Compare

Wise vs Remitly (2026): Which Is Better for Receiving International Payments in India?

Author:: Editorial team, serviceexportguide.com
Verified by:: Editorial team
Published: 28 October 2026
Last modified: 28 October 2026
Fees checked on: 28 October 2026
Reading time: 13 min read

Short answer

Neither Wise nor Remitly 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: Wise is best for bank transfers to local account details, and Remitly is best for uS or Canadian business clients already using Remitly.¹²³⁴

Use case	Better option	Why
Bank transfer of USD 5,000	Cannot compare	Neither publishes full pricing for this case.
Bank transfer of USD 2,000	Cannot compare	Neither publishes full pricing for this case.
Client paying USD 2,000 by card or link	Cannot compare	Neither publishes full pricing for this case.
Wise is best for	Wise	Bank transfers to local account details.¹
Remitly is best for	Remitly	US or Canadian business clients already using Remitly.²³⁴

Invoice amountCurrencyHow the client pays

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 route	Best for	Fee (+GST)	Markup	You receive	Cost
1	Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD account	US bank transfers and marketplace payouts	₹942plus GST, rate not stated	0%	₹93,131 to ₹93,301	1.00 to 1.18%
2	RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)	Local transfers from the US, UK and eurozone	₹1,000plus GST, rate not stated	0%	₹93,063 to ₹93,243	1.06 to 1.25%
3	WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)	Local transfers with a published per-payment fee	₹1,435	0%	₹92,809	1.52%
4	SkydoPayment link (InstaLinks) paid by ACH debit	Local bank transfers from major markets	₹1,885plus GST, rate not stated	0%	₹92,019 to ₹92,358	2.00 to 2.36%
5	PayoneerLocal bank transfer to Payoneer receiving account details	Marketplace payouts such as Amazon or Upwork	₹0no GST stated	1 to 4%	₹90,473 to ₹93,301	1.00 to 4.00%
6	PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹4,175no GST stated	3 to 4%	₹86,465 to ₹87,366	7.30 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 Wise and Remitly compare at a glance?

Wise and Remitly 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.¹⁵⁶⁷⁸

	Wise	Remitly
Best for	Bank transfers to local account details¹	US or Canadian business clients already using Remitly²³⁴
Fees	Wise's India help article says it charges an equivalent of 2 USD in the received currency for the transfer to the INR bank account that issues the e-FIRC. Wise's India receive pricing page describes a free eFIRC for every transfer. The general Wise Business fee table on Wise's India site lists 6.11 USD per USD wire or Swift payment, 2.16 GBP per GBP Swift payment and 2.39 EUR per EUR Swift payment, with domestic (non-Swift, non-wire) payments free; Wise's India-specific receive pages do not repeat these Swift fees. 18% GST applies to Wise fees.¹⁵⁶	Remitly says there are no fees for the receiver in India. The sender pays the transfer fee: on its USD to INR page, $3.99 below $1,000 and $0 at $1,000 or more for personal transfers, with no fee on a new customer's first transfer.⁷⁸
FX markup	Mid-market exchange rate plus a conversion fee that Wise says depends on the currency. No percentage is published for conversion to INR; the amount is shown in Wise's calculator.⁵⁹	Remitly says it may earn from the difference between the rate at which it buys currency and the rate given to the sender. The rate is shown before the sender confirms; no markup percentage is published.¹⁰⁸
Settlement	Wise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.¹	Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.³
FIRA	An e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.¹⁵	Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.
Currencies	24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.¹	Senders pay in the currency of the send country; Remitly Business sends from the US. Recipients in India receive INR.²³⁸
KYC: who can sign up	Wise Business only: sole traders or freelancers (personal PAN and an INR bank account in their own name), sole proprietorships, private limited companies, LLPs and general partnerships. Other business types are not currently onboarded. Wise personal accounts in India cannot receive money.¹¹¹²	Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.¹⁰²³⁷⁴
RBI PA-CB status	RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.¹³¹	Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.¹³¹⁰
Support	Not published on the India receiving pages checked.	Remitly says business customers get 24/7 support by phone or help centre.³
Limits	Minimum 5 USD or equivalent and maximum 2.5 million INR (₹25 lakh) or equivalent per transaction; payments outside these limits are returned to the sender. RBI caps each PA-CB inward or outward transaction at ₹25 lakh.¹¹⁴	Not published as amounts. Remitly says limits vary by country, delivery method and verification, and are shown when the sender starts a transfer.
How clients pay	The client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.¹⁹	The client sends from a Remitly account: a US or Canadian business through Remitly Business, or an individual through the personal service for personal purposes only. Money arrives in India by bank deposit, UPI, cash pickup or wallet.¹⁰³¹⁵⁴
Card payments	Not available for India-based businesses: Wise lists card acceptance only for Wise Business accounts in the EEA, UK, Australia, Hong Kong, New Zealand, Singapore, Canada and the US.¹⁶	The sender can fund a transfer with a debit or credit card; the Indian recipient cannot accept card payments through Remitly.³¹⁰

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

The INR you receive with Wise and Remitly 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.

