Currenxie vs Razorpay (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. Currenxie does not publish full pricing; Razorpay does. Currenxie is best for incorporated businesses that hold and convert multiple currencies in one account, often with a Hong Kong presence. Razorpay is best for Indian businesses and freelancers already using Razorpay who invoice foreign clients.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Not comparable | Currenxie does not publish full pricing; Razorpay does. |
| Invoices around $5,000 | Not comparable | Currenxie does not publish full pricing; Razorpay does. |
| Invoices around $10,000 | Not comparable | Currenxie does not publish full pricing; Razorpay does. |
| Need: incorporated businesses that hold and convert multiple currencies in one account, often with a Hong Kong presence | Currenxie | Currenxie is built for this. |
| Need: Indian businesses and freelancers already using Razorpay who invoice foreign clients | Razorpay | Razorpay is built for this. |
CurrencyUSD
At the mid-market rate
₹4,73,125
Highest payout: Razorpay
₹4,67,542
- 1.Razorpay₹4,67,542cost 1.18%
1 USD = 94.63 INR, ECB reference rate for 4 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 Currenxie and Razorpay compare at a glance?
| Attribute | Currenxie | Razorpay |
|---|---|---|
| Best for | Incorporated businesses holding multiple currencies, often with Hong Kong presence | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Fees | USD 0.75 per local collection, USD 8.00 SWIFT, USD 3.00 India payout | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST |
| FX markup | States mid-market + 0.50% for INR (0.35% majors) | States 0% markup on MoneySaver at live rate |
| Settlement | States same or next business day; India timing not confirmed | States 1 day (T+1 after invoice shared) |
| FIRA | Not confirmed; no FIRA or FIRC mention | FIRS within 24 hours of settlement; no charge listed |
| Currencies | Holds 15 currencies incl. USD, EUR, GBP, HKD; INR payouts to India | Local USD, GBP, EUR accounts plus SWIFT; 30+ currencies stated |
| RBI status | Not confirmed; no RBI claim, licensed elsewhere | RBI authorised PA-CB inward and outward, plus PA-O |
| Indian individuals | No sole traders or personal accounts | Listed as business type; savings account not confirmed |
| Indian businesses | Not confirmed for India-registered companies | Yes, under listed export purpose codes |
| Limits | Not confirmed | Not confirmed |
How much INR do you receive on $2,000, $5,000 and $10,000 with Currenxie vs Razorpay?
Each row applies the platform's published fee, FX markup and GST on the fee to the XE mid-market rate for 4 Nov 2026.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Currenxie, $2,000 | – | – | – | Not published | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Currenxie, $5,000 | – | – | – | Not published | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Currenxie, $10,000 | – | – | – | Not published | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Razorpay, $2,000 | ₹1,893 | ₹0 | ₹341 | ₹1,87,017 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $5,000 | ₹4,731 | ₹0 | ₹852 | ₹4,67,542 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $10,000 | ₹9,463 | ₹0 | ₹1,703 | ₹9,35,084 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
What is Currenxie and who is it for?
Currenxie is a Hong Kong headquartered payments company that offers a multi-currency Global Account with local virtual account details in several countries, FX conversion and outbound payments. It accepts companies only, not sole traders or personal use. An incorporated business could collect from foreign clients into its Currenxie balances and send INR to an Indian bank account through Currenxie's local India payout, but Currenxie publishes no India-specific onboarding, compliance or FIRA information.
- Regulated by: Not confirmed. Currenxie does not state any RBI authorisation; it lists licences or registrations in Hong Kong, the UK, Ireland, South Africa, Australia and Canada
- Used by: Not confirmed for India-registered companies. Currenxie states it welcomes 'businesses registered in most countries, except those that are currently under international sanctions or deemed high risk' (India is not on its prohibited list) and cannot onboard US-registered businesses; it does not state which entity would contract with an Indian company
- Best for: Incorporated businesses that hold and convert multiple currencies in one account, often with a Hong Kong presence
What is Razorpay and who is it for?
Razorpay is an Indian payment gateway that also offers the MoneySaver Export Account (International Bank Transfer). Indian exporters and freelancers get virtual local bank details in the US, UK, Europe and other regions plus a SWIFT account, share them with foreign clients, and receive INR in their Indian bank account. Settlement needs an invoice and buyer address details for each transaction, except for some marketplace and freelancing platform payouts.
