Wise Business vs Winvesta (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. Winvesta 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 | Winvesta does not publish full pricing; Wise Business does. |
| Invoices around $5,000 | Not comparable | Winvesta does not publish full pricing; Wise Business does. |
| Invoices around $10,000 | Not comparable | Winvesta 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: Indian freelancers and small businesses collecting under 2,000 a month per currency | Winvesta | Winvesta is built for this. |
CurrencyUSD
At the mid-market rate
₹4,74,049
Highest payout: Wise Business
₹4,65,047
- 1.Wise Business₹4,65,047cost 1.90%
1 USD = 94.81 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 Winvesta compare at a glance?
| Attribute | Wise Business | Winvesta |
|---|---|---|
| Best for | Freelancers and small exporters wanting multi-currency local accounts and eFIRC | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Fees | Calculator: 1.6% + $2 per payment + 18% GST | 0.99% + USD 3 to 2,000/month; 0.2% above 100,000; GST conflicting |
| FX markup | Mid-market rate; cost is the 1.6% conversion fee | States 0% markup on USD; non-USD not confirmed |
| Settlement | States under 90 minutes in business hours | USD 1 business day, EUR/GBP 2; 1 pm IST cut-off |
| FIRA | eFIRC per transfer, 2 USD + 18% GST | Free e-FIRA emailed within 24 hours |
| Currencies | Receive USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF; to INR | Conflicting: 30+ or 37+ currencies; local USD, EUR, GBP, CAD |
| RBI status | States in-principle PA-CB approval; not found on RBI page | States RBI compliant; PA-CB not confirmed on RBI page |
| Indian individuals | Only via Wise Business as sole trader/freelancer | Yes, freelancers with PAN and Aadhaar |
| Indian businesses | Yes; other business types can join waitlist | Yes, with business registration details |
| Limits | Not confirmed | No limits on incoming transactions in USD and 30 other currencies; funds may be held in the account for a maximum of 9 months |
How much INR do you receive on $2,000, $5,000 and $10,000 with Wise Business vs Winvesta?
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 | ₹3,163 | ₹0 | ₹569 | ₹1,85,887 | 1.97% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $5,000 | ₹7,628 | ₹0 | ₹1,373 | ₹4,65,047 | 1.90% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Wise Business, $10,000 | ₹15,071 | ₹0 | ₹2,713 | ₹9,30,313 | 1.88% | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
| Winvesta, $2,000 | – | – | – | Not published | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Winvesta, $5,000 | – | – | – | Not published | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Winvesta, $10,000 | – | – | – | Not published | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
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 Winvesta and who is it for?
Winvesta, run by Winvesta India Technologies Private Limited, offers a Global Collections Account (marketed as a multi-currency account) that gives Indian freelancers and businesses local foreign-currency account details. Clients pay into these accounts, and the user withdraws the funds to an Indian bank account in INR with an e-FIRA. Winvesta also offers card collections through payment links and a US stock investment app.
- Regulated by: States it is an online payment gateway service provider that facilitates cross-border collections under RBI regulations; RBI PA-CB authorisation not confirmed on an RBI page
- Used by: Yes. Indian businesses can open an account with PAN, Aadhaar, a marketing channel link, bank details and business registration details.
