Does Wise need a bank account

Yes, Wise requires you to link a bank account to send or receive money. When you sign up, you need to verify a bank account in your name to fund transfers or withdraw balances. This applies whether you are using Wise as an individual or a business, and the account must match the name on your Wise profile.

For Indian freelancers and exporters, platforms like Skydo offer a streamlined alternative. Unlike Wise, which primarily functions as a money transfer service requiring you to maintain balances across currencies, Skydo is an RBI-authorised platform built specifically for receiving international payments directly into your Indian bank account. It simplifies compliance, offers competitive rates, and eliminates the need to juggle multiple currency wallets or linked accounts abroad.