Airwallex vs Skydo (2026): Which Is Better for Receiving International Payments in India?
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
- Published:
- Last modified:
Short answer
The better choice depends on how your clients pay and which documents you need. Airwallex does not publish full pricing; Skydo does. Airwallex is best for registered Indian companies that want multi-currency collection accounts and also pay suppliers globally. Skydo is best for Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Not comparable | Airwallex does not publish full pricing; Skydo does. |
| Invoices around $5,000 | Not comparable | Airwallex does not publish full pricing; Skydo does. |
| Invoices around $10,000 | Not comparable | Airwallex does not publish full pricing; Skydo does. |
| Need: registered Indian companies that want multi-currency collection accounts and also pay suppliers globally | Airwallex | Airwallex is built for this. |
| Need: Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer | Skydo | Skydo is built for this. |
CurrencyUSD
At the mid-market rate
₹4,73,230
Highest payout: Skydo
₹4,69,991
- 1.Skydo₹4,69,991cost 0.68%
1 USD = 94.65 INR, ECB reference rate for 3 Nov 2026. Payout = amount minus fees, converted at the reference rate minus each platform's markup, minus 18% GST on fees where charged. Platforms without published pricing are left out.
How do Airwallex and Skydo compare at a glance?
| Attribute | Airwallex | Skydo |
|---|---|---|
| Best for | Registered Indian companies collecting multi-currency and paying suppliers globally | Indian freelancers and exporters receiving mid to large B2B invoices |
| Fees | No USD receive fee; free local payouts; Explore plan no monthly fee | $19 up to $2,000, $29 to $10,000, 0.3% above + GST |
| FX markup | 0.60% for INR (0.40% majors), Singapore schedule; India rate not confirmed | States zero FX margin at live rate |
| Settlement | States ~90% processed within hours to one business day | States under 24 hours; FAQ timelines vary by rail |
| FIRA | No auto FIRA; FIRC on request; partner fee may apply | States instant, free FIRA per payment |
| Currencies | Receive 20+ currencies from 70+ countries; INR payouts to India | Local USD, GBP, EUR, CAD, AUD, SGD, AED; 32 via SWIFT |
| RBI status | Not confirmed; not on RBI list, no PA-CB claim | RBI authorised PA-CB Inward and Outward; on RBI list |
| Indian individuals | No, registered businesses only | Yes, freelancers and sole proprietors with PAN |
| Indian businesses | Yes, via Airwallex Singapore, subject to checks | Yes, companies, partnerships and HUFs |
| Limits | Airwallex states most accounts have no deposit limit; transfer limits vary by method and are shown when creating a transfer. India-specific limits Not confirmed. | Minimum USD 50 per payment; Skydo states there is no upper limit. Payments above USD 100,000 a month are priced on request. |
How much INR do you receive on $2,000, $5,000 and $10,000 with Airwallex vs Skydo?
Each row applies the platform's published fee, FX markup and GST on the fee to the XE mid-market rate for 3 Nov 2026.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Airwallex, $2,000 | – | – | – | Not published | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Airwallex, $5,000 | – | – | – | Not published | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Airwallex, $10,000 | – | – | – | Not published | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Skydo, $2,000 | ₹1,798 | ₹0 | ₹324 | ₹1,87,170 | 1.12% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $5,000 | ₹2,745 | ₹0 | ₹494 | ₹4,69,991 | 0.68% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $10,000 | ₹2,745 | ₹0 | ₹494 | ₹9,43,221 | 0.34% | Indian freelancers and exporters receiving mid to large B2B invoices |
What is Airwallex and who is it for?
Airwallex is a global business account provider that issues local collection account details (Global Accounts) in 20+ currencies. Its help centre lists India as an eligible business registration country, with Indian businesses onboarded to the Airwallex Singapore entity. An Indian company can collect foreign client payments into a Global Account, convert to INR and send the money to its Indian bank account by local transfer.