- Best for: Indian freelancers and small businesses collecting under 2,000 a month per currency
How do Wise Business and Winvesta 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 Winvesta charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: US ACH, FedWire or RTP to local USD account details | USD 3 + 0.99% per transaction (monthly USD volume up to 2,000); custom from 2,000 to 100,000 a month; 0.2% above 100,000 a month | ACH typically 1-3 business days; RTP instant; FedWire same day | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Receiving: SWIFT to USD account details (payers outside the US) | Same USD collection fee as above | Usually 1-2 business days depending on the banks involved; no limit on the amount received | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Receiving: EUR and GBP local accounts | EUR 5 + 0.99% and GBP 5 + 0.99% per transaction (monthly volume up to 2,000 in that currency); custom from 2,000 to 100,000; 0.2% above 100,000 a month | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Receiving: Card payments via payment links | Not confirmed | Help centre examples use an MDR with 18% GST on the MDR, but the rate itself is not confirmed on a pricing page | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Currency conversion to INR | Product page states '0% forex markup' and 'ZERO FX on USD'; the applied FX rate and booking time are shown after withdrawal; non-USD markup Not confirmed | When foreign currency is converted | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Payout to an Indian bank | Funds are withdrawn to the user's Indian bank account in INR. USD reaches the bank 1 business day after processing and EUR or GBP 2 business days after, with a 1:00 PM IST cut-off. A separate fee for standard withdrawals is Not confirmed; priority processing for USD typically costs an additional $15-25. | When INR is sent to your account | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Account opening, set-up or maintenance | None stated: a Winvesta blog post (12 January 2026) says there are no fees for signing up, maintaining the account or receiving wire transfers | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Minimum balance | None | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Priority withdrawal processing | USD typically $15-25 extra; non-USD varies | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| e-FIRA | Free | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Other standard-plan currencies | AED 30, AUD 10, CHF 10, CZK 140, DKK 45, HKD 50, NOK 65, PLN 25, SEK 70 or SGD 10 + 0.99% per transaction; unlisted currencies equivalent of USD 5 + 0.99%; the product-page calculator uses CAD 7 + 0.99% for CAD, which the charges FAQ does not list | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| GST on fees | Not stated in one place. The charges FAQ states 18% GST will be levied on Winvesta fees for every non-JPMC account and does not explain which accounts are JPMC accounts. The fee calculator on the multi-currency account page (script) applies GST at 18% of the payment fee only for non-USD currencies and shows no GST for USD. A Winvesta blog post dated 12 January 2026 says 'No extra GST charges apply to your transactions'. For card collections, GST applies only to the MDR fee. | Applies to the platform's fee | Freelancers and small businesses collecting under 2,000 monthly per currency |
How do Wise Business and Winvesta compare on settlement speed?
- Wise Business: Wise states payments can arrive in under 90 minutes within business hours
- Winvesta: USD withdrawals reach the Indian bank 1 business day after processing (1:00 PM IST cut-off); EUR and GBP 2 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 |
| Winvesta | USD 1 business day, EUR/GBP 2; 1 pm IST cut-off | INR to Indian bank; standard fee not confirmed, priority $15-25 | Freelancers and small businesses collecting under 2,000 monthly per currency |
Do Wise Business and Winvesta 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 |
| Winvesta | Free e-FIRA emailed within 24 hours | States RBI compliant; PA-CB not confirmed on RBI page | 30 Sept 2026 | Freelancers and small businesses collecting under 2,000 monthly per currency |
Which currencies, countries and payment methods do Wise Business and Winvesta 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 |
| Winvesta | Conflicting: 30+ or 37+ currencies; local USD, EUR, GBP, CAD | US ACH, FedWire or RTP to local USD account details; SWIFT to USD account details (payers outside the US); EUR and GBP local accounts; Card payments via payment links | Yes, freelancers with PAN and Aadhaar | Yes, with business registration details | Freelancers and small businesses collecting under 2,000 monthly per currency |
What are the strengths and limitations of Wise Business and Winvesta?
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
Winvesta
- Published USD pricing: $3 + 0.99% per transaction on the standard plan, listed per currency in the help centre
- FX markup: States '0% forex markup' and 'ZERO FX on USD' on its multi-currency account page
- FIRA: Free e-FIRA emailed within 24 hours and downloadable from the dashboard
- Limits: States no limits on incoming transactions in USD and 30 other currencies
- Mid-volume pricing: collections between 2,000 and 100,000 a month per currency are on custom pricing that is not published, and tiers depend on monthly volume rather than invoice size
- GST: the charges FAQ adds 18% GST to fees for non-JPMC accounts without defining them; the product-page calculator applies it only to non-USD fees, and blog pages say 'No GST'
- Holding period: Funds can be held in the account for a maximum of 9 months
- No outgoing payments: Payments cannot be made directly from the collections account
Should you choose Wise Business or Winvesta?
- Choose Wise Business if: you need freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment.
- Choose Winvesta if: you need Indian freelancers and small businesses collecting under 2,000 a month per currency.
For example, an exporter billing $5,000 a month: Winvesta does not publish full pricing; Wise Business does.
Which other platforms should you consider besides Wise Business and Winvesta?
