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Airwallex vs Winvesta (2026): Which Is Better for Receiving International Payments in India?

Author:
Editorial team, serviceexportguide.com
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Editorial team
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14 min read

Short answer

Airwallex publishes enough pricing to estimate the cost of a USD 5,000 receipt, so there is no cost verdict. The better choice depends on how your client pays: Airwallex is best for registered businesses paid by bank transfer, and Winvesta is best for local transfers with a published per-payment fee.5617

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareWinvesta costs about 1.24%; Airwallex does not publish full pricing.1234
Bank transfer of USD 2,000Cannot compareWinvesta costs about 1.35%; Airwallex does not publish full pricing.1234
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
Airwallex is best forAirwallexRegistered businesses paid by bank transfer.56
Winvesta is best forWinvestaLocal transfers with a published per-payment fee.17

1,000 USD = ₹94,243 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#Provider and routeBest forFee (+GST)MarkupYou receiveCost
1Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹942plus GST, rate not stated0%₹93,131 to ₹93,3011.00 to 1.18%
2RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,000plus GST, rate not stated0%₹93,063 to ₹93,2431.06 to 1.25%
3WinvestaThis pageGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,4350%₹92,8091.52%
4SkydoPayment link (InstaLinks) paid by ACH debitLocal bank transfers from major markets₹1,885plus GST, rate not stated0%₹92,019 to ₹92,3582.00 to 2.36%
5PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹90,473 to ₹93,3011.00 to 4.00%
6PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹4,175no GST stated3 to 4%₹86,465 to ₹87,3667.30 to 8.25%

Not estimated because pricing is not fully published: Cashfree Payments, Dodo Payments, PingPong, Stripe, Tazapay, TransFi, Wise.

Where a provider says GST applies to its fee but not at what rate, the range runs from no GST to 18%, the rate Skydo, Stripe and Winvesta state on their pages. Estimates use each provider's published fee, conversion markup, GST on fees and FIRA charge, checked 2026-10-28, against the reference rate. They exclude charges taken by intermediary banks and your own bank, and the rate a provider actually applies at the time of conversion. Check the provider's pricing page before you choose. The order is calculated only from these published numbers; no provider can pay to change its position, and there are no affiliate links.

How do Airwallex and Winvesta compare at a glance?

Airwallex and Winvesta compare on the twelve points below, using each provider's published information as checked on 28 October 2026. Where a provider does not publish something, the table says so.81

