Top 5 Wise Alternatives for International Payments
Handling international payments can be challenging for freelancers and business owners. Extra fees, slow transfers, and complicated processes cut into your profits. If you've ever received money from abroad, you may have used Wise, a popular service for cross-border transfers. But Wise isn't the only option available.
In this guide, we'll explore the best Wise alternatives that can help you save money and manage international payments more efficiently. Whether you want faster transfers, lower fees, or better compliance support for Indian businesses, we've identified strong options for 2026.
What is Wise?
Wise, formerly called TransferWise, helps people and businesses send and receive money internationally. The platform is known for transparent fees and competitive exchange rates using mid-market pricing. Wise supports transfers in over 40 currencies to more than 70 countries.
In June 2025, Wise achieved a significant milestone when RBI granted in-principle approval for it to operate as a cross-border payment aggregator for exports. This strengthened its position as a trusted platform for Indian businesses. A December 2025 announcement revealed Wise is launching a multi-currency prepaid forex card for Indian users, with over 75,000 people already on the waitlist.
Though Wise works well for many users, alternatives might better suit your specific needs depending on fees, settlement speed, and compliance requirements.
Key features of Wise
Wise is well-known for keeping things clear and simple. Here are the features that users value most.
The platform uses mid-market exchange rates and shows exactly how much you'll pay upfront. SWIFT receiving fees are fixed: $6.11 for USD, €2.39 for EUR, and £2.16 for GBP. Currency conversion costs 1.6-1.8% for major currencies. An e-FIRC fee of approximately $2-2.50 applies per certificate for Indian businesses.
Transfer speeds have improved significantly, with 95% of transfers now completing within 24 hours. For transfers to India specifically, over 80% arrive within one hour when sent to UPI-linked accounts.
Indian users should note some limitations. Funds auto-convert to INR immediately without the option to hold foreign currency balances. The upcoming forex travel card supports international spending but not domestic India transactions.
Top 5 alternatives to Wise
While Wise is popular, it's not the only choice. Below are five services that might better suit your needs, each with distinct strengths for Indian businesses and freelancers.
1. Payoneer: marketplace integration leader
Payoneer is a popular choice for freelancers and businesses, especially those working in e-commerce and with international marketplaces. The platform lets you receive payments from clients worldwide and offers multi-currency accounts in seven currencies including USD, EUR, GBP, and CAD. For businesses considering switching from Payoneer, explore our Payoneer alternatives guide.
Payoneer stands out for its integration with over 2,000 platforms including Amazon, eBay, Upwork, and Fiverr. This makes it the preferred choice for marketplace sellers and platform-based freelancers who need seamless payout connections.
The fee structure includes free receiving from marketplaces in most cases, 1% for ACH bank debits, and 3.2% plus $0.49 for credit card payments. Currency conversion carries a 2-3% markup above mid-market rates. March 2025 changes introduced fees for Payoneer-to-Payoneer transfers: $4 flat for same-country and 1% for cross-country transfers.
Indian accounts face a $5,000 daily withdrawal limit and cannot access the Payoneer prepaid Mastercard. An annual fee of $29.95 applies if you receive less than $2,000 yearly. Processing takes 2-5 business days after withdrawal initiation. Free digital FIRA is provided automatically within 72 hours.
Payoneer works best for freelancers and e-commerce sellers who need broad marketplace integrations and can accept slightly higher FX costs for convenience.
2. Skydo: India-first with flat-fee simplicity
Skydo emerged as a leading India-first platform designed specifically for service exporters. The company secured $10 million Series A funding in December 2025 and now serves over 30,000 Indian exporters. It holds RBI in-principle PA-CB authorization for cross-border payments.
The fee structure uses simple flat rates with zero forex markup. Payments under $2,000 cost $19 flat. Payments between $2,001 and $10,000 cost $29 flat. Amounts above $10,000 cost just 0.3% of the payment value.
