Wise Business vs Currenxie (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; Wise Business does. Wise Business is best for freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment. The table compares both by use case using published information.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Not comparable | Currenxie does not publish full pricing; Wise Business does. |
| Invoices around $5,000 | Not comparable | Currenxie does not publish full pricing; Wise Business does. |
| Invoices around $10,000 | Not comparable | Currenxie does not publish full pricing; Wise Business does. |
| Need: freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment | Wise Business | Wise Business is built for this. |
| Need: incorporated businesses that hold and convert multiple currencies in one account, often with a Hong Kong presence | Currenxie | Currenxie is built for this. |
CurrencyUSD
At the mid-market rate
₹4,74,283
Highest payout: Wise Business
₹4,65,277
- 1.Wise Business₹4,65,277cost 1.90%
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 Wise Business and Currenxie compare at a glance?
| Attribute | Wise Business | Currenxie |
|---|---|---|
| Best for | Freelancers and small exporters wanting multi-currency local accounts and eFIRC | Incorporated businesses holding multiple currencies, often with Hong Kong presence |
| Fees | Calculator: 1.6% + $2 per payment + 18% GST | USD 0.75 per local collection, USD 8.00 SWIFT, USD 3.00 India payout |
| FX markup | Mid-market rate; cost is the 1.6% conversion fee | States mid-market + 0.50% for INR (0.35% majors) |
| Settlement | States under 90 minutes in business hours | States same or next business day; India timing not confirmed |
| FIRA | eFIRC per transfer, 2 USD + 18% GST | Not confirmed; no FIRA or FIRC mention |
| Currencies | Receive USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF; to INR | Holds 15 currencies incl. USD, EUR, GBP, HKD; INR payouts to India |
| RBI status | States in-principle PA-CB approval; not found on RBI page | Not confirmed; no RBI claim, licensed elsewhere |
| Indian individuals | Only via Wise Business as sole trader/freelancer | No sole traders or personal accounts |
| Indian businesses | Yes; other business types can join waitlist | Not confirmed for India-registered companies |
| Limits | Not confirmed | Not confirmed |
How much INR do you receive on $2,000, $5,000 and $10,000 with Wise Business vs Currenxie?
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 |
|---|---|---|---|---|---|---|
| Wise Business, $2,000 | ₹3,164 | ₹0 | ₹570 | ₹1,85,979 | 1.97% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $5,000 | ₹7,632 | ₹0 | ₹1,374 | ₹4,65,277 | 1.90% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $10,000 | ₹15,078 | ₹0 | ₹2,714 | ₹9,30,773 | 1.88% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| 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 |
What is Wise Business and who is it for?
Wise is a UK-headquartered money transfer company. In India, receiving money from abroad is offered only through Wise Business, which gives local account details in eight currencies, converts incoming payments to INR at the mid-market rate and pays them to the user's Indian bank account. Freelancers can sign up under the sole trader / freelancer business type.
- Regulated by: States that Wise Payments India Private Limited is an in-principle approved Payment Aggregator - Cross Border and that inward remittance runs through a local bank partner with RBI approval (platform's claim; not found on an RBI page)
- Used by: Yes. Wise onboards sole trader / freelancer, sole proprietorship, private limited company, limited liability partnership and general partnership; other business types can join a waitlist.
- Best for: Freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment
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
How do Wise Business and Currenxie fees and FX markup compare?
What does Wise Business charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: US ACH to USD account details (routing and account number) | 1.6% conversion fee, 2 USD eFIRC fee and 18% GST on both in Wise's calculator (20.86 USD total on 1,000 USD on 2026-10-06) | – | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Receiving: International Swift or wire to USD account details | 27.93 USD total on 1,000 USD in Wise's calculator on 2026-10-06 | Wise's price data adds a 6.11 USD pay-in fee to the conversion fee for wire receipts; the page does not explain this in words | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Receiving: Payment from a client's Wise account | Not confirmed | Wise says the client can skip bank transfer or wire transfer fees and that the user saves 4.14 USD on USD wire fees if the client pays with Wise | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Receiving: GBP, EUR, AUD, CAD, NZD, SGD, HUF local details | Not confirmed | Wise states the conversion fee depends on the currency | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Currency conversion to INR | Converts at the mid-market rate; the cost is the 1.6% conversion fee | When foreign currency is converted | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Payout to an Indian bank | Funds are converted to INR at the mid-market rate and sent to the Indian bank account linked at signup; Wise's charges are the conversion fee, the eFIRC fee and GST on both. | When INR is sent to your account | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| eFIRC | 2 USD per transfer plus GST, per Wise's calculator | – | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Receiving account details | Free per Wise's India business page ('Get international account details in India for free') | – | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| GST on fees | Wise states it charges GST only on the Wise fees, at 18% of (conversion fee + eFIRC fee). | Applies to the platform's fee | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
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 |
How do Wise Business and Currenxie compare on settlement speed?
