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

Author:
Editorial team, serviceexportguide.com
Verified by:
Editorial team
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Fees checked on
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13 min read

Short answer

On published fees for a USD 5,000 bank transfer, Skydo leaves more rupees: about 0.68% in costs against 1.24%.78910123456 The better choice depends on how your client pays: Winvesta is best for local transfers with a published per-payment fee, and Skydo is best for local bank transfers from major markets.71213

Use caseBetter optionWhy
Bank transfer of USD 5,000SkydoEstimated cost 0.68% against 1.24%.12345678910
Bank transfer of USD 2,000SkydoEstimated cost 1.12% against 1.35%.12345678910
Client paying USD 2,000 by card or linkCannot compareSkydo costs about 2.00 to 2.36%; Winvesta does not publish full pricing.21156
Winvesta is best forWinvestaLocal transfers with a published per-payment fee.712
Skydo is best forSkydoLocal bank transfers from major markets.13

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%
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 Winvesta and Skydo compare at a glance?

Winvesta 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.712

WinvestaSkydo
Best forLocal transfers with a published per-payment fee712Local bank transfers from major markets13
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.7Skydo 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 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.814Skydo'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
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.151617Skydo'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.5618
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.98Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.519
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).12207Local accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1321
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.2223Skydo'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 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.242526Skydo 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.276
SupportEmail support@winvesta.in; phone +91-(0)20-7117 8885, Monday to Friday, 10:00 am to 6:00 pm IST.8Skydo publishes support@skydo.com and phone 7026000500.4
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).282029Skydo 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.430
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.12312017Bank 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.1332116
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.1733Not 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 Winvesta vs Skydo?

The INR you receive with Winvesta 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%
WinvestaGlobal 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.8209

  • 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.242526
  • 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.2223
  • Best for: Local transfers with a published per-payment fee.712

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.27613

  • 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.276
  • 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.13

How do Winvesta and Skydo fees and FX markup compare?

Winvesta and Skydo 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 currency789100%18%Clients paying by local bank transfer
Card payment through Winvesta payment linksNot published170%Not statedClients paying by card

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 9211560%Not statedClients paying through a payment link

How do Winvesta and Skydo compare on settlement speed?

Winvesta and Skydo 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.151617The 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.204810Local transfers with a published per-payment fee712
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.5618Converted 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 markets13

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

Winvesta 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.49

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.98Winvesta 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.242526Local transfers with a published per-payment fee712
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.519Skydo 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.276Local bank transfers from major markets13

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

Winvesta and Skydo 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).12207Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.12312017Yes, 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.1733Local transfers with a published per-payment fee712
SkydoLocal accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1321Bank 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.1332116Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.Local bank transfers from major markets13

What are the strengths and limitations of Winvesta and Skydo?

Winvesta 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 Winvesta?

Strengths:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.127
  • You are a freelancer without a registered business who has a PAN and Aadhaar.22
  • You want an e-FIRA showing the purpose code for each receipt at no charge.9

Limitations:

  • Winvesta is not on the RBI's list of authorised payment aggregators and does not name its banking partner on its pages.2524
  • Each withdrawal needs an invoice with the purpose code and other mandatory fields.48
  • The fixed fee per transaction ($3 on USD) weighs more on small receipts.7
  • Card collection fees are not published.3317
  • Winvesta's own pages disagree on the number of currencies, the maximum holding period and card settlement time.207291617

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.13
  • 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.527

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.50
  • No card payment option or card fee is published.11
  • 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 Winvesta or Skydo?

Choose between Winvesta and Skydo 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.127
  • You are a freelancer without a registered business who has a PAN and Aadhaar.22
  • You want an e-FIRA showing the purpose code for each receipt at no charge.9

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.13
  • 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.527

For example, say a designer invoices a US client USD 2,000 by bank transfer. On published fees, Skydo costs about 1.12% and Winvesta about 1.35%, a difference of about USD 4 on that invoice.12345678910

Which other platforms should you consider besides Winvesta and Skydo?

