You just landed an international client who wants to pay you. They mention a "wire transfer" or a "bank transfer," and you’re left wondering, aren’t those the same thing?

While the terms are often used interchangeably, they refer to different methods of transferring money. They vary in fees, processing networks, required details, and typical use cases.
In this blog, we’ll break down what wire transfers and bank transfers actually mean, how they differ, and which one is better suited for your international payments.

Imagine sending money through a chain of trusted messengers. That's essentially how a wire transfer works, it's an electronic payment that moves money between bank accounts, usually through the <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">SWIFT network</a> or Western Union network. While wire transfer can also be used for domestic transfers, they are largely used for international transactions since bank transfers often come out cheaper and less complicated for local transactions.&nbsp;

Your client will need several pieces of general information to send a wire transfer. They'll need your bank's <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">SWIFT code</a> (a unique identifier), your account number, and sometimes your IBAN (if you're in Europe). They might also need to answer security questions or enter a one-time code their bank sends them. Wire transfer is typically suitable for large transactions.&nbsp;

Wire transfers are designed for secure, high-value transactions. Banks treat them with added caution, often requiring extra verification before processing to ensure safety and compliance.

A bank transfer is the everyday way people move money locally. Think about how you might pay your phone bill or send money to a friend, that's typically a bank transfer.

These payments use local networks in each country. In the United States, it's <a href="https://www.skydo.com/blog/everything-about-ach-payments">ACH</a>. Europe uses <a href="https://www.skydo.com/blog/what-are-sepa-transfers">SEPA</a>. The UK has Faster Payments. India has NEFT and RTGS. Each system is designed to move money quickly and cheaply within that region.

The beauty of bank transfers is their simplicity. Your client logs into their online banking, enters your account details, and clicks send. There are no SWIFT codes or lengthy verification processes. The money moves directly from their bank to the recipient bank without bouncing through intermediary banks.

Bank money transfers are used for regular business payments like payroll, invoice settlements, and subscription fees. They're the workhorse of day-to-day financial transactions because they're reliable, cheap, and easy to set up.

Wire Transfer vs Bank Transfer: Key Differences

Here’s a quick peek into wire transfer vs bank transfer:

The network difference matters more than you think

Wire transfers route through SWIFT, a global messaging system that connects financial institutions worldwide. When your European client sends money via SWIFT, the payment might travel through three different banks before reaching you. Each bank can charge a fee.

Bank transfers use local networks designed for that specific country or region. SEPA connects European banks directly. ACH does the same for US banks. This direct connection means faster processing and lower costs.

Wire transfer fees hit from multiple angles. Your client's bank charges $30-80 to send. Each intermediary bank takes $10-25. Banks often add a markup to the exchange rate, costing another 2-4%. On a $5,000 payment, you could lose $200-400 to fees and poor exchange rates.

Bank transfers within local networks typically cost nothing to receive. Even when sending fees apply, they're usually under $5. The catch? True bank transfers only work within the same country or currency zone.

Wire transfers often have variable delivery times based on routing. A payment from Japan to Brazil might take five days if it travels through correspondent banks in New York and London. Weekend and holiday delays add more time.

Local bank transfers often beat wire transfers for speed. UK Faster Payments clear in seconds. European SEPA transfers take one business day maximum. US ACH transfers typically clear overnight from the clearing house.

Wire transfers require more paperwork&nbsp;

While discussing bank transfer vs wire transfer, know that wire transfers need extensive details because they cross borders. Your client needs your bank's SWIFT code, full name and address, account number, and sometimes an IBAN. They might also need to provide a payment purpose code for compliance.

Transfer of funds through banks is usually simple. Within the US, you just need a routing number and account number. In Europe, an <a href="https://www.skydo.com/blog/iban-number-meaning-full-form">IBAN c</a>overs everything. No lengthy forms or compliance paperwork required.

Wire Transfer vs Bank Transfer: How Skydo Brings the Best of Both Worlds

For many businesses in India, receiving international payments has traditionally meant relying on wire transfers via the SWIFT network—a process that’s often slow, expensive, and cumbersome. On the other hand, local bank transfers (like ACH in the US or SEPA in Europe) are faster and cheaper, but not typically available for cross-border payments.

