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Revolut vs Skydo (2026): Which Is Better for Receiving International Payments in India?

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Editorial team, serviceexportguide.com
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12 min read

Short answer

Revolut 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: Revolut is best for personal spending, not export receipts, and Skydo is best for local bank transfers from major markets.8910

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareSkydo costs about 0.68%; Revolut does not publish full pricing.123456
Bank transfer of USD 2,000Cannot compareSkydo costs about 1.12%; Revolut does not publish full pricing.123456
Client paying USD 2,000 by card or linkCannot compareSkydo costs about 2.00 to 2.36%; Revolut does not publish full pricing.2756
Revolut is best forRevolutPersonal spending, not export receipts.89
Skydo is best forSkydoLocal bank transfers from major markets.10

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%
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%
4SkydoThis pagePayment 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 Revolut and Skydo compare at a glance?

Revolut and Skydo 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.1112

RevolutSkydo
Best forPersonal spending, not export receipts89Local bank transfers from major markets10
FeesRevolut says it does not charge fees for receiving a bank transfer into the INR account by UPI.11Skydo 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.12
FX markupNot applicable to receiving: the India wallet holds INR only. No inward conversion rate is published.8Skydo'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.56
SettlementRevolut says UPI transfers to the INR account are usually instant.11Skydo'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.5612
FIRANot published. Revolut's India pages do not mention a FIRA or FIRC.Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513
CurrenciesINR only for the India wallet. Revolut's India terms say PPIs can only be used for payments in Indian rupees.811Local accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1014
KYC: who can sign upIndividuals, for personal use. Revolut's India terms say you cannot use a Revolut Account for business purposes. Revolut Business requires a company registered in the UK, the EEA or the US; India is listed only as a country where an applicant for such a company may reside.815Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65
RBI PA-CB statusRevolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.168Skydo 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.166
SupportRevolut India publishes 24/7 in-app chat, support-india@revolut.com and a phone number.8Skydo publishes support@skydo.com and phone 7026000500.4
LimitsUp to 25 inbound UPI transfers or INR 4,00,000 a day, whichever comes first, and a total INR balance of no more than INR 2,00,000 at any time.11Skydo says the minimum transaction is USD 50 and there is no upper limit on the amount you can receive. The RBI Master Direction caps each PA-CB inward or outward transaction at ₹25 lakh; Skydo's pages do not explain how this applies to its account transfers.417
How clients payRevolut India says money can be received into the INR account by UPI only; NEFT, IMPS and RTGS are not supported. No route for a foreign client to pay a Revolut India account from abroad is published.118Bank transfer to Skydo local account details in seven markets, or to an international SWIFT account for other currencies and countries; Skydo also offers payment links (InstaLinks) with ACH Debit.101876
Card paymentsNot available for receiving. Revolut India does not publish a way to accept card payments from clients.811Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.

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

The INR you receive with Revolut and Skydo 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
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%

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 Revolut and who is it for?

Revolut in India is a personal app run by Revolut Payments India Private Limited, an RBI-authorised prepaid payment instrument issuer whose INR wallet cannot be used for business purposes.816

  • Regulated by: Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.168
  • Used by: Individuals, for personal use. Revolut's India terms say you cannot use a Revolut Account for business purposes. Revolut Business requires a company registered in the UK, the EEA or the US; India is listed only as a country where an applicant for such a company may reside.815
  • Best for: Personal spending, not export receipts.89

What is Skydo and who is it for?

Skydo is a Bengaluru-based payment aggregator, listed by the RBI as a PA-CB for inward and outward transactions, that gives Indian exporters local and SWIFT account details abroad and pays out in INR to their Indian bank.16610

  • Regulated by: Skydo 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.166
  • Used by: Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65
  • Best for: Local bank transfers from major markets.10

How do Revolut and Skydo fees and FX markup compare?

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

What does Revolut charge?

  • Fees: Revolut says it does not charge fees for receiving a bank transfer into the INR account by UPI.11

What does Skydo charge?

Transaction typeFeeFX markupGST on feesBest for
Transfer to Skydo local account details or international SWIFT accountUSD 19 up to USD 2,000; USD 29 up to USD 10,000; 0.3% above that1234560%18%Clients paying by local bank transfer
Payment link (InstaLinks) paid by ACH debit2% + minimum USD 927560%Not statedClients paying through a payment link

How do Revolut and Skydo compare on settlement speed?

Revolut and Skydo publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
RevolutRevolut says UPI transfers to the INR account are usually instant.11Revolut says unloading the INR wallet is free on the Standard plan.9Personal spending, not export receipts89
SkydoSkydo'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.5612Converted to INR and credited to the user's Indian bank account; Skydo says there is no additional SWIFT fee for the transfer to India apart from its own fee.35Local bank transfers from major markets10

Do Revolut and Skydo provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Revolut and Skydo 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.35

PlatformFIRARBI PA-CB statusBest for
RevolutNot published. Revolut's India pages do not mention a FIRA or FIRC.Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.168Personal spending, not export receipts89
SkydoSkydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513Skydo 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.166Local bank transfers from major markets10

Which currencies, countries and payment methods do Revolut and Skydo support?

Revolut and Skydo accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
RevolutINR only for the India wallet. Revolut's India terms say PPIs can only be used for payments in Indian rupees.811Revolut India says money can be received into the INR account by UPI only; NEFT, IMPS and RTGS are not supported. No route for a foreign client to pay a Revolut India account from abroad is published.118Not available for receiving. Revolut India does not publish a way to accept card payments from clients.811Personal spending, not export receipts89
SkydoLocal accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1014Bank transfer to Skydo local account details in seven markets, or to an international SWIFT account for other currencies and countries; Skydo also offers payment links (InstaLinks) with ACH Debit.101876Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.Local bank transfers from major markets10

What are the strengths and limitations of Revolut and Skydo?

