Wise Business 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 invoice size and how your clients pay. On a $5,000 invoice, Skydo pays more at today's reference rate. Wise Business is best for freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment. The table shows the better option by use case.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Skydo | Skydo pays about ₹1,604 more (1.12% cost vs 1.97% for Wise Business). |
| Invoices around $5,000 | Skydo | Skydo pays about ₹5,747 more (0.68% cost vs 1.90% for Wise Business). |
| Invoices around $10,000 | Skydo | Skydo pays about ₹14,514 more (0.34% cost vs 1.88% for Wise Business). |
| 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: 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%
- 2.Wise Business₹4,64,244cost 1.90%
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 Wise Business and Skydo compare at a glance?
| Attribute | Wise Business | Skydo |
|---|---|---|
| Best for | Freelancers and small exporters wanting multi-currency local accounts and eFIRC | Indian freelancers and exporters receiving mid to large B2B invoices |
| Fees | Calculator: 1.6% + $2 per payment + 18% GST | $19 up to $2,000, $29 to $10,000, 0.3% above + GST |
| FX markup | Mid-market rate; cost is the 1.6% conversion fee | States zero FX margin at live rate |
| Settlement | States under 90 minutes in business hours | States under 24 hours; FAQ timelines vary by rail |
| FIRA | eFIRC per transfer, 2 USD + 18% GST | States instant, free FIRA per payment |
| Currencies | Receive USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF; to INR | Local USD, GBP, EUR, CAD, AUD, SGD, AED; 32 via SWIFT |
| RBI status | States in-principle PA-CB approval; not found on RBI page | RBI authorised PA-CB Inward and Outward; on RBI list |
| Indian individuals | Only via Wise Business as sole trader/freelancer | Yes, freelancers and sole proprietors with PAN |
| Indian businesses | Yes; other business types can join waitlist | Yes, companies, partnerships and HUFs |
| 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 Wise Business 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 |
|---|---|---|---|---|---|---|
| Wise Business, $2,000 | ₹3,157 | ₹0 | ₹568 | ₹1,85,566 | 1.97% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $5,000 | ₹7,615 | ₹0 | ₹1,371 | ₹4,64,244 | 1.90% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $10,000 | ₹15,045 | ₹0 | ₹2,708 | ₹9,28,707 | 1.88% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| 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 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 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 Wise Business and Skydo 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 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 Wise Business and Skydo compare on settlement speed?
- Wise Business: Wise states payments can arrive in under 90 minutes within business hours
- 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 |
|---|---|---|---|
| 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 |
| 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 Wise Business and Skydo 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 |
| 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 Wise Business and Skydo 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 |
| 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 Wise Business and Skydo?
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
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 Wise Business or Skydo?
- Choose Wise Business if: you need freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment.
- Choose Skydo if: you need Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer, or your invoices are around $2,000 or $5,000 or $10,000.
For example, an exporter billing $5,000 a month: Skydo pays about ₹5,747 more (0.68% cost vs 1.90% for Wise Business).
Which other platforms should you consider besides Wise Business 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 |
| Stripe | 4.3% intl cards; 3% Visa/Mastercard, 3.5% Amex; + 2% if converted | 2% if converted; Stripe says rate is generally mid-market | Standard Chartered payment advice; FIRC cost not confirmed | ₹4,38,050 | Registered Indian businesses selling online to card-paying foreign customers |
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)
- 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 Wise Business vs Skydo
Is Wise Business or Skydo cheaper for receiving USD in India?
Skydo pays about ₹5,747 more (0.68% cost vs 1.90% for Wise Business). At $2,000: Skydo pays about ₹1,604 more (1.12% cost vs 1.97% for Wise Business). At $10,000: Skydo pays about ₹14,514 more (0.34% cost vs 1.88% for Wise Business). 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 Skydo?
Wise Business states: Wise states payments can arrive in under 90 minutes within business hours. The homepage states payments are received in less than 24 hours. InstaLinks ACH Debit payments typically settle within 6 business days.. Check the platform's own pricing page before relying on these figures.
Do Wise Business and Skydo both provide a FIRA?
Wise Business: eFIRC sent by email for every transfer; 2 USD each in Wise's calculator, plus 18% GST. Skydo: FIRA issued instantly for each payment, emailed and downloadable from the dashboard; Skydo states it is free. Check the platform's own pricing page before relying on these figures.
Are Wise Business and Skydo 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). Check the platform's own pricing page before relying on these figures.
Can Indian freelancers use both Wise Business and Skydo?
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'. 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 Wise Business to Skydo?
Switch only if Skydo 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.