Wise fees vs Skydo fees

Wise uses a percentage-based fee model for international transfers, while Skydo operates on a flat-fee model. Both offer the live mid-market exchange rate with zero forex markup.

Wise Fees: Wise's fee structure includes a conversion fee of about 1.6% to 1.8% of the transferred amount, an additional 18% GST on the conversion fee, and approximately $2.50 for the e-FIRC (Foreign Inward Remittance Certificate). There's a cap of $10,000 per transaction for Indian business transfers.

Skydo Fees: Skydo charges a flat fee of $19 for invoices up to $2,000, $29 for invoices up to $10,000, and 0.3% for amounts exceeding $10,000. They also provide free and automatic FIRA generation and have no transaction size limits.

For transactions under $1,000, Wise and Skydo cost roughly the same, but for amounts over $1,000, Skydo is generally cheaper due to its flat fee structure.