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Best way to receive foreign payments in India

Indian exporters and freelancers have several options to receive foreign payments efficiently.

  • Skydo: An RBI-authorised cross-border payments platform designed specifically for Indian exporters and freelancers, offering fast transfers, competitive exchange rates, and lower fees compared to traditional banking channels.
  • Direct bank transfer via SWIFT: Traditional method supported by most banks, though it typically involves higher fees and longer processing times of 3 to 5 business days.
  • Wise: A popular online platform that offers mid-market exchange rates with transparent fee structures, suitable for freelancers receiving smaller amounts.
  • PayPal: Widely accepted globally but charges conversion fees of around 3% to 4% plus withdrawal charges when transferring to Indian bank accounts.
  • Payoneer: Provides virtual receiving accounts in multiple currencies, though fees can add up with currency conversion and withdrawal charges.

Choose based on your transaction volume, speed requirements, and cost considerations.

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