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Remitly, Instarem or Western Union: Which Wise Alternatives Can Send Money from India?

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Editorial team, serviceexportguide.com
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Short answer

Resident individuals in India can send up to USD 2,50,000 per financial year under RBI's Liberalised Remittance Scheme (LRS).1 Western Union India lets verified customers send up to 5,000 USD per transfer for purposes other than education in 2026.2 Instarem's India site offers transfers from India, while Remitly's India page covers receiving money only.34

Applies toRules involvedPlatforms comparedLast verified
Resident individuals sending money abroad; exporters receiving payments15LRS (USD 2,50,000 a year); TCS on LRS above ₹10 lakh; MTSS (inbound only)167Skydo, Razorpay, Karbon Business, Instarem, Remitly, Western Union, Wise831 October 20268

The search for the best Wise alternatives for sending money from India mixes two different jobs. Sending money out of India is an outward remittance under RBI's Liberalised Remittance Scheme (LRS), available to resident individuals.1 Getting paid by foreign clients is an export receipt, which needs a provider that can carry business payments and issue proof of receipt.57 The original question names Remitly as a way to send from India, but Remitly's India page covers receiving money only, so this page's title asks which of these services can send money from India.4

How do Remitly, Instarem, Western Union and Wise compare for sending money from India?

Instarem, Western Union and Wise publish ways to send money from India, while Remitly's India page covers receiving only.39104 The table also lists Skydo, Razorpay and Karbon Business, the lowest-cost providers on this site's ranking for exporters receiving a $5,000 USD payment; ranked providers come first, then the rest A to Z.111213

PlatformBest forFeeFX markupSettlementFIRARBI PA-CB statusSource
SkydoLocal bank transfers from major markets14Skydo says it charges USD 19 plus GST for transactions up to USD 2,000, USD 29 plus GST from USD 2,001 to USD 10,000, and 0.3% plus GST above USD 10,000; payments above USD 100K a month are priced on request.1115Skydo's product page says conversion is at a live mid-market rate with 0% markup. Its terms say conversion uses a retail foreign exchange rate determined by Skydo or its partner banks and do not guarantee the most favourable rate.1617Skydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.161718Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.1619Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.817Skydo pages and RBI list158
RazorpayLocal transfers from the US, UK and eurozone20MoneySaver bank transfers: 1% per transaction, GST applicable, with a flat fee of ₹1,000 on transactions below ₹1,00,000. Flash Links (US ACH debit): 2%. International cards: up to 3% per successful transaction plus 18% GST on the pricing page (the international payments page says 3% plus taxes). Enterprise pricing is custom.122122MoneySaver bank transfers: Razorpay says 0% FX markup, converting at the live exchange rate. Card payments: converted at the rate on the date of payment (the processing bank's rate, per Razorpay's docs); any markup on card conversions is not published.122123Push bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.20241225Razorpay 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.202621Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).8Razorpay pages and RBI list218
Karbon BusinessUS bank transfers and marketplace payouts27Karbon's PayPal alternative page lists a 1% transaction fee in its feature list; its freelancer page gives no fee amount.1327Karbon'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.271328Karbon says international payments reach India within 24 to 48 hours.27Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.27Not on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB29828Karbon pages and RBI list278
InstaremSending money from India, per its India site3Instarem says fees and exchange rates vary by sending amount, currency, payment method and receiving country.3Instarem describes rates close to mid-market; no percentage published.3Not publishedNot applicable to outward transfersNot on RBI's payment aggregator list.8Instarem India and RBI list38
RemitlyUS business clients already using Remitly3031Sending from India: not offered on the pages checked. Receiving in India: no receiver fee.4Remitly 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.3233Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.31Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.314Remitly 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.832Remitly pages and RBI list48
Western UnionPersonal transfers within LRS limits2Not published on the pages checked.Not published on the pages checked.Not published on the pages checked.Not applicable to outward transfersNot on RBI's payment aggregator list; listed under the cross-border Money Transfer Service Scheme, inbound only.8Western Union India and RBI list28
WiseBank transfers to local account details34Sending: Wise's India send page says fees start from 0.1%. Receiving: see Wise's business receive fees.1034Wise says it uses the mid-market rate and shows fees upfront.10Not published for outward transfers on the page checked.An e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.3435RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.834 Outward LRS transfers are facilitated by Vaho Forex Private Limited.10Wise pages and RBI list108

For outward LRS transfers, Wise names Vaho Forex Private Limited, an RBI-authorised Authorised Dealer Category-II.10

Which platforms are named as Wise alternatives for sending money from India, and can Indian exporters use them?

