Best Revolut Alternatives for Borderless Banking & Business Payments

If you work with international clients, chances are that you've heard someone say, "Can I pay you through Revolut?". The app is hugely popular across Europe and the UK, and many overseas customers already use it for instant peer-to-peer transfers and low-fee currency exchanges. Naturally, as an Indian business, you may have looked it up, assuming you can use Revolut to receive global payments.

However, the catch is that Indian businesses cannot use Revolut the way European or UK businesses can. Revolut's globally known features like its multi-currency accounts, business IBANs, corporate cards, and API powered payouts are not available to businesses registered in India. So, while your European clients may send money from their Revolut accounts, you cannot receive it into Revolut, nor can you rely on Revolut as a business payment solution.

This means if you want to grow globally, you must look at Revolut alternatives that actually support inbound payments to India, comply with RBI/FEMA regulations, and offer fair FX rates.

Revolut is a neo-bank or a challenger bank that offers digital banking, multi-currency accounts and several international payment services. In Europe, it operates as a licensed bank, providing IBAN accounts, corporate banking, and advanced business tools. In India, however, Revolut functions very differently because it does not have permission to operate as a bank.

Revolut's regulatory status in India

Revolut currently operates through:

• A Prepaid Payment Instrument (PPI) licence.
• An Authorised Dealer Category II (AD II) forex licence.

The licences in India allow Revolut to offer consumer-facing prepaid cards, multi-currency wallets, and some forex services, but not full-fledged business banking. 

What Revolut offers in India

In India, Revolut's offerings are retail-focused. These include:  

1. Multi-currency wallet
2. Prepaid card
3. International spending
4. UPI integration
5. Forex card-type services
6. Budgeting / personal finance tools

Revolut is designed primarily for the European consumer market, and its business products are limited to countries where Revolut has banking authorisation or EMI licences. Since India-registered companies cannot use Revolut Business, there is no way to receive global payments, manage foreign currency balances, or settle invoices through the platform.

This means your business would have to look for an alternative that: 

• Actually support inward remittances into India
• Offer local receiving accounts in USD, GBP, EUR, etc.
• Provide lower FX markup and transparent pricing.

If you want to scale globally, you need a platform that actually works for India-registered businesses. Before selecting a Revolut alternative, evaluate how well it meets these needs.

Here are the key criteria to look for:

1. Local receiving accounts (USD, GBP, EUR, etc.) for accepting client payments.
2. Support for low-cost bank transfers, not just card payments.
3. Real mid-market FX rates with minimal or zero markup.
4. Transparent and predictable fee structure.
5. RBI & FEMA-compliant process and automated FIRA/FIRS.
6. Fast INR settlement to your Indian bank.
7. Multi-currency balance holding (if allowed).
8. Compatibility with your existing invoicing or payout systems.
9. Strong fraud protection and global coverage.
10. A platform that supports India-registered businesses natively

Here's a quick look at some of the best Revolut alternatives:

1. Xflow 

Xflow is a cross-border payment collection platform built specifically for India-registered businesses, freelancers, and exporters who need a simple, compliant, and cost-effective way to receive payments from international clients.

Unlike Revolut, which is consumer-focused in India, Xflow is designed to solve India's biggest challenges in global payments: high FX markup, slow settlements, and complicated RBI/FEMA documentation.

Key Features

1. Local receiving accounts in major currencies (USD, EUR, GBP, etc.).
2. Real-time mid-market–linked FX rate with zero FX markup.
3. AI FX Analyst to track target rates and optimise conversion.
4. Guaranteed FX rate at the moment of withdrawal.
5. One-click automated eFIRA/FIRS generation for RBI cEurozone.
6. Next-business-day INR settlement to your Indian bank account.
7. Transparent, predictable fees (flat + percentage).
8. Supports large invoice amounts with no arbitrary limits.
9. Integrates with accounting tools like Zoho Books.

Pros of Xflow 

• Xflow is purpose-built for Indian exporters and is fully compliant with RBI and FEMA. 
• The zero FX markup and lower fee structure offer massive cost savings. 
• You get faster receivables with T+1 settlement. 

Pricing 

Xflow uses a transparent flat-fee + percentage model, depending on invoice size.

Typical structure looks like:

• $12 flat fee for small invoices (e.g., up to ~$2,000)
• 0.6% on the remaining amount for mid-sized invoices

Rating: 4.9/5 on G2

Want a smoother, cheaper way to receive payments from your global clients? Try Xflow and get paid faster at real FX rates! 

2. Wise 

Wise is a good Revolut alternative for Indian businesses because it offers real mid-market FX rates and local receiving accounts that allow clients abroad to pay you via inexpensive local bank transfers. It offers FX transparency and low-cost inward remittance for freelancers and small businesses.