Skydo provides virtual bank accounts in the US, UK, Canada, Australia, and 10+ other countries. Clients pay into local accounts, avoiding expensive international wire fees on their end. Settlement takes 24-48 hours, and FIRA generates automatically within 24 hours at no extra cost.
The InstaLinks feature lets US clients pay via card (5% fee) or ACH (2% fee) without requiring any technical integration. GST-compliant invoicing is built into the platform. Amazon Global Selling PSP empanelment makes it ideal for e-commerce exporters.
For a $5,000 invoice, Skydo charges just $29 compared to Wise's approximately $100. This represents savings of over 70% on larger payments.
3. PayPal: global recognition with higher costs
PayPal offers a wide range of financial services and is widely used for both personal and business transactions. Its May 2025 RBI in-principle approval as a payment aggregator for cross-border exports legitimized its India operations.
The platform provides global reach in over 200 countries with support for multiple currencies. Versatile payment options allow receiving via bank accounts, credit cards, debit cards, and PayPal balance. Strong buyer and seller protection provides added security for transactions.
For receiving international payments, PayPal charges 4.4% plus a fixed fee based on currency ($0.30 USD, €0.35 EUR, £0.20 GBP). Currency conversion adds a 3-4% markup above mid-market rates. Combined, total effective costs reach 7-8% of payment amounts.
Indian PayPal accounts face restrictions: no domestic INR-to-INR payments, no foreign currency balance holding, no outbound international transfers, and a $10,000 per-transaction limit. Withdrawals take 2-5 business days. Free monthly digital FIRA is available by the 15th of the following month.
PayPal works best when clients specifically request it or when seller protection is essential. The high fees make it less economical for regular use compared to alternatives. Many users frustrated with PayPal's fees switch to other PayPal alternatives.
4. Xflow: developer-first with Stripe backing
Xflow is a Stripe-backed platform that raised $16.2 million from investors including General Catalyst, Lightspeed India, and Square Peg. It serves over 12,000 Indian businesses with a developer-first approach and JP Morgan Chase banking partnership.
The platform offers two pricing tiers. The Starter Plan costs $12 flat for payments up to $2,000, then 0.6% above. The Growth Plan costs $20 flat for payments up to $5,000, then 0.4% above. Both plans include zero forex markup using live mid-market rates.
Settlement takes just 1 business day to Indian bank accounts. One-click e-FIRA generates within 24 hours at no additional cost. The platform supports all Indian business structures including Private Limited, LLP, sole proprietorships, and partnerships.
Unique features include an FX AI Analyst that recommends optimal conversion timing, FX rate locking capability, and powerful APIs for platform integration. The Zoho Books integration makes it popular with businesses already using that ecosystem.
Xflow holds RBI in-principle PA-CB authorization and provides ISO 27001 and SOC 2 certifications for security compliance.
5. Winvesta: transparent pricing with same-day access
Winvesta stands out by offering more than just money transfers. You can receive multiple currencies while enjoying low fees and a smooth user experience. The platform's flat fee structure saves up to 75% on collection costs compared to traditional banks.
Winvesta provides multi-currency accounts supporting over 37 currencies. Local collection accounts in the US, UK, Europe, Canada, and Australia let clients pay via domestic transfers. Fast processing delivers funds on the same day in many cases, with INR typically credited within 1-3 business days.
The fee structure is straightforward: $3 plus 0.99% for receiving international payments with no hidden charges. Zero forex markup on USD transactions means you receive mid-market rates. FIRA documentation is included automatically at no extra cost.
Security features include regulation by the UK's Financial Conduct Authority and partnerships with tier-1 banks like Barclays. The platform is founded by professionals with over a decade of experience in global financial markets.
Winvesta is ideal for business owners, entrepreneurs, and freelancers who want an all-in-one solution for international payments. The combination of transparent pricing, fast settlements, and compliance documentation makes it a compelling Wise alternative.