AirwallexWinvesta
Best forRegistered businesses paid by bank transfer56Local transfers with a published per-payment fee17
FeesSingapore fee schedule: 0% for collections in most currencies; 0.60% for KRW, VND, BRL and MYR collections. A fee for incoming SWIFT payments is not listed.8Up to 2,000 a month per currency: 0.99% plus a fixed fee per transaction ($3 for USD, EUR 5, GBP 5, AUD 10, SGD 10, other currencies the equivalent of $5). 2,000 to 100,000 a month: custom pricing. Above 100,000 a month: 0.2% per transaction with no fixed fee. Winvesta says 18% GST is levied on its fees for every non-JPMC account.1
FX markupSingapore fee schedule: 0.40% mark-up for major currencies (AUD, USD, HKD, CNY, JPY, EUR, GBP, CAD, CHF, NZD, SGD); 0.60% for a list that includes INR; a 1.00% Auto Conversion Fee is listed without a definition. How the margin applies to a USD to INR conversion is not published.89Winvesta advertises 0% forex markup and zero FX on USD, and shows the exact FX rate applied and its booking time after each withdrawal. The reference rate is not published.210
SettlementAirwallex's docs give 0 to 2 business days for local INR payouts to India and 0 to 3 business days for SWIFT payouts to India.11USD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.121314
FIRAAirwallex says an FIRC is issued by an authorised bank in India; you request it from Airwallex support through the chatbot in the web app, and Airwallex coordinates with its banking partner. Airwallex says there may be a fee, set by the banking partner. The amount is not published.15Free e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.32
CurrenciesAirwallex says Global Accounts collect in 20+ currencies. The list available to an India-registered business is not published.96Local account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).7161
KYC: who can sign upIndia-registered companies and LLPs, proprietorships and partnerships, and MSMEs, per Airwallex's India document list. Proprietorships and partnerships need a GST Registration Certificate. No route for unregistered individual freelancers is listed.5Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1718
RBI PA-CB statusAirwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1982021Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.222021
SupportHelp centre and support request form; for FIRC requests Airwallex directs users to the chatbot in the logged-in web app. India-specific support channels are not published.915Email support@winvesta.in; phone +91-(0)20-7117 8885, Monday to Friday, 10:00 am to 6:00 pm IST.2
LimitsAirwallex's docs list no maximum transaction limit for local INR or SWIFT payouts to India. Limits for India-registered account holders are not published.11Winvesta says there are no limits on incoming transactions in USD and 30 other currencies. Its FAQs give different maximum holding periods (30 days in one answer, 9 months in another).231624
How clients payLocal bank transfer or SWIFT to Global Account details (for example USD in the United States by ACH or Fedwire, GBP by Faster Payments, EUR by SEPA). Airwallex says restrictions apply by onboarding entity and does not publish which accounts an India-registered business receives. Card acceptance availability for India-registered businesses is not published.625Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.7261614
Card paymentsSingapore pricing: 3.30% for domestic cards and 3.60% for international cards, plus a SG$0.50 gateway fee per transaction. Airwallex says the company must be registered in an eligible country for the payment method; whether India is eligible is not published on the pages checked.825Yes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1427

How much INR do you receive on $2,000, $5,000 and $10,000 with Airwallex vs Winvesta?

The INR you receive with Airwallex and Winvesta is the invoice at the reference rate, less each provider's fee, conversion markup, GST on fees and FIRA charge. The table works this out from published pricing at today's rate.

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
WinvestaMost INRGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,85,951₹4,65,377₹9,31,0881.24%

Ranked by INR received on USD 5,000. Reference rate: European Central Bank data for 13 November 2026. Fees, conversion markup, GST on fees and FIRA charges as published by each provider, checked 28 October 2026. Ranges appear where a provider publishes a range or does not state its GST rate. Intermediary bank charges are excluded. See the methodology.

What is Airwallex and who is it for?

Airwallex is a global business account and payments company; its help centre lists India as a registration location onboarded by its Singapore entity, and it publishes no India-specific pricing page.199

  • Regulated by: Airwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1982021
  • Used by: India-registered companies and LLPs, proprietorships and partnerships, and MSMEs, per Airwallex's India document list. Proprietorships and partnerships need a GST Registration Certificate. No route for unregistered individual freelancers is listed.5
  • Best for: Registered businesses paid by bank transfer.56

What is Winvesta and who is it for?

Winvesta is a Mumbai-based company whose Global Collections Account gives Indian businesses and freelancers local USD, EUR, GBP and CAD account details, with withdrawal to INR and a free e-FIRA.2163

  • Regulated by: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.222021
  • Used by: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1718
  • Best for: Local transfers with a published per-payment fee.17

How do Airwallex and Winvesta fees and FX markup compare?

Airwallex and Winvesta charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Airwallex charge?

Transaction typeFeeFX markupGST on feesBest for
Local transfer to Global Account details (Singapore fee schedule)0%819150.6%Not statedClients paying by local bank transfer
Card acceptance, international cards (Singapore fee schedule)3.6% + SGD 0.58150.6%Not statedClients paying by card

What does Winvesta charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections Account, standard plan (up to 2,000 a month per currency)0.99% + plus a fixed fee by currency12340%18%Clients paying by local bank transfer
Card payment through Winvesta payment linksNot published140%Not statedClients paying by card

How do Airwallex and Winvesta compare on settlement speed?