- Regulated by: Not confirmed. Airwallex is not on the RBI list of payment system authorisations dated 30 Sep 2026, and its pages make no PA-CB claim
- Used by: Yes. India is listed as an eligible registration country, with Indian businesses onboarded to Airwallex Singapore, subject to industry and risk checks
- Best for: Registered Indian companies that want multi-currency collection accounts and also pay suppliers globally
What is Skydo and who is it for?
Skydo is a Bengaluru-based cross-border collection platform run by Skydo Technologies Private Limited, founded in 2022. It gives Indian exporters and freelancers local account details in the US, UK, Europe, Canada, Australia, Singapore and the UAE, plus an International SWIFT account, so foreign clients can pay by bank transfer. Skydo converts the funds and settles INR to the user's Indian bank account, issuing a FIRA for each payment.
- Regulated by: RBI authorised Payment Aggregator: PA-O 'Skydo' (08.01.2026) and PA-CB Inward and Outward (RBI Certificates of Authorisation list dated 30 September 2026)
- Used by: Yes. Private limited companies, partnerships and HUFs sign up with the business PAN; partnerships also provide the partnership deed.
- Best for: Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer
How do Airwallex and Skydo fees and FX markup compare?
What does Airwallex charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: USD local account details in the US (ACH, Fedwire) | 0% Global Account receiving fee | FedNow and RTP only for eligible customers | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Receiving: SWIFT into a Global Account (USD, EUR, GBP and others) | 0% Global Account receiving fee | Intermediary bank charges are Not confirmed | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Receiving: Local GBP, EUR, SGD, AUD, CAD and other local account details | 0% for most currencies (0.60% for KRW, VND, BRL and MYR collections) | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Receiving: Online card payments | 3.60% + SGD 0.50 for international cards (Singapore schedule) | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Currency conversion to INR | 0.60% customer mark-up for INR (0.40% for major currencies such as USD, EUR, GBP), included in the exchange rate, per the Singapore fee schedule; optional API quote-lock premiums of 0.02% to 0.30% are extra; India-specific rate Not confirmed | When foreign currency is converted | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Payout to an Indian bank | Convert the balance to INR with the 0.60% customer mark-up included in the rate and send by local transfer to the Indian bank account; the local payout fee is $0. SWIFT payouts cost SGD 20 (SHA) or SGD 35 (OUR). | When INR is sent to your account | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Explore plan | Free | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Grow plan | SGD 79/month | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Accelerate plan | From SGD 399/month | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| SWIFT payout | SGD 20 (SHA) or SGD 35 (OUR) per payout | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| FIRC | May be charged by the banking partner; quoted by support on request | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Extra spend users | SGD 5 per additional active spend user per month (5 free) | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| API FX quote validity premium (optional, API version 2024-06-30 or later) | 0.02% (1 minute) to 0.30% (24 hours), added to the FX mark-up | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| GST on fees | The Singapore fee schedule states fees are exclusive of GST where applicable. Whether Indian GST applies to Indian customers is Not confirmed. | Applies to the platform's fee | Registered Indian companies collecting multi-currency and paying suppliers globally |
What does Skydo charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Local bank transfer to Skydo local account details (US, UK, Europe, Canada, Australia, Singapore, UAE) | $19 up to $2,000, $29 from $2,001 to $10,000, 0.3% above $10,000, plus GST | Skydo states SWIFT charges are not applicable for local transfers | Indian freelancers and exporters receiving mid to large B2B invoices |
| Receiving: SWIFT transfer to the International SWIFT account (32 currencies) | Same slab fee plus GST | SWIFT charges are borne by the sender or deducted in-line as the sender chooses; Skydo adds no further SWIFT fee for transfer to India | Indian freelancers and exporters receiving mid to large B2B invoices |