Skydo offers you <a href="https://www.skydo.com/blog/virtual-account-numbers">virtual bank accounts</a> in key geographies like the US, Europe, Canada and more. With Skydo’s virtual international accounts, your clients abroad can pay you using local transfer methods, like ACH if they’re in the US, or SEPA if they’re in the EU. This means they don’t have to initiate a formal wire transfer, fill out complex forms, or pay hefty SWIFT fees. For them, it’s just a regular domestic transfer.

Once the payment hits your virtual account, Skydo handles the rest. The funds are consolidated, transferred to India, and settled into your Indian bank account, all at the live mid-market exchange rate, with no hidden forex markup. Unlike traditional banks that shave off 2–4% through unfavourable exchange rates, Skydo gives you full transparency on how much you’ll receive.

So in essence, you get the speed, cost savings, and simplicity of a local bank transfer, paired with the global reach and compliance of a wire transfer, without the usual friction on either side.

It’s the best of both worlds: easy for your clients, and better value for you.

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Wire Transfer Vs Bank Transfer

Dodo Payments is an India-based fintech platform that processes cross-border transactions. Founded in 2023 by Rishabh Goel and Ayush Agarwal, the platform functions as a Merchant of Record, handling payment processing, tax calculations, and compliance requirements for businesses dealing with international customers.&nbsp;

This article takes you through Dodo Payments' core features, fee structure, operational capabilities, and comparable alternatives to provide context for businesses considering different cross-border payment solutions for digital goods selling.

Dodo Payments Features: A Quick Rundown&nbsp;

Dodo Payments offers a suite of features aimed at simplifying global transactions for businesses:

Businesses can receive payments from over 100 countries through Dodo Payments' gateway solution. The platform enables international transactions through their payment processing infrastructure.

The service supports various local payment methods customised to different regions around the world. This localisation helps improve conversion rates by letting customers pay using familiar methods.

Dodo Payments automatically handles tax calculations and regulatory compliance across different jurisdictions. While specific support for FIRA (Foreign Inward Remittance Advice) isn't clearly documented, the platform aims to simplify the often complex tax requirements of international commerce.

For businesses with recurring revenue models, Dodo Payments provides tools to manage subscriptions, including automated billing and renewal processes. This helps maintain steady cash flow and reduces administrative overhead.

Merchants can add their branding elements to checkout pages, creating a more seamless customer experience. The platform allows businesses to maintain their visual identity throughout the payment process.

Dodo Payments offers a <a href="https://dodopayments.com/pricing?no_follow=true">simple pricing model</a> for most users, with separate options for enterprise clients:

Standard plan: 4% + 40¢ per transaction&nbsp;

Enterprise plan: Custom pricing&nbsp;

For larger businesses ready for international expansion, Dodo Payments offers tailored pricing packages that include:

To understand how this pricing affects your bottom line, consider this example:

The business would receive $95.60 from the $100 sale.

The percentage can significantly impact revenue for higher-volume sellers. For instance, a business processing $10,000 monthly in transactions would pay approximately $440 in fees and keep $9,560.

This pricing structure makes Dodo Payments particularly suitable for small to medium-sized businesses that prioritize simplicity over negotiating lower rates with banks.&nbsp;

Skdyo: A seamless Dodo Payments Alternative for receiving international payments&nbsp;

For companies looking for alternatives to platforms like Dodo, Skydo offers a specialized approach for receiving international payments with several distinctive advantages:

While many payment platforms apply hidden markups to exchange rates, Skydo provides transparent live forex rates without any <a href="https://www.skydo.com/blog/forex-markup-fee-explained">forex markup fee </a>and high payment success rates. This means more of your money actually reaches you rather than being lost to unfavourable conversion rates.

Skydo's pricing is straightforward with no hidden charges - $19 for payments under $2,000, $29 for payments between $2,001 and $10,000, and 0.3% for payments above $10,000. This clarity helps businesses accurately forecast their payment costs.

