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Karbon Business vs Remitly (2026): Which Is Better for Receiving International Payments in India?

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Editorial team, serviceexportguide.com
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Short answer

Remitly 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: Karbon Business is best for uS bank transfers and marketplace payouts, and Remitly is best for uS or Canadian business clients already using Remitly.1345

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareKarbon Business costs about 1.00 to 1.18%; Remitly does not publish full pricing.12
Bank transfer of USD 2,000Cannot compareKarbon Business costs about 1.00 to 1.18%; Remitly does not publish full pricing.12
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
Karbon Business is best forKarbon BusinessUS bank transfers and marketplace payouts.1
Remitly is best forRemitlyUS or Canadian business clients already using Remitly.345

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 costThis pageBank 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%
3WinvestaGlobal 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 Karbon Business and Remitly compare at a glance?

Karbon Business and Remitly 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.2167

Karbon BusinessRemitly
Best forUS bank transfers and marketplace payouts1US or Canadian business clients already using Remitly345
FeesKarbon's PayPal alternative page lists a 1% transaction fee in its feature list; its freelancer page gives no fee amount.21Remitly says there are no fees for the receiver in India. The sender pays the transfer fee: on its USD to INR page, $3.99 below $1,000 and $0 at $1,000 or more for personal transfers, with no fee on a new customer's first transfer.67
FX markupKarbon's freelancer page says 0% markup on inward remittance; its PayPal comparison page gives a forex markup of 0.5% to 1.0%. The home page says displayed amounts are indicative and depend on the rate booking date.128Remitly says it may earn from the difference between the rate at which it buys currency and the rate given to the sender. The rate is shown before the sender confirms; no markup percentage is published.97
SettlementKarbon says international payments reach India within 24 to 48 hours.1Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.4
FIRAKarbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.1Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.
CurrenciesKarbon names USD, EUR and GBP; the virtual account it describes is in USD.1Senders pay in the currency of the send country; Remitly Business sends from the US. Recipients in India receive INR.347
KYC: who can sign upKarbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.110Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.93465
RBI PA-CB statusKarbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.10118Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.129
SupportWhatsApp +91 74117 02726, sales@karboncard.com, support@karboncard.com and 1-800-309-8470.1Remitly says business customers get 24/7 support by phone or help centre.4
LimitsNot published by Karbon. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.Not published as amounts. Remitly says limits vary by country, delivery method and verification, and are shown when the sender starts a transfer.
How clients payBank transfer to a virtual USD account (US account details in the user's name), payment requests or invoices sent by email or WhatsApp, and as a payout method on Upwork, Fiverr and Toptal.1The client sends from a Remitly account: a US or Canadian business through Remitly Business, or an individual through the personal service for personal purposes only. Money arrives in India by bank deposit, UPI, cash pickup or wallet.94135
Card paymentsNot published.The sender can fund a transfer with a debit or credit card; the Indian recipient cannot accept card payments through Remitly.49

How much INR do you receive on $2,000, $5,000 and $10,000 with Karbon Business vs Remitly?

The INR you receive with Karbon Business and Remitly 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
Karbon BusinessMost INRBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹1,86,262 to ₹1,86,601₹4,65,655 to ₹4,66,503₹9,31,311 to ₹9,33,0071.00 to 1.18%

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 Karbon Business and who is it for?

Karbon Business is a Bengaluru fintech that markets a virtual USD account, payment requests and inward remittances in INR to Indian freelancers and exporters; its forex terms say export receipts are processed under a payment partner's connected user terms.110

  • Regulated by: Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.10118
  • Used by: Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.110
  • Best for: US bank transfers and marketplace payouts.1

What is Remitly and who is it for?

Remitly is a money transfer service whose personal service is limited to individuals sending for personal, family or household purposes; its Remitly Business product lets US businesses pay contractors, freelancers and suppliers in India.94

  • Regulated by: Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.129
  • Used by: Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.93465
  • Best for: US or Canadian business clients already using Remitly.345

How do Karbon Business and Remitly fees and FX markup compare?

Karbon Business and Remitly charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Karbon Business charge?

Transaction typeFeeFX markupGST on feesBest for
Bank transfer to a Karbon virtual USD account1%120%Not statedClients paying by local bank transfer

What does Remitly charge?

  • Fees: Remitly says there are no fees for the receiver in India. The sender pays the transfer fee: on its USD to INR page, $3.99 below $1,000 and $0 at $1,000 or more for personal transfers, with no fee on a new customer's first transfer.67

How do Karbon Business and Remitly compare on settlement speed?

Karbon Business and Remitly publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
Karbon BusinessKarbon says international payments reach India within 24 to 48 hours.1Paid in INR to the user's Indian bank account. Payout fee not published.12US bank transfers and marketplace payouts1
RemitlyRemitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.4Bank deposit, UPI, cash pickup or wallet in INR; the recipient does not need to withdraw anything.1346US or Canadian business clients already using Remitly345

Do Karbon Business and Remitly provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Karbon Business and Remitly 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.36

PlatformFIRARBI PA-CB statusBest for
Karbon BusinessKarbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.1Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.10118US bank transfers and marketplace payouts1
RemitlyNot published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.129US or Canadian business clients already using Remitly345

Which currencies, countries and payment methods do Karbon Business and Remitly support?

Karbon Business and Remitly accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
Karbon BusinessKarbon names USD, EUR and GBP; the virtual account it describes is in USD.1Bank transfer to a virtual USD account (US account details in the user's name), payment requests or invoices sent by email or WhatsApp, and as a payout method on Upwork, Fiverr and Toptal.1Not published.US bank transfers and marketplace payouts1
RemitlySenders pay in the currency of the send country; Remitly Business sends from the US. Recipients in India receive INR.347The client sends from a Remitly account: a US or Canadian business through Remitly Business, or an individual through the personal service for personal purposes only. Money arrives in India by bank deposit, UPI, cash pickup or wallet.94135The sender can fund a transfer with a debit or credit card; the Indian recipient cannot accept card payments through Remitly.49US or Canadian business clients already using Remitly345

What are the strengths and limitations of Karbon Business and Remitly?

Karbon Business and Remitly each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Karbon Business?

Strengths:

  • Your clients can pay by US bank transfer to a USD account, or you are paid out by Upwork, Fiverr or Toptal.1
  • You want INR in your Indian bank and a FIRA for each receipt.1

Limitations:

  • No receiving fee, payout fee or FIRA cost is published.18
  • Karbon itself is not an RBI-authorised payment aggregator; export receipts run through a third party under separate terms.1110
  • The forex terms address incorporated users, while marketing pages address freelancers; eligibility for unregistered individuals is not published.101
  • Purpose code handling and card payment options are not published.1

What are the strengths and limitations of Remitly?

Strengths:

  • Your client is a US or Canadian business that already uses, or is willing to open, a Remitly Business account to pay contractors in India.345
  • Your client is an individual paying for a personal need, such as private tutoring, which Remitly's personal terms permit.9

Limitations:

  • An Indian freelancer or company cannot open an account to receive or invoice through Remitly; the client must be the Remitly customer.934
  • Remitly Business is offered to businesses in the US and Canada only, and Remitly's personal terms prohibit sending for business purposes.395
  • Remitly is not on the RBI list of authorised PA-CB entities, and its pages do not mention a FIRA, FIRC or purpose code for the Indian recipient.1246

Should you choose Karbon Business or Remitly?

Choose between Karbon Business and Remitly by how your clients pay and your usual invoice size.

Choose Karbon Business if:

  • Your clients can pay by US bank transfer to a USD account, or you are paid out by Upwork, Fiverr or Toptal.1
  • You want INR in your Indian bank and a FIRA for each receipt.1

Choose Remitly if:

  • Your client is a US or Canadian business that already uses, or is willing to open, a Remitly Business account to pay contractors in India.345
  • Your client is an individual paying for a personal need, such as private tutoring, which Remitly's personal terms permit.9

For example, say a designer invoices a US client USD 2,000. Because Remitly 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.12897

Which other platforms should you consider besides Karbon Business and Remitly?

Other platforms to consider besides Karbon Business and Remitly are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.151617181920232426282930323334

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets140.68%151617181920Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.1921Skydo review
RazorpayLocal transfers from the US, UK and eurozone221.00 to 1.18%2324Razorpay 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.222524Razorpay review
WinvestaLocal transfers with a published per-payment fee26271.24%26282930Free 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.2928Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork311.00 to 4.00%323334Free 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.3435Payoneer 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]Karbon, Karbon for freelancers (checked 2026-10-28)
  2. [2]Karbon, PayPal alternative (checked 2026-10-28)
  3. [3]Remitly Business Account Agreement (US), updated 1 August 2026, sections 3, 4 and 8 (checked 2026-10-28)
  4. [4]Remitly, Business payments from the United States to India (checked 2026-10-28)
  5. [5]Remitly Canada, Remitly Business page and FAQ (checked 2026-10-31)
  6. [6]Remitly India, Receive money in India from family abroad (checked 2026-10-28)
  7. [7]Remitly, USD to INR rate and fees (checked 2026-10-28)
  8. [8]Karbon, Karbon FX Remittances, home page (checked 2026-10-28)
  9. [9]Remitly User Agreement (US), effective 23 February 2026, sections on account use, foreign currency exchange, commercial transactions and transactions to India (checked 2026-10-28)
  10. [10]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  11. [11]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), list dated 16 October 2026 (checked 2026-10-28)
  12. [12]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  13. [13]Remitly, Send money to India from the United States (checked 2026-10-28)
  14. [14]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  15. [15]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  16. [16]Skydo, Home page (checked 2026-10-28)
  17. [17]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  18. [18]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  19. [19]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  20. [20]Skydo, Terms of use (checked 2026-10-28)
  21. [21]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  22. [22]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  23. [23]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  24. [24]Razorpay, Pricing (checked 2026-10-28)
  25. [25]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  26. [26]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  27. [27]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  28. [28]Winvesta, Multi-currency account (checked 2026-10-28)
  29. [29]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  30. [30]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  31. [31]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  32. [32]Payoneer India, Payoneer Fees (checked 2026-10-28)
  33. [33]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  34. [34]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  35. [35]Payoneer India, Digital FIRC page (checked 2026-10-28)
  36. [36]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  37. [37]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Karbon Business or Remitly?+

There is no cost verdict for a USD 5,000 bank transfer: karbon Business costs about 1.00 to 1.18%; Remitly does not publish full pricing.12 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Karbon Business and Remitly give a FIRA to Indian exporters?+

Karbon Business: Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.1 Remitly: Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.

Can individual freelancers use Karbon Business and Remitly?+

Karbon Business: Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.110 Remitly: Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.93465

Are Karbon Business and Remitly authorised by the RBI?+

Karbon Business: Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.10118 Remitly: Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.129

How fast do Karbon Business and Remitly pay out to an Indian bank?+

Karbon Business: Karbon says international payments reach India within 24 to 48 hours.1 Remitly: Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.4

Do I still need an LUT if I am paid through Karbon Business or Remitly?+

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 Karbon Business, Remitly or a bank wire.37

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

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

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