- Wise Business: Wise states payments can arrive in under 90 minutes within business hours
- 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
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Wise Business | States under 90 minutes in business hours | INR at mid-market rate to linked Indian bank account | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| 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 |
Do Wise Business and Currenxie provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Wise Business | eFIRC per transfer, 2 USD + 18% GST | States in-principle PA-CB approval; not found on RBI page | 30 Sept 2026 | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| 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 |
Which currencies, countries and payment methods do Wise Business and Currenxie support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Wise Business | Receive USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF; to INR | US ACH to USD account details (routing and account number); International Swift or wire to USD account details; Payment from a client's Wise account; GBP, EUR, AUD, CAD, NZD, SGD, HUF local details | Only via Wise Business as sole trader/freelancer | Yes; other business types can join waitlist | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| 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 |
What are the strengths and limitations of Wise Business and Currenxie?
Wise Business
- Transparent calculator: Wise's India pricing page calculator shows the conversion fee, eFIRC fee and GST for a given amount
- Mid-market rate: no exchange rate markup; the cost sits in a stated conversion fee
- Speed: Wise states payouts can arrive in under 90 minutes within business hours
- Freelancer eligibility: sole traders and freelancers are an accepted business type
- Cost on USD: Wise's calculator showed a 1.6% conversion fee plus a 2 USD eFIRC fee, before 18% GST, on a 1,000 USD ACH receipt on 2026-10-06
- Per-payment paperwork: Wise says a payment request is needed for every payment, with payment information such as sender and invoice
- Business only: personal Wise accounts in India cannot receive money; users must register Wise Business
- Regulatory status: the PA-CB licence is in-principle per Wise's own statement
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
Should you choose Wise Business or Currenxie?
- Choose Wise Business if: you need freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment.
- Choose Currenxie if: you need incorporated businesses that hold and convert multiple currencies in one account, often with a Hong Kong presence.
For example, an exporter billing $5,000 a month: Currenxie does not publish full pricing; Wise Business does.
Which other platforms should you consider besides Wise Business and Currenxie?
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 | ₹4,71,037 | Indian freelancers and exporters receiving mid to large B2B invoices |
| 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 |
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.
- 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)
- Wise India: Fees for receiving money (Personal), Receiving money feature is currently available only for business customers (checked 6 Oct 2026)
- Wise India: Receive money from abroad in India, Eight currencies, free account details, mid-market rate, eFIRC, under 90 minutes within business hours, eligible company types, 4.14 USD wire saving, regulatory footer (checked 6 Oct 2026)
- Wise Help: How to verify your Indian business to receive payments, Eligible business types and documents (checked 6 Oct 2026)
- Wise India: Pricing (checked 6 Oct 2026)
- Wise price data behind the India receive calculator (USD to INR, business, India), RECEIVE_BANK_TRANSFER 1,000 USD: variableFee 15.68 (1.6%), flatFee 2.0, vat 3.18 (18%), total 20.86; RECEIVE_SWIFT: total 27.93 incl. 6.11 pay-in fee; 100,000 USD: total 1,770.52 after HAT_VOLUME_DISCOUNT -73.23 (checked 6 Oct 2026)
- Wise calculator price data for an Indian business receiving USD (RECEIVE_BANK_TRANSFER to INR), $5,000: conversion fee 78.48 (1.6% of converted amount), flat fee 2.00, GST 14.49, total 94.97; also read at $500 to $100,000 (checked 6 Oct 2026)
- 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)
FAQs about Wise Business vs Currenxie
Is Wise Business or Currenxie cheaper for receiving USD in India?
Currenxie does not publish full pricing; Wise Business does. At $2,000: Currenxie does not publish full pricing; Wise Business does. At $10,000: Currenxie does not publish full pricing; Wise Business does. Figures use each platform's published pricing and today's reference rate, so check both pricing pages before you decide.
Which is faster, Wise Business or Currenxie?
Wise Business states: Wise states payments can arrive in under 90 minutes within business hours. 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.
Do Wise Business and Currenxie both provide a FIRA?
Wise Business: eFIRC sent by email for every transfer; 2 USD each in Wise's calculator, plus 18% GST. Currenxie: Not confirmed. Currenxie does not mention FIRA or FIRC on its pricing page or in its help centre. Check the platform's own pricing page before relying on these figures.
Are Wise Business and Currenxie authorised by RBI?
Wise Business: States that Wise Payments India Private Limited is an in-principle approved Payment Aggregator - Cross Border and that inward remittance runs through a local bank partner with RBI approval (platform's claim; not found on an RBI page). Currenxie: Not confirmed.
Can Indian freelancers use both Wise Business and Currenxie?
Wise Business, individuals: Not through Wise Personal: Wise's India receive pricing page says receiving is currently available only for business customers. Individual freelancers can register Wise Business as a 'sole trader / freelancer'. Currenxie, individuals: No. Check the platform's own pricing page before relying on these figures.
Should I switch from Wise Business to Currenxie?
Switch only if Currenxie pays more on your usual invoice size or fits how your clients pay. Keep the Wise Business account open until every invoice sent with its details is paid, and download your FIRA or FIRC records first.