Unlike other platforms that may charge extra for <a href="https://www.skydo.com/blog/automated-firc-simplifying-international-payments-compliance">Foreign Inward Remittance Advice (FIRA)</a> or make you wait days, Skydo automatically generates this crucial compliance document for every transaction at no additional cost. You can directly download it from your dashboard, either one by one or in bulk.

Skydo operates with, in principle, approval from the Reserve Bank of India as a Payment Aggregator for Cross-Border Payments (PACB), ensuring complete compliance with Indian financial regulations.

Customers receive personalized support through a dedicated account manager, offering a level of service typically reserved for enterprise clients on other platforms. This ensures a no-friction experience.&nbsp;

Skydo provides virtual bank accounts in multiple countries (US, UK, Canada, Australia, and others), allowing clients to pay you as if you were a local business in their country.

Beyond just payments, Skydo offers GST-compliant invoicing, real-time payment tracking, and accounting features that simplify the entire international business transaction cycle.

Payments typically reach your bank account within 24 hours without hassle, significantly faster than traditional bank transfers, which can take 3-5 business days or more.

For businesses handling international transactions, these features offer a more direct, transparent alternative to platforms that may emphasize outgoing payments over incoming ones or that apply multiple fees throughout the payment process.

<a href="https://www.skydo.com/">Explore Skydo</a>

Dodo Payments: Features and Fees You Should Know

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Imagine finally selling that first batch of handcrafted leather wallets on Amazon US, only to see 5% of your hard-earned money disappear when you withdraw your earnings to India. You're not alone.&nbsp;

With Amazon Global Selling set to reach <a href="https://sell.amazon.in/grow-your-business/amazon-global-selling/exports-digest">$20 billion</a> in cumulative Indian exports by 2025 and already supporting over 150,000 exporters since 2015, the opportunity is massive. These days, it's not just sellers from metro cities. Artisans and small businesses from Surat, Agra, Jaipur, Ludhiana, and Coimbatore are successfully reaching buyers across the US, Europe, and the Middle East.&nbsp;

But while you are busy perfecting your products, hidden payment charges are quietly eroding your profits. In this blog, we'll show you how to avoid those hidden charges that slash your profits when withdrawing Amazon payments. You'll learn the most cost-effective way to receive your global selling earnings in India.

The Hidden Costs of Receiving Payments from Amazon Global Selling India

Despite the surge in global sales, many Indian exporters are unaware of how much they pay in fees and foreign exchange markups when withdrawing their payments, or that there is a way to retain more of their Amazon earnings. There are primarily two ways through which you can withdraw your Amazon earnings:

Amazon's Currency Converter for Sellers (ACCS)

When using Amazon's built-in currency converter, fees come in two parts:

A conversion fee based on your annual volume:

Secondly Amazon Currency Converter for Sellers applies the exchange rate provided by its third-party service provider on the day your bank transfer is initiated, typically adding a forex markup of around 1–2% over the prevailing market rate.

Let's see what this means with a real example. If you earned $200,000 in a year:

Various third-party services, such as Skydo, Payoneer, and PingPong, offer alternatives to Amazon's built-in currency converter. These services typically charge lower transaction fees than Amazon, ranging from 0.3% to 1%, depending on the provider and your monthly volume.

However, not all platforms are equally transparent about their exchange rates. Some third-party services offer low transaction fees but also levy markup on the prevailing forex rates. Without a clear disclosure of the exact exchange rate you're receiving, you might still lose significant value on each payment.

The most cost-effective providers combine low transaction fees with transparent, mid-market exchange rates. On earnings of $200,000, choosing the right payment solution can save Indian sellers several lakh rupees compared to using Amazon's default converter.

For sellers focused on growing their global expansion, these savings can be reinvested in inventory, marketing, or product development rather than being lost to unnecessary fees. That's why it's worth comparing not just the advertised fees, but also the actual exchange rates offered by different payment providers.

Keep most of your Amazon Global Selling Earnings with Skydo

<a href="https://www.skydo.com/">Skydo</a> offers Indian sellers a more affordable way to receive Amazon Global Selling payments compared to traditional options. With transparent pricing and access to actual mid-market exchange rates, Skydo helps you keep more of your hard-earned profits.