Remitly, Instarem and Western Union are named as Wise alternatives for sending money, and none of them publishes a route for Indian exporters to receive client payments.3237

ServiceBest forSends from India?Suits export receipts?
InstaremSending money from India, per its India site3Yes, per its India site.3Not described on the pages checked.3
RemitlyUS business clients already using Remitly3031Not on the pages checked; its India page covers receiving.4Only from a US or Canadian business using Remitly Business; the personal service bars business use.304032
Western UnionPersonal transfers within LRS limits2Yes, for verified customers.2No: inbound Western Union payments run under the MTSS, which excludes trade-related remittances.87
WiseBank transfers to local account details34Yes, through Vaho Forex under LRS.10Yes, through Wise Business as an RBI-authorised PA-CB-I.8

The rules behind those answers depend on whether money leaves India or arrives.17

RuleBest for (who it applies to)Plain meaningSource
LRS limitResident individuals sending money abroadUp to USD 2,50,000 per financial year, April to March, including minors.1RBI LRS Master Direction1
LRS eligibilityCompanies, firms, HUFs and trustsThe scheme is not available to them.1RBI LRS Master Direction1
LRS purposesFamilies sending gifts or supportGifts and maintenance of relatives abroad are permitted within the limit.1RBI LRS Master Direction1
TCS on LRSSenders above ₹10 lakh a year20% above ₹10 lakh for most purposes; 2% for education or medical treatment, from 1 April 2026, per a bank notice.6Standard Chartered Bank notice (secondary)6
MTSSFamilies receiving money in IndiaInward personal remittances only; no outward remittance; no trade-related remittances; USD 2,500 per remittance; 30 a year per beneficiary.7RBI MTSS Master Direction7

Confirm the TCS rate with your bank before sending, because the bank collects it at the time of the transfer.6

What does each option charge?

Each option publishes its sending costs differently, and Western Union and Instarem show the fee only at the time of the transfer.32

PlatformBest forSending feeLimits
InstaremSending money from India, per its India site3Varies by amount, currency, payment method and receiving country.3Depends on destination country and payment method.3
RemitlyUS business clients already using Remitly3031Not offered from India on the pages checked.4Not applicable
Western UnionPersonal transfers within LRS limits2Not published on the pages checked.10,000 USD per transfer for education; 5,000 USD for other purposes; 250,000 USD a financial year.2
WiseBank transfers to local account details34From 0.1%, per Wise's India send page.10Shown on Wise's India send page by recipient type.10

TCS, where it applies, sits on top of any provider fee, because the bank collects it on the remitted amount.6

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

For exporters receiving money, Skydo, Razorpay and Karbon Business cost least on a $5,000 USD receipt on this site's ranking of published fees.111213 Sending costs are not compared here because Instarem and Western Union do not publish fixed fees.32

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
SkydoMost INRTransfer to Skydo local account details or international SWIFT accountLocal bank transfers from major markets₹1,86,373₹4,67,991₹9,39,2060.68%
Karbon BusinessBank 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%
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 ₹9,33,0071.00 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.

For example, Skydo's $19 fee is 3.8% of a $500 receipt and 0.95% of a $2,000 receipt before GST, and its $29 fee is 0.58% of a $5,000 receipt before GST.11 For a sender, TCS of 20% applies only to the part of a year's LRS remittances above ₹10 lakh for most purposes, per the bank notice.6

What documents do you need for each option?

Senders need KYC with the provider, while exporters receiving money need proof of receipt for GST and the bank.236

DocumentBest forWhat it doesSource
PAN and proof of addressWestern Union sendersVerifies your profile once, at a Yes Bank branch or by Aadhaar e-KYC.2Western Union India2
University letter or visaInstarem education transfersInstarem may ask for supporting documents depending on the reason for transfer.3Instarem India3
FIRA or e-FIRCExporters receiving paymentsAdvice that a foreign payment reached your account; Wise and Skydo issue one per payment.3416Provider pages3416
e-BRCExporters proving realisationSelf-certified on DGFT from the bank's IRM data.36DGFT36
EDFEvery service exporterExport Declaration Form to the AD bank from 1 October 2026.37RBI FEMA 2026 Regulations37

For a client payment arriving by wire, see what an inward remittance is.

What changes in 2026 for people sending money from India?

People sending money from India in 2026 see new TCS rates, a new income-tax law and an updated MTSS direction.6387

  • TCS from 1 April 2026: The bank notice gives nil TCS for education loan remittances and 2% above ₹10 lakh for education or medical treatment.6
  • Income tax: The Income-tax Act, 2025 applies from 1 April 2026, with tax year 2026-27 running from 1 April 2026 to 31 March 2027.38
  • MTSS: RBI updated the Money Transfer Service Scheme Master Direction on 29 September 2026, still for inward personal remittances only.7
  • Wise: RBI's list dates Wise Payments India's PA-CB-I authorisation for inward payments 12 March 2026.8
  • Exporters: The FEMA (Export and Import of Goods and Services) Regulations, 2026 came into force on 1 October 2026, with an EDF for every service exporter.37

Exporters looking for a way to get paid should read Wise alternatives instead.

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.

