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PayPal, Wise or Payoneer: Which Way of Receiving International Payments Actually Costs Least

Author:: Editorial team, serviceexportguide.com
Verified by:: Editorial team
Published: 31 October 2026
Last modified: 31 October 2026
Fees checked on: 28 October 2026
Reading time: 7 min read

Short answer

On published fees for a USD 5,000 receipt, Skydo, Razorpay and Karbon Business cost least, at 0.68% to 1.18%.⁹¹⁰¹¹ PayPal charges 4.40% plus a fixed fee before conversion.¹² Payoneer charges 1% to 4% to convert to INR.¹³ Wise publishes no INR conversion percentage.¹⁴ RBI caps each PA-CB payment at ₹25 lakh in 2026.¹

Applies to	Rules involved	Platforms compared	Last verified
Indian freelancers and exporters receiving foreign payments²	FEMA 2026 Regulations, PA Master Direction paragraph 11(d), GST on platform fees¹³¹⁵	Skydo, Razorpay, Karbon Business, Payoneer, PayPal, Wise⁹¹⁰¹¹¹²¹³¹⁴	31 October 2026⁴

Invoice amountCurrencyHow the client pays

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 route	Best for	Fee (+GST)	Markup	You receive	Cost
1	Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD account	US bank transfers and marketplace payouts	₹942plus GST, rate not stated	0%	₹93,131 to ₹93,301	1.00 to 1.18%
2	RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)	Local transfers from the US, UK and eurozone	₹1,000plus GST, rate not stated	0%	₹93,063 to ₹93,243	1.06 to 1.25%
3	WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)	Local transfers with a published per-payment fee	₹1,435	0%	₹92,809	1.52%
4	SkydoPayment link (InstaLinks) paid by ACH debit	Local bank transfers from major markets	₹1,885plus GST, rate not stated	0%	₹92,019 to ₹92,358	2.00 to 2.36%
5	PayoneerLocal bank transfer to Payoneer receiving account details	Marketplace payouts such as Amazon or Upwork	₹0no GST stated	1 to 4%	₹90,473 to ₹93,301	1.00 to 4.00%
6	PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹4,175no GST stated	3 to 4%	₹86,465 to ₹87,366	7.30 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.

The question "which costs least?" has a different answer for a $500 logo job and a $5,000 monthly retainer. Some providers charge a flat fee, some a percentage, and some take most of their margin in the exchange rate, which is harder to see.⁹¹²¹⁴ This page lays the published fees of PayPal, Wise and Payoneer next to the three lowest-cost providers on published fees, and shows where each one wins. For USD alone, see the cheapest way to receive USD in India.

How do PayPal, Wise and Payoneer compare on the cost of receiving international payments?

PayPal, Wise and Payoneer charge in three different ways: PayPal by percentage plus conversion, Payoneer by conversion, and Wise by a conversion fee it does not express as a percentage.¹²¹³¹⁴ The table orders providers by estimated cost on a USD 5,000 receipt from published fees, cheapest first; Wise follows because its INR conversion percentage is not published.⁹¹⁰¹¹¹²¹³¹⁴

Platform	Best for	Fee	FX markup	Settlement	FIRA	RBI PA-CB status	Source
Skydo	Local bank transfers from major markets	USD 19 plus GST up to USD 2,000; USD 29 plus GST from USD 2,001 to 10,000; 0.3% plus GST above	0% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)	Within 24 hours (product page); T+1 to T+3 business days (terms)	Free FIRA on every payment	Authorised PA-CB I & O (8 January 2026)	⁴⁹¹⁸¹⁹³⁰
Razorpay	Local transfers from the US, UK and eurozone	1% plus GST per bank transfer; flat ₹1,000 on transactions below ₹1,00,000	Razorpay says 0% markup on bank transfers	T+1 for bank transfers	Foreign Inward Remittance Statement (FIRS) within 24 hours of settlement	Authorised PA-CB I & O (19 December 2023)	⁴¹⁰²⁰
Karbon Business	US bank transfers and marketplace payouts	1% transaction fee, listed on its PayPal comparison page	0% (freelancer page); 0.5% to 1.0% (PayPal alternative page)	24 to 48 hours	FIRA for every transaction from a banking partner	Not on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB	⁴¹¹²¹²²
Payoneer	Marketplace payouts such as Amazon or Upwork	Free to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page); USD 29.95 annual fee if you receive under USD 6,000 in 12 months	1% to 4% when converted to INR	Within 24 hours (multi-currency account page); within 48 hours (pricing page)	Free digital FIRA for each payment from a partner AD bank	In-principle PA-CB authorisation (22 January 2026); RBI lists it as unable to operate as a PA-CB until authorised	⁶¹³¹⁶²³²⁴
PayPal	Clients paying by card or PayPal balance	4.40% plus a fixed fee per payment (USD 0.30, EUR 0.35, AUD 0.30, CAD 0.30)	PayPal lists 3.0% and 4.00% above its base rate	Up to 5 business days	Free weekly digital FIRA from February 2026	In-principle PA-CB authorisation; not on RBI's authorised list	⁴⁶¹²²⁵²⁶²⁷
Wise	Bank transfers to local account details	Domestic (non-Swift) receipts free (business fee table); 2 USD equivalent per transfer to the INR account (help article); USD 6.11 per USD wire or Swift payment; 18% GST on Wise fees	Mid-market rate plus a fee that depends on the currency; no INR percentage published	INR reaches the bank within 1 to 2 days of Wise receiving the payment	e-FIRC for each transfer within 3 working days	Authorised PA-CB-I (12 March 2026)	⁴¹⁴¹⁵²⁸

