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

Author:
Editorial team, serviceexportguide.com
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11 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: Winvesta is best for local transfers with a published per-payment fee, and Revolut is best for personal spending, not export receipts.1567

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareWinvesta costs about 1.24%; Revolut does not publish full pricing.1234
Bank transfer of USD 2,000Cannot compareWinvesta costs about 1.35%; Revolut does not publish full pricing.1234
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
Winvesta is best forWinvestaLocal transfers with a published per-payment fee.15
Revolut is best forRevolutPersonal spending, not export receipts.67

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%
3WinvestaThis pageGlobal 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%
4SkydoPayment 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 Winvesta and Revolut compare at a glance?

Winvesta and Revolut 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.18

WinvestaRevolut
Best forLocal transfers with a published per-payment fee15Personal spending, not export receipts67
FeesUp to 2,000 a month per currency: 0.99% plus a fixed fee per transaction ($3 for USD, EUR 5, GBP 5, AUD 10, SGD 10, other currencies the equivalent of $5). 2,000 to 100,000 a month: custom pricing. Above 100,000 a month: 0.2% per transaction with no fixed fee. Winvesta says 18% GST is levied on its fees for every non-JPMC account.1Revolut says it does not charge fees for receiving a bank transfer into the INR account by UPI.8
FX markupWinvesta advertises 0% forex markup and zero FX on USD, and shows the exact FX rate applied and its booking time after each withdrawal. The reference rate is not published.29Not applicable to receiving: the India wallet holds INR only. No inward conversion rate is published.6
SettlementUSD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.101112Revolut says UPI transfers to the INR account are usually instant.8
FIRAFree 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.32Not published. Revolut's India pages do not mention a FIRA or FIRC.
CurrenciesLocal account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).5131INR only for the India wallet. Revolut's India terms say PPIs can only be used for payments in Indian rupees.68
KYC: who can sign upFreelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1415Individuals, 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.616
RBI PA-CB statusWinvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.171819Revolut 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 2026.206
SupportEmail support@winvesta.in; phone +91-(0)20-7117 8885, Monday to Friday, 10:00 am to 6:00 pm IST.2Revolut India publishes 24/7 in-app chat, support-india@revolut.com and a phone number.6
LimitsWinvesta says there are no limits on incoming transactions in USD and 30 other currencies. Its FAQs give different maximum holding periods (30 days in one answer, 9 months in another).211322Up 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.8
How clients payLocal bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.5231312Revolut 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.86
Card paymentsYes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1224Not available for receiving. Revolut India does not publish a way to accept card payments from clients.68

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

The INR you receive with Winvesta and Revolut 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
WinvestaMost INRGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,85,951₹4,65,377₹9,31,0881.24%

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 Winvesta and who is it for?

Winvesta is a Mumbai-based company whose Global Collections Account gives Indian businesses and freelancers local USD, EUR, GBP and CAD account details, with withdrawal to INR and a free e-FIRA.2133

  • Regulated by: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.171819
  • Used by: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1415
  • Best for: Local transfers with a published per-payment fee.15

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.620

  • 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 2026.206
  • 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.616
  • Best for: Personal spending, not export receipts.67

How do Winvesta and Revolut fees and FX markup compare?

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

What does Winvesta charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections Account, standard plan (up to 2,000 a month per currency)0.99% + plus a fixed fee by currency12340%18%Clients paying by local bank transfer
Card payment through Winvesta payment linksNot published120%Not statedClients paying by card

What does Revolut charge?

  • Fees: Revolut says it does not charge fees for receiving a bank transfer into the INR account by UPI.8

How do Winvesta and Revolut compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
WinvestaUSD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.101112The user withdraws to an Indian bank account in INR after providing an invoice for the receipt. Priority withdrawal is available on request, typically for a $15 to $25 additional fee on USD.13444Local transfers with a published per-payment fee15
RevolutRevolut says UPI transfers to the INR account are usually instant.8Revolut says unloading the INR wallet is free on the Standard plan.7Personal spending, not export receipts67

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

Winvesta and Revolut 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.45

PlatformFIRARBI PA-CB statusBest for
WinvestaFree 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.32Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.171819Local transfers with a published per-payment fee15
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 2026.206Personal spending, not export receipts67

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

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

PlatformCurrenciesHow clients payCard paymentsBest for
WinvestaLocal account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).5131Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.5231312Yes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1224Local transfers with a published per-payment fee15
RevolutINR only for the India wallet. Revolut's India terms say PPIs can only be used for payments in Indian rupees.68Revolut 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.86Not available for receiving. Revolut India does not publish a way to accept card payments from clients.68Personal spending, not export receipts67

What are the strengths and limitations of Winvesta and Revolut?

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

What are the strengths and limitations of Winvesta?

