD for living costs or savings |
| Cross-border payment aggregator limit | RBI Master Direction on Payment Aggregators | Paragraph 11(d) and (h) | A cross-border payment aggregator (PA-CB) processes inward transactions up to Rs 25 lakh each and gives the AD bank the documents needed to close EDPMS entries. | Exporters receiving a large single AUD payment |
| EEFC account credits | RBI Master Direction on Deposits and Accounts | Paragraph 3.1 | A resident can credit 100 percent of foreign exchange earnings received through normal banking channels, including professional earnings, to an EEFC account. | Exporters who want to hold foreign currency before converting |
| Export of services and LUT | IGST Act s.2(6) and CGST Rule 96A | Section 2(6); Rule 96A(1) | A service is an export when, among other conditions, the recipient and the place of supply are outside India and payment is received in convertible foreign exchange, or in rupees where RBI permits. An LUT in FORM GST RFD-11 lets a registered exporter supply without paying IGST. | GST-registered freelancers and agencies |
| GST on currency conversion | CGST Rule 32(2) | Sub-rule (2)(a) | When a supplier converts foreign currency to rupees, the GST value of that service is the gap between its rate and the RBI reference rate times the units, or a slab value the supplier opts for. | Anyone reading the GST line on a conversion advice |
Which option costs least on AUD 500, AUD 2,000 and AUD 5,000: Wise, Remitly or Western Union?
Each row applies the platform's published fee, FX markup and 18% GST on the fee to the XE mid-market rate for 4 Nov 2026. Platforms without full published pricing are not included.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Skydo, $500 | ₹1,799 | ₹0 | ₹324 | ₹45,221 | 4.48% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $2,000 | ₹1,799 | ₹0 | ₹324 | ₹1,87,253 | 1.12% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $5,000 | ₹2,746 | ₹0 | ₹494 | ₹4,70,199 | 0.68% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Razorpay, $500 | ₹1,000 | ₹0 | ₹180 | ₹46,164 | 2.49% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $2,000 | ₹1,894 | ₹0 | ₹341 | ₹1,87,141 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $5,000 | ₹4,734 | ₹0 | ₹852 | ₹4,67,852 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Wise Business, $500 | ₹929 | ₹0 | ₹167 | ₹46,248 | 2.32% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $2,000 | ₹3,159 | ₹0 | ₹569 | ₹1,85,648 | 1.97% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $5,000 | ₹7,619 | ₹0 | ₹1,371 | ₹4,64,449 | 1.90% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
For example, on a $2,000 invoice Skydo pays about ₹1,87,253 and Wise Business about ₹1,85,648 at today's reference rate, a difference of ₹1,604.
What documents and GST apply to Australian payments received in India?
An AUD export payment needs an invoice, an EDF and proof of inward remittance, whichever platform carries the money, and a GST-registered exporter files an LUT to export without paying IGST. A service is an export of services under IGST Act s.2(6) when its conditions are met, and the FEMA Regulations, 2026 set the EDF and EDPMS steps. A personal remittance from family is not an export, so the EDF and LUT steps do not apply, though the bank or agent still applies its KYC checks. See FIRC vs FIRA vs e-BRC for how the proof documents differ.
| Document | Who issues it | When needed | Best for |
|---|---|---|---|
| Letter of Undertaking (FORM GST RFD-11) | The exporter files it on the GST portal | Before export, to supply without paying IGST (CGST Rule 96A) | GST-registered exporters billing Australian clients |
| Export invoice in AUD | The exporter | For every export; the realisation period runs from the invoice date | All exporters, whichever route is used |
| Export Declaration Form (EDF) | The exporter submits it to the AD bank | Within 30 days from the end of the invoice month (FEMA Regulations 2026, Reg 3(2)) | Service exporters, including software exporters |
| Proof of inward remittance (FIRA, FIRC or bank advice) | The Indian bank that credits the money; ask a platform which bank issues it | After the money is credited; a PA-CB must give the AD bank the documents for EDPMS closure (RBI PA directions para 11(h)) | Exporters who need proof for GST refunds or audits |
| Exporter's declaration for EDPMS | The exporter | For invoices up to Rs 10 lakh, to close the entry or record a lower amount (FEMA Regulations 2026, Regs 4(2) and 6) | Exporters whose credited amount is below the invoice value |
| Purpose code | Chosen by the remitter or exporter; the AD bank reports it in FETERS | For each AUD receipt, from the RBI FETERS purpose code list; personal money from family usually falls under P1301 or P1302 | Every AUD receipt, business or personal |
What changed in the rules this year?
The FEMA (Export and Import of Goods and Services) Regulations, 2026 came into force on 1 October 2026 and apply to AUD export receipts through Wise, Remitly or Western Union alike. A.P. (DIR Series) Circular No. 20 superseded the Master Direction on Export of Goods and Services and the SOFTEX circulars from the same date. The EDF guide covers the filing steps.
- Realisation: Service proceeds are realised within nine months of the invoice date, or twelve months if invoiced or settled in INR. A 22 September 2026 amendment set nine months in place of fifteen and twelve in place of eighteen.
- EDF: Service exporters file an EDF within 30 days from the end of the invoice month (Reg 3(2)). Software counts as a service, and Circular No. 20 superseded the SOFTEX circulars.
- Small invoices: Invoices up to Rs 10 lakh can be closed in EDPMS, or reduced in value, on the exporter's declaration (Regs 4(2) and 6).
- Faster credit: An RBI circular of 9 April 2026 asks banks to try to credit inward payments received in forex market hours on the same business day. It takes effect six months after the circular date.
- Income tax: The Income-tax Act, 2025 repealed the 1961 Act from 1 April 2026 and uses the term 'tax year'. Tax years beginning before that date stay under the old Act.
How did we verify this?