| Receiving: InstaLinks payment link (US ACH Debit) | 2% per transaction, minimum $9 | Typically settles within 6 business days; chargebacks possible | Indian freelancers and exporters receiving mid to large B2B invoices |
| Receiving: Amazon Global Selling withdrawals to Skydo accounts | 0.5% (min $2) for monthly payments under USD 10,000; 0.3% above USD 10,000 | Separate Amazon seller pricing | Indian freelancers and exporters receiving mid to large B2B invoices |
| Currency conversion to INR | Zero FX margin; Skydo states it converts at the live rate with no markup (its India payments page describes this as the live mid-market rate) | When foreign currency is converted | Indian freelancers and exporters receiving mid to large B2B invoices |
| Payout to an Indian bank | Skydo converts the received funds at the live rate with zero FX margin and settles INR to the user's registered Indian bank account; the only charge stated is the Skydo slab fee plus GST, with no extra SWIFT fee for the transfer to India. | When INR is sent to your account | Indian freelancers and exporters receiving mid to large B2B invoices |
| InstaLinks (ACH Debit payment link) | 2% per transaction, minimum $9 | – | Indian freelancers and exporters receiving mid to large B2B invoices |
| Refund or chargeback | User bears the original amount, processing fees and any bank transfer fees to return funds | – | Indian freelancers and exporters receiving mid to large B2B invoices |
| FIRA | Free (as stated by Skydo) | – | Indian freelancers and exporters receiving mid to large B2B invoices |
| Account opening or annual fee | Not confirmed | – | Indian freelancers and exporters receiving mid to large B2B invoices |
| GST on fees | GST at 18% is charged on the Skydo transaction fee, as shown in the homepage calculator and the FAQ ('+ GST'). | Applies to the platform's fee | Indian freelancers and exporters receiving mid to large B2B invoices |
How do Airwallex and Skydo compare on settlement speed?
- Airwallex: Airwallex states about 90% of transfers to India are processed within a few hours to one business day
- Skydo: Skydo's FAQ gives standard timelines by local account: to the Skydo virtual account in 1 to 3 business days for USD ACH, EUR SEPA, CAD EFT and AUD, 1 business day for USD Fedwire and GBP FPS, and 1 to 5 business days for SWIFT; then to the Indian bank account in 1 business day for USD, GBP, EUR and SGD, 1 to 2 for CAD, and 1 to 3 for AUD and SWIFT. The homepage states payments are received in less than 24 hours. InstaLinks ACH Debit payments typically settle within 6 business days.
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Airwallex | States ~90% processed within hours to one business day | Convert to INR (0.60% markup in rate), $0 local transfer | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Skydo | States under 24 hours; FAQ timelines vary by rail | INR to Indian bank at live rate; no extra SWIFT fee | Indian freelancers and exporters receiving mid to large B2B invoices |
Do Airwallex and Skydo provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Airwallex | No auto FIRA; FIRC on request; partner fee may apply | Not confirmed; not on RBI list, no PA-CB claim | 30 Sept 2026 | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Skydo | States instant, free FIRA per payment | RBI authorised PA-CB Inward and Outward; on RBI list | 30 Sept 2026 | Indian freelancers and exporters receiving mid to large B2B invoices |
Which currencies, countries and payment methods do Airwallex and Skydo support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Airwallex | Receive 20+ currencies from 70+ countries; INR payouts to India | USD local account details in the US (ACH, Fedwire); SWIFT into a Global Account (USD, EUR, GBP and others); Local GBP, EUR, SGD, AUD, CAD and other local account details; Online card payments | No, registered businesses only | Yes, via Airwallex Singapore, subject to checks | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Skydo | Local USD, GBP, EUR, CAD, AUD, SGD, AED; 32 via SWIFT | Local bank transfer to Skydo local account details (US, UK, Europe, Canada, Australia, Singapore, UAE); SWIFT transfer to the International SWIFT account (32 currencies); InstaLinks payment link (US ACH Debit); Amazon Global Selling withdrawals to Skydo accounts | Yes, freelancers and sole proprietors with PAN | Yes, companies, partnerships and HUFs | Indian freelancers and exporters receiving mid to large B2B invoices |
What are the strengths and limitations of Airwallex and Skydo?