Fee comparison table
| Platform | $2,000 invoice | $5,000 invoice | $10,000 invoice | FX markup | Settlement | Auto FIRA |
|---|---|---|---|---|---|---|
| Wise | ~$46 | ~$100 | ~$190 | 0% (mid-market) | 24 hours | $2-2.50 |
| Payoneer | ~$60-80 | ~$150-200 | ~$300-400 | 2-3% | 2-5 days | Free |
| Skydo | $19 | $29 | $29 | 0% | 24-48 hours | Free |
| PayPal | ~$160 | ~$400 | ~$725 | 3-4% | 2-5 days | Monthly |
| Xflow | $12-20 | $20 | Custom | 0% | 1 day | Free |
| Winvesta | ~$23 | ~$53 | ~$103 | 0% (USD) | 1-3 days | Included |
Choosing the right Wise alternative
Choosing the right money transfer service makes a significant difference, especially if you handle international clients or receive payments regularly. Consider these factors when evaluating alternatives.
Transaction fees and FX markup determine your actual cost. Zero markup platforms like Winvesta, Skydo, and Xflow provide significant savings over Payoneer's 2-3% or PayPal's 3-4% markups.
Settlement speed affects cash flow. Winvesta's 1-day settlements and Xflow's same-day processing beat traditional 2-5 day timelines considerably.
FIRA documentation is essential for Indian businesses. Platforms with automatic free FIRA generation eliminate manual processes and bank charges that can cost ₹500-1,000 per certificate.
Marketplace integrations matter for e-commerce sellers. Payoneer's 2,000+ platform connections make it the clear choice for that use case despite higher FX costs.
By exploring these services, you can find the one that best meets your needs and helps you save time and money on international payments.
Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute financial or legal advice. Winvesta makes no representations or warranties about the accuracy or suitability of the content and recommends consulting a professional before making any financial decisions.
Get paid globally. Keep more of it.
No FX markups. No GST. Funds in 1 day.
Handling international payments can be challenging for freelancers and business owners. Extra fees, slow transfers, and complicated processes cut into your profits. If you've ever received money from abroad, you may have used Wise, a popular service for cross-border transfers. But Wise isn't the only option available.
In this guide, we'll explore the best Wise alternatives that can help you save money and manage international payments more efficiently. Whether you want faster transfers, lower fees, or better compliance support for Indian businesses, we've identified strong options for 2026.
What is Wise?
Wise, formerly called TransferWise, helps people and businesses send and receive money internationally. The platform is known for transparent fees and competitive exchange rates using mid-market pricing. Wise supports transfers in over 40 currencies to more than 70 countries.
In June 2025, Wise achieved a significant milestone when RBI granted in-principle approval for it to operate as a cross-border payment aggregator for exports. This strengthened its position as a trusted platform for Indian businesses. A December 2025 announcement revealed Wise is launching a multi-currency prepaid forex card for Indian users, with over 75,000 people already on the waitlist.
Though Wise works well for many users, alternatives might better suit your specific needs depending on fees, settlement speed, and compliance requirements.
Key features of Wise
Wise is well-known for keeping things clear and simple. Here are the features that users value most.
The platform uses mid-market exchange rates and shows exactly how much you'll pay upfront. SWIFT receiving fees are fixed: $6.11 for USD, €2.39 for EUR, and £2.16 for GBP. Currency conversion costs 1.6-1.8% for major currencies. An e-FIRC fee of approximately $2-2.50 applies per certificate for Indian businesses.
Transfer speeds have improved significantly, with 95% of transfers now completing within 24 hours. For transfers to India specifically, over 80% arrive within one hour when sent to UPI-linked accounts.
Indian users should note some limitations. Funds auto-convert to INR immediately without the option to hold foreign currency balances. The upcoming forex travel card supports international spending but not domestic India transactions.
