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For Indian businesses, freelancers, and exporters, receiving international payments can often be a hassle due to high fees, slow processing times, and complex compliance requirements. Fortunately, several platforms are now simplifying cross-border payments, offering competitive rates, fast transfers, and seamless compliance solutions. Here’s a list of the top 10 platforms for inward payment remittance in India:
10. Skydo
Best for Indian SMBs and Freelancers
What it offers: Virtual accounts in multiple currencies (USD, GBP, EUR, etc.) for receiving international payments.
Key features:
- Instant FIRC (Foreign Inward Remittance Certificate) issuance.
- Flat fees (e.g., $19 for transfers up to USD2000).
- Integration with Amazon for seamless withdrawals.
Why choose Skydo? Saves up to ₹8–10 lakh annually compared to traditional banks or platforms like PayPal.
09. Wise (formerly TransferWise)
Best for Transparent Pricing
What it offers: Multi-currency accounts for businesses and freelancers.
Key features:
- Mid-market exchange rates with low, transparent fees.
- Local account details in 8 currencies.
- Automatic FIRC issuance.
Why choose Wise? Cost-effective and fast transfers, with funds typically arriving in under 24 hours.
Website: wise.com
08. Salt.pe
Best for Startups and Freelancers
What it offers: Virtual foreign currency accounts in 7 currencies.
Key features:
- Charges 1.75% of the transfer amount, including FIRC.
- Simplified verification process.
Why choose Salt.pe? Backed by Y-Combinator and compliant with RBI regulations.
07. Payoneer
Best for Global Marketplaces
What it offers: Multi-currency accounts in 9 currencies.
Key features:
- Transaction fees of 1–3% for receiving payments.
- Withdrawal fees of up to 2% for INR transfers.
Why choose Payoneer? Widely used for platforms like Amazon, Upwork, and Fiverr.
06. Instarem
Best for Low-Cost Transfers
What it offers: Digital cross-border money transfer services.
Key features:
- Close-to-mid-market exchange rates.
- Loyalty program for regular customers.
Why choose Instarem? Competitive fees and fast processing.
05. PingPong
Best for E-commerce Sellers
What it offers: Receiving payments in 12 currencies.
Key features:
- Charges 1% fee for INR withdrawals.
- Compliance with RBI regulations.
Why choose PingPong? Low fees and support for multiple currencies.
04. Winvesta
Best for Freelancers
What it offers: Local account details in 4 foreign currencies.
Key features:
- Transfer fee of 0.99% (minimum $2.5) for INR withdrawals.
- Easy onboarding process.
Why choose Winvesta? Transparent pricing and fast processing.
03. Remit2India
Best for NRIs
What it offers: Remittance services with guaranteed or market-based exchange rates.
Key features:
- No hidden fees; upfront pricing.
- Supports large transfers (up to £200,000).
Why choose Remit2India? Trusted by NRIs for large transfers.
02. WorldRemit
Best for Quick Transfers
What it offers: Money transfers to India from over 50 countries.
Key features:
- Upfront fees with promotional offers.
- Supports bank transfers, cash pickups, and mobile wallet deposits.
Why choose WorldRemit? Fast service and wide reach.
01. ICICI Bank (Money2India)
Best for NRIs and Large Businesses
What it offers: NRI-focused remittance services.
Key features:
- Supports transfers in 26 currencies.
- Competitive exchange rates and low fees.
Why choose ICICI Bank? Trusted banking partner with a strong global network.
Comparison Table
| Platform | Best For | Key Features | Fees |
|---|---|---|---|
| Skydo | SMBs, freelancers | Instant FIRC, flat fees, Amazon integration | $19 for ≤2,000 |
| Wise | Transparent pricing | Mid-market rates, multi-currency accounts, automatic FIRC | Low, transparent fees |
| Salt.pe | Startups, freelancers | Virtual accounts in 7 currencies, 1.75% fee including FIRC | 1.75% of transfer amount |
| Payoneer | Global marketplaces | Multi-currency accounts, global marketplace support | 1–3% transaction fee |
| Instarem | Low-cost transfers | Close-to-mid-market rates, loyalty program | Competitive fees |
| PingPong | E-commerce sellers | 12 currencies, 1% withdrawal fee | 1% withdrawal fee |
| Winvesta | Freelancers | 4 currencies, 0.99% transfer fee | 0.99% (min $2.5) |
| Remit2India | NRIs | Guaranteed rates, large transfer support | No hidden fees |
| WorldRemit | Quick transfers | Wide reach, promotional offers | Upfront fees |
| ICICI Bank | NRIs, large businesses | Money2India platform, 26 currencies | Competitive rates |
Unique Selling Prepositions (USPs) for Each of these Platforms
These USPs highlight the strengths of each platform, making it easier to choose the best option based on specific needs.
| Company | USPs |
|---|---|
| Skydo | Zero FX margin, instant FIRA, flat fees, seamless integration, real-time tracking |
| Wise | Mid-market rates, multi-currency accounts, transparent fees, fast transfers, FIRC issuance |
| Salt.pe | Low fees (1.75%), virtual accounts, simplified verification, RBI compliance |
| Payoneer | Global marketplace integration, multi-currency accounts, wide reach, transaction tracking |
| Instarem | Low-cost transfers, loyalty program, fast processing, user-friendly platform |
| PingPong | E-commerce focus, low withdrawal fees (1%), compliance support, multi-currency support |
| Winvesta | Low transfer fees (0.99%), multi-currency accounts, easy onboarding, RBI compliance |
| Remit2India | Guaranteed exchange rates, wide reach, low fees, 24/7 support |
| ICICI Bank | Trusted banking partner, multi-currency support, competitive rates, FIRC issuance |
| WorldRemit | Fast transfers, wide coverage, low fees, multiple payout options |
Final Thoughts
Choosing the right platform depends on your specific needs:
- Freelancers and SMBs: Skydo, Wise, and Salt.pe offer low fees and seamless compliance.
- E-commerce sellers: Payoneer and PingPong are ideal for marketplace integrations.
- NRIs: Remit2India and ICICI Bank provide reliable and cost-effective solutions.
With these platforms, receiving international payments has never been easier. Evaluate your requirements, compare fees, and pick the best suits your business!
Got questions? Drop them in the comments below, and we’ll help you choose the perfect platform for your needs!
