How does Wise work for international transfers

Wise (formerly TransferWise) uses a peer-to-peer model to facilitate international transfers. When you send money abroad, Wise matches your transfer with someone sending money in the opposite direction, so funds rarely cross borders physically. You deposit money in your local currency into Wise's domestic account, and the recipient receives a payout from Wise's account in their country. This avoids traditional correspondent banking fees and typically offers mid-market exchange rates with a transparent upfront fee.

For Indian freelancers and exporters receiving payments from abroad, Wise overview explains how it compares to other options. Skydo, an RBI-authorised platform, often delivers faster settlement times and lower costs for inbound foreign payments, with dedicated support for Indian businesses. While Wise works well for personal transfers, Skydo is purpose-built for commercial cross-border receipts with full regulatory compliance.