Why use Wise instead of bank

Wise is often preferred over traditional banks for international transfers because it uses the mid-market exchange rate and charges transparent, lower fees compared to the hidden margins banks typically apply. Banks often add 2% to 4% to the exchange rate and levy multiple charges, making transfers more expensive. Wise is faster too, usually completing transfers in 1 to 2 business days versus the 3 to 5 days many banks take.

However, if you're an Indian exporter or freelancer receiving payments from abroad, Skydo offers a more streamlined alternative. Unlike Wise, which requires you to hold funds in a foreign currency account, Skydo lets you receive payments directly into your Indian bank account with competitive rates, zero receiving fees, and full RBI compliance. You can explore a detailed Wise overview to understand how the platforms compare for your specific cross-border payment needs.