Key Features

• Local receiving accounts in USD, EUR, GBP, AUD, etc.
• Real mid-market FX with no hidden markup.
• Automated FIRC/eFIRA via partner banks.

Pros 

• True mid-market rate ensures lower FX losses.
• Easy setup, no monthly fees for basic accounts.
• Excellent for freelancers and small exporters.

Cons

• Outbound transfers from India are limited by regulation.
• No advanced business banking tools.
• Not ideal for teams requiring corporate cards or expense management.

Pricing

Wise charges a variable percentage-based fee on each conversion and a small fixed fee on certain incoming transfers.

Rating: 3.9/5 on G2

3. Airwallex 

Airwallex is a multi-currency wallet platform built for businesses that manage global operations and need a single interface for international accounts, payments, and card-based spending. It is best suited for larger companies handling global transactions across multiple regions.

Key Features

1. Multi-currency wallets for holding and converting.
2. International payment acceptance tools.
3. FX conversion with disclosed markup.
4. Virtual cards and team spend controls.
5. API-driven workflows for finance teams.

Pros

• Useful for businesses operating across multiple markets
• Strong financial infrastructure for multi-entity operations
• Offers a broad currency and regional footprint

Cons

• Pricing can be complex for smaller businesses.
• Requires higher transaction volumes to be cost-efficient.
• Not optimized for fast, low-cost inward remittances into India, the way India-focused platforms are.

Pricing 

Airwallex applies a markup over the interbank FX rate and charges additional fees for certain transfers and payment acceptance.

Rating: 4.5/5 on G2 

4. N26

N26 is a European digital bank designed for day-to-day personal and business banking within the Eurozone. It is not available to India-registered businesses, however, it is one of the most popular Revolut competitors in the market. 

Key Features

1. Mobile-first Euro banking
2. Deposit-protected accounts within the EU
3. Integrated budgeting and spending tools
4. Card-based payment features

Pros

• Clean digital banking experience for Europe-based users.
• Simple interface for managing Euro payments.

Cons

• Not available to Indian businesses.
• Limited to Euro accounts with no multi-currency flexibility.
• No RBI-compliant documentation or ability to receive global payments into India.

Pricing 

N26 pricing varies by account tier, with monthly subscription charges for premium plans.  

Rating: 3.6/5 on G2

5. Monzo

Monzo is a UK-based digital bank designed for local residents and UK-registered small businesses. Its strengths lie in simple domestic banking and real-time app features, but it is not accessible to Indian businesses or individuals who want to receive payments from global clients.

Key Features

1. Euro-zone-based UK current account.
2. Instant spend notifications.
3. Basic budgeting and cash-flow tools.
4. FSCS-protected deposits for UK users.

Pros

• Clean mobile banking experience for UK residents.
• Strong budgeting and domestic spending tools.
• Full UK banking protections.

Cons

• Not available to Indian businesses.
• Cannot assist with inward remittances into India.
• No multi-currency receiving accounts.
• No RBI-compliant export documentation like FIRC/eFIRA.

Pricing 

Monzo's plans (Free, Pro, and Plus tiers) apply only to UK-registered businesses and individuals.

Rating: 4.6/5 on Apple App Store

6. Chime

Chime is a US-based fintech app focused on fee-free consumer banking. It operates entirely within the United States and does not offer business accounts or global receiving capabilities for companies outside the US. Indian businesses cannot use Chime to receive international payments.

Key Features

1. Fee-free US checking account.
2. Early direct deposit functionality.
3. No overdraft fees.
4. Automatic savings tools

Pros

• Useful for US-based individuals seeking a simple, low-fee banking experience.
• Strong financial wellness and spending tools.

Cons

• Not available to Indian residents or businesses.
• No global payment or multi-currency capability.

Pricing 

Chime markets itself as a fee-free consumer account, with no monthly or overdraft fees. 

Rating: 4.3/5 on G2

7. Payoneer

Payoneer is a long-established global payments platform built for freelancers, marketplace sellers, and remote teams receiving money from international platforms. Its strongest value lies in its deep integrations with global marketplaces such as Amazon, Upwork, and Fiverr, something Revolut does not offer. 

Key Features

1. Multi-currency receiving accounts (USD, EUR, GBP and more).
2. Fast transfers from global marketplaces.
3. Payouts to international contractors.
4. Digital FIRA/FIRS for compliance
5. Simple onboarding and wallet-based interface

Pros

• Excellent for marketplace earnings and mass payouts.
• Easy for global clients to pay using local bank transfers.
• Provides compliance documents needed in India.

Cons

• 2%-3% FX markup on INR withdrawals.
• 1% fee for receiving USD via local receiving account.
• Not optimised for B2B invoice collections.
• No debit card available in India.