Top 5 alternatives to Wise
While Wise is popular, it's not the only choice. Below are five services that might better suit your needs, each with distinct strengths for Indian businesses and freelancers.
1. Payoneer: marketplace integration leader
Payoneer is a popular choice for freelancers and businesses, especially those working in e-commerce and with international marketplaces. The platform lets you receive payments from clients worldwide and offers multi-currency accounts in seven currencies including USD, EUR, GBP, and CAD. For businesses considering switching from Payoneer, explore our Payoneer alternatives guide.
Payoneer stands out for its integration with over 2,000 platforms including Amazon, eBay, Upwork, and Fiverr. This makes it the preferred choice for marketplace sellers and platform-based freelancers who need seamless payout connections.
The fee structure includes free receiving from marketplaces in most cases, 1% for ACH bank debits, and 3.2% plus $0.49 for credit card payments. Currency conversion carries a 2-3% markup above mid-market rates. March 2025 changes introduced fees for Payoneer-to-Payoneer transfers: $4 flat for same-country and 1% for cross-country transfers.
Indian accounts face a $5,000 daily withdrawal limit and cannot access the Payoneer prepaid Mastercard. An annual fee of $29.95 applies if you receive less than $2,000 yearly. Processing takes 2-5 business days after withdrawal initiation. Free digital FIRA is provided automatically within 72 hours.
Payoneer works best for freelancers and e-commerce sellers who need broad marketplace integrations and can accept slightly higher FX costs for convenience.
2. Skydo: India-first with flat-fee simplicity
Skydo emerged as a leading India-first platform designed specifically for service exporters. The company secured $10 million Series A funding in December 2025 and now serves over 30,000 Indian exporters. It holds RBI in-principle PA-CB authorization for cross-border payments.
The fee structure uses simple flat rates with zero forex markup. Payments under $2,000 cost $19 flat. Payments between $2,001 and $10,000 cost $29 flat. Amounts above $10,000 cost just 0.3% of the payment value.
Skydo provides virtual bank accounts in the US, UK, Canada, Australia, and 10+ other countries. Clients pay into local accounts, avoiding expensive international wire fees on their end. Settlement takes 24-48 hours, and FIRA generates automatically within 24 hours at no extra cost.
The InstaLinks feature lets US clients pay via card (5% fee) or ACH (2% fee) without requiring any technical integration. GST-compliant invoicing is built into the platform. Amazon Global Selling PSP empanelment makes it ideal for e-commerce exporters.
For a $5,000 invoice, Skydo charges just $29 compared to Wise's approximately $100. This represents savings of over 70% on larger payments.
3. PayPal: global recognition with higher costs
PayPal offers a wide range of financial services and is widely used for both personal and business transactions. Its May 2025 RBI in-principle approval as a payment aggregator for cross-border exports legitimized its India operations.
The platform provides global reach in over 200 countries with support for multiple currencies. Versatile payment options allow receiving via bank accounts, credit cards, debit cards, and PayPal balance. Strong buyer and seller protection provides added security for transactions.
For receiving international payments, PayPal charges 4.4% plus a fixed fee based on currency ($0.30 USD, €0.35 EUR, £0.20 GBP). Currency conversion adds a 3-4% markup above mid-market rates. Combined, total effective costs reach 7-8% of payment amounts.
Indian PayPal accounts face restrictions: no domestic INR-to-INR payments, no foreign currency balance holding, no outbound international transfers, and a $10,000 per-transaction limit. Withdrawals take 2-5 business days. Free monthly digital FIRA is available by the 15th of the following month.
PayPal works best when clients specifically request it or when seller protection is essential. The high fees make it less economical for regular use compared to alternatives. Many users frustrated with PayPal's fees switch to other PayPal alternatives.
4. Xflow: developer-first with Stripe backing
Xflow is a Stripe-backed platform that raised $16.2 million from investors including General Catalyst, Lightspeed India, and Square Peg. It serves over 12,000 Indian businesses with a developer-first approach and JP Morgan Chase banking partnership.