  1. [1]RBI: Master Direction, Liberalised Remittance Scheme (LRS), updated as on 6 September 2024, paragraphs A.1, A.3 and A.7 (checked 2026-10-31)
  2. [2]Western Union India, Register and send money online from India (checked 2026-10-31)
  3. [3]Instarem India, home page and FAQ (checked 2026-10-31)
  4. [4]Remitly India, Receive money in India from family abroad (checked 2026-10-28)
  5. [5]CBIC: IGST Act, 2017, section 2(6) (export of services)
  6. [6]Standard Chartered Bank India, Revised TCS on LRS remittances effective 1 April 2026 (bank notice, secondary; checked 2026-10-31)
  7. [7]RBI: Master Direction, Money Transfer Service Scheme (MTSS), updated as on 29 September 2026, paragraphs 1.1 and 3.4 (checked 2026-10-31)
  8. [8]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB) and cross-border Money Transfer (MTSS) sections, list dated 16 October 2026 (checked 2026-10-31)
  9. [9]Western Union India, home page (checked 2026-10-31)
  10. [10]Wise India, Send money (outward remittances under LRS facilitated by Vaho Forex Private Limited) (checked 2026-10-31)
  11. [11]Skydo FAQs, How much does Skydo charge? (checked 2026-10-28)
  12. [12]Razorpay, Multi-Currency Account for International Bank Transfers (MoneySaver Export Account pricing) (checked 2026-10-28)
  13. [13]Karbon Business, PayPal Alternative comparison page (checked 2026-10-28)
  14. [14]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  15. [15]Skydo, home page fee table (checked 2026-10-28)
  16. [16]Skydo, Receive international payments as a freelancer in India (product page) (checked 2026-10-28)
  17. [17]Skydo, Terms of Use, last updated 9 April 2026 (checked 2026-10-28)
  18. [18]Skydo FAQs, How long does settlement take on InstaLinks? (checked 2026-10-28)
  19. [19]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  20. [20]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  21. [21]Razorpay, Pricing, International Payments and International Bank Transfers tabs (checked 2026-10-28)
  22. [22]Razorpay, Accept International Payments (checked 2026-10-28)
  23. [23]Razorpay Docs, Currency Conversion (checked 2026-10-28)
  24. [24]Razorpay Docs, Flash Links (ACH Debit) (checked 2026-10-28)
  25. [25]Razorpay Docs, International Payments FAQs (checked 2026-10-28)
  26. [26]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  27. [27]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  28. [28]Karbon, Karbon FX Remittances, home page (checked 2026-10-28)
  29. [29]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  30. [30]Remitly Business Account Agreement (US), updated 1 August 2026, sections 3, 4 and 8 (checked 2026-10-28)
  31. [31]Remitly, Business payments from the United States to India (checked 2026-10-28)
  32. [32]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)
  33. [33]Remitly, USD to INR rate and fees (checked 2026-10-28)
  34. [34]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  35. [35]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  36. [36]DGFT: eBRC system, self-certification of eBRC from bank inward remittance messages (IRMs), Trade Notice 33/2023-24 dated 10 November 2023
  37. [37]RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, FEMA 23(R)/2026-RB, amended up to 22 September 2026, regulations 3, 4 and 5
  38. [38]PIB: Income-tax Act, 2025 in force from 1 April 2026
  39. [39]Wise Help Centre, How to verify your Indian business to receive payments (checked 2026-10-28)
  40. [40]Remitly Canada, Remitly Business page and FAQ (checked 2026-10-31)

Frequently asked questions

Can I send money from India using Remitly?+

Remitly's India page is built for receiving money in India, with no receiver fee and delivery by bank deposit, cash pickup or wallet. The pages checked do not offer a way to send money from India. Remitly's US agreement says it processes transfers to India under RBI's Rupee Drawing Arrangements.432

What is the limit for sending money abroad from India under LRS?+

RBI's Liberalised Remittance Scheme lets resident individuals, including minors, send up to USD 2,50,000 per financial year from April to March. Gifts and maintenance of relatives abroad fall within the same limit. The scheme is not available to companies, partnership firms, HUFs or trusts.1

How much can I send per transfer with Western Union from India?+

Western Union India says verified customers can send up to 10,000 USD per transfer for education and up to 5,000 USD for other purposes, within 250,000 USD in one financial year. Verification needs a PAN card and proof of address at a Yes Bank branch, or Aadhaar e-KYC online.2

Is TCS charged when I send money abroad from India?+

Banks collect tax at source on LRS remittances above ₹10 lakh in a financial year. A Standard Chartered Bank notice for transfers from 1 April 2026 gives 20% above ₹10 lakh for most purposes and 2% for education or medical treatment.6

Can a freelancer receive client payments through Western Union in India?+

RBI's Money Transfer Service Scheme allows only inward personal remittances such as family maintenance. Trade-related remittances may not be made through it, each remittance is capped at USD 2,500, and one beneficiary can receive 30 a year. Client payments for services need a different route.7

Does Wise let people in India send money abroad?+

Wise's India send page says online outward remittances under LRS are facilitated by Vaho Forex Private Limited, an RBI-authorised Authorised Dealer Category-II. Wise says it uses the mid-market exchange rate and shows its fee upfront before you send. Receiving money in India is a separate Wise Business service.1039

Which is the cheapest way to receive export payments instead of using a remittance app?+

On this site's ranking of published fees for a $5,000 USD receipt, Skydo, Razorpay and Karbon Business cost least, all by bank transfer to local account details. Each issues a FIRA or FIRS, which remittance apps do not publish for Indian recipients.111213

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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