Pricing

Payoneer applies a 1% fee when receiving USD through local bank details and charges a 2–3% FX markup when withdrawing to an INR bank account.

Rating: 3.2/5 on G2

8. Finom

Finom is a European digital business banking platform that combines invoicing, accounting tools, and multi-currency business banking into a single interface. While it is a popular Revolut competitor in the EU, it is not available for Indian residents or India-registered companies.

Key Features

1. European IBAN business accounts.
2. Built-in invoicing and expense management.
3. Multi-bank account aggregation.
4. Accounting integrations.

Pros

• Useful all-in-one solution for European freelancers and SMBs.
• Integrated finance and invoicing suite.
• Multiple EU IBAN options.

Cons

• Not accessible to Indian businesses.
• Cannot generate RBI-compliant FIRC/eFIRA.

Pricing 

Finom charges monthly subscription fees for its European tiers (Solo, Start, Premium, Corporate), which apply only to EU businesses.

Rating: Unavailable at the moment 

9. Stripe 

Stripe is a leading global payment infrastructure platform designed for online businesses that need to accept card payments, run subscriptions, or build custom payment flows. For Indian businesses, Stripe functions primarily as a payment gateway, not a cross-border collection tool, and international card processing can be expensive.

Key Features

1. Accept international cards on websites & apps.
2. Subscription billing and recurring payments.
3. Advanced developer APIs.
4. Global payment method support (100+ methods)

Pros

• Excellent for SaaS, e-commerce, and subscription billing.
• Best-in-class API for custom payment flows.
• Global reach with a strong developer ecosystem.

Cons

• Very expensive for receiving international payments.
• 4.3% card processing fee and 2% FX conversion fee.
• No automated FIRA/eFIRA for India.

Pricing

Stripe charges percentage-based fees on each international card payment and typically adds a 2% FX markup when converting funds into INR. This often results in an effective cost of 5-6% per transaction.

Rating: 4.3 / 5 on G2

10. Skydo

Skydo is an India-focused cross-border payment platform designed to simplify global collections for freelancers and small businesses. It offers transparent flat-fee pricing, automated compliance documents, and mid-market FX rates without markup.

Key Features

1. Multi-currency receiving accounts with zero FX markup.
2. Automated FIRA/eBRC document generation.
3. Flat-fee pricing tiers.
4. Simple onboarding suited for freelancers and SMBs.
5. Local bank transfer rails for clients.

Pros

• Very predictable flat-fee structure.
• Fast INR settlement with automated compliance.
• Mid-market FX rate without hidden spreads.

Cons

• Flat fees can become expensive for small invoices.
• No AI FX optimisation features.
• Fewer advanced payment rails compared with specialised platforms.

Pricing

Skydo uses a tiered flat-fee model, which applies a fixed fee for smaller invoices and a low percentage charge for amounts above USD 10,000. 

Rating: 3.8/5 on Trustpilot

If you've come across Revolut, it's usually because a client or partner abroad uses it or because you've seen it recommended for travel. Revolut is excellent for international spending, budgeting, and travel, but it doesn't offer the cross-border collection capabilities Indian businesses need. Its India launch is retail-focused, and Revolut Business is not available for India-registered companies.

For travel or remote work, tools like Revolut, Wise, and Monzo help you spend internationally with low fees. For day-to-day global lifestyle use, these apps are convenient because they offer multi-currency cards, clean UIs, and budgeting tools.

For global payments, however, the priority is very different. As an Indian business, you need:

1. Predictable FX rates.
2. Local receiving accounts for your clients.
3. RBI & FEMA compliance (FIRA/FIRC).
4. Fast INR settlements.
5. Transparent pricing.

This is where a specialised platform like Xflow clearly stands out. Xflow is built for export-focused Indian businesses and freelancers who need an easier way to receive international payments without losing money to FX markup or slow settlement timelines.

If you're in search of a platform that helps your business receive payments from abroad quickly, cost-effectively, and with full RBI compliance, Xflow is the strongest choice. While global neobanks and digital wallets offer travel cards and personal finance features, they don't meet the operational needs of Indian exporters like fast settlements, transparent FX, automated compliance, and local collection rails.

Xflow solves these gaps end-to-end. You get mid-market FX rates with zero markup, faster INR payouts, and local receiving accounts that make it easier for your clients to pay. You also avoid the paperwork burden because Xflow automatically generates your FIRA/eFIRA documents. 

For any Indian freelancer, agency, SaaS business, or service exporter looking to improve margins and cash flow, Xflow is built to maximise your final INR receipt and not reduce it with hidden charges.

Start receiving global payments the smarter way,  try Xflow today!