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SWIFT, Payoneer or Wise: How to Actually Get Paid by a Client in China

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Editorial team, serviceexportguide.com
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Short answer

Payoneer lists local CNY receiving details for Indian users.33 Wise offers CNY only as international account details.36 A SWIFT wire lands with your AD bank, whose charges must be in its published policy.1 SAFE says a Chinese payer record-files with tax authorities before service payments above USD 50,000.17 From 1 October 2026, every Indian service export needs an EDF.1

Applies toRules involvedPlatforms comparedLast verified
Indian freelancers and businesses invoicing clients in China8FEMA (Export and Import of Goods and Services) Regulations, 2026; PA Master Direction 11(d); SAT and SAFE Announcement No. 40 of 20131517Skydo, Razorpay, Karbon Business, Payoneer, SWIFT wire, Wise631 October 2026

6,700 CNY = ₹94,640 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
1PayoneerLowest estimated costLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹90,854 to ₹93,6931.00 to 4.00%

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.

Getting paid by a client in China raises questions that a US or UK client does not: which currency to invoice in, whether a payment provider accepts CNY, and why the client's finance team asks for paperwork before it pays. This page compares a SWIFT wire, Payoneer and Wise for Indian freelancers, agencies and IT companies, with the RBI, SAFE and GST rules that apply.

Chinese clients usually pay through their bank, and larger service payments carry a tax filing step on the Chinese side, as described by China's State Administration of Foreign Exchange (SAFE).17 On the Indian side, the export rules are the same as for any other country.1 Confirm your own setup with a chartered accountant (CA).

How do SWIFT, Payoneer and Wise compare for getting paid by a client in China?

SWIFT, Payoneer and Wise differ in how a client in China pays: a SWIFT wire goes straight to your Indian bank, Payoneer lists local CNY receiving details, and Wise offers CNY only through international account details paid by Swift.13336 This site's cost model has no CNY ranking for these three, so the table uses the USD ranking on USD 5,000 from published fees for providers that publish USD routes, cheapest first, followed by the rest A to Z.20262934

PlatformBest forFeeFX markupSettlementFIRARBI PA-CB statusSource
SkydoLocal bank transfers from major markets18USD 19 plus GST up to USD 2,000; USD 29 plus GST from USD 2,001 to USD 10,000; 0.3% plus GST above2021Product page: mid-market rate, 0% markup; terms: retail rate set by Skydo or its partner banks2223Within 24 hours per product page; T+1 to T+3 business days per terms2223Free FIRA on every payment2224PA-CB-I & O, authorised 8 January 20266Skydo fee FAQ and currency FAQ1920
RazorpayLocal transfers from the US, UK and eurozone25MoneySaver: 1% plus GST, flat ₹1,000 below ₹1,00,000260% markup at the live rate on MoneySaver bank transfers26T+1 for push transfers, including SWIFT25FIRS within 24 hours after settlement2527PA-CB I & O6Razorpay docs25
Karbon BusinessUS bank transfers and marketplace payouts281% transaction fee on its PayPal alternative page290% on its freelancer page; 0.5% to 1.0% on its PayPal comparison page282924 to 48 hours28FIRA for every transaction28Not on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB630Karbon pages28
PayoneerMarketplace payouts such as Amazon or Upwork35Local CNY receiving listed; free per the India account page, or "fixed fee or 1%" per the pricing page33341% to 4% when converting to INR34Within 24 hours (multi-currency account page); within 48 hours (pricing page)3334Free digital FIRA from a partner AD bank32In-principle PA-CB authorisation on 22 January 2026; RBI Table E as on 16 October 2026731Payoneer account page33
SWIFT wire to your Indian bankClients whose bank only pays by international wireSet in your bank's published charges policy1Your bank's buying rateDepends on the banks in the chainFIRA or advice from your bank; e-BRC self-certified from its IRM12Not applicable: an authorised dealer bank12026 Regulations1
WiseBank transfers to local account details36CNY Swift fee not published; general table lists 6.11 USD per USD Swift payment39Mid-market rate plus a currency-dependent fee; no INR percentage published3738Swift transfers take 2 to 6 working days to reach Wise; INR within 1 to 2 days after36e-FIRC per transfer within 3 working days36PA-CB-I, authorised 12 March 20266Wise help article36

Skydo, Razorpay and Karbon publish USD routes, but none of the pages checked says whether payers in China are accepted, so ask before you send a client the details.192528

Which RBI rule governs money from China?

Money from a client in China is governed by the FEMA (Export and Import of Goods and Services) Regulations, 2026 on the Indian side, and by Chinese foreign exchange and tax filing rules on the client's side.117

RuleBest forPlain meaningSource
2026 Regulations, regulations 3 and 4Every invoice to ChinaFile an EDF within 30 days from the end of the invoice month, or by the payment date for non-software services1RBI1
2026 Regulations, regulation 5 as amendedEvery invoice to ChinaRealise payment within nine months, or twelve months for rupee invoices2RBI2
2026 Regulations, regulation 19SWIFT wiresBanks publish a policy listing documents, timelines and charges1RBI1
PA Master Direction, paragraph 11(d)Payments through Wise or another PA-CB₹25 lakh cap per transaction5RBI5
SAT and SAFE Announcement No. 40 of 2013The Chinese payerRecord filing with tax authorities before service payments above USD 50,00017SAFE17

SAFE also said in 2013 that service transactions of USD 50,000 or less can be handled by financial institutions without document verification.17 The SAFE page is a 2013 interview, so ask your client whether newer rules apply to its payment.

