Question 1

How do you calculate the 'You should ask for' amount?

Accepted Answer

To receive a specific INR amount after all Wise fees, divide your target INR amount by the mid-market exchange rate, then divide by (1 - 0.018) and further adjust for GST impact, plus add the $2 FIRA fee. For example, to receive ₹4,00,000 in hand, you'd need to invoice approximately $5,500–$5,650 .

Question 2

What percentage does Wise take?

Accepted Answer

Wise charges a ~1.8% conversion fee on international payments received in India. On top of this, 18% GST is applied on the conversion fee, and there is also a $2 FIRA fee per transaction. While Wise uses the live mid-market exchange rate with no FX markup, the effective total cost typically comes to around ~2% of the invoice value.

Question 3

Does Wise charge a fee to receive money in India?

Accepted Answer

Yes. Receiving international payments in India through Wise is not free for business accounts. A conversion fee of ~1.8% applies on USD-to-INR transfers, along with a $2 FIRA charge per transaction. In addition, 18% GST is levied on the conversion fee, which increases the overall cost.

Question 4

Does Wise add a markup to the exchange rate?

Accepted Answer

No. Wise does not add a markup to the exchange rate and uses the real mid-market rate. Instead of hiding costs in the FX rate, Wise charges a transparent conversion fee, along with applicable GST on that fee and a $2 FIRA charge per transaction.

Question 5

Can I pass Wise fees on to the client?

Accepted Answer

Wise's fees are charged on the receiving side (conversion fee, GST, and FIRA charge), so they cannot be cleanly surcharged to the client. In most cases, Indian businesses either absorb these costs into their pricing or switch to lower-cost bank-transfer-based collection methods to reduce the overall fee burden.

Question 6

Do Wise fees change based on invoice value?

Accepted Answer

Yes , the conversion fee is a percentage so it scales with invoice size; bigger invoices cost proportionally more in absolute terms.

Question 7

Can Indian users hold a foreign currency balance in Wise?

Accepted Answer

No. Indian accounts cannot hold foreign currency long-term; funds convert to INR on receipt.

Question 8

How much is the Wise fee for $100?

Accepted Answer

On a $100 payment, Wise charges a ~1.8% conversion fee, which comes to $1.80 . On top of this, 18% GST applies on the conversion fee, adding roughly $0.30 , plus a $2 FIRA charge per transaction. Overall, the total deductions come to approximately $4 , making the effective cost around 4% of a $100 receipt.

Question 9

How is Skydo different from Wise for receiving international payments?

Accepted Answer

Both Skydo and Wise use the live mid-market exchange rate for USD-to-INR transfers. The key difference is in pricing structure. Skydo charges a flat fee per transaction , which makes it more cost-efficient for larger invoices, along with free and instant per-transaction FIRA and GST-compliant invoicing. Wise, on the other hand, uses a percentage-based conversion fee model, along with a per-transaction FIRA charge and applicable GST, which can make costs higher as invoice sizes increase.

Question 10

Does Wise charge GST on its fees in India?

Accepted Answer

Yes, 18% GST applies on Wise's conversion fee for Indian users. On a $10,000 payment, Wise's ~1.8% conversion fee comes to about $180 , with GST adding another ~$29–$31 , plus a $2 FIRA charge , taking total deductions to roughly $220 . In comparison, a flat-fee model like Skydo (around $19–$29 per transfer) keeps total costs significantly lower at scale, bringing the cost on the same $10,000 transfer closer to ~$50–$60 overall.

Wise Fee Calculator For India

How Do Wise Fees Actually Work for Indian Businesses?

How Can You Reduce Wise Fees on International Payments to India?

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