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.
- RBI: 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) commencement; Reg 3(2) EDF; Reg 4 manner of receipt and EDPMS closure; Reg 5 realisation; Reg 6 reduction; Reg 19(3) charges (checked 6 Oct 2026)
- RBI: FEMA (Export and Import of Goods and Services) (Amendment) Regulations, 2026, FEMA 23(R)/(1)/2026-RB (22 September 2026), Para 2, amendment to regulation 5 (checked 6 Oct 2026)
- RBI: A.P. (DIR Series) Circular No. 20 (RBI/2025-26/194), Export and Import of Goods and Services, Para 4 supersession; para 7 in force from 1 October 2026; Annex (checked 6 Oct 2026)
- RBI: Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, FEMA 14(R)/2023-RB, Regulation 3(2)(I)(a)(iii) (checked 6 Oct 2026)
- RBI: Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016, FEMA 14(R)/2016-RB (superseded; cited for its list of ACU members), Regulation 3(1)(A) (checked 6 Oct 2026)
- RBI: Master Direction - Money Transfer Service Scheme (MTSS), FED Master Direction No. 1/2016-17 (updated as on 29 September 2026), Para 1.1; para 3.4(a) to (c) (checked 6 Oct 2026)
- RBI: Master Direction on Regulation of Payment Aggregator (PA), Para 11(d) Rs 25 lakh per transaction; para 11(h) documents for EDPMS closure (checked 6 Oct 2026)
- RBI: Master Direction - Deposits and Accounts, Para 3.1 EEFC account credits (checked 6 Oct 2026)
- RBI: A.P. (DIR Series) Circular No. 84, Compilation of R-Returns: Reporting under FETERS (29 February 2012), Revised purpose code list, group 13 transfers (P1301, P1302) (checked 6 Oct 2026)
- RBI circular RBI/2026-27/08: Guidelines to facilitate faster cross-border inward payments (9 April 2026), Paras 3 and 4 (checked 6 Oct 2026)
- CBIC: IGST Act 2017, Section 2 (Definitions), Section 2(6) export of services (checked 6 Oct 2026)
- CBIC: IGST Act 2017, Section 16 (Zero rated supply), Section 16(1) and (3) (checked 6 Oct 2026)
- CBIC: CGST Rules 2017, Rule 96A (Export under bond or Letter of Undertaking), Rule 96A(1), FORM GST RFD-11 (checked 6 Oct 2026)
- CBIC: CGST Rules 2017, Rule 32 (Determination of value in respect of certain supplies), Rule 32(2)(a) (checked 6 Oct 2026)
- Income Tax Department: Objective and scope of the new Act (Income-tax Act, 2025), Repeal of 1961 Act from 1 April 2026; tax year (checked 6 Oct 2026)
- Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
- 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)
- 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)
- Remitly: Send Money to India from the US (checked 6 Oct 2026)
- Western Union India: Receive money (checked 6 Oct 2026)
Frequently asked questions
What is the cheapest way to receive AUD in India in 2026: Wise, Remitly or Western Union?
The answer depends on the amount, the payout method and whether the money is a client fee or a family remittance. The comparison table on this page shows the cost on AUD 500, AUD 2,000 and AUD 5,000 from verified platform data, in no order of preference. RBI and GST rules depend on the purpose of the money.
Can Australian client fees in AUD be received through an RBI MTSS money transfer service in 2026?
No. Paragraph 3.4(a) of the RBI Master Direction on MTSS allows only personal remittances such as family maintenance and excludes trade related remittances. Client fees are export proceeds and must reach your AD bank under the FEMA Regulations, 2026. Ask each provider which channel it uses for a business receipt before invoicing.
What are the MTSS limits on AUD sent to India by family in Australia?
Under paragraph 3.4 of the RBI Master Direction on MTSS, each remittance is capped at USD 2,500, so an AUD amount is checked against its USD equivalent. Up to Rs 50,000 may be paid in cash, and larger amounts go to a bank account or by cheque. One beneficiary may receive 30 MTSS remittances in a calendar year.
Which purpose code applies to AUD sent to India by family: P1301 or P1302?
The RBI FETERS purpose code list describes P1301 as inward remittance from Indian non-residents towards family maintenance and savings, and P1302 as personal gifts and donations. A client's fee uses a services code instead, chosen by the work delivered. See the P1301 purpose code guide for when it fits.
Is GST charged on converting AUD to INR through Wise, Remitly, Western Union or a bank?
Currency conversion is a separate service from your export. Where the conversion is a supply taxable in India, CGST Rule 32(2) values it as the gap between the supplier's rate and the RBI reference rate times the units, or a slab value the supplier opts for. An export invoice under an LUT stays free of IGST.
Does an AUD invoice to an Australian client need a GST LUT in 2026?
A GST-registered exporter who wants to supply without paying IGST files a Letter of Undertaking in FORM GST RFD-11 before export under CGST Rule 96A. The service must meet the export conditions in IGST Act s.2(6), including payment in convertible foreign exchange. See LUT filing on the GST portal.
How long can an AUD export invoice stay unpaid under the FEMA 2026 realisation rule?
Under Regulation 5 of the FEMA Regulations, 2026, the full value of a services export is realised within nine months from the invoice date, or twelve months if invoiced or settled in rupees. Your AD bank may extend the period on request. The limit is the same for Wise, Remitly, Western Union and a direct bank wire.
Can AUD export earnings be held in an EEFC account instead of converting to INR?
Paragraph 3.1 of the RBI Master Direction on Deposits and Accounts lets a resident credit 100 percent of foreign exchange earnings received through normal banking channels, including professional earnings, to an EEFC account. The same paragraph sets conditions on monthly conversion and use of balances. Ask your AD bank which currencies it holds. See what an EEFC account is.