What does each option charge for a payment from China?

Each option charges differently for a payment from China: your bank charges what its policy publishes for a SWIFT wire, Payoneer charges 1% to 4% on conversion, and Wise does not publish a CNY Swift fee or an INR conversion percentage.1343739

OptionBest forEstimated cost on USD 5,000What drives the costSource
SkydoUSD invoices paid by bank transfer0.68%USD 29 fixed fee plus GST20Skydo2021
RazorpayRegistered businesses1.00 to 1.18%1% fee plus GST26Razorpay26
Karbon BusinessExporters incorporated in India1.00 to 1.18%1% fee plus GST29Karbon29
PayoneerClients paying local CNY or USD details1.00 to 4.00%Conversion fee to INR34Payoneer34
SWIFT wireLarge one-off paymentsNot estimatedYour bank's published charges and buying rate, plus any intermediary bank deductions1Your bank
WiseClients paying CNY by SwiftNot estimatedSwift receiving fee and an unpublished INR conversion fee3739Wise37

The CNY widget below covers only providers with CNY pricing in this site's data.

Which option is cheapest for a client in China at three invoice sizes?

The cheapest option for a client in China at three invoice sizes depends on which providers publish CNY pricing, and Payoneer is the only one of the three named here with a published CNY route in this site's cost model.3334 The table below works out rupees received at today's rate in CNY.

PlatformBest forINR on CNY 13,000INR on CNY 33,000INR on CNY 67,000Cost on CNY 33,000
PayoneerMost INRLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹1,76,284 to ₹1,81,793₹4,47,491 to ₹4,61,475₹9,08,542 to ₹9,36,9341.00 to 4.00%

Ranked by INR received on CNY 33,000. 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, Payoneer's conversion fee of 1% to 4% means a CNY invoice loses between 1% and 4% before any receiving fee, depending on region and volume.34 If you invoice in USD instead, compare the USD routes in the platform table.

What documents and GST apply to payments from a client in China?

Payments from a client in China need a FIRA for each receipt, an EDF with your bank and an LUT if you are GST registered; the client may also ask for contract and invoice copies for its own filing.11117

DocumentBest forWhat it doesSource
Contract and invoicePayments above USD 50,000Supports the client's tax record filing in China17SAFE17
FIRA or e-FIRCEvery receiptProves the payment reached you; Payoneer and Wise each issue one3236Provider pages
e-BRCExporters with an IECSelf-certified on DGFT from the bank's inward remittance message1213DGFT12
EDFEvery service exporterDeclares the export to the AD bank from 1 October 20261RBI1
LUTGST-registered exportersInvoice without IGST, in FORM GST RFD-1111GST portal11

Exports of services are zero-rated under section 16 of the IGST Act, and under rule 96A IGST with interest falls due if payment is late beyond one year or the FEMA period, whichever is later.910 The India-China DTAA taxes fees for technical services at up to 10% in the source country.16 See receive money from China to India for the full corridor view.

What changes in 2026 for Indian exporters paid from China?

Indian exporters paid from China work under new RBI export rules from 1 October 2026, a nine-month realisation period and a new Income-tax Act from 1 April 2026.1214

  • 2026 Regulations: The FEMA (Export and Import of Goods and Services) Regulations, 2026 replaced the 2015 Regulations on 1 October 2026.1
  • EDF for services: Every service exporter files an EDF, and RBI Circular No. 20 supersedes the SOFTEX circulars from 1 October 2026.14
  • Realisation period: The period went to 15 months in November 2025 and is now nine months from the invoice date.23
  • Provider status: Wise became an authorised PA-CB on 12 March 2026, and Payoneer received in-principle authorisation on 22 January 2026.631
  • Income tax: Foreign tax credit for tax year 2026-27 is claimed in Form 44.15

Read the EDF guide for service exporters before your first invoice to China under the new rules.