Estimated cost at USD 5,000: Skydo 0.68%, Razorpay 1.00% to 1.18%, Karbon Business 1.00% to 1.18%, Payoneer 1.00% to 4.00% and PayPal 7.27% to 8.23%, on each provider's published fees.⁹¹⁰¹¹¹²¹³
Order changes with size: At USD 2,000 the order on published fees is Razorpay, Karbon Business, then Skydo at 1.12%.⁹¹⁰¹¹

Run your own figures in the international payment fee calculator.

Which RBI rule governs money received from abroad?

Money received from abroad for services, where the supply meets the five export conditions of IGST section 2(6), is governed by the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (the 2026 Regulations), whichever provider you pick.²³ Cost never changes these obligations.

Rule	Best for (who it applies to)	Plain meaning	Source
Regulations 3 and 4: EDF	Every service exporter	EDF to the AD bank within 30 days from the end of the invoice month	³
Regulation 5: realisation	Exporters waiting on payment	Nine months from invoice; twelve months for rupee invoices	⁷
Regulation 19: bank charges	Exporters paid by wire	Banks publish documents, timelines and charges	³
Paragraph 11(d): PA-CB cap	Exporters paid through a PA-CB	₹25 lakh per transaction	¹

What does each option charge?

Each option's total cost is the receiving fee, any conversion fee or markup, GST on the provider's fee and any annual or fixed charges.¹²¹³¹⁵

Platform	Best for	Receiving fee	Conversion	Other charges	Source
Skydo	Local bank transfers from major markets	USD 19 or 29 plus GST by band; 0.3% plus GST above USD 10,000	0% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)	Minimum payment USD 50	⁹¹⁸¹⁹²⁹³⁰
Razorpay	Local transfers from the US, UK and eurozone	1% plus GST; flat ₹1,000 below ₹1,00,000	0% markup on bank transfers, per Razorpay	Flash Links ACH debit 2%	¹⁰²⁰
Karbon Business	US bank transfers and marketplace payouts	1% transaction fee	0% (freelancer page); 0.5% to 1.0% (PayPal alternative page)	Payout fee not published	¹¹²¹
Payoneer	Marketplace payouts such as Amazon or Upwork	Free to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page)	1% to 4%	USD 29.95 a year below USD 6,000 received	¹³¹⁶²³
PayPal	Clients paying by card or PayPal balance	4.40% plus a fixed fee	3.0% or 4.00% above base rate	Chargeback fee USD 8.00 standard	¹²²⁵
Wise	Bank transfers to local account details	Free domestic (business fee table); 2 USD equivalent per transfer to the INR account (help article); USD 6.11 by wire or Swift	Currency-dependent fee	18% GST on fees	¹⁴¹⁵²⁸

Measure any provider's real rate against the reference rate with the FX markup calculator.

Which option is cheapest at $500, $2,000 and $5,000?

On published fees, percentage-based providers cost least on a small invoice and flat-fee providers cost least on a large one.⁹¹⁰¹² The table below works out the INR you receive on each provider at today's rate.

Platform	Best for	INR on USD 2,000	INR on USD 5,000	INR on USD 10,000	Cost on USD 5,000
SkydoMost INRTransfer to Skydo local account details or international SWIFT account	Local bank transfers from major markets	₹1,86,373	₹4,67,991	₹9,39,206	0.68%
Karbon BusinessBank transfer to a Karbon virtual USD account	US bank transfers and marketplace payouts	₹1,86,262 to ₹1,86,601	₹4,65,655 to ₹4,66,503	₹9,31,311 to ₹9,33,007	1.00 to 1.18%
RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)	Local transfers from the US, UK and eurozone	₹1,86,262 to ₹1,86,601	₹4,65,655 to ₹4,66,503	₹9,31,311 to ₹9,33,007	1.00 to 1.18%
PayoneerLocal bank transfer to Payoneer receiving account details	Marketplace payouts such as Amazon or Upwork	₹1,80,947 to ₹1,86,601	₹4,52,367 to ₹4,66,503	₹9,04,734 to ₹9,33,007	1.00 to 4.00%
PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹1,72,958 to ₹1,74,760	₹4,32,436 to ₹4,36,940	₹8,64,899 to ₹8,73,908	7.27 to 8.23%

Not estimated because pricing for USD is not fully published: Wise.

