Wise Pricing: Complete Guide on Fee Breakdown
Wise is one of the most transparent platforms on price. The all-in cost still typically lands at ~2% per transaction. Here's the full breakdown for Indian exporters, with a worked example and a side-by-side calculator versus Skydo.
₹4,06,381Over $1B processed • Licensed by RBI
Approved underRBI's PA-CB framework
Approved underRBI's PA-CB framework
Wise Pricing Overview
Wise's pricing has two visible components: a conversion fee (typically ~1.6-1.7% of the amount received) and a $2 e-FIRC fee per transaction. There's no FX markup, Wise applies the live mid-market rate. There are also no monthly subscriptions or setup fees.
The catch is what sits on top. The 18% GST on the conversion fee adds another layer, and because the base fee is already high, the GST bill scales with it. All-in, you're looking at roughly 2% of every USD invoice gone to Wise before the money reaches your account.
Compared to PayPal (5-8%), Wise is excellent. Compared to Skydo's flat $19 to $29 pricing, Wise costs significantly more on every $5K+ invoice, and the gap widens as your invoice sizes grow.
Wise Transfer Fees Explained
Wise's transfer fee varies by currency and route. The fee is shown transparently in the dashboard before you confirm any conversion.
Approximate fees for common currencies(live in dashboard):
FIRA charges
Wise charges $2 per FIRA. Skydo provides free instant per-transaction FIRA for all transactions.
Multi-currency hold
Wise India accounts cannot hold foreign currency long-term — funds are converted on receipt. Skydo offers multi-currency virtual accounts.
Wise Exchange Rate and FX Margin
Wise applies the live mid-market exchange rate with zero FX markup. This is genuinely better than most competitors, banks typically tack on 2-4%, PayPal closer to 3-4%. What you see on Google is what Wise uses.
Where Wise still costs you is the conversion fee on top, around 1.6-1.7% per transaction plus 18% GST. So while the FX itself is clean, the all-in cost on a $5,000 payment lands around $90 to $100, roughly ₹8,000.
For low-volume or multi-currency transfers, Wise's FX is hard to beat. For high-volume B2B receivables into India, Skydo's flat $19 to $29 pricing with the same zero-markup FX wins on total cost.
Wise Gaps and Charges to Watch For
Wise is more transparent than most platforms. The few charges to be aware of:
Per-FIRA fee
Wise charges $2 per FIRA. Skydo includes free per-transaction FIRA.
Card top-up fees
Adding funds via card to send a Wise transfer carries a card-fee surcharge.
Multi-currency hold not in India
India accounts cannot hold foreign currency long-term.
Limited eBRC support
eBRC for Indian exporters is not automated; merchants self-handle.
No GST invoicing
Wise's invoicing tool is generic, not India-GST compliant.
Bank settlement delays
Settlement to Indian bank takes 2-3 business days after conversion.
How Much Does Wise Actually Cost? (Real Example)
Let's run the same example. An Indian agency invoices a US client $5,000, with today's mid-market rate sitting at 1 USD = ₹90.
Invoice amount
$5,000.00
Breakdown
Wise — what you lose
Invoice amount
$5,000.00
Breakdown
Skydo — what you keep
Skydo is cheaper than Wise on every invoice size. The gap just gets wider as your invoices grow. Skydo's pricing stays flat ($19 up to $2K, $29 up to $10K) and drops to just 0.3% beyond that, while Wise's ~1.65% fee plus 18% GST keeps stacking up.
Over 12 monthly invoices of $5K each: Wise costs ~₹65,000/year more than Skydo for the same volume.
Wise Pricing vs Skydo Pricing
Here's a clear side-by-side of every Wise and Skydo fee, so you can see what each platform actually costs you per transaction.
Transaction fee structure
2% transfer fees
Flat $19 / $29 / 0.3%
Fee on $1,000 invoice
$20
$19
Fee on $5,000 invoice
$100
$29
Fee on $10,000 invoice
$200
$29
Fee on $50,000 invoice
$1000
$150 (0.3%)
FIRA
Available, $2.50/FIRA in some configs
Free, instant, per payment
Multi-currency hold (India)
No
Yes
Is Wise Worth the Cost for Indian Exporters?
Wise is one of the best global platforms. For Indian B2B receivables, the math depends on invoice size.
Wise is worth it when.
Your invoice volume is low and infrequent, so percentage fees don't compound. You need outward remittances under LRS for personal use (travel, education, family support). You value a globally recognised brand your overseas clients already trust.
Wise stops being worth it when.
You're receiving regular B2B invoices at any size, percentage fees compound fast. You need free instant per-transaction FIRA without a $2 charge each time. You need India-specific compliance built in, GST invoicing, automated eBRC, and clean export documentation. You want flat-fee predictability and India-based support. This is exactly where Skydo fits.
Frequently Asked Questions About Wise Pricing
What is Wise's effective cost on a typical USD → INR transfer?
Wise's effective cost for USD to INR transfers is typically ~2% of the amount sent.
Does Wise charge a forex markup?
No, Wise does not charge a forex markup. Instead, Wise uses the real mid-market exchange rate, the same rate you see on Google for currency conversions.
Are there volume discounts on Wise?
Yes, Wise offers automatic volume-based fee reductions for high-value users. Discounts typically start once your monthly transfers exceed about $25,000 (or equivalent).
What is the cheapest way to receive payments in India?
The cheapest way to receive international payments in India is generally through specialized online platforms like Skydo, Wise (formerly TransferWise) which offer exact mid-market exchange rates at a very low fee.
Does Wise provide FIRA?
Yes, Wise provides digital FIRA/e-FIRC for business payments in India, usually issued within ~3 business days. A fee of $2 is typically charged per FIRA.
Should I use Wise or Skydo?
Skydo is better for Indian exporters receiving high-value payments ($1,000+) due to flat fees, free instant FIRA, and RBI compliance. Wise is superior for freelancers and small, frequent payments under $1,000.
Stop Losing 1.6%+ on Every Wise Payment
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- Real time payment tracking and instant FIRA