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

Author:
Editorial team, serviceexportguide.com
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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 Winvesta is best for local transfers with a published per-payment fee.516

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareWinvesta costs about 1.24%; Wise does not publish full pricing.1234
Bank transfer of USD 2,000Cannot compareWinvesta costs about 1.35%; Wise does not publish full pricing.1234
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
Wise is best forWiseBank transfers to local account details.5
Winvesta is best forWinvestaLocal transfers with a published per-payment fee.16

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 Wise and Winvesta compare at a glance?

Wise and Winvesta 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.5781

WiseWinvesta
Best forBank transfers to local account details5Local transfers with a published per-payment fee16
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.578Up 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.1
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.79Winvesta 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.210
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.5USD 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.111213
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.57Free 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
Currencies24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.5Local 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).6141
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.1516Freelancers (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.1718
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.195Winvesta 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.202122
SupportNot published on the India receiving pages checked.Email support@winvesta.in; phone +91-(0)20-7117 8885, Monday to Friday, 10:00 am to 6:00 pm IST.2
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.523Winvesta 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).241425
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.59Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.6261413
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.27Yes, 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.1328

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

The INR you receive with Wise and Winvesta 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%

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.59

  • 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.195
  • 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.1516
  • Best for: Bank transfers to local account details.5

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.2143

  • 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.202122
  • 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.1718
  • Best for: Local transfers with a published per-payment fee.16

How do Wise and Winvesta fees and FX markup compare?

Wise and Winvesta 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 2758Not published18%Clients paying by local bank transfer
Wire or Swift payment to Wise account detailsUSD 2 + plus a fixed fee by currency758Not published18%Clients paying by international wire

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 published130%Not statedClients paying by card

How do Wise and Winvesta compare on settlement speed?

Wise and Winvesta 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.5Automatic: 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.5Bank transfers to local account details5
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.111213The 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.14484Local transfers with a published per-payment fee16

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

Wise and Winvesta 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
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.57RBI'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.195Bank transfers to local account details5
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.202122Local transfers with a published per-payment fee16

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

Wise and Winvesta 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.5The client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.59Not 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.27Bank transfers to local account details5
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).6141Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.6261413Yes, 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.1328Local transfers with a published per-payment fee16

What are the strengths and limitations of Wise and Winvesta?

Wise and Winvesta 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.5
  • You want an e-FIRC issued for each payment received.5
  • You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.15
  • Individual payments are between 5 USD and ₹25 lakh equivalent.5

Limitations:

  • Indian businesses cannot accept card payments through Wise.27
  • Money cannot be held in foreign currency; every receipt is converted to INR.5
  • No conversion fee percentage is published for INR, so the cost of a receipt can only be seen in Wise's calculator.7
  • Single payments above ₹25 lakh equivalent are returned to the sender.5
  • Wise's own pages differ on whether the e-FIRC is free or covered by a 2 USD equivalent fee.57
  • Business types other than sole traders, sole proprietorships, private limited companies, LLPs and general partnerships are not currently onboarded.15

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.61
  • You are a freelancer without a registered business who has a PAN and Aadhaar.17
  • 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.2120
  • 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.1
  • Card collection fees are not published.2813
  • Winvesta's own pages disagree on the number of currencies, the maximum holding period and card settlement time.141251213

Should you choose Wise or Winvesta?

Choose between Wise and Winvesta 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.5
  • You want an e-FIRC issued for each payment received.5
  • You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.15
  • Individual payments are between 5 USD and ₹25 lakh equivalent.5

Choose Winvesta if:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.61
  • You are a freelancer without a registered business who has a PAN and Aadhaar.17
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

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.79210

Which other platforms should you consider besides Wise and Winvesta?

Other platforms to consider besides Wise and Winvesta are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.30313233343537384041444546

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets290.68%303132333435Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.3436Skydo review
Karbon BusinessUS bank transfers and marketplace payouts371.00 to 1.18%3738Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.37Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone391.00 to 1.18%4041Razorpay 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.394241Razorpay review
PayoneerMarketplace payouts such as Amazon or Upwork431.00 to 4.00%444546Free 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.4647Payoneer 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]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  6. [6]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  7. [7]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  8. [8]Wise India site, Wise Business pricing, fees at a glance (checked 2026-10-28)
  9. [9]Wise India, Receive international payments (checked 2026-10-28)
  10. [10]Winvesta FAQs, How can I view the FX rate for the conversion of my funds? (checked 2026-10-28)
  11. [11]Winvesta FAQs, How long does it take for funds to reach my Indian bank account? (checked 2026-10-28)
  12. [12]Winvesta FAQs, How does settlement work? Do I need to submit an invoice to withdraw funds? (checked 2026-10-28)
  13. [13]Winvesta, Card Collections via Payment Links (checked 2026-10-28)
  14. [14]Winvesta FAQs, What is a global collections account and how does it work? (checked 2026-10-28)
  15. [15]Wise Help Centre, How to verify your Indian business to receive payments (checked 2026-10-28)
  16. [16]Wise India, Receive pricing (personal accounts) (checked 2026-10-28)
  17. [17]Winvesta FAQs, What documents do I need to open a global collection account as a freelancer? (checked 2026-10-28)
  18. [18]Winvesta FAQs, What documents do I need to open a global collections account as a business owner? (checked 2026-10-28)
  19. [19]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list dated 16 October 2026 (checked 2026-10-28)
  20. [20]Winvesta FAQs, How is Winvesta regulated? (checked 2026-10-28)
  21. [21]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)
  22. [22]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  23. [23]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025, paragraph 11(d)
  24. [24]Winvesta FAQs, What are the transaction limits on my account? (checked 2026-10-28)
  25. [25]Winvesta FAQs, What is the maximum time I can keep funds in my GCA? (checked 2026-10-28)
  26. [26]Winvesta FAQs, How do I receive USD? (checked 2026-10-28)
  27. [27]Wise Help Centre, Getting paid to your Wise Business by card, Apple Pay or Google Pay (checked 2026-10-28)
  28. [28]Winvesta FAQs, My client paid ₹1,000, and their bank charged them a 2% fee. How does that affect me? (checked 2026-10-28)
  29. [29]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  30. [30]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  31. [31]Skydo, Home page (checked 2026-10-28)
  32. [32]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  33. [33]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  34. [34]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  35. [35]Skydo, Terms of use (checked 2026-10-28)
  36. [36]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  37. [37]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  38. [38]Karbon, PayPal alternative (checked 2026-10-28)
  39. [39]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  40. [40]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  41. [41]Razorpay, Pricing (checked 2026-10-28)
  42. [42]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  43. [43]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  44. [44]Payoneer India, Payoneer Fees (checked 2026-10-28)
  45. [45]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  46. [46]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  47. [47]Payoneer India, Digital FIRC page (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]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: winvesta costs about 1.24%; Wise 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 Wise and Winvesta 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.57 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

Can individual freelancers use Wise and Winvesta?+

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.1516 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.1718

Are Wise and Winvesta 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.195 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.202122

How fast do Wise and Winvesta 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.5 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.111213

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

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, Winvesta or a bank wire.50

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

How Wise Business works for Indian freelancers and companies: RBI status, who can sign up, how clients pay, costs, e-FIRC, purpose code, limits and EDF points.

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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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