Skydo's fee structure is straightforward:

When compared to other platforms, the savings are significant:

What truly sets Skydo apart isn’t just its transparent, affordable fees, it’s the complete payments ecosystem built specifically for Amazon global sellers. Skydo is among the few Indian platforms to receive in-principle RBI authorisation as a Payment Aggregator for Cross Border Payments, giving you unmatched regulatory trust.

With Skydo, every Amazon payment comes with a free, instant FIRA, no more delays or extra charges. Sellers get access to global accounts in major currencies like USD, GBP, and EUR, so you can receive payouts from Amazon worldwide without hidden markups.

Plus, Skydo integrates directly with Amazon Seller Central for a seamless experience, while a dedicated India-based support team is always on hand to assist you. From compliance to convenience, Skydo empowers you to save more on every withdrawal and focus on growing your global business.

Common Amazon seller India payment issues

Many Indian Amazon Global sellers face these challenges when receiving payments:

These issues directly impact cash flow and profitability.

With Skydo, an Amazon-approved partner, sellers in India can avoid these issues. Payments arrive faster, at live exchange rates with no hidden markups, and sellers automatically get their FIRA and eBRC for compliance.

Yes,&nbsp; as Amazon Global Sellers in India, you’ll need a <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">Foreign Inward Remittance Advice (FIRA) (often still referred to as FIRC) </a>for every payout received from Amazon overseas marketplaces.

Receive Payments from Amazon Global Selling in India With Skydo&nbsp;

Getting started with Skydo is quick and straightforward. Here's how you can begin receiving your Amazon payments with lower fees:

Skydo provides instant <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">FIRC documentation</a> for all your transactions, eliminating the usual wait time and paperwork hassle that comes with international payments. This makes compliance and tax filing much easier for Indian sellers.

If you ever need help, we at Skydo offer local support from an India-based team that understands the unique challenges faced by Amazon Global Selling merchants. Our customer service is available via call, WhatsApp, and email, with most queries resolved within two business hours.

How to Receive Payments from Amazon Global Selling in India

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India’s cross-border payments market is booming. Recent government data show that exports hit USD 602.64 billion during Apr–Dec 2024 (up 6% year-on-year)as per <a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=2098447#:~:text=The%20momentum%20has%20continued%20into,integrated%20into%20the%20global%20economy">pib.gov.in</a>, reflecting growing international trade and freelance work.

As more Indian SMBs and freelancers serve global clients, the challenge is receiving those payments quickly, compliantly, and affordably. Hidden fees, delayed processing, and complex paperwork are common complaints.

 In this guide, we compare the leading platforms used by Indian businesses to receive international payments smoothly, so you can choose the best one for your needs. We include both homegrown fintechs and widely used global services for context.

Apart from global platforms like PayPal and Wise, several India-specific players are also building solutions tailored for exporters and freelancers. Here's a quick look:

Receive affordable and compliant cross-border payments with Skydo&nbsp;

If you're an Indian freelancer or SMB receiving international payments, your choice of platform directly impacts your profits and compliance. While players like Razorpay, EximPe, and Karbon offer solid features with varying fees, Skydo stands out for one reason: unmatched cost transparency. With zero forex markup, instant FIRC, and an RBI-approved infrastructure, Skydo is built specifically for Indian exporters.

For large-value payments in USD, Skydo consistently delivers higher take-home payouts without the complexity, delays, or hidden charges. If saving money and staying compliant matter, Skydo is the smarter, simpler choice.

Top 5 Cross-Border Payment Companies in India

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International receipts involve extra steps and rules. You must pick a suitable channel, share the right details (account number/Swift code or invoice link), and follow RBI/FEMA regulations (purpose codes, FIRC). 

Below, we’ll compare each method and highlight Skydo: an RBI-approved fintech among others- so you can choose the fastest, cheapest, and most compliant option.

Using your Indian bank account’s <a href="https://www.skydo.com/swift-code-finder">SWIFT/BIC code </a>is the traditional way. You share your account number and SWIFT code with the sender. The sender’s bank uses the SWIFT network to move funds to your account.

Remittance Services (Western Union, Wise P2P, etc.)