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.

For example, Skydo's USD 19 plus GST is about 4.5% of a $500 invoice and 0.68% of a $5,000 invoice at USD 29 plus GST.⁹ PayPal's 4.40% plus USD 0.30 stays near 4.4% at every size, before conversion.¹² Razorpay's 1% plus GST is 1.18% on payments of ₹1,00,000 and above.¹⁰

What documents do you get from each option?

Each option gives a different proof of receipt, and a cheaper provider is only useful if its document satisfies your bank and GST records.⁸

Platform	Best for	Proof of receipt	Source
Skydo	Local bank transfers from major markets	Free FIRA on every payment	¹⁹
Razorpay	Local transfers from the US, UK and eurozone	FIRS within 24 hours of settlement	²⁰
Karbon Business	US bank transfers and marketplace payouts	FIRA per transaction from a banking partner	²¹
Payoneer	Marketplace payouts such as Amazon or Upwork	Free digital FIRA per payment	²⁴
PayPal	Clients paying by card or PayPal balance	Free weekly digital FIRA; custom FIRA at ₹100 plus GST each	²⁷
Wise	Bank transfers to local account details	e-FIRC per transfer within 3 working days	²⁸

The e-BRC is self-certified on the DGFT portal from your bank's inward remittance data.⁸ See FIRC vs FIRA vs e-BRC.

What changes in 2026 for exporters comparing costs?

Exporters comparing costs in 2026 should know about new RBI authorisations, the 2026 Regulations, the EDF for services and the nine-month realisation period.³⁴⁷

Authorisations: RBI lists Skydo, Razorpay and Wise as authorised PA-CBs, and Payoneer and PayPal with in-principle authorisation.⁴⁶
2026 Regulations: In force from 1 October 2026.³
EDF: Every service exporter files one from 1 October 2026.³
Realisation: Nine months from the invoice date.⁷
PayPal FIRA: Free weekly digital FIRA from February 2026.²⁷

The cost ranking above uses published fees only, and providers can change them, so check the provider's own page on the day you choose. The compare hub applies the same criteria to every provider.

How did we verify this?

We checked this page against the sources below on 31 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.

Frequently asked questions

What is the cheapest way to receive international payments in India in 2026?+

On published fees for a USD 5,000 receipt, Skydo costs about 0.68% and Razorpay and Karbon Business 1.00% to 1.18%.⁹¹⁰¹¹ The cheapest option changes with invoice size and payment method, so compare at your own typical invoice before you choose.

Is PayPal or Payoneer cheaper for Indian freelancers?+

For bank transfers, Payoneer's published cost is lower: local receiving is free on its multi-currency page and a fixed fee or 1% for non-local currencies on its pricing page, and conversion to INR costs 1% to 4%.¹³¹⁶ PayPal charges 4.40% plus a fixed fee per international payment, before its 3.0% or 4.00% conversion fee.¹² PayPal suits clients who want to pay by card or PayPal balance.

Does Wise charge to receive money in India?+

Wise's business fee table lists domestic receipts as free and USD 6.11 per USD wire or Swift payment, and its India help article gives a 2 USD equivalent per transfer to the INR account, with 18% GST on its fees.¹⁵²⁸ Conversion to INR is at the mid-market rate plus a currency-dependent fee, shown in Wise's calculator rather than as a percentage.¹⁴

Why do I receive less than the Google exchange rate?+

Providers convert at their own rate and may add a fee or markup on top, so the INR you receive is below the mid-market rate. PayPal lists a 3.0% or 4.00% conversion fee above its base rate, and Payoneer 1% to 4% on INR withdrawals.¹²¹³ Use the FX markup calculator to measure it.

Is GST charged on payment platform fees in India?+

Several providers add GST to their own fees. Wise says 18% GST applies to its fees, Skydo and Razorpay quote their fees plus GST, and Winvesta says it levies 18% GST on its fees.⁹¹⁰¹⁵¹⁷ The export invoice itself stays zero-rated under IGST section 16.⁵

Is a bank wire cheaper than PayPal for receiving money from abroad?+

A bank wire's cost is set by your bank's published policy, which the 2026 Regulations require banks to publish with documents, timelines and charges.³ Compare that schedule, plus the bank's exchange rate, with PayPal's published 4.40% plus a fixed fee and conversion fee.¹²

Are there hidden annual fees on Payoneer in India?+

Payoneer charges a USD 29.95 annual account fee if you receive less than USD 6,000, or equivalent, in any 12 consecutive months.¹³ Funds cannot be held in the balance by Indian customers; payments are withdrawn to the Indian bank automatically.¹³

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.

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