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: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB, amended up to 22 September 2026, regulations 3, 4, 5, 13 and 19
  2. [2]RBI: Notification FEMA 23(R)/(1)/2026-RB dated 22 September 2026, amending regulation 5 (realisation period)
  3. [3]RBI: Notification FEMA 23(R)/(7)/2025-RB dated 13 November 2025 (15-month realisation period, later reversed)
  4. [4]RBI: A.P. (DIR Series) Circular No. 20 dated 16 January 2026 (supersedes the SOFTEX circulars from 1 October 2026)
  5. [5]RBI: Master Direction on Regulation of Payment Aggregator dated 15 September 2025, paragraph 11(d) (₹25 lakh per transaction) and 11(h) (documents to the AD bank)
  6. [6]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 (payment aggregators and cross-border in-bound money transfer operators), list dated 16 October 2026 (checked 2026-10-28) and list dated 30 October 2026 (checked 2026-10-31)
  7. [7]RBI: Status of applications received under the Payment and Settlement Systems Act, 2007, as on 16 October 2026, Tables D and E (checked 2026-10-28)
  8. [8]CBIC: IGST Act, 2017, section 2(6) (export of services)
  9. [9]CBIC: IGST Act, 2017, section 16 (zero-rated supply)
  10. [10]CBIC: CGST Rules, 2017, rule 96A (export under bond or Letter of Undertaking), clause (1)(b) as substituted by Notification No. 12/2024-Central Tax, 10 July 2024
  11. [11]GST portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)
  12. [12]DGFT: eBRC system, self-certification of eBRC from bank inward remittance messages (IRMs), Trade Notice 33/2023-24 dated 10 November 2023
  13. [13]DGFT: FAQs (Self-Generation of eBRC), Version 1.0, March 2024
  14. [14]PIB: Income-tax Act, 2025 in force from 1 April 2026 (tax year replaces previous year and assessment year)
  15. [15]Income Tax Department: Income-tax Rules, 2026 (notified 20 March 2026), rule 76 and Form 44
  16. [16]Income Tax Department: India-China DTAA text
  17. [17]SAFE (State Administration of Foreign Exchange, China): Interview with an official on the reform of foreign exchange administration for trade in services, 24 July 2013 (refers to SAT and SAFE Announcement No. 40 of 2013) (checked 2026-10-31)
  18. [18]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  19. [19]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  20. [20]Skydo FAQs, How much does Skydo charge? (checked 2026-10-28)
  21. [21]Skydo, home page fee table (checked 2026-10-28)
  22. [22]Skydo, Receive international payments as a freelancer in India (product page) (checked 2026-10-28)
  23. [23]Skydo, Terms of Use, last updated 9 April 2026 (checked 2026-10-28)
  24. [24]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  25. [25]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  26. [26]Razorpay, Multi-Currency Account for International Bank Transfers (MoneySaver Export Account pricing) (checked 2026-10-28)
  27. [27]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  28. [28]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  29. [29]Karbon Business, PayPal Alternative comparison page (checked 2026-10-28)
  30. [30]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  31. [31]Payoneer press release, Payoneer receives in-principle authorization as Cross-Border Payment Aggregator in India, 22 January 2026
  32. [32]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  33. [33]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  34. [34]Payoneer India, Payoneer Fees (checked 2026-10-28)
  35. [35]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  36. [36]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-31)
  37. [37]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  38. [38]Wise India, Receive international payments (checked 2026-10-28)
  39. [39]Wise India site, Wise Business pricing, fees at a glance (checked 2026-10-28)

Frequently asked questions

How can I receive payments from my Chinese client in India?+

You can receive payments from a Chinese client in India by SWIFT wire to your own bank, through local CNY receiving details from Payoneer, or through international CNY details from Wise. Whichever route you use, the payment ends with an Indian AD bank, and you file an EDF and keep a FIRA for each receipt.13336

Should I invoice my Chinese client in USD or CNY?+

You can invoice a Chinese client in USD or CNY, since Indian export rules allow any convertible foreign currency and set a nine-month realisation period either way. Choose the currency your receiving route accepts: Payoneer lists both USD and CNY receiving details, and Skydo, Razorpay and Karbon publish USD routes.2818252833

Why is my Chinese client asking for a tax record filing?+

A Chinese client may ask for contract and invoice details because SAFE says payers must register payments with the tax authorities before paying more than USD 50,000 for trade in services. SAFE described this record filing in 2013 when it replaced tax certificates, under SAT and SAFE Announcement No. 40.17

Does the India-China tax treaty mean my client deducts tax?+

The India-China DTAA allows the source country to tax fees for technical services at up to 10% of the gross amount, and defines those fees as payments for managerial, technical or consultancy services without make-available wording. Ask your client before invoicing whether it will deduct tax, and keep the certificate if it does.16

Can I claim credit in India for tax deducted in China?+

You may be able to claim credit in India for tax a Chinese client deducted on the same income, under the India-China DTAA. From tax year 2026-27, the foreign tax credit claim is made in Form 44 under rule 76 of the Income-tax Rules, 2026, replacing Form 67 for later years.1516

Is there a maximum amount for one payment from China through Wise?+

Wise's help article for Indian businesses says each payment must be at most 2.5 million INR and at least the equivalent of 5 USD, and a payment outside these limits is returned to the sender. RBI separately caps each PA-CB transaction at ₹25 lakh for inward and outward payments.536

Is work for a Chinese company zero-rated under GST?+

Work for a Chinese company is zero-rated under GST when it meets all five conditions of section 2(6) of the IGST Act, including payment in convertible foreign exchange and a place of supply outside India. A registered supplier with an LUT then invoices without IGST under section 16.8911

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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