These are money-transfer services primarily for personal or casual transfers.

Online Payment Gateways (PayPal, Stripe, etc.)

Gateways let clients pay invoices or buy products online. You simply send a PayPal invoice or use Stripe’s checkout links.

Virtual Multicurrency Accounts (Skydo, Payoneer, Wise Business)

This modern method gives you real bank accounts in foreign countries. When a client in the US/EU/UK pays you in local currency, it lands in that virtual account; the fintech then converts and remits INR to you.

Each option suits different needs: banks for large safety, gateways for integration, remittance for convenience, and virtual accounts for cost/efficiency.

RBI Compliance: Purpose Codes &amp; FIRC/FIRA

All foreign receipts must comply with RBI rules under FEMA. Two key requirements are:

Complying with these requirements is as important as choosing the right transfer method,

Skydo stands out as an India-made solution focused on receiving (inbound) payments:

In short, Skydo simplifies compliance and slashes costs on each invoice. It’s ideal for freelancers and exporters who want full payment, zero surprises

How to receive international payment in India

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Payoneer is a widely used global payment platform that helps freelancers and businesses manage cross-border payments with ease. It provides virtual accounts in multiple currencies and integrates with major marketplaces like Amazon, Fiverr, and Upwork. However, for many users – especially in India – Payoneer’s fee structure and policies can be a drawback. Key examples include:

These costs add up and eat into your earnings. As a result, many Indian freelancers, SaaS founders, exporters, and other businesses are exploring alternative platforms that offer lower fees, faster settlements, and better local support. In the sections below, we’ll highlight some of the leading Payoneer alternatives – Skydo, Wise, PayPal, PingPong, Stripe, Tipalti, and others – and how they compare in terms of features, costs, and compliance support.

Skydo is an India-focused international payments platform designed for exporters and freelancers. It provides local virtual bank accounts in multiple countries (including the US, UK, Canada, and Australia), so your overseas clients can pay into a “local” account without using SWIFT. Skydo’s offerings are tailored to Indian users seeking cost efficiency and compliance ease:

Bottom line: Skydo’s India-centric approach – zero forex markup, flat, affordable fees, instant FIRA, and fast local settlements – often makes it a better alternative to Payoneer for Indian freelancers and businesses. If you receive international payments and want to maximise what lands in your bank account, Skydo is built for that. (With Skydo, you save about 50% on fees for a typical transaction, and your money arrives faster with compliance taken care of.)

Wise Business: Global Alternative with Mid-Market Rates

Wise (formerly TransferWise) is another popular alternative known for low-cost international transfers. Wise Business accounts offer:

Wise’s clarity on fees and mid-market rates has made it one of the top Payoneer alternatives globally. It’s especially suitable if you prioritise transparent pricing and hold multiple currencies. However, if you need India-specific features (like instant INR compliance docs or local support) or if your single invoices often exceed $10k, you may need to consider other options like Skydo.

PayPal: Globally Accepted but Costly Alternative

PayPal is a household name for international payments and might be considered an alternative to Payoneer, especially given its wide acceptance. Many overseas clients are comfortable with PayPal. Key points for Indian users:

In summary, PayPal’s ease of use and global ubiquity are its strong suits – if a client insists on paying via PayPal, it’s an option. However, for most freelancers and small businesses in India, PayPal turns out to be a pricier alternative to Payoneer. Many prefer specialised services like Skydo or Wise that charge less, except in cases where PayPal’s buyer protection or familiarity is a must-have.

PingPong: E-Commerce Friendly Payoneer Alternative&nbsp;

PingPong is a fintech platform popular with Indian e-commerce sellers (especially those selling on global marketplaces like Amazon or eBay). It positions itself as a direct competitor to Payoneer for marketplace payouts. Notable features include:

Overall, for merchants selling products abroad, PingPong simplifies getting paid from marketplaces and provides a viable alternative to Payoneer. However, to know whether it is the best Payoneer alternative, it is important to know how much you are paying, including forex markups, if any. 