None of these providers publishes both a fee and a conversion markup for USD.

Not estimated because pricing for USD is not fully published: Wise.

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 Wise and who is it for?

Wise is a money transfer company whose Wise Business account gives Indian businesses and freelancers account details in other currencies, converts what they receive to INR and sends it to their Indian bank account.¹⁹

Regulated by: RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.¹³¹
Used by: Wise Business only: sole traders or freelancers (personal PAN and an INR bank account in their own name), sole proprietorships, private limited companies, LLPs and general partnerships. Other business types are not currently onboarded. Wise personal accounts in India cannot receive money.¹¹¹²
Best for: Bank transfers to local account details.¹

What is Remitly and who is it for?

Remitly is a money transfer service whose personal service is limited to individuals sending for personal, family or household purposes; its Remitly Business product lets US businesses pay contractors, freelancers and suppliers in India.¹⁰³

Regulated by: Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.¹³¹⁰
Used by: Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.¹⁰²³⁷⁴
Best for: US or Canadian business clients already using Remitly.²³⁴

How do Wise and Remitly fees and FX markup compare?

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

What does Wise charge?

Transaction type	Fee	FX markup	GST on fees	Best for
Local (domestic, non-Swift, non-wire) transfer to Wise local account details	USD 2⁵¹⁶	Not published	18%	Clients paying by local bank transfer
Wire or Swift payment to Wise account details	USD 2 + plus a fixed fee by currency⁵¹⁶	Not published	18%	Clients paying by international wire

What does Remitly charge?

Fees: Remitly says there are no fees for the receiver in India. The sender pays the transfer fee: on its USD to INR page, $3.99 below $1,000 and $0 at $1,000 or more for personal transfers, with no fee on a new customer's first transfer.⁷⁸

How do Wise and Remitly compare on settlement speed?

Wise and Remitly publish these settlement times for money reaching an Indian bank account.

Platform	Settlement time	Payout to India	Best for
Wise	Wise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.¹	Automatic: Wise converts each payment to INR and sends it to the verified Indian bank account given during verification. Indian users cannot hold the foreign currency, and the account details cannot be used to send money. No separate withdrawal fee is published beyond the e-FIRC transfer fee.¹	Bank transfers to local account details¹
Remitly	Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.³	Bank deposit, UPI, cash pickup or wallet in INR; the recipient does not need to withdraw anything.¹⁵³⁷	US or Canadian business clients already using Remitly²³⁴

Do Wise and Remitly provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Wise and Remitly 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.³⁶

Platform	FIRA	RBI PA-CB status	Best for
Wise	An e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.¹⁵	RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.¹³¹	Bank transfers to local account details¹
Remitly	Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.	Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.¹³¹⁰	US or Canadian business clients already using Remitly²³⁴

Which currencies, countries and payment methods do Wise and Remitly support?

Wise and Remitly accept the currencies and payment methods below, as each publishes them.

Platform	Currencies	How clients pay	Card payments	Best for
Wise	24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.¹	The client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.¹⁹	Not available for India-based businesses: Wise lists card acceptance only for Wise Business accounts in the EEA, UK, Australia, Hong Kong, New Zealand, Singapore, Canada and the US.¹⁶	Bank transfers to local account details¹
Remitly	Senders pay in the currency of the send country; Remitly Business sends from the US. Recipients in India receive INR.²³⁸	The client sends from a Remitly account: a US or Canadian business through Remitly Business, or an individual through the personal service for personal purposes only. Money arrives in India by bank deposit, UPI, cash pickup or wallet.¹⁰³¹⁵⁴	The sender can fund a transfer with a debit or credit card; the Indian recipient cannot accept card payments through Remitly.³¹⁰	US or Canadian business clients already using Remitly²³⁴

What are the strengths and limitations of Wise and Remitly?

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

What are the strengths and limitations of Wise?