Strengths:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.51
  • You are a freelancer without a registered business who has a PAN and Aadhaar.14
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

Limitations:

  • Winvesta is not on the RBI's list of authorised payment aggregators and does not name its banking partner on its pages.1817
  • Each withdrawal needs an invoice with the purpose code and other mandatory fields.44
  • The fixed fee per transaction ($3 on USD) weighs more on small receipts.1
  • Card collection fees are not published.2412
  • Winvesta's own pages disagree on the number of currencies, the maximum holding period and card settlement time.131221112

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.67

Limitations:

  • Revolut's India terms prohibit using a Revolut Account for business purposes.6
  • 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.68
  • Revolut Business is not available to companies registered in India.16
  • Revolut India is not an RBI-authorised PA-CB and its pages do not mention a FIRA, FIRC or purpose code.206

Should you choose Winvesta or Revolut?

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

Choose Winvesta if:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.51
  • You are a freelancer without a registered business who has a PAN and Aadhaar.14
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

Choose Revolut if:

  • You want a personal INR wallet and card for your own spending, separate from how you get paid for exports.67

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.296

Which other platforms should you consider besides Winvesta and Revolut?

Other platforms to consider besides Winvesta and Revolut are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.26272829303133343637404142

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets250.68%262728293031Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.3032Skydo review
Karbon BusinessUS bank transfers and marketplace payouts331.00 to 1.18%3334Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.33Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone351.00 to 1.18%3637Razorpay 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.353837Razorpay review
PayoneerMarketplace payouts such as Amazon or Upwork391.00 to 4.00%404142Free 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.4243Payoneer 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]Winvesta FAQ, What are the charges for the Global Collections Account? (checked 2026-10-28)
  2. [2]Winvesta, Multi-currency account (checked 2026-10-28)
  3. [3]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  4. [4]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  5. [5]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  6. [6]Revolut India, Personal terms, effective 19 November 2025, sections 1, 2, 4 and 20 (checked 2026-10-28)
  7. [7]Revolut India, Personal fees (Standard), from the week of 24 November 2025 (checked 2026-10-28)
  8. [8]Revolut India Help, How to transfer funds to Revolut (checked 2026-10-28)
  9. [9]Winvesta FAQs, How can I view the FX rate for the conversion of my funds? (checked 2026-10-28)
  10. [10]Winvesta FAQs, How long does it take for funds to reach my Indian bank account? (checked 2026-10-28)
  11. [11]Winvesta FAQs, How does settlement work? Do I need to submit an invoice to withdraw funds? (checked 2026-10-28)
  12. [12]Winvesta, Card Collections via Payment Links (checked 2026-10-28)
  13. [13]Winvesta FAQs, What is a global collections account and how does it work? (checked 2026-10-28)
  14. [14]Winvesta FAQs, What documents do I need to open a global collection account as a freelancer? (checked 2026-10-28)
  15. [15]Winvesta FAQs, What documents do I need to open a global collections account as a business owner? (checked 2026-10-28)
  16. [16]Revolut Business Help, Eligible countries and territories for Revolut Business (checked 2026-10-28)
  17. [17]Winvesta FAQs, How is Winvesta regulated? (checked 2026-10-28)
  18. [18]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), list dated 16 October 2026 (checked 2026-10-28)
  19. [19]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  20. [20]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  21. [21]Winvesta FAQs, What are the transaction limits on my account? (checked 2026-10-28)
  22. [22]Winvesta FAQs, What is the maximum time I can keep funds in my GCA? (checked 2026-10-28)
  23. [23]Winvesta FAQs, How do I receive USD? (checked 2026-10-28)
  24. [24]Winvesta FAQs, My client paid ₹1,000, and their bank charged them a 2% fee. How does that affect me? (checked 2026-10-28)
  25. [25]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  26. [26]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  27. [27]Skydo, Home page (checked 2026-10-28)
  28. [28]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  29. [29]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  30. [30]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  31. [31]Skydo, Terms of use (checked 2026-10-28)
  32. [32]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  33. [33]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  34. [34]Karbon, PayPal alternative (checked 2026-10-28)
  35. [35]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  36. [36]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  37. [37]Razorpay, Pricing (checked 2026-10-28)
  38. [38]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  39. [39]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  40. [40]Payoneer India, Payoneer Fees (checked 2026-10-28)
  41. [41]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  42. [42]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  43. [43]Payoneer India, Digital FIRC page (checked 2026-10-28)
  44. [44]Winvesta FAQs, What GST invoice do I need to withdraw funds? (checked 2026-10-28)
  45. [45]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  46. [46]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: winvesta costs about 1.24%; Revolut does not publish full pricing.1234 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

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

Winvesta: Free 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.32 Revolut: Not published. Revolut's India pages do not mention a FIRA or FIRC.

Can individual freelancers use Winvesta and Revolut?+

Winvesta: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1415 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.616

Are Winvesta and Revolut authorised by the RBI?+

Winvesta: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.171819 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 2026.206

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

Winvesta: USD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.101112 Revolut: Revolut says UPI transfers to the INR account are usually instant.8

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

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 Winvesta, Revolut or a bank wire.46

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.

Keep reading

Platforms

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

How Winvesta's Global Collections Account works for Indian freelancers and businesses: local USD, EUR, GBP, CAD details, fees, free e-FIRA, purpose codes, EDF and limits.

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

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