Airwallex
- No receiving fee: 0% Global Account receiving fee for USD and most currencies
- Published FX margin: 0.60% for INR on the Singapore fee schedule, included in the quoted rate
- Multi-currency holding: funds can be held in major currencies before converting
- Wider toolkit: cards, bill pay and payment acceptance in one account
- Businesses only: no personal accounts for individuals or unregistered freelancers
- Offshore entity: Indian customers are onboarded to the Singapore entity, not an Indian one
- FIRC on request: not issued automatically, and the banking partner may charge for it
- No confirmed RBI status: Airwallex is not on the RBI authorisation list and makes no PA-CB claim
Skydo
- FX: Zero FX margin on conversion to INR, as stated on the homepage and pricing section
- Predictable fees: Flat $19 or $29 per payment up to $10,000, so the effective rate falls as invoice size rises
- Compliance paperwork: FIRA issued instantly and stated to be free; Skydo says its FIRA and FIRC are accepted for GST filing and by banks
- Regulation: Listed by RBI as an authorised Payment Aggregator with PA-CB Inward and Outward authorisation
- Small payments: Minimum payment of USD 50, and a $19 flat fee is a high share of small invoices
- Card payments: Skydo's published pricing and FAQs list bank transfers and ACH Debit payment links only; no card payment option is listed
- InstaLinks cost: Payment links cost 2% per transaction with a $9 minimum and typically settle within 6 business days
- Chargebacks: For InstaLinks, the user is liable for chargeback amounts and fees, which Skydo may debit from the account
Should you choose Airwallex or Skydo?
- Choose Airwallex if: you need registered Indian companies that want multi-currency collection accounts and also pay suppliers globally.
- Choose Skydo if: you need Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer.
For example, an exporter billing $5,000 a month: Airwallex does not publish full pricing; Skydo does.
Which other platforms should you consider besides Airwallex and Skydo?
Other covered platforms ranked by the INR received on a $5,000 invoice.
| Platform | Fees | FX markup | FIRA | INR on $5,000 | Best for |
|---|---|---|---|---|---|
| Razorpay | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST | States 0% markup on MoneySaver at live rate | FIRS within 24 hours of settlement; no charge listed | ₹4,67,646 | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Kotak Mahindra Bank | No inward, FIRC, SWIFT fee on current accounts; GST on conversion | Card rate, markup not published; 1.71% below mid-market on 7 Oct 2026 | Nil FIRC on current accounts; savings Rs 100 or nil | ₹4,64,631 | Service exporters wanting a current account without inward remittance fees |
| HDFC Bank | No inward charge; physical FIRC INR 200 + taxes; GST on conversion | Card rate ~1.79% below mid-market on 6 Oct 2026; markup unpublished | Physical FIRC INR 200; emailed advice free for trade | ₹4,64,253 | Existing HDFC customers wanting free SWIFT receipts or EEFC accounts |
| Wise Business | Calculator: 1.6% + $2 per payment + 18% GST | Mid-market rate; cost is the 1.6% conversion fee | eFIRC per transfer, 2 USD + 18% GST | ₹4,64,244 | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
How did we verify this?
Fees, FIRA terms and RBI status were checked on each platform's own pages and RBI sources on 30 Sept 2026. INR figures use the XE mid-market rate for 3 Nov 2026. The formula is on the methodology page.