Stripe: Developer-Friendly Alternative (Invite-Only in India)

Stripe is a global payments powerhouse known for its flexible APIs and tools for online businesses. While primarily a payment processor for merchants (to accept customer payments), Stripe also offers capabilities for sending payouts and holding balances, which can make it an alternative to Payoneer in some scenarios. Key things to note:

In short, Stripe can be a powerful alternative if your use-case involves running an online business or platform with global customers – it’s more a competitor to payment gateways than a direct Payoneer replacement for freelancers. Given that it’s currently restricted in India and has higher costs, most users would find more India-friendly options like Skydo, Infinity, or Karbon to be better for simply receiving international payments.

Stripe is a good Payoneer alternative if you need deep customisation and can get access in India. Otherwise, more India-friendly options (Skydo, Infinity, etc.) are likely better.

Tipalti: Enterprise Payoneer Alternative for Mass Payouts

For larger organisations that need to pay out hundreds or thousands of recipients globally (such as marketplaces, affiliate networks, or SaaS platforms), Tipalti is a comprehensive solution often mentioned alongside Payoneer. Tipalti isn’t just a payment receiver – it’s a mass payments and accounts payable automation platform. Here’s what it offers:

In essence, Tipalti is a top choice for companies that need a scalable, automated payout system and are perhaps outgrowing the simplicity of Payoneer. It’s frequently used by companies in the gig economy, affiliate networks, or global marketplaces to pay contributors around the world. If you’re a solo freelancer or small business, you generally wouldn’t use Tipalti yourself – instead, you’d pick one of the other alternatives on this list that cater to receiving client payments.

In recent years, several Indian fintech platforms have emerged to help local businesses receive international payments faster and cheaper. These are built with Indian regulations, banking systems, and user needs in mind. Two notable ones are Karbon and Infinity:

Karbon is a fintech platform designed for Indian exporters and service providers who want a fast, seamless way to collect payments from abroad. It’s often pitched as a Payoneer alternative with an emphasis on eliminating bank hassles. Key features:

Why consider it: Karbon’s simple, streamlined interface and hands-on compliance support make it a strong Payoneer alternative for Indian agencies, SaaS companies, and exporters. It’s particularly appealing if you have faced delays or complex paperwork with banks.

 In terms of cost, Karbon advertises 0% FX markup and up to ~1% in fees (depending on volume) – which is competitive, though higher than Skydo’s flat 0.3% on large transfers. Essentially, Karbon focuses on speed and simplicity, catering to businesses that want a plug-and-play solution for cross-border collections.

Infinity positions itself as a lightweight, cost-effective alternative to Payoneer aimed at Indian freelancers and small businesses. It focuses on maximising what you receive by cutting fees to the bone. Notable points:

Why consider it: If minimising fees is your #1 priority and you’re dealing with moderate transaction sizes, Infinity is very attractive. For example, on a $1,000 payment, Infinity would take $5 (0.5%), whereas Payoneer might take around $30+ in various fees.

The no-frills approach (no debit cards, no multi-currency holding – just receiving and converting to INR) keeps it simple and low-cost. It’s a great option for freelancers or small export businesses who want to avoid high forex fees and don’t need the broader marketplace integrations that Payoneer offers.

(Note: Other regional fintech alternatives include the likes of Xoom (by PayPal) for remittances, or Statrys (a Hong Kong-based FX platform), which targets Asian SMEs. However, for India-specific use, platforms like Skydo, Karbon, and Infinity currently lead the pack in balancing cost and convenience.)

To put things in perspective, let’s compare receiving a $10,000 payment through Payoneer vs. Skydo:

That’s a huge difference in net amount received – and illustrates why many users are switching. If you’re collecting multiple payments every month, saving 3-5% on each transfer means a lot more money in your pocket over the year.

While Payoneer remains a reliable, well-established platform with global reach, newer services like Skydo are offering India-focused improvements: more savings, faster INR payouts, and built-in compliance. 

The bottom line: if receiving international payments is a big part of your business and you want to retain more of your earnings, it’s worth considering a Payoneer alternative that aligns with your needs.

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Payoneer Alternatives

Updated on: 27th November 2025

India is seeing a massive surge in foreign remittances, from freelancers working with global clients to families receiving support from relatives abroad. But while sending money is easier than ever, receiving it efficiently, affordably, and compliantly still poses challenges for many.

