Revolut 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. Revolut does not publish full pricing; Skydo does. Revolut is best for Indian residents spending in INR and abroad with a prepaid wallet and forex card. 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 | Revolut does not publish full pricing; Skydo does. |
| Invoices around $5,000 | Not comparable | Revolut does not publish full pricing; Skydo does. |
| Invoices around $10,000 | Not comparable | Revolut does not publish full pricing; Skydo does. |
| Need: Indian residents spending in INR and abroad with a prepaid wallet and forex card | Revolut | Revolut 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
₹4,74,283
Highest payout: Skydo
₹4,71,037
- 1.Skydo₹4,71,037cost 0.68%
1 USD = 94.86 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 Revolut and Skydo compare at a glance?
| Attribute | Revolut | Skydo |
|---|---|---|
| Best for | Indian residents using an INR wallet and forex card | Indian freelancers and exporters receiving mid to large B2B invoices |
| Fees | Not confirmed; India terms bar business use | $19 up to $2,000, $29 to $10,000, 0.3% above + GST |
| FX markup | Not confirmed for inward payments | States zero FX margin at live rate |
| Settlement | Not confirmed | States under 24 hours; FAQ timelines vary by rail |
| FIRA | Not confirmed; not mentioned on India pages | States instant, free FIRA per payment |
| Currencies | INR wallet; forex card in 30+ currencies, 130+ countries | Local USD, GBP, EUR, CAD, AUD, SGD, AED; 32 via SWIFT |
| RBI status | States RBI PPI and AD Category-II licences; not PA-CB | RBI authorised PA-CB Inward and Outward; on RBI list |
| Indian individuals | Personal account only; receiving payments not confirmed | Yes, freelancers and sole proprietors with PAN |
| Indian businesses | Not confirmed; terms bar business use | Yes, companies, partnerships and HUFs |
| Limits | Not confirmed. The personal terms say Revolut may set limits on UPI receipts and payments and that limits are shown in the app. | 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 Revolut 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 |
|---|---|---|---|---|---|---|
| Revolut, $2,000 | – | – | – | Not published | – | Indian residents using an INR wallet and forex card |
| Revolut, $5,000 | – | – | – | Not published | – | Indian residents using an INR wallet and forex card |
| Revolut, $10,000 | – | – | – | Not published | – | Indian residents using an INR wallet and forex card |
| Skydo, $2,000 | ₹1,802 | ₹0 | ₹324 | ₹1,87,587 | 1.12% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $5,000 | ₹2,751 | ₹0 | ₹495 | ₹4,71,037 | 0.68% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $10,000 | ₹2,751 | ₹0 | ₹495 | ₹9,45,320 | 0.34% | Indian freelancers and exporters receiving mid to large B2B invoices |
What is Revolut and who is it for?
Revolut operates in India through Revolut Payments India Private Limited, which issues a prepaid INR wallet, a domestic card and UPI, and Revolut Forex India Private Limited, which issues multi-currency forex cards. The India product is presented as a spending account for Indian residents aged 18 and over. The India site and terms do not describe a way for freelancers or exporters to receive payments from foreign clients.
- Regulated by: States it is RBI-authorised to issue PPIs (COA No. 224/2025) via Revolut Payments India, and that Revolut Forex India holds an AD Category-II licence (MUM-ADII-0963-2024); not a PA-CB
- Used by: Not confirmed. The India site lists no business account, and the personal terms bar business use.
- Best for: Indian residents spending in INR and abroad with a prepaid wallet and forex card
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 Revolut and Skydo fees and FX markup compare?
What does Revolut charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Top up INR wallet from own Indian bank or card via UPI, net banking or external card | UPI 0%; Netbanking 1.28% + GST; Debit Card 0.30% + GST; Credit Card 1.63% + GST (Standard plan fee schedule) | Domestic top-up only. Funds to a currency account must come from the same bank account given during verification. | Indian residents using an INR wallet and forex card |
| Receiving: Receive money from other Revolut or non-Revolut wallets and bank accounts in India | Not confirmed | Described in the personal terms for the INR PPI wallet; not an international receiving method. | Indian residents using an INR wallet and forex card |
| Receiving: International bank transfer (SWIFT or local foreign account details) from a foreign client | Not confirmed | Not offered on the Revolut India site or terms as of 2026-10-06. | Indian residents using an INR wallet and forex card |
| Currency conversion to INR | Not confirmed for inward payments; the India site does not publish an inward conversion rate | When foreign currency is converted | Indian residents using an INR wallet and forex card |
| Payout to an Indian bank | Not confirmed. Revolut India does not describe converting foreign client payments to INR or paying them out to an Indian bank account. | When INR is sent to your account | Indian residents using an INR wallet and forex card |
| Plus plan | ₹499/year plus taxes | – | Indian residents using an INR wallet and forex card |
| Premium plan | ₹2,499/year plus taxes | – | Indian residents using an INR wallet and forex card |
| Metal plan | ₹9,999/year plus taxes | – | Indian residents using an INR wallet and forex card |
| Standard plan | Free | – | Indian residents using an INR wallet and forex card |
| First Revolut Card (Standard plan) | ₹199, plus applicable GST | – | Indian residents using an INR wallet and forex card |
| ATM withdrawal (Standard plan) | 2% of the withdrawal amount or ₹150, whichever is lower, plus GST as applicable | – | Indian residents using an INR wallet and forex card |
| GST on fees | Paid plan prices are shown plus taxes, and the Standard fee schedule lists wallet top-up and card fees plus GST. GST on any receiving fee is not confirmed because no receiving fee is published. | Applies to the platform's fee | Indian residents using an INR wallet and forex card |
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 Revolut and Skydo compare on settlement speed?
