Skydo vs Wise vs Razorpay (2026): which is cheapest for Indian freelancers?
Skydo, Wise and Razorpay's MoneySaver Export Account compared for getting paid from abroad: fees, exchange rates, FIRA, payout speed, who can sign up, and what you keep on invoices from $300 to $10,000.
Short answer
For an Indian freelancer, the cheapest of the three depends on the invoice size. With fees checked on 2 October 2026, Wise usually keeps the most below about $500, Razorpay MoneySaver from about $500 to $3,000, and Skydo above that. All three convert at the live mid-market rate and issue a FIRA. PayPal, for comparison, costs about 8% at any size.
In this article
Skydo, Wise and Razorpay's MoneySaver Export Account all do the same basic job: your client abroad pays into a local account in their currency, and you get rupees in your Indian bank account with a FIRA to prove it was an export. All three convert at the live mid-market rate, with no markup hidden in the exchange rate. The difference is how they charge, and that decides which one keeps the most of your invoice.
Every fee below comes from each provider's own page, checked on 2 October 2026, except where we say otherwise. Fees change, so open the provider's page before you choose. This page contains no affiliate links.
The three at a glance
| Skydo | Wise | Razorpay MoneySaver | |
|---|---|---|---|
| Fee | Flat: $19 up to $2,000, $29 from $2,001 to $10,000, 0.3% above $10,000 | Conversion fee that varies by currency, plus a charge for each eFIRC (see below) | 1% for bank transfers, with a flat ₹1,000 on payments below ₹1,00,000; 2% for US ACH payment links |
| Exchange rate | Live mid-market, no markup | Mid-market | Live rate, no markup |
| FIRA | Free and instant, for every payment | eFIRC emailed for every transfer | Generated automatically within 24 hours of settlement |
| Money reaches your bank | Within 24 hours | Under 90 minutes in business hours, Wise says | 1 day for bank transfers |
| Local account details | US, UK, EU, Canada, Australia; other countries by SWIFT | USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF | USD, GBP, EUR |
| Who can sign up | Indian freelancers and exporters | Freelancers on their personal PAN, sole proprietors with a GSTIN or IEC, and companies | Freelancers and exporters |
Add 18% GST to every fee in the table.
What you actually keep
Calculated with the fees above, an illustrative rate of ₹90 per US dollar, and 18% GST on fees. The percentage is the total cost compared with converting at the mid-market rate.
| You invoice | At mid-market | Skydo | Wise | Razorpay | PayPal |
|---|---|---|---|---|---|
| $300 | ₹27,000 | ₹24,982 (7.5%) | ₹26,193 (3.0%) | ₹25,820 (4.4%) | ₹24,793 (8.2%) |
| $1,000 | ₹90,000 | ₹87,982 (2.2%) | ₹87,929 (2.3%) | ₹88,820 (1.3%) | ₹82,715 (8.1%) |
| $2,500 | ₹2,25,000 | ₹2,21,920 (1.4%) | ₹2,20,221 (2.1%) | ₹2,22,345 (1.2%) | ₹2,06,834 (8.1%) |
| $5,000 | ₹4,50,000 | ₹4,46,920 (0.7%) | ₹4,40,708 (2.1%) | ₹4,44,690 (1.2%) | ₹4,13,699 (8.1%) |
| $10,000 | ₹9,00,000 | ₹8,96,920 (0.3%) | ₹8,81,681 (2.0%) | ₹8,89,380 (1.2%) | ₹8,27,429 (8.1%) |
PayPal is in the table as a baseline, because many clients still offer it first. Its 4.40% fee plus a 3% markup on the exchange rate costs about 8% at every size.
Which is cheapest, by invoice size
With these fees, the cheapest option changes as invoices grow:
- Up to about $500: Wise. A small percentage fee beats Skydo's $19 and Razorpay's ₹1,000 minimum, which weigh heavily on small amounts.
- About $500 to $3,000: Razorpay MoneySaver. Its 1% plus GST is about 1.2% once a payment reaches ₹1 lakh. Skydo is level with it, or slightly ahead, just under $2,000, while its $19 fee still applies.
- Above about $3,000: Skydo. Its flat fee shrinks as a share of the invoice: $29 is under 1% of a $5,000 invoice, and above $10,000 it charges 0.3%.
If your invoices vary a lot, pick the provider that wins at your typical invoice. Using one provider keeps your records, FIRAs and tax filing simple.
Beyond the fee
- FIRA without asking. All three issue a FIRA for each payment. Skydo's is free and instant; Razorpay generates one within a day of settlement; Wise emails an eFIRC and charges for it. You need these as proof of export income, so download every one.
- Speed. Wise says money arrives in under 90 minutes in business hours. Skydo settles within 24 hours and Razorpay in one day.
- Clients outside the main currencies. Wise gives you account details in the most currencies of the three. Skydo covers five regions with local details and takes SWIFT from elsewhere.
- Clients in the US who'd rather pay by link. Razorpay's payment links take US ACH payments, at 2%.
- Signing up without GST. Wise accepts freelancers on a personal PAN, and asks sole proprietors for a GSTIN or IEC. GST registration only becomes compulsory once your turnover crosses ₹20 lakh a year (₹10 lakh in some special-category states); our guide to getting paid from abroad covers that, purpose codes and income tax.
Our pick
- Small, frequent invoices (under $500): Wise.
- Steady mid-sized invoices ($500 to $3,000), or you already use Razorpay: Razorpay MoneySaver.
- Large invoices (over $3,000) and you want the FIRA handled for you: Skydo.
Whichever you choose, set the right purpose code once when you sign up, and keep each invoice with its FIRA in a folder for the financial year.
Sources (checked )
- Skydo: receive international payments in India (pricing, FIRA, settlement)
- Wise: receive international payments in India
- Wise help: verifying your Indian business to receive payments
- Wise India: pricing for businesses receiving money
- Razorpay MoneySaver Export Account (fees, settlement, FIRA)
- PayPal India merchant fees
Go deeper
Free PDF
How to Get Paid by Foreign Clients in India (2026)
What PayPal, Wise, Skydo and Razorpay actually cost an Indian freelancer, what you keep on a real invoice, and the paperwork you need: FIRA, purpose codes, GST and income tax basics.