In this guide, we break down everything you need to know to receive money from abroad in India, covering bank transfers, online platforms, virtual accounts, required documents, tax rules, and the smartest options for your needs.

What Are the Main Ways to Receive Money From Abroad in India?

Bank wire transfers via the <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">SWIFT network</a> are one of the most common ways to receive international payments in India, especially for established businesses or high-value transactions.

A Bangalore-based IT services company receives $150,000 from a U.S. corporate client for a quarterly contract. The client uses SWIFT to transfer funds from Chase Bank to HDFC Bank.

<a href="https://www.skydo.com/blog/virtual-account-numbers">Virtual accounts</a> offer a modern, cost-effective way for Indian freelancers and businesses to receive international payments.&nbsp;Platforms like Skydo and Wise provide you with local receiving accounts in foreign countries, so clients can pay you like a local.

Steps to Receive via Virtual Account:

A freelancer in Pune provides design services to a client in New York. Instead of using SWIFT, the client pays via ACH using the freelancer’s virtual US bank account from Skydo. The money is converted and settled in INR within 24 hours, with no delays, no hidden forex fees.

<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives">PayPal </a>and <a href="https://www.skydo.com/blog/stripe-india-charges-review-alternatives">Stripe</a> are two of the most popular global payment platforms for freelancers, agencies, and online businesses. They offer simple setups to receive payments from international clients, especially for small-ticket or card-based transactions.

These platforms act as intermediaries; your client pays using their preferred method (card, wallet, bank), and you withdraw the converted amount to your Indian savings account.

An Indian SaaS business uses Stripe to collect monthly subscriptions from global customers, offering seamless card payments and auto-billing. Meanwhile, a freelancer uses PayPal to invoice clients for one-off projects or small retainer work, offering a quick and familiar option for international clients to pay via card or wallet.

 Other Methods: Remittance Services &amp; UPI-Based Transfers

Apart from bank transfers, virtual accounts, and payment gateways, there are other ways Indian individuals receive money from abroad,&nbsp; such as cash remittance services (Western Union, MoneyGram) and UPI-linked international transfers.

These methods are typically more suited for personal remittances rather than business transactions.

Remittance Services (e.g., Western Union, MoneyGram)

&nbsp;UPI-Linked Transfers (via Tie-ups with NRIs or Global Apps)

A student receives ₹25,000 from their parents abroad via Western Union, or an NRI sends a small Diwali gift through a global app integrated with UPI. Quick, simple, but not appropriate for business invoices or export earnings.

When it comes to receiving international payments in India, the method you choose significantly impacts how much actually reaches your account. Below is a breakdown comparing traditional bank wire transfers, payment gateways (like PayPal, Stripe), and virtual accounts (like Skydo).

Typical Scenario: If you’re receiving $5,000, you might lose ₹5,000–₹10,000 in deductions before it hits your account.

Use Case: Good for small, frequent payments or client card payments, but costly for large transfers.

Best For: Exporters, agencies, and freelancers who want clarity, savings, and automated documentation.

 RBI Guidelines &amp; Tax: What You Need to Know

Whether you're a freelancer, a small business, or receiving money from friends or family abroad,&nbsp; it's important to stay <a href="https://www.skydo.com/blog/compliance-guideline-for-inward-remittance">compliant with RBI and Indian tax regulations</a>. Here's what you need to know:

All foreign inward remittances must comply with the Foreign Exchange Management Act (FEMA). The purpose of the transfer (gift, income, business payment, etc.) determines the applicable regulation and reporting requirement.

Virtual accounts (Skydo, Wise) offer ease, low fees, and instant FIRA.

Use virtual accounts for routine payments. For very large sums, occasional SWIFT transfers may still be necessary."

Payment gateways like PayPal or Stripe are convenient, but plan to avoid conversion markups by withdrawing via lower-cost alternatives or virtual accounts.

How to get paid for freelance work from abroad?

If you’re a freelancer in India, the easiest ways to get paid by international clients are:

For compliance, always keep your FIRA as proof of inward remittance.

Growing Global

Understanding Global Payments blogs