- Regulated by: RBI authorised Payment Aggregator, PA-O (19.12.2023) and PA-CB Inward & Outward (Razorpay Payments Private Limited, RBI list of authorised payment system operators)
- Used by: Yes, Indian sole proprietorships, partnerships, private and public limited companies and LLPs that fall under the listed export purpose codes
- Best for: Indian businesses and freelancers already using Razorpay who invoice foreign clients
How do Currenxie and Razorpay fees and FX markup compare?
What does Currenxie charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Local payment to virtual account details (US, UK, Eurozone, Hong Kong, Japan, Australia, Canada, Mexico) | USD 0.75 per transfer | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Receiving: SWIFT payment received into the Hong Kong multi-currency account | USD 8.00 per transfer | Correspondent bank fees may apply and are outside Currenxie's control | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Receiving: Inter-client transfer from another Currenxie client | Processing fee waived; standard FX fees and any applicable non-standard fees still apply | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Currency conversion to INR | States it uses the genuine mid-market rate plus a published FX fee: 0.50% for exchanges involving INR (Tier 3), 0.35% for major currencies such as USD, EUR and GBP; INR exchanges are excluded from volume-based FX discounts | When foreign currency is converted | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Payout to an Indian bank | Convert balances to INR at mid-market plus a 0.50% FX fee, then send a local INR payment to an Indian bank account for USD 3.00 per transfer. Currenxie states new beneficiaries typically take one business day to activate; delivery time to India is Not confirmed | When INR is sent to your account | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Additional virtual account (one-time provisioning) | USD 8.00 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Inbound payment with incorrect beneficiary name | USD 40 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Returning an inbound payment | USD 50 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Payment collection for offshore registered companies | 0.05% of received amount | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Global Account set up for offshore jurisdictions or listed industries | USD 50 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Dormant account reactivation (no outgoing activity for 12 months) | USD 50 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Team Visa cards (Hong Kong companies) | HKD 50 per month for up to 5, HKD 15 per additional card | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Global Account set up for complex corporate structures (three or more layers of ownership) | USD 500 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Global Account set up for companies with nominee shareholders | USD 250 | – | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| GST on fees | Not confirmed. Currenxie does not state whether Indian GST applies to its fees | Applies to the platform's fee | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
What does Razorpay charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: US ACH to virtual USD account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: UK FPS to virtual GBP account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: SEPA to virtual EUR account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: SWIFT to virtual SWIFT account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | Razorpay's pricing page groups SWIFT with ACH, SEPA and FPS bank transfers at 1%; intermediary or correspondent bank charges: Not confirmed | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: FlashLinks (US) ACH debit payment link | 2% plus GST | Settlement in 5 days | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: International cards and wallets | Up to 3% plus taxes | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Currency conversion to INR | 0% FX markup on MoneySaver bank transfers; Razorpay states it converts at the live exchange rate | When foreign currency is converted | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Payout to an Indian bank | Razorpay converts at the live exchange rate with 0% markup and settles INR to the user's Indian current account (non-INR settlement to an EEFC account is also supported), T+1 after the invoice and buyer details are shared; Razorpay deducts its charges (1%, or INR 1,000 flat below INR 1,00,000, plus GST) before settlement. | When INR is sent to your account | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| One-time setup fee | INR 0 | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Annual maintenance fee | INR 0 | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Enterprise Plan | Custom pricing on request | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Refunds on bank transfers | Not supported | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| GST on fees | The MoneySaver pricing page states 'GST applicable' on the Razorpay fee without giving a rate; Razorpay's pricing page lists 18% GST for its domestic payment gateway service and 'taxes' on international card payments. | Applies to the platform's fee | Indian businesses and freelancers on Razorpay invoicing foreign clients |
How do Currenxie and Razorpay compare on settlement speed?