Other platforms to consider besides Winvesta and Skydo are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.343537384142434647

PlatformBest forEstimated cost on USD 5,000FIRAReview
Karbon BusinessUS bank transfers and marketplace payouts341.00 to 1.18%3435Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.34Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone361.00 to 1.18%3738Razorpay 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.363938Razorpay review
PayoneerMarketplace payouts such as Amazon or Upwork401.00 to 4.00%414243Free 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.4344Payoneer review
PayPalClients paying by card or PayPal balance457.27 to 8.23%4647Free weekly digital FIRA (Foreign Inward Remittance Advise) from February 2026, downloadable under Reports, then Tax, in a business account for the last 12 months; earlier transactions are covered by monthly FIRAs. Custom FIRA: 100 INR plus 18% GST per transaction for up to 20 transactions, or 2,000 INR plus 18% GST for a bulk request above 20 transactions; PayPal says custom FIRAs are issued by Citibank.47PayPal 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]Winvesta FAQ, What are the charges for the Global Collections Account? (checked 2026-10-28)
  8. [8]Winvesta, Multi-currency account (checked 2026-10-28)
  9. [9]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  10. [10]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  11. [11]Skydo FAQ, What are the fees for using Payment Links? (checked 2026-10-28)
  12. [12]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  13. [13]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  14. [14]Winvesta FAQs, How can I view the FX rate for the conversion of my funds? (checked 2026-10-28)
  15. [15]Winvesta FAQs, How long does it take for funds to reach my Indian bank account? (checked 2026-10-28)
  16. [16]Winvesta FAQs, How does settlement work? Do I need to submit an invoice to withdraw funds? (checked 2026-10-28)
  17. [17]Winvesta, Card Collections via Payment Links (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]Winvesta FAQs, What is a global collections account and how does it work? (checked 2026-10-28)
  21. [21]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  22. [22]Winvesta FAQs, What documents do I need to open a global collection account as a freelancer? (checked 2026-10-28)
  23. [23]Winvesta FAQs, What documents do I need to open a global collections account as a business owner? (checked 2026-10-28)
  24. [24]Winvesta FAQs, How is Winvesta regulated? (checked 2026-10-28)
  25. [25]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)
  26. [26]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  27. [27]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  28. [28]Winvesta FAQs, What are the transaction limits on my account? (checked 2026-10-28)
  29. [29]Winvesta FAQs, What is the maximum time I can keep funds in my GCA? (checked 2026-10-28)
  30. [30]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraph 11 (checked 2026-10-28)
  31. [31]Winvesta FAQs, How do I receive USD? (checked 2026-10-28)
  32. [32]Skydo FAQs, When should I use the International SWIFT account and when should I use the Local Account? (checked 2026-10-28)
  33. [33]Winvesta FAQs, My client paid ₹1,000, and their bank charged them a 2% fee. How does that affect me? (checked 2026-10-28)
  34. [34]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  35. [35]Karbon, PayPal alternative (checked 2026-10-28)
  36. [36]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  37. [37]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  38. [38]Razorpay, Pricing (checked 2026-10-28)
  39. [39]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  40. [40]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  41. [41]Payoneer India, Payoneer Fees (checked 2026-10-28)
  42. [42]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  43. [43]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  44. [44]Payoneer India, Digital FIRC page (checked 2026-10-28)
  45. [45]PayPal India, User Agreement for PayPal Services (last updated 13 January 2025) (checked 2026-10-28)
  46. [46]PayPal India, PayPal Merchant Fees (page last updated 28 March 2024) (checked 2026-10-28)
  47. [47]PayPal India, Foreign Inward Remittance Advise (FIRA) (checked 2026-10-28)
  48. [48]Winvesta FAQs, What GST invoice do I need to withdraw funds? (checked 2026-10-28)
  49. [49]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  50. [50]Skydo FAQs, From which countries I can not receive payments using Skydo? (checked 2026-10-28)
  51. [51]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

Skydo is cheaper on published fees for a USD 5,000 bank transfer: estimated cost 0.68% against 1.24%.12345678910 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 Skydo 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.98 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.519

Can individual freelancers use Winvesta and Skydo?+

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.2223 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 Winvesta and Skydo 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.242526 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.276

How fast do Winvesta and Skydo 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.151617 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.5618

Do I still need an LUT if I am paid through Winvesta 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 Winvesta, Skydo or a bank wire.51

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

How Skydo works for Indian freelancers and companies: RBI PA-CB status, local accounts, flat fees, FX, FIRA, purpose codes, limits and the 2026 EDF rules.

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