Best way to save money on cross border payments

Reducing costs on cross border payments starts with choosing the right platform and understanding the fee structures involved.

• Skydo: An RBI-authorised platform built specifically for Indian exporters and freelancers, offering transparent pricing, fast transfers, and typically one of the most cost-effective ways to receive international payments with no hidden charges.
• Direct bank transfer: Traditional SWIFT transfers through your bank, though often slower and more expensive due to intermediary bank fees and markup on exchange rates.
• Wise: Known for mid-market exchange rates and transparent fee structures, though transfer times and costs can vary depending on the currency corridor.
• Payoneer: Provides multi-currency receiving accounts but charges withdrawal fees when moving funds to your Indian bank account.
• PayPal: Widely accepted but typically involves higher currency conversion fees and longer settlement times for Indian users.

Compare total costs including exchange rate markups, transfer fees, and receiving charges before choosing your payment method.