- Currenxie: States funds collected through virtual accounts are instantly available in the Global Account and that outgoing payments usually arrive on the same or next business day depending on the beneficiary bank's location; India-specific delivery time is Not confirmed
- Razorpay: Bank transfers: 'Settlement in 1 day' per the pricing page; docs state T+1 from the time the invoice or invoice details are shared against a payment. FlashLinks (US): settlement in 5 days
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Currenxie | States same or next business day; India timing not confirmed | Mid-market + 0.50% FX, USD 3.00 per INR transfer; timing not confirmed | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Razorpay | States 1 day (T+1 after invoice shared) | INR to Indian current account T+1, 0% markup, fee deducted | Indian businesses and freelancers on Razorpay invoicing foreign clients |
Do Currenxie and Razorpay provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Currenxie | Not confirmed; no FIRA or FIRC mention | Not confirmed; no RBI claim, licensed elsewhere | 30 Sept 2026 | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Razorpay | FIRS within 24 hours of settlement; no charge listed | RBI authorised PA-CB inward and outward, plus PA-O | 30 Sept 2026 | Indian businesses and freelancers on Razorpay invoicing foreign clients |
Which currencies, countries and payment methods do Currenxie and Razorpay support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Currenxie | Holds 15 currencies incl. USD, EUR, GBP, HKD; INR payouts to India | Local payment to virtual account details (US, UK, Eurozone, Hong Kong, Japan, Australia, Canada, Mexico); SWIFT payment received into the Hong Kong multi-currency account; Inter-client transfer from another Currenxie client | No sole traders or personal accounts | Not confirmed for India-registered companies | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Razorpay | Local USD, GBP, EUR accounts plus SWIFT; 30+ currencies stated | US ACH to virtual USD account; UK FPS to virtual GBP account; SEPA to virtual EUR account; SWIFT to virtual SWIFT account; FlashLinks (US) ACH debit payment link; International cards and wallets | Listed as business type; savings account not confirmed | Yes, under listed export purpose codes | Indian businesses and freelancers on Razorpay invoicing foreign clients |
What are the strengths and limitations of Currenxie and Razorpay?
Currenxie
- Published pricing: collection, payout, SWIFT and FX fees are listed in USD on the pricing page
- Low collection fee: USD 0.75 per local payment received into a virtual account
- Several currencies: local receiving details in eight regions in one account
- Multiple licences: holds licences or registrations in Hong Kong, the UK, Ireland, South Africa, Australia and Canada
- Companies only: does not offer accounts to sole traders or for personal use, so Indian freelancers cannot open one
- No India-specific information: Currenxie publishes no FIRA, purpose code, GST or RBI information for Indian clients
- FX cost on INR: 0.50% fee for exchanges involving INR, with no volume discount, on top of the USD 3.00 payout fee
- Extra fees: non-standard fees apply, for example USD 40 to USD 75 for recalls, returns and amendments, and set-up fees for offshore or complex structures
Razorpay
- FX: 0% markup on bank transfers, as stated on the pricing page
- Speed: T+1 settlement for local bank transfers once invoice details are shared
- Compliance: FIRS sent within 24 hours of settlement
- Regulation: listed by RBI as an authorised PA-CB for inward and outward transactions
- Small payments: flat INR 1,000 fee on transactions below INR 1,00,000, which is more than 1% on smaller invoices
- Paperwork: an invoice and buyer address are required for every transaction before settlement (except some marketplace payouts)
- No holding: funds cannot be kept in the foreign currency accounts
- Eligibility: limited to listed export purpose codes and excludes certain merchant categories and NGOs
Should you choose Currenxie or Razorpay?
- Choose Currenxie if: you need incorporated businesses that hold and convert multiple currencies in one account, often with a Hong Kong presence.
- Choose Razorpay if: you need Indian businesses and freelancers already using Razorpay who invoice foreign clients.
For example, an exporter billing $5,000 a month: Currenxie does not publish full pricing; Razorpay does.
Which other platforms should you consider besides Currenxie and Razorpay?
Other covered platforms ranked by the INR received on a $5,000 invoice.
| Platform | Fees | FX markup | FIRA | INR on $5,000 | Best for |
|---|---|---|---|---|---|
| Skydo | $19 up to $2,000, $29 to $10,000, 0.3% above + GST | States zero FX margin at live rate | States instant, free FIRA per payment | ₹4,69,887 | Indian freelancers and exporters receiving mid to large B2B invoices |
| 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 | ₹4,64,528 | 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 | ₹4,64,149 | 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 | ₹4,64,141 | 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 4 Nov 2026. The formula is on the methodology page.
