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

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Editorial team, serviceexportguide.com
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14 min read

Short answer

Wise 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 Skydo is best for local bank transfers from major markets.89

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareSkydo costs about 0.68%; Wise does not publish full pricing.123456
Bank transfer of USD 2,000Cannot compareSkydo costs about 1.12%; Wise does not publish full pricing.123456
Client paying USD 2,000 by card or linkCannot compareSkydo costs about 2.00 to 2.36%; Wise does not publish full pricing.2756
Wise is best forWiseBank transfers to local account details.8
Skydo is best forSkydoLocal bank transfers from major markets.9

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%
3WinvestaGlobal 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 Wise and Skydo compare at a glance?

Wise 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.8101112

WiseSkydo
Best forBank transfers to local account details8Local bank transfers from major markets9
FeesWise'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.81011Skydo 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 markupMid-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.1012Skydo'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
SettlementWise 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.8Skydo'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.5613
FIRAAn 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.810Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.514
Currencies24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.8Local accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.915
KYC: who can sign upWise 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.1617Skydo'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 statusRBI'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.188Skydo 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.186
SupportNot published on the India receiving pages checked.Skydo publishes support@skydo.com and phone 7026000500.4
LimitsMinimum 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.819Skydo 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.419
How clients payThe client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.812Bank 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.92076
Card paymentsNot 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.21Not 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 Wise vs Skydo?

The INR you receive with Wise 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%

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.812

  • 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.188
  • 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.1617
  • Best for: Bank transfers to local account details.8

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.1869

  • 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.186
  • 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.9

How do Wise and Skydo fees and FX markup compare?

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

What does Wise charge?

Transaction typeFeeFX markupGST on feesBest for
Local (domestic, non-Swift, non-wire) transfer to Wise local account detailsUSD 210811Not published18%Clients paying by local bank transfer
Wire or Swift payment to Wise account detailsUSD 2 + plus a fixed fee by currency10811Not published18%Clients paying by international wire

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 927560%Not statedClients paying through a payment link

How do Wise and Skydo compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
WiseWise 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.8Automatic: 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.8Bank transfers to local account details8
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.5613Converted 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 markets9

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

Wise 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.38

PlatformFIRARBI PA-CB statusBest for
WiseAn 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.810RBI'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.188Bank transfers to local account details8
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.514Skydo 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.186Local bank transfers from major markets9

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

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

PlatformCurrenciesHow clients payCard paymentsBest for
Wise24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.8The client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.812Not 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.21Bank transfers to local account details8
SkydoLocal accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.915Bank 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.92076Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.Local bank transfers from major markets9

What are the strengths and limitations of Wise and Skydo?

Wise 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 Wise?

Strengths:

  • Your clients are willing to pay by bank transfer to local account details in USD, GBP, EUR or another supported currency.8
  • You want an e-FIRC issued for each payment received.8
  • You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.16
  • Individual payments are between 5 USD and ₹25 lakh equivalent.8

Limitations:

  • Indian businesses cannot accept card payments through Wise.21
  • Money cannot be held in foreign currency; every receipt is converted to INR.8
  • No conversion fee percentage is published for INR, so the cost of a receipt can only be seen in Wise's calculator.10
  • Single payments above ₹25 lakh equivalent are returned to the sender.8
  • Wise's own pages differ on whether the e-FIRC is free or covered by a 2 USD equivalent fee.810
  • Business types other than sole traders, sole proprietorships, private limited companies, LLPs and general partnerships are not currently onboarded.16

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.9
  • 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.518

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.39
  • No card payment option or card fee is published.7
  • 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 Wise or Skydo?

Choose between Wise and Skydo 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.8
  • You want an e-FIRC issued for each payment received.8
  • You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.16
  • Individual payments are between 5 USD and ₹25 lakh equivalent.8

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.9
  • 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.518

For example, say a designer invoices a US client USD 2,000. Because Wise 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.101256

Which other platforms should you consider besides Wise and Skydo?

Other platforms to consider besides Wise and Skydo are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2223252628303132343536

PlatformBest forEstimated cost on USD 5,000FIRAReview
Karbon BusinessUS bank transfers and marketplace payouts221.00 to 1.18%2223Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.22Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone241.00 to 1.18%2526Razorpay 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.242726Razorpay review
WinvestaLocal transfers with a published per-payment fee28291.24%28303132Free 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.3130Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork331.00 to 4.00%343536Free 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.3637Payoneer 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]Skydo FAQ, What are the fees for using Payment Links? (checked 2026-10-28)
  8. [8]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  9. [9]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  10. [10]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  11. [11]Wise India site, Wise Business pricing, fees at a glance (checked 2026-10-28)
  12. [12]Wise India, Receive international payments (checked 2026-10-28)
  13. [13]Skydo FAQs, How long does settlement take on InstaLinks? (checked 2026-10-28)
  14. [14]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  15. [15]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  16. [16]Wise Help Centre, How to verify your Indian business to receive payments (checked 2026-10-28)
  17. [17]Wise India, Receive pricing (personal accounts) (checked 2026-10-28)
  18. [18]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list dated 16 October 2026 (checked 2026-10-28)
  19. [19]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025, paragraph 11(d)
  20. [20]Skydo FAQs, When should I use the International SWIFT account and when should I use the Local Account? (checked 2026-10-28)
  21. [21]Wise Help Centre, Getting paid to your Wise Business by card, Apple Pay or Google Pay (checked 2026-10-28)
  22. [22]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  23. [23]Karbon, PayPal alternative (checked 2026-10-28)
  24. [24]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  25. [25]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  26. [26]Razorpay, Pricing (checked 2026-10-28)
  27. [27]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  28. [28]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  29. [29]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  30. [30]Winvesta, Multi-currency account (checked 2026-10-28)
  31. [31]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  32. [32]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  33. [33]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  34. [34]Payoneer India, Payoneer Fees (checked 2026-10-28)
  35. [35]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  36. [36]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  37. [37]Payoneer India, Digital FIRC page (checked 2026-10-28)
  38. [38]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  39. [39]Skydo FAQs, From which countries I can not receive payments using Skydo? (checked 2026-10-28)
  40. [40]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: skydo costs about 0.68%; Wise does not publish full pricing.123456 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 Skydo 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.810 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.514

Can individual freelancers use Wise and Skydo?+

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.1617 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 Wise and Skydo 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.188 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.186

How fast do Wise and Skydo 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.8 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.5613

Do I still need an LUT if I am paid through Wise 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 Wise, Skydo or a bank wire.40

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

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

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