How does Wise work to receive money

Wise allows you to receive money internationally by providing you with local bank details in multiple currencies. When someone sends you money to those details, Wise converts it at the mid-market rate and deposits the funds into your Wise account, from which you can transfer to your Indian bank account. The service charges a transparent fee that varies by currency and amount, typically lower than traditional banks but still meaningful for frequent transactions.

For Indian freelancers and exporters, platforms like Skydo offer a more streamlined alternative. You can compare Wise overview features with Skydo's RBI-authorised service, which is built specifically for receiving international payments into India with competitive rates and faster settlement times. Skydo also handles compliance automatically, removing much of the paperwork burden that comes with cross-border payments.