Strengths:

Your clients are willing to pay by bank transfer to local account details in USD, GBP, EUR or another supported currency.¹
You want an e-FIRC issued for each payment received.¹
You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.¹¹
Individual payments are between 5 USD and ₹25 lakh equivalent.¹

Limitations:

Indian businesses cannot accept card payments through Wise.¹⁶
Money cannot be held in foreign currency; every receipt is converted to INR.¹
No conversion fee percentage is published for INR, so the cost of a receipt can only be seen in Wise's calculator.⁵
Single payments above ₹25 lakh equivalent are returned to the sender.¹
Wise's own pages differ on whether the e-FIRC is free or covered by a 2 USD equivalent fee.¹⁵
Business types other than sole traders, sole proprietorships, private limited companies, LLPs and general partnerships are not currently onboarded.¹¹

What are the strengths and limitations of Remitly?

Strengths:

Your client is a US or Canadian business that already uses, or is willing to open, a Remitly Business account to pay contractors in India.²³⁴
Your client is an individual paying for a personal need, such as private tutoring, which Remitly's personal terms permit.¹⁰

Limitations:

An Indian freelancer or company cannot open an account to receive or invoice through Remitly; the client must be the Remitly customer.¹⁰²³
Remitly Business is offered to businesses in the US and Canada only, and Remitly's personal terms prohibit sending for business purposes.²¹⁰⁴
Remitly is not on the RBI list of authorised PA-CB entities, and its pages do not mention a FIRA, FIRC or purpose code for the Indian recipient.¹³³⁷

Should you choose Wise or Remitly?

Choose between Wise and Remitly by how your clients pay and your usual invoice size.

Choose Wise if:

Your clients are willing to pay by bank transfer to local account details in USD, GBP, EUR or another supported currency.¹
You want an e-FIRC issued for each payment received.¹
You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.¹¹
Individual payments are between 5 USD and ₹25 lakh equivalent.¹

Choose Remitly if:

Your client is a US or Canadian business that already uses, or is willing to open, a Remitly Business account to pay contractors in India.²³⁴
Your client is an individual paying for a personal need, such as private tutoring, which Remitly's personal terms permit.¹⁰

For example, say a designer invoices a US client USD 2,000. Because neither provider 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.⁵⁹¹⁰⁸

Which other platforms should you consider besides Wise and Remitly?

Other platforms to consider besides Wise and Remitly are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.¹⁸¹⁹²⁰²¹²²²³²⁵²⁶²⁸²⁹³¹³³³⁴³⁵

Platform	Best for	Estimated cost on USD 5,000	FIRA	Review
Skydo	Local bank transfers from major markets¹⁷	0.68%¹⁸¹⁹²⁰²¹²²²³	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.²²²⁴	Skydo review
Karbon Business	US bank transfers and marketplace payouts²⁵	1.00 to 1.18%²⁵²⁶	Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.²⁵	Karbon Business review
Razorpay	Local transfers from the US, UK and eurozone²⁷	1.00 to 1.18%²⁸²⁹	Razorpay 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.²⁷³⁰²⁹	Razorpay review
Winvesta	Local transfers with a published per-payment fee³¹³²	1.24%³¹³³³⁴³⁵	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.³⁴³³	Winvesta 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.

Frequently asked questions

Which is cheaper for Indian exporters, Wise or Remitly?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.⁵⁹¹⁰⁸ The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Wise and Remitly give a FIRA to Indian exporters?+

Wise: An e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.¹⁵ Remitly: Not published. Remitly's pages do not mention a FIRA or FIRC for the Indian recipient.

Can individual freelancers use Wise and Remitly?+

Wise: Wise Business only: sole traders or freelancers (personal PAN and an INR bank account in their own name), sole proprietorships, private limited companies, LLPs and general partnerships. Other business types are not currently onboarded. Wise personal accounts in India cannot receive money.¹¹¹² Remitly: Senders only. The personal service is for individuals sending for personal, family or household purposes, and business use is a breach. Remitly Business is for US-registered businesses with a US-resident account holder, and Remitly's Canada site says Remitly Business is also available to businesses in Canada. Recipients in India do not need a Remitly account to be paid; Remitly's India page offers recipients a free profile to request money.¹⁰²³⁷⁴

Are Wise and Remitly authorised by the RBI?+

Wise: RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.¹³¹ Remitly: Remitly does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its US User Agreement says it processes transactions to India under the Rupee Drawing Arrangements established by the RBI.¹³¹⁰

How fast do Wise and Remitly pay out to an Indian bank?+

Wise: Wise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.¹ Remitly: Remitly says business transfers to India are typically delivered within the hour, and that a delivery time is shown before the sender confirms.³

Do I still need an LUT if I am paid through Wise or Remitly?+

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 Wise, Remitly 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.

Keep reading

Platforms