Skydo vs Wise: A Complete Comparison for Indian Users

For Indian service providers and exporters, having the right international payment partner can make all the difference. It can save money, accelerate transfer speed, simplify business operations within the regulations, and make everything easier to handle.

Skydo and Wise are two leading international payment platforms. Wise (formerly TransferWise) is popular for its global coverage, multi-currency wallets, and competitive currency conversion rates. Skydo, on the other hand, is built for Indian businesses. It offers INR pay-outs, a flat fee system, and end-to-end compliance with Indian regulations.

In this article, we’ll break down Skydo vs Wise to help make an informed decision regarding global payments.

• Skydo offers a flat-fee structure (e.g., $19, $29, or 0.30% of larger transactions), no foreign exchange markup, and a free and instant FIRA. Whereas, Wise charges 1.6–1.9% along with a $2.50 fee per FIRA, making Skydo more economical for cases where B2B cross-border payments are high-valued.

• Wise is suitable when you send or receive payments less than $1,000, especially for freelancers and small businesses. Its fee structure is calculated as a percentage, and global multi-currency accounts with wallets are available. Wise's tools are flexible, which makes it easy to operate multiple low-value transfers frequently across international borders.

• Meanwhile, Skydo is RBI-compliant, offers instant FIