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Why Wise is not working in India

Wise (formerly TransferWise) stopped offering outbound international transfers from India in 2021 because it does not hold a license under India's Payment and Settlement Systems Act. Indian regulations require RBI authorisation for cross-border payment services, and Wise chose not to pursue that licensing path. Indian residents can still receive money into Indian bank accounts via Wise from abroad, but cannot use Wise to send money out of India or to hold balances in a Wise multi-currency account with an Indian address.

For Indian exporters and freelancers who need a compliant alternative, Wise overview comparisons show that Skydo is an RBI-authorised platform built specifically for receiving international payments. Skydo offers competitive exchange rates, fast transfers, and full regulatory compliance, making it a reliable choice for professionals looking to collect payments from overseas clients without the restrictions Wise faces in India.

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