Wise Business vs Remitly (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. Remitly 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. Remitly is best for family and personal remittances sent from the US to India.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Not comparable | Remitly does not publish full pricing; Wise Business does. |
| Invoices around $5,000 | Not comparable | Remitly does not publish full pricing; Wise Business does. |
| Invoices around $10,000 | Not comparable | Remitly 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: family and personal remittances sent from the US to India | Remitly | Remitly is built for this. |
CurrencyUSD
At the mid-market rate
₹4,73,935
Highest payout: Wise Business
₹4,64,936
- 1.Wise Business₹4,64,936cost 1.90%
1 USD = 94.79 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 Wise Business and Remitly compare at a glance?
| Attribute | Wise Business | Remitly |
|---|---|---|
| Best for | Freelancers and small exporters wanting multi-currency local accounts and eFIRC | Family and personal remittances from the US to India |
| Fees | Calculator: 1.6% + $2 per payment + 18% GST | Sender pays $3.99 below $1,000, $0 from $1,000; recipient charges not confirmed |
| FX markup | Mid-market rate; cost is the 1.6% conversion fee | Not published; may earn from rate difference |
| Settlement | States under 90 minutes in business hours | Promised time per transfer; specific timings not confirmed |
| FIRA | eFIRC per transfer, 2 USD + 18% GST | Not confirmed; not stated on Remitly pages |
| Currencies | Receive USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF; to INR | USD to INR for US to India corridor |
| RBI status | States in-principle PA-CB approval; not found on RBI page | Not confirmed; not shown as PA-CB authorised |
| Indian individuals | Only via Wise Business as sole trader/freelancer | Personal transfers only; not freelance or export payments |
| Indian businesses | Yes; other business types can join waitlist | Not supported for receiving |
| Limits | Not confirmed | Not confirmed. Remitly's user agreement says it may limit amounts per transaction or in aggregate but publishes no figure on pages reviewed; the promotional first-transfer rate applies to the first $6,000 sent. |
How much INR do you receive on $2,000, $5,000 and $10,000 with Wise Business vs Remitly?
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 |
|---|---|---|---|---|---|---|
| Wise Business, $2,000 | ₹3,162 | ₹0 | ₹569 | ₹1,85,843 | 1.97% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $5,000 | ₹7,627 | ₹0 | ₹1,373 | ₹4,64,936 | 1.90% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $10,000 | ₹15,067 | ₹0 | ₹2,712 | ₹9,30,091 | 1.88% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Remitly, $2,000 | – | – | – | Not published | – | Family and personal remittances from the US to India |
| Remitly, $5,000 | – | – | – | Not published | – | Family and personal remittances from the US to India |
| Remitly, $10,000 | – | – | – | Not published | – | Family and personal remittances from the US to India |
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 Remitly and who is it for?
Remitly is a US-based money transfer service that lets senders in countries such as the US send money to recipients abroad, including India. Indian residents receive Remitly transfers as INR into their bank account, through UPI or via cash pickup, with the sender initiating and paying for the transfer. Its consumer service is restricted to personal, family or household purposes, so it is not designed for Indian freelancers or exporters invoicing foreign clients.
- Regulated by: Not confirmed. Remitly is not shown as an RBI PA-CB authorised entity on any page reviewed.
- Used by: Not supported for receiving. Remitly Business is for US-based companies sending payments abroad; no page reviewed offers Indian businesses a way to receive or collect payments.
- Best for: Family and personal remittances sent from the US to India
How do Wise Business and Remitly 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 Remitly charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Bank deposit to an Indian bank account (sent by a Remitly customer abroad) | Paid by sender: $3.99 below $1,000, $0 at $1,000 or more (US to India) | Consumer, personal-purpose transfers only | Family and personal remittances from the US to India |
| Receiving: UPI payout in India | Paid by sender; Not confirmed whether it differs from bank deposit | – | Family and personal remittances from the US to India |
| Receiving: Cash pickup in India | Paid by sender; Not confirmed whether it differs from bank deposit | Cash pickup transactions expire after 60 days per the user agreement | Family and personal remittances from the US to India |
| Currency conversion to INR | Markup not published; Remitly's user agreement states it may earn from the difference between the rate at which it buys currency and the rate given to the customer. | When foreign currency is converted | Family and personal remittances from the US to India |
| Payout to an Indian bank | Funds arrive in INR directly in the recipient's Indian bank account, UPI or cash pickup. The sender pays the transfer fee and the exchange rate includes a spread Remitly does not publish. Any recipient-side charges are Not confirmed. | When INR is sent to your account | Family and personal remittances from the US to India |
| Transfer fee (US to India, paid by sender) | $3.99 below $1,000; $0 at $1,000 or more | – | Family and personal remittances from the US to India |
| First transfer for new customers | No fee, limited-time offer | – | Family and personal remittances from the US to India |
| FX conversion | Spread included in rate; markup not published | – | Family and personal remittances from the US to India |
| GST on fees | Not confirmed. Remitly does not publish GST treatment for Indian recipients; fees are charged to the foreign sender. | Applies to the platform's fee | Family and personal remittances from the US to India |
How do Wise Business and Remitly compare on settlement speed?