The platform offers two pricing tiers. The Starter Plan costs $12 flat for payments up to $2,000, then 0.6% above. The Growth Plan costs $20 flat for payments up to $5,000, then 0.4% above. Both plans include zero forex markup using live mid-market rates.
Settlement takes just 1 business day to Indian bank accounts. One-click e-FIRA generates within 24 hours at no additional cost. The platform supports all Indian business structures including Private Limited, LLP, sole proprietorships, and partnerships.
Unique features include an FX AI Analyst that recommends optimal conversion timing, FX rate locking capability, and powerful APIs for platform integration. The Zoho Books integration makes it popular with businesses already using that ecosystem.
Xflow holds RBI in-principle PA-CB authorization and provides ISO 27001 and SOC 2 certifications for security compliance.
5. Winvesta: transparent pricing with same-day access
Winvesta stands out by offering more than just money transfers. You can receive multiple currencies while enjoying low fees and a smooth user experience. The platform's flat fee structure saves up to 75% on collection costs compared to traditional banks.
Winvesta provides multi-currency accounts supporting over 37 currencies. Local collection accounts in the US, UK, Europe, Canada, and Australia let clients pay via domestic transfers. Fast processing delivers funds on the same day in many cases, with INR typically credited within 1-3 business days.
The fee structure is straightforward: $3 plus 0.99% for receiving international payments with no hidden charges. Zero forex markup on USD transactions means you receive mid-market rates. FIRA documentation is included automatically at no extra cost.
Security features include regulation by the UK's Financial Conduct Authority and partnerships with tier-1 banks like Barclays. The platform is founded by professionals with over a decade of experience in global financial markets.
Winvesta is ideal for business owners, entrepreneurs, and freelancers who want an all-in-one solution for international payments. The combination of transparent pricing, fast settlements, and compliance documentation makes it a compelling Wise alternative.
Fee comparison table
| Platform | $2,000 invoice | $5,000 invoice | $10,000 invoice | FX markup | Settlement | Auto FIRA |
|---|---|---|---|---|---|---|
| Wise | ~$46 | ~$100 | ~$190 | 0% (mid-market) | 24 hours | $2-2.50 |
| Payoneer | ~$60-80 | ~$150-200 | ~$300-400 | 2-3% | 2-5 days | Free |
| Skydo | $19 | $29 | $29 | 0% | 24-48 hours | Free |
| PayPal | ~$160 | ~$400 | ~$725 | 3-4% | 2-5 days | Monthly |
| Xflow | $12-20 | $20 | Custom | 0% | 1 day | Free |
| Winvesta | ~$23 | ~$53 | ~$103 | 0% (USD) | 1-3 days | Included |
Choosing the right Wise alternative
Choosing the right money transfer service makes a significant difference, especially if you handle international clients or receive payments regularly. Consider these factors when evaluating alternatives.
Transaction fees and FX markup determine your actual cost. Zero markup platforms like Winvesta, Skydo, and Xflow provide significant savings over Payoneer's 2-3% or PayPal's 3-4% markups.
Settlement speed affects cash flow. Winvesta's 1-day settlements and Xflow's same-day processing beat traditional 2-5 day timelines considerably.
FIRA documentation is essential for Indian businesses. Platforms with automatic free FIRA generation eliminate manual processes and bank charges that can cost ₹500-1,000 per certificate.
Marketplace integrations matter for e-commerce sellers. Payoneer's 2,000+ platform connections make it the clear choice for that use case despite higher FX costs.
By exploring these services, you can find the one that best meets your needs and helps you save time and money on international payments.
Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute financial or legal advice. Winvesta makes no representations or warranties about the accuracy or suitability of the content and recommends consulting a professional before making any financial decisions.
Get paid globally. Keep more of it.
No FX markups. No GST. Funds in 1 day.