Airwallex and Winvesta publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
AirwallexAirwallex's docs give 0 to 2 business days for local INR payouts to India and 0 to 3 business days for SWIFT payouts to India.11Airwallex pays out to Indian bank accounts in INR by NEFT, IMPS, RTGS or iACH, or by SWIFT in foreign currencies. The Singapore fee schedule lists local payouts at $0 and SWIFT payouts at $20 (SHA) or $35 (OUR). Whether payout to your own Indian account is automatic is not published.118Registered businesses paid by bank transfer56
WinvestaUSD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.121314The user withdraws to an Indian bank account in INR after providing an invoice for the receipt. Priority withdrawal is available on request, typically for a $15 to $25 additional fee on USD.16474Local transfers with a published per-payment fee17

Do Airwallex and Winvesta provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Airwallex and Winvesta publish the FIRA position and RBI status below, checked on 28 October 2026. An e-BRC is generated by the exporter on the DGFT portal from bank remittance data, so it does not depend on the provider issuing one.48

PlatformFIRARBI PA-CB statusBest for
AirwallexAirwallex says an FIRC is issued by an authorised bank in India; you request it from Airwallex support through the chatbot in the web app, and Airwallex coordinates with its banking partner. Airwallex says there may be a fee, set by the banking partner. The amount is not published.15Airwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1982021Registered businesses paid by bank transfer56
WinvestaFree e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.32Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.222021Local transfers with a published per-payment fee17

Which currencies, countries and payment methods do Airwallex and Winvesta support?

Airwallex and Winvesta accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
AirwallexAirwallex says Global Accounts collect in 20+ currencies. The list available to an India-registered business is not published.96Local bank transfer or SWIFT to Global Account details (for example USD in the United States by ACH or Fedwire, GBP by Faster Payments, EUR by SEPA). Airwallex says restrictions apply by onboarding entity and does not publish which accounts an India-registered business receives. Card acceptance availability for India-registered businesses is not published.625Singapore pricing: 3.30% for domestic cards and 3.60% for international cards, plus a SG$0.50 gateway fee per transaction. Airwallex says the company must be registered in an eligible country for the payment method; whether India is eligible is not published on the pages checked.825Registered businesses paid by bank transfer56
WinvestaLocal account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).7161Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.7261614Yes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1427Local transfers with a published per-payment fee17

What are the strengths and limitations of Airwallex and Winvesta?

Airwallex and Winvesta each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Airwallex?

Strengths:

  • Your business is a registered Indian company, LLP, partnership or GST-registered proprietorship that wants local account details abroad for clients paying by bank transfer.56
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.98
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.15

Limitations:

  • Airwallex does not appear under the name Airwallex in RBI's list of authorised payment aggregators, including PA-CB, as on 16 October 2026.2021
  • There is no India pricing page; India-registered businesses are onboarded by the Singapore entity, whose fee schedule does not mention India.198
  • The India document list requires a GST Registration Certificate for proprietorships and partnerships, and lists no route for unregistered individual freelancers.5
  • The FIRC is issued on request through support, and its fee is set by a banking partner and not published.15
  • Purpose code handling for receipts into India is not published.49
  • SWIFT payouts cost $20 (SHA) or $35 (OUR) under the Singapore fee schedule.8

What are the strengths and limitations of Winvesta?

Strengths:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.71
  • You are a freelancer without a registered business who has a PAN and Aadhaar.17
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

Limitations:

  • Winvesta is not on the RBI's list of authorised payment aggregators and does not name its banking partner on its pages.2022
  • Each withdrawal needs an invoice with the purpose code and other mandatory fields.47
  • The fixed fee per transaction ($3 on USD) weighs more on small receipts.1
  • Card collection fees are not published.2714
  • Winvesta's own pages disagree on the number of currencies, the maximum holding period and card settlement time.161241314

Should you choose Airwallex or Winvesta?

Choose between Airwallex and Winvesta by how your clients pay and your usual invoice size.