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

What are the strengths and limitations of Revolut?

Strengths:

  • You want a personal INR wallet and card for your own spending, separate from how you get paid for exports.89

Limitations:

  • Revolut's India terms prohibit using a Revolut Account for business purposes.8
  • The India wallet holds INR only and receives money by UPI only, so a foreign client cannot pay into it from abroad by any published route.811
  • Revolut Business is not available to companies registered in India.15
  • Revolut India is not an RBI-authorised PA-CB and its pages do not mention a FIRA, FIRC or purpose code.168

What are the strengths and limitations of Skydo?

Strengths:

  • Your clients are in the US, UK, UAE, Canada, Europe, Australia or Singapore and can pay by local bank transfer in their own currency.10
  • Your invoices are large enough that a flat USD 19 or USD 29 fee is a small share of the amount; Skydo itself says invoices under $1,000 carry a higher effective rate.15
  • You want a FIRA issued for each payment by an RBI-authorised PA-CB.516

Limitations:

  • Payments below USD 50 cannot be processed, and the flat fee weighs more on small invoices.45
  • Skydo says it does not accept payments from 15 countries, but lists them only in an image.36
  • No card payment option or card fee is published.7
  • Skydo's pages give different settlement times (within 24 hours on its product page, T+1 to T+3 business days in its terms) and describe its FX rate differently (0% markup on its product page, a retail rate set by Skydo or its partner banks in its terms).56
  • Skydo's terms limit the service to business and commercial payments, so it does not cover personal remittances.6

Should you choose Revolut or Skydo?

Choose between Revolut and Skydo by how your clients pay and your usual invoice size.

Choose Revolut if:

  • You want a personal INR wallet and card for your own spending, separate from how you get paid for exports.89

Choose Skydo if:

  • Your clients are in the US, UK, UAE, Canada, Europe, Australia or Singapore and can pay by local bank transfer in their own currency.10
  • Your invoices are large enough that a flat USD 19 or USD 29 fee is a small share of the amount; Skydo itself says invoices under $1,000 carry a higher effective rate.15
  • You want a FIRA issued for each payment by an RBI-authorised PA-CB.516

For example, say a designer invoices a US client USD 2,000. Because Revolut 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.856

Which other platforms should you consider besides Revolut and Skydo?

Other platforms to consider besides Revolut and Skydo are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.1920222325272829313233

PlatformBest forEstimated cost on USD 5,000FIRAReview
Karbon BusinessUS bank transfers and marketplace payouts191.00 to 1.18%1920Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.19Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone211.00 to 1.18%2223Razorpay 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.212423Razorpay review
WinvestaLocal transfers with a published per-payment fee25261.24%25272829Free 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.2827Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork301.00 to 4.00%313233Free 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.3334Payoneer 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]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  2. [2]Skydo, Home page (checked 2026-10-28)
  3. [3]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  4. [4]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  5. [5]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  6. [6]Skydo, Terms of use (checked 2026-10-28)
  7. [7]Skydo FAQ, What are the fees for using Payment Links? (checked 2026-10-28)
  8. [8]Revolut India, Personal terms, effective 19 November 2025, sections 1, 2, 4 and 20 (checked 2026-10-28)
  9. [9]Revolut India, Personal fees (Standard), from the week of 24 November 2025 (checked 2026-10-28)
  10. [10]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  11. [11]Revolut India Help, How to transfer funds to Revolut (checked 2026-10-28)
  12. [12]Skydo FAQs, How long does settlement take on InstaLinks? (checked 2026-10-28)
  13. [13]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  14. [14]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  15. [15]Revolut Business Help, Eligible countries and territories for Revolut Business (checked 2026-10-28)
  16. [16]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  17. [17]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraph 11 (checked 2026-10-28)
  18. [18]Skydo FAQs, When should I use the International SWIFT account and when should I use the Local Account? (checked 2026-10-28)
  19. [19]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  20. [20]Karbon, PayPal alternative (checked 2026-10-28)
  21. [21]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  22. [22]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  23. [23]Razorpay, Pricing (checked 2026-10-28)
  24. [24]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  25. [25]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  26. [26]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  27. [27]Winvesta, Multi-currency account (checked 2026-10-28)
  28. [28]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  29. [29]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  30. [30]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  31. [31]Payoneer India, Payoneer Fees (checked 2026-10-28)
  32. [32]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  33. [33]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  34. [34]Payoneer India, Digital FIRC page (checked 2026-10-28)
  35. [35]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  36. [36]Skydo FAQs, From which countries I can not receive payments using Skydo? (checked 2026-10-28)
  37. [37]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Revolut or Skydo?+

There is no cost verdict for a USD 5,000 bank transfer: skydo costs about 0.68%; Revolut does not publish full pricing.123456 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Revolut and Skydo give a FIRA to Indian exporters?+

Revolut: Not published. Revolut's India pages do not mention a FIRA or FIRC. Skydo: Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513

Can individual freelancers use Revolut and Skydo?+

Revolut: Individuals, for personal use. Revolut's India terms say you cannot use a Revolut Account for business purposes. Revolut Business requires a company registered in the UK, the EEA or the US; India is listed only as a country where an applicant for such a company may reside.815 Skydo: Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65

Are Revolut and Skydo authorised by the RBI?+

Revolut: Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.168 Skydo: Skydo 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.166

How fast do Revolut and Skydo pay out to an Indian bank?+

Revolut: Revolut says UPI transfers to the INR account are usually instant.11 Skydo: Skydo'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.5612

Do I still need an LUT if I am paid through Revolut or Skydo?+

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 Revolut, Skydo 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.

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