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 | ₹4,70,804 | 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 | ₹4,68,455 | 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 | ₹4,65,434 | 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 | ₹4,65,056 | 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)
- Winvesta FAQ: What are the charges for the global collections account?, Up to 2,000 a month: 0.99% + a small fixed fee; 2,000-100,000 a month: custom pricing; above 100,000 a month: flat 0.2%; USD Collections: $3 + 0.99%; 18% GST will be levied on Winvesta fees for every non-JPMC account (checked 7 Oct 2026)
- Winvesta Multi-Currency Business Account, Receive international payments at 0% forex markup; ZERO FX on USD; embeds a fee calculator: 'Payment fee @ 0.99% + $3.00'; 'GST (18% of payment fee converted to INR)' (checked 7 Oct 2026)
- Winvesta FAQ: How is Winvesta regulated? (checked 6 Oct 2026)
- Winvesta FAQ: Is Winvesta compliant with India's regulations? (checked 6 Oct 2026)
- Winvesta FAQ: How long does it take for funds to reach my Indian bank account? (checked 6 Oct 2026)
- Winvesta FAQ: When will I receive my e-FIRA certificate? (checked 6 Oct 2026)
- Winvesta FAQ: When will I get my Free FIRA? (checked 6 Oct 2026)
- Winvesta FAQ: How do I receive USD? (checked 6 Oct 2026)
- Winvesta FAQ: What are the transaction limits on my account? (checked 6 Oct 2026)
- Winvesta FAQ: What is the maximum time I can keep funds in my GCA? (checked 6 Oct 2026)
- Winvesta FAQ: Can I get priority processing for my withdrawal? (checked 6 Oct 2026)
- Winvesta FAQ: How is GST applied? (checked 6 Oct 2026)
- Winvesta FAQ: What documents do I need for KYC? (checked 6 Oct 2026)
- Winvesta FAQ: Documents to open a global collection account as a freelancer (checked 6 Oct 2026)
- Winvesta FAQ: Documents to open a global collections account as a business owner (checked 6 Oct 2026)
- Winvesta FAQ: Is there any minimum account balance that I need to maintain? (checked 6 Oct 2026)
- Winvesta FAQ: What currencies are available with local accounts? (checked 6 Oct 2026)
- Winvesta blog: PayPal vs Winvesta (12 January 2026), Withdrawal fees stand at $3 plus 0.99% of the amount; zero FX markup on USD conversions; No extra GST charges apply to your transactions; no fees for signing up, maintaining your account, or receiving wire transfers; page banner 'No FX markups. No GST. Funds in 1 day.' (checked 7 Oct 2026)
- Winvesta FAQ: How can I view the FX rate for the conversion of my funds?, Once your withdrawal is complete, you can see the FX rate used and the exact time it was applied (checked 7 Oct 2026)
- Winvesta multi-currency account fee calculator script, fixed fees USD 3, EUR 5, GBP 5, AED 30, AUD 10, CAD 7, CHF 10, CZK 140, DKK 45, HKD 50, NOK 65, PLN 25, SEK 70, SGD 10; fee = amount x 0.99% + fixed fee; GST = 0.18 x fee when currency is not USD, otherwise 0 (checked 7 Oct 2026)
FAQs about Wise Business vs Winvesta
Is Wise Business or Winvesta cheaper for receiving USD in India?
Winvesta does not publish full pricing; Wise Business does. At $2,000: Winvesta does not publish full pricing; Wise Business does. At $10,000: Winvesta 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 Winvesta?
Wise Business states: Wise states payments can arrive in under 90 minutes within business hours. Winvesta states: USD withdrawals reach the Indian bank 1 business day after processing (1:00 PM IST cut-off); EUR and GBP 2 business days. Check the platform's own pricing page before relying on these figures.
Do Wise Business and Winvesta both provide a FIRA?
Wise Business: eFIRC sent by email for every transfer; 2 USD each in Wise's calculator, plus 18% GST. Winvesta: Free e-FIRA emailed within 24 hours of funds reaching the Indian bank account, also downloadable from the portal. Check the platform's own pricing page before relying on these figures.
Are Wise Business and Winvesta 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 Winvesta?
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'. Winvesta, individuals: Yes. Its FAQ says Indian freelancers can open a Global Collections Account with PAN, Aadhaar, a marketing channel link and Indian bank details.
Should I switch from Wise Business to Winvesta?
Switch only if Winvesta 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.