- Currenxie Pricing, Collect local payments USD 0.75 per transfer; Send local payments (... India ...) USD 3.00 per transfer; Tier 3 (... INR ...) 0.50% (checked 7 Oct 2026)
- Currenxie homepage (checked 6 Oct 2026)
- Who can apply? (Global Account), "We do not offer accounts for Sole Traders or for personal use." (checked 7 Oct 2026)
- Is Currenxie regulated? (checked 6 Oct 2026)
- What documents are needed for opening a Global Account? (checked 6 Oct 2026)
- What documents can I use as proof of address? (checked 6 Oct 2026)
- Which countries and currencies are included in the Currenxie payment network? (checked 6 Oct 2026)
- What countries can I send and receive payments to and from? (checked 6 Oct 2026)
- What exchange rate is used for foreign exchange? (checked 6 Oct 2026)
- Schedule of additional and non-standard fees, Global Account set up for complex corporate structures (for companies that have three or more layers of ownership) $500; Global Account set up for nominee shareholdings $250 (checked 7 Oct 2026)
- Are there any correspondent bank fees for transfers made with a Currenxie account? (checked 6 Oct 2026)
- Who can apply? (Currenxie Card) (checked 6 Oct 2026)
- Why does my account confirmation letter show Currenxie Technologies Limited? (checked 6 Oct 2026)
- Are there any fees associated with inter-client transfers? (checked 6 Oct 2026)
- How do I send payments? (checked 6 Oct 2026)
- What is volume-based pricing? (updated 17 Sep 2026), "Out of scope currencies include: Any exchange with IDR, INR, MYR" (checked 7 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)
- Razorpay pricing, International cards and wallets up to 3% plus taxes; MoneySaver bank transfers (SWIFT, ACH, SEPA, FPS) 1% with zero forex markup; 'RBI PA-CB licensed'; 18% GST listed for the payment gateway service (checked 6 Oct 2026)
- Razorpay Docs: International Bank Transfer (MoneySaver Export Account), Supported methods and SWIFT currency list, purpose codes, onboarding KYC, invoices not required for Amazon, Upwork and Freelancer transactions, FAQs on T+1 settlement, EEFC settlement, FIRS within 24 hours, no holding of funds, no refunds, 'Free FIRC' in savings example (checked 6 Oct 2026)
- Razorpay Docs: FIRS Automated Process (checked 6 Oct 2026)
- Razorpay Docs: International Payments FAQs, NGOs not supported for international payments (checked 6 Oct 2026)
- RBI: Authorised payment system operators, Entry 54: Razorpay Payments Private Limited (formerly Razorpay Software Private Limited), PA-O 'Razorpay' 19.12.2023, PA-P, PA-CB I & O (checked 6 Oct 2026)
FAQs about Currenxie vs Razorpay
Is Currenxie or Razorpay cheaper for receiving USD in India?
Currenxie does not publish full pricing; Razorpay does. At $2,000: Currenxie does not publish full pricing; Razorpay does. At $10,000: Currenxie does not publish full pricing; Razorpay does. Figures use each platform's published pricing and today's reference rate, so check both pricing pages before you decide.
Which is faster, Currenxie or Razorpay?
Currenxie states funds collected through virtual accounts are instantly available in the Global Account and that outgoing payments usually arrive on the same or next business day depending on the beneficiary bank's location; India-specific delivery time is Not confirmed. FlashLinks (US): settlement in 5 days.
Do Currenxie and Razorpay both provide a FIRA?
Currenxie: Not confirmed. Currenxie does not mention FIRA or FIRC on its pricing page or in its help centre. Razorpay: FIRS (foreign inward remittance statement / e-FIRC) sent within 24 hours of settlement and downloadable from the Dashboard; no separate charge listed.
Are Currenxie and Razorpay authorised by RBI?
Currenxie: Not confirmed. Currenxie does not state any RBI authorisation; it lists licences or registrations in Hong Kong, the UK, Ireland, South Africa, Australia and Canada. Razorpay: RBI authorised Payment Aggregator, PA-O (19.12.2023) and PA-CB Inward & Outward (Razorpay Payments Private Limited, RBI list of authorised payment system operators).
Can Indian freelancers use both Currenxie and Razorpay?
Currenxie, individuals: No. Check the platform's own pricing page before relying on these figures. Fees and rules can change, so confirm the details before you invoice. The tables on this page show each published charge separately. Figures use published pricing and a live mid-market rate.
Should I switch from Currenxie to Razorpay?
Switch only if Razorpay pays more on your usual invoice size or fits how your clients pay. Keep the Currenxie 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.