- Airwallex Help: Eligible Countries and Territories, INDIA IN - AWX Legal Entity SINGAPORE (checked 7 Oct 2026)
- Airwallex Help: Eligibility to open an account, unable to offer personal accounts to individuals (checked 6 Oct 2026)
- Airwallex Singapore Fee Schedule, Customer Mark-Up / Margin (... INR ...) 0.60%; "The customer mark-up / margin will be included as the FX Exchange Rate"; Global Account Receiving Funds Fee 0% for other currencies; Local Payout Fee $0; 24-Hour Quote Validity 0.30%; "exclusive of GST (where applicable)" (checked 7 Oct 2026)
- Airwallex Singapore Pricing, Grow $79/month; Accelerate from $399/month; 3.60% + $0.50 international cards (checked 6 Oct 2026)
- Airwallex: Send money to India (Singapore), Approximately 90% of transactions are processed within a few hours to one business day (checked 6 Oct 2026)
- Airwallex Help: What is an FIRC and how do I get one?, "there may be a fee associated with issuing an FIRC. This fee is not set by Airwallex; it is determined by our banking partner" (checked 7 Oct 2026)
- Airwallex Help: Which currencies can I get a Global Account in (checked 6 Oct 2026)
- Airwallex Help: Documents required for companies in other countries, Ultimate Beneficial owner ... more than 25% of the issued share capital (checked 6 Oct 2026)
- Airwallex Help: Limits for transfers and deposits (checked 6 Oct 2026)
- RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 (dated 30 September 2026), Section A, Payment Aggregators, serial 56, and footnote # (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)
- Skydo FAQs: Fees & charges, How much does Skydo charge; Who will bear the SWIFT charges; Payment Links fees; Refund or chargeback fees (checked 6 Oct 2026)
- Skydo FAQs: Payment queries, When will I receive money (timeline table); FIRA vs FIRC; Limitations and Restrictions (checked 6 Oct 2026)
- Skydo FAQs: International accounts, Countries for local accounts; currencies via SWIFT account; unsupported countries (checked 6 Oct 2026)
- Skydo FAQs: InstaLinks, Fees, settlement timeline, chargebacks (checked 6 Oct 2026)
- Skydo: Receive International Payments in India, Skydo section: FIRA instant, automatic and free; settlement within 24 hours (checked 6 Oct 2026)
- Skydo for Amazon Global Sellers, Know what you pay (checked 6 Oct 2026)
- Skydo Terms of Use, About Skydo; Export transaction collection payments; KYC Process (checked 6 Oct 2026)
- Skydo About Us (checked 6 Oct 2026)
- Skydo blog: How to Sign Up on Skydo in 5 Minutes, What Do You Need Before You Sign Up on Skydo (checked 6 Oct 2026)
FAQs about Airwallex vs Skydo
Is Airwallex or Skydo cheaper for receiving USD in India?
Airwallex does not publish full pricing; Skydo does. At $2,000: Airwallex does not publish full pricing; Skydo does. At $10,000: Airwallex does not publish full pricing; Skydo does. Figures use each platform's published pricing and today's reference rate, so check both pricing pages before you decide.
Which is faster, Airwallex or Skydo?
Airwallex states: Airwallex states about 90% of transfers to India are processed within a few hours to one business day. The homepage states payments are received in less than 24 hours. InstaLinks ACH Debit payments typically settle within 6 business days..
Do Airwallex and Skydo both provide a FIRA?
Airwallex: No automatic FIRA; FIRC can be requested from support and is issued by Airwallex's banking partner, which may charge a fee that support will quote. Skydo: FIRA issued instantly for each payment, emailed and downloadable from the dashboard; Skydo states it is free.
Are Airwallex and Skydo authorised by RBI?
Airwallex: Not confirmed. Airwallex is not on the RBI list of payment system authorisations dated 30 Sep 2026, and its pages make no PA-CB claim. Skydo: RBI authorised Payment Aggregator: PA-O 'Skydo' (08.01.2026) and PA-CB Inward and Outward (RBI Certificates of Authorisation list dated 30 September 2026).
Can Indian freelancers use both Airwallex and Skydo?
Airwallex, individuals: No. Airwallex states it is unable to offer personal accounts to individuals; applicants must be officially registered, active businesses Skydo, individuals: Yes. Skydo's sign-up guide states freelancers and sole proprietors can sign up with a personal PAN, Aadhaar verification via DigiLocker and a bank account in their own name.
Should I switch from Airwallex to Skydo?
Switch only if Skydo pays more on your usual invoice size or fits how your clients pay. Keep the Airwallex account open until every invoice sent with its details is paid, and download your FIRA or FIRC records first. Check the platform's own pricing page before relying on these figures.