- Revolut: Not confirmed. No inward international settlement to an Indian bank account is described on the India site
- 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 |
|---|---|---|---|
| Revolut | Not confirmed | Not confirmed | Indian residents using an INR wallet and forex card |
| 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 Revolut and Skydo provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Revolut | Not confirmed; not mentioned on India pages | States RBI PPI and AD Category-II licences; not PA-CB | 30 Sept 2026 | Indian residents using an INR wallet and forex card |
| 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 Revolut and Skydo support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Revolut | INR wallet; forex card in 30+ currencies, 130+ countries | Top up INR wallet from own Indian bank or card via UPI, net banking or external card; Receive money from other Revolut or non-Revolut wallets and bank accounts in India; International bank transfer (SWIFT or local foreign account details) from a foreign client | Personal account only; receiving payments not confirmed | Not confirmed; terms bar business use | Indian residents using an INR wallet and forex card |
| 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 Revolut and Skydo?
Revolut
- Regulated Indian entities: the site states a PPI authorisation and an AD Category-II forex licence from the RBI
- Travel spending: a multi-currency card for spending abroad across 30+ currencies, as stated on the India site
- Domestic payments: UPI and a domestic card in one app
- Free entry plan: a Standard plan with no annual fee
- No inward remittance product: the India site and terms describe no way to receive a foreign client's payment and convert it to INR
- No business use: the personal terms state a Revolut Account cannot be used for business purposes
- INR only wallet: the terms state PPIs can only be used for payments in Indian Rupees
- No FIRA: no inward remittance documentation is mentioned
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 Revolut or Skydo?
- Choose Revolut if: you need Indian residents spending in INR and abroad with a prepaid wallet and forex card.
- 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: Revolut does not publish full pricing; Skydo does.
Which other platforms should you consider besides Revolut 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 | ₹4,68,686 | 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 | ₹4,65,665 | 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 | ₹4,65,286 | 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 | ₹4,65,277 | 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.
- Revolut India home page, Eligibility (Indian residents aged 18+); plan prices; footer legal entity and RBI PPI and AD-II statements (checked 6 Oct 2026)
- Revolut India spending account (checked 6 Oct 2026)
- Revolut India personal terms, PPIs only for payments in Indian Rupees; foreign currency services via affiliates; no business use; KYC under RBI guidelines; UPI receipt and payment limits shown in the app; top-up methods (checked 6 Oct 2026)
- Revolut India products legal index (checked 6 Oct 2026)
- Revolut India Multi-Currency Cards Terms and Conditions, Eligibility: Indian citizen, resident in India, Indian passport, PAN and Aadhaar; loading funds by bank transfer (NEFT, IMPS, RTGS) (checked 6 Oct 2026)
- Revolut India Help Centre: Add money with a bank transfer (checked 6 Oct 2026)
- Revolut India Personal Fees (Standard), Add money fees, card fee, ATM fee; no inward international payment fee listed (checked 6 Oct 2026)
- Revolut India fees index (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)
- 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)
FAQs about Revolut vs Skydo
Is Revolut or Skydo cheaper for receiving USD in India?
Revolut does not publish full pricing; Skydo does. At $2,000: Revolut does not publish full pricing; Skydo does. At $10,000: Revolut 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, Revolut or Skydo?
Revolut states: Not confirmed. No inward international settlement to an Indian bank account is described on the India site. The homepage states payments are received in less than 24 hours. InstaLinks ACH Debit payments typically settle within 6 business days..
Do Revolut and Skydo both provide a FIRA?
Revolut: Not confirmed. No FIRA or FIRC is mentioned on Revolut India pages. Skydo: FIRA issued instantly for each payment, emailed and downloadable from the dashboard; Skydo states it is free. A FIRA or FIRC is used as proof of export for GST refunds and income tax records, so confirm how each platform issues it before you invoice.
Are Revolut and Skydo authorised by RBI?
Revolut: States it is RBI-authorised to issue PPIs (COA No. 224/2025) via Revolut Payments India, and that Revolut Forex India holds an AD Category-II licence (MUM-ADII-0963-2024); not a PA-CB. 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 Revolut and Skydo?
Revolut, individuals: Indian residents aged 18 and over can open a personal spending account. The personal terms bar business use, and no inward international payment service is described, so receiving client payments is not confirmed. Skydo, individuals: Yes. Payments must be for export of goods, services or software. Eligibility can change, so confirm on each platform's sign-up pages.
Should I switch from Revolut to Skydo?
Switch only if Skydo pays more on your usual invoice size or fits how your clients pay. Keep the Revolut 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.