- Wise Business: Wise states payments can arrive in under 90 minutes within business hours
- Remitly: Delivered to Indian bank accounts, UPI or cash pickup; Remitly shows a promised delivery time per transfer and refunds its fee if late. Specific timings 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 |
| Remitly | Promised time per transfer; specific timings not confirmed | INR to bank, UPI or cash pickup; spread not published | Family and personal remittances from the US to India |
Do Wise Business and Remitly 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 |
| Remitly | Not confirmed; not stated on Remitly pages | Not confirmed; not shown as PA-CB authorised | 30 Sept 2026 | Family and personal remittances from the US to India |
Which currencies, countries and payment methods do Wise Business and Remitly 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 |
| Remitly | USD to INR for US to India corridor | Bank deposit to an Indian bank account (sent by a Remitly customer abroad); UPI payout in India; Cash pickup in India | Personal transfers only; not freelance or export payments | Not supported for receiving | Family and personal remittances from the US to India |
What are the strengths and limitations of Wise Business and Remitly?
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
Remitly
- Recipient simplicity: The Indian recipient needs only a bank account or UPI ID; the sender handles the transfer
- Published sender fee: USD to INR fee of $3.99 below $1,000 and $0 at $1,000 or more is shown on Remitly's site
- Multiple payout options: Bank deposit, UPI and cash pickup in India
- Delivery promise: Fee refund if the transfer arrives after the promised date
- Personal use only: The consumer service is limited to personal, family or household purposes, not business or export receipts
- Sender-initiated: Indian users cannot get collection account details or invoice clients through Remitly
- FX markup not disclosed: Remitly states it may earn on the exchange rate spread but does not publish the markup
- No published FIRA: Remitly does not state that it issues FIRA or e-FIRC for export documentation
Should you choose Wise Business or Remitly?
- Choose Wise Business if: you need freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment.
- Choose Remitly if: you need family and personal remittances sent from the US to India.
For example, an exporter billing $5,000 a month: Remitly does not publish full pricing; Wise Business does.
Which other platforms should you consider besides Wise Business and Remitly?
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 | ₹4,70,691 | 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 | ₹4,68,343 | 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 | ₹4,65,323 | 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 | ₹4,64,944 | 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 4 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)
- Remitly: Send Money to India from the US (checked 6 Oct 2026)
- Remitly USD to INR rates and fees, Fee $3.99 below $1,000, $0 at $1,000 or more; promotional rate on first $6,000 (checked 6 Oct 2026)
- Remitly User Agreement, Consumer use for personal, family or household purposes; FX spread disclosure; US residency and age 18; delivery promise; Remitly may limit transfer amounts per transaction or in aggregate; cash pickup cancelled if not collected within 60 days (checked 6 Oct 2026)
- Remitly Business, For US-based companies paying freelancers, contractors and vendors abroad (checked 6 Oct 2026)
FAQs about Wise Business vs Remitly
Is Wise Business or Remitly cheaper for receiving USD in India?
Remitly does not publish full pricing; Wise Business does. At $2,000: Remitly does not publish full pricing; Wise Business does. At $10,000: Remitly 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 Remitly?
Wise Business states: Wise states payments can arrive in under 90 minutes within business hours. Remitly states: Delivered to Indian bank accounts, UPI or cash pickup; Remitly shows a promised delivery time per transfer and refunds its fee if late. Specific timings Not confirmed..
Do Wise Business and Remitly both provide a FIRA?
Wise Business: eFIRC sent by email for every transfer; 2 USD each in Wise's calculator, plus 18% GST. Remitly: Not confirmed. Remitly does not state on its pages that it issues FIRA or e-FIRC to Indian recipients.. Check the platform's own pricing page before relying on these figures.
Are Wise Business and Remitly 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). Remitly: Not confirmed. Remitly is not shown as an RBI PA-CB authorised entity on any page reviewed..
Can Indian freelancers use both Wise Business and Remitly?
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'. Remitly, individuals: Indian residents can receive personal transfers sent by family or friends abroad. Eligibility can change, so confirm on each platform's sign-up pages.
Should I switch from Wise Business to Remitly?
Switch only if Remitly 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.