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

Skydo is an Indian company that collects payments from foreign clients for Indian exporters and pays them out in rupees. This page sets out what Skydo and the RBI publish about how it works, what it costs and where its limits are, as of October 2026.¹²

Is Skydo good for Indian exporters and freelancers?

Skydo suits Indian exporters whose clients are in its seven local-account markets and pay by bank transfer, with invoices large enough that a flat fee is a small share.⁴⁶

The sections below set out each point with Skydo's own wording.

What is Skydo and who is Skydo for?

Skydo is a cross-border payment service run by Skydo Technologies Private Limited, a company registered in Bengaluru, that receives payments from customers outside India for exports of goods, services and software from India.² Its terms say payments can arrive by direct transfer or payment link and are converted and credited to the user's Indian bank account.²

• Regulated by: the RBI lists Skydo Technologies Private Limited as a PA-CB-I & O, defined on the list as "Payment Aggregator- Cross Border facilitating Inward & Outward transaction", authorised on 8 January 2026.¹ Skydo's terms say it uses partner banks to provide the service.²
• Used by: Skydo says the service is built for Indian freelancers and exporters.³ Its terms say the services are intended for business-related and commercial activities, so personal remittances are outside its scope.²
• Best for: Local bank transfers from major markets.⁶

For example, a marketing consultant billing a London client would give the client GBP local details, while a video editor billing a client in Kenya in USD would use the SWIFT account.⁶⁷

How do you open a Skydo account in India?

You open a Skydo account by signing up as an eligible individual or entity and completing Skydo's KYC.²

1. Check eligibility: Skydo's terms require individuals to be at least 18 and competent to contract, and allow companies and other entities to act through an authorised representative; "Person" includes a proprietorship.²
2. Complete KYC: Skydo says it is not obliged to provide services until KYC is completed to its satisfaction.²
3. Share your account details: clients in the US, UK, UAE, Canada, Europe, Australia and Singapore get local details; others use the international SWIFT account.⁶⁷

The KYC document list for each entity type was not verified for this review. Skydo's terms also list prohibited categories, including cryptocurrency products and speculative trading.²

What are Skydo fees and FX markup?

Skydo says it charges a flat fee per transaction: USD 19 plus GST up to USD 2,000, USD 29 plus GST from USD 2,001 to USD 10,000, and 0.3% plus GST above USD 10,000.⁴ Skydo's product page says conversion has 0% markup; its terms say a retail rate set by Skydo or its partner banks applies.²³

Skydo itself says invoices under $1,000 carry a higher effective rate.³⁴ See Skydo fees in India for the full breakdown.

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

The table below estimates the INR you receive through Skydo on three invoice sizes, from Skydo's published fees at today's exchange rate.⁴

How fast does Skydo settle payments to India?

Skydo states settlement times on its product page, in its terms and on its InstaLinks FAQ.²³¹⁷

• Product page: funds settle within 24 hours.³
• Terms of use: commercially reasonable efforts to credit within T+1 to T+3 business days.²
• InstaLinks ACH Debit: typically takes up to 6 business days.¹⁷

Plan cash flow around the longer timelines until you see how your own payments settle.

Does Skydo provide FIRA and e-BRC, and is Skydo RBI PA-CB authorised?

Skydo says it issues a free FIRA (Foreign Inward Remittance Advice) on every payment received, and the RBI lists Skydo Technologies Private Limited as a PA-CB for inward and outward transactions, authorised on 8 January 2026.³¹

Skydo's terms do not mention FIRA or purpose codes.² See FIRC vs FIRA vs e-BRC.

How does Skydo handle the purpose code?

Skydo says it supports 37 purpose codes for inward remittance, including P0802, P0807, P1006 and P1007, and tags the purpose code on each remittance.³¹¹ See purpose codes for freelancers.

How do the 2026 EDF and realisation rules apply to money received through Skydo?

The EDF and realisation rules apply to the exporter for every export of services, including receipts through Skydo.¹⁵ From 1 October 2026, under the FEMA (Export and Import of Goods and Services) Regulations, 2026 (the 2026 Regulations), every exporter of services gives an Export Declaration Form (EDF) to the specified authority, usually the AD bank, within 30 days from the end of the month of invoicing; exporters of non-software services may instead file it on or before the date payment is received.¹⁵ The realisation period for services is nine months from the invoice date, or twelve months if invoiced or settled in Indian rupees.¹⁵¹⁶

The RBI's Master Direction on payment aggregators requires a PA-CB to provide the documents or information an exporter needs to the AD bank so that the exporter's entry in EDPMS can be closed.¹⁴ Skydo's product page says it offers EDF filing assistance.³ Skydo does not publish which AD bank holds the EDF record for its users or how matching works in practice, so ask Skydo and your bank. See the export realisation period and EDPMS for service exporters. For your own position, confirm with a chartered accountant.

Which currencies, countries and payment methods does Skydo support?

Skydo supports local bank transfers in seven currencies, an international SWIFT account and ACH Debit payment links.⁶⁷¹³

What are the pros and cons of Skydo?

Skydo's strengths are RBI PA-CB status, a published flat fee and a free FIRA; its limits are a minimum amount, excluded countries and no card option.^13491013

Pros:

• RBI status: listed as a PA-CB for inward and outward transactions since 8 January 2026.¹
• Published flat fee: USD 19 or USD 29 plus GST per payment up to USD 10,000.⁴
• FIRA: free on every payment.³
• Purpose codes: 37 codes, including P0807.³¹¹
• Local accounts: seven markets plus a SWIFT account.⁶⁷
• EDF help: the product page says Skydo offers EDF filing assistance.³

Cons:

• Minimum amount: payments below USD 50 cannot be processed, and users with more than 20 low-value payments are asked to contact support.¹⁰
• Excluded countries: payments from 15 countries are not accepted, and the list is published only as an image.⁹
• No cards: no card payment option or card fee is published.¹³
• Settlement time: the terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days.²
• Transaction cap: Skydo says there is no upper limit, while the RBI caps each PA-CB transaction at ₹25 lakh, and Skydo does not explain how the cap applies.¹⁰¹⁴

Is Skydo worth it for Indian exporters and freelancers?

Skydo is worth considering for exporters paid by bank transfer from its seven local-account markets on invoices well above USD 1,000, who want a FIRA on each payment.³⁴⁶

• Larger bank transfer invoices: the flat fee is a smaller share.⁴
• Clients in excluded countries or paying by card: Skydo does not fit.⁹¹³
• Many payments under USD 50: Skydo cannot process them.¹⁰

For example, an agency billing a UK client by GBP local transfer would pay one flat fee per invoice, while a freelancer whose clients pay by card would need another route.⁴⁶¹³

What are the best alternatives to Skydo?

The alternatives below are listed in the order of estimated cost on published fees that this site uses, cheapest first. The full list is on Skydo alternatives.

Head-to-head pages: Wise vs Skydo, Payoneer vs Skydo and PayPal vs Skydo.