Choose Airwallex if:

  • Your business is a registered Indian company, LLP, partnership or GST-registered proprietorship that wants local account details abroad for clients paying by bank transfer.56
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.98
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.15

Choose Winvesta if:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.71
  • You are a freelancer without a registered business who has a PAN and Aadhaar.17
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

For example, say a designer invoices a US client USD 2,000. Because Airwallex does not publish full pricing for that case, ask for a quote in writing and compare it with the FIRA rate after the first payment.89210

Which other platforms should you consider besides Airwallex and Winvesta?

Other platforms to consider besides Airwallex and Winvesta are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.29303132333436373940434445

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets280.68%293031323334Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.3335Skydo review
Karbon BusinessUS bank transfers and marketplace payouts361.00 to 1.18%3637Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.36Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone381.00 to 1.18%3940Razorpay provides a Foreign Inward Remittance Statement (FIRS), sent to the contact email within 24 hours after settlement for bank transfers, and downloadable from the dashboard, which shows bank-provided certificates and Razorpay-generated statements. The pricing page lists FIRC or eFIRC as included and auto-generated for international cards. No separate charge is published.384140Razorpay review
PayoneerMarketplace payouts such as Amazon or Upwork421.00 to 4.00%434445Free digital FIRA PDF for each transaction, issued by Payoneer's partner AD bank and available in the account under Manage, Reports and statements, within 24 to 72 hours (the same help article also says 1 to 3 business days). The e-FIRA/IRM in EDPMS is issued by the exporter's own bank, which may need the FIRA plus export documents.4546Payoneer review

Compare every provider on your own invoice in the platform cost comparison.

How did we verify this?

We checked this page against the sources below on 28 October 2026. Provider fees, conversion markups and RBI payment aggregator (PA-CB) status were checked on 28 October 2026. Rupee amounts use European Central Bank reference rates for 13 November 2026. Read our methodology or report an error.

  1. [1]Winvesta FAQ, What are the charges for the Global Collections Account? (checked 2026-10-28)
  2. [2]Winvesta, Multi-currency account (checked 2026-10-28)
  3. [3]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  4. [4]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  5. [5]Airwallex Help Centre, Documents required for companies in South East Asia (India section) (checked 2026-10-28)
  6. [6]Airwallex Help Centre, Which currencies can I get a Global Account in and what payments can I receive? (checked 2026-10-28)
  7. [7]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  8. [8]Airwallex Singapore, Fee schedule, last updated 10 October 2026 (checked 2026-10-28)
  9. [9]Airwallex Singapore, Pricing (checked 2026-10-28)
  10. [10]Winvesta FAQs, How can I view the FX rate for the conversion of my funds? (checked 2026-10-28)
  11. [11]Airwallex Docs, Payout network: bank accounts, India (checked 2026-10-28)
  12. [12]Winvesta FAQs, How long does it take for funds to reach my Indian bank account? (checked 2026-10-28)
  13. [13]Winvesta FAQs, How does settlement work? Do I need to submit an invoice to withdraw funds? (checked 2026-10-28)
  14. [14]Winvesta, Card Collections via Payment Links (checked 2026-10-28)
  15. [15]Airwallex Help Centre, What is an FIRC and how do I get one? (checked 2026-10-28)
  16. [16]Winvesta FAQs, What is a global collections account and how does it work? (checked 2026-10-28)
  17. [17]Winvesta FAQs, What documents do I need to open a global collection account as a freelancer? (checked 2026-10-28)
  18. [18]Winvesta FAQs, What documents do I need to open a global collections account as a business owner? (checked 2026-10-28)
  19. [19]Airwallex Help Centre, Eligible Countries and Territories (checked 2026-10-28)
  20. [20]RBI: Payment System Operators authorised under the Payment and Settlement Systems Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  21. [21]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  22. [22]Winvesta FAQs, How is Winvesta regulated? (checked 2026-10-28)
  23. [23]Winvesta FAQs, What are the transaction limits on my account? (checked 2026-10-28)
  24. [24]Winvesta FAQs, What is the maximum time I can keep funds in my GCA? (checked 2026-10-28)
  25. [25]Airwallex Help Centre, Payments Eligibility (checked 2026-10-28)
  26. [26]Winvesta FAQs, How do I receive USD? (checked 2026-10-28)
  27. [27]Winvesta FAQs, My client paid ₹1,000, and their bank charged them a 2% fee. How does that affect me? (checked 2026-10-28)
  28. [28]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  29. [29]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  30. [30]Skydo, Home page (checked 2026-10-28)
  31. [31]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  32. [32]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  33. [33]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  34. [34]Skydo, Terms of use (checked 2026-10-28)
  35. [35]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  36. [36]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  37. [37]Karbon, PayPal alternative (checked 2026-10-28)
  38. [38]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  39. [39]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  40. [40]Razorpay, Pricing (checked 2026-10-28)
  41. [41]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  42. [42]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  43. [43]Payoneer India, Payoneer Fees (checked 2026-10-28)
  44. [44]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  45. [45]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  46. [46]Payoneer India, Digital FIRC page (checked 2026-10-28)
  47. [47]Winvesta FAQs, What GST invoice do I need to withdraw funds? (checked 2026-10-28)
  48. [48]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  49. [49]Airwallex Help Centre, How can I create a transfer/payout? (checked 2026-10-28)
  50. [50]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Airwallex or Winvesta?+

There is no cost verdict for a USD 5,000 bank transfer: winvesta costs about 1.24%; Airwallex does not publish full pricing.1234 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Airwallex and Winvesta give a FIRA to Indian exporters?+

Airwallex: Airwallex says an FIRC is issued by an authorised bank in India; you request it from Airwallex support through the chatbot in the web app, and Airwallex coordinates with its banking partner. Airwallex says there may be a fee, set by the banking partner. The amount is not published.15 Winvesta: Free e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.32

Can individual freelancers use Airwallex and Winvesta?+

Airwallex: India-registered companies and LLPs, proprietorships and partnerships, and MSMEs, per Airwallex's India document list. Proprietorships and partnerships need a GST Registration Certificate. No route for unregistered individual freelancers is listed.5 Winvesta: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1718

Are Airwallex and Winvesta authorised by the RBI?+

Airwallex: Airwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1982021 Winvesta: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.222021

How fast do Airwallex and Winvesta pay out to an Indian bank?+

Airwallex: Airwallex's docs give 0 to 2 business days for local INR payouts to India and 0 to 3 business days for SWIFT payouts to India.11 Winvesta: USD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.121314

Do I still need an LUT if I am paid through Airwallex or Winvesta?+

Yes, if you are registered under GST and want to invoice the export without IGST. The Letter of Undertaking is a GST filing for the financial year, and it does not depend on how the money reaches you, whether through Airwallex, Winvesta or a bank wire.50

This page is general information for Indian service exporters, not tax or legal advice. Rules change and outcomes depend on your facts, so confirm with a chartered accountant before acting.

Keep reading

Platforms

Airwallex for Indian service exporters: how it works, costs and limits

How Indian businesses can use Airwallex to get paid from abroad: Singapore onboarding, who can sign up, fees, FIRC on request, purpose codes and the 2026 RBI rules.

Platforms

Winvesta for Indian service exporters: how it works, costs and limits

How Winvesta's Global Collections Account works for Indian freelancers and businesses: local USD, EUR, GBP, CAD details, fees, free e-FIRA, purpose codes, EDF and limits.

Compare

What Are the Best Airwallex Alternatives for Indian Exporters and Freelancers in 2026?

Airwallex alternatives for Indian freelancers and agencies, ordered by estimated cost: INR received on $2,000 to $10,000, fees, FX markup, FIRA and RBI status.

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What Are the Best Winvesta Alternatives for Indian Exporters and Freelancers in 2026?

Winvesta alternatives for Indian freelancers and agencies, ordered by estimated cost: INR received on $2,000 to $10,000, fees, FX markup, FIRA and RBI status.