Does Stripe convert currency

Yes, Stripe does convert currency automatically when you receive payments in a currency different from your settlement currency. Stripe supports multi-currency processing and applies its own conversion rates, which typically include a 1% markup above the wholesale exchange rate, plus standard processing fees. However, for Indian freelancers and exporters, Stripe's currency conversion can become expensive, and the platform does not offer a direct business account in India for receiving international payments.

For a more transparent and cost-effective solution, platforms like Skydo offer competitive rates with no hidden markups. Skydo is RBI-authorised and purpose-built for Indian businesses receiving cross-border payments, providing faster settlement times and clearer Stripe pricing comparisons. You retain more of your earnings with straightforward forex rates and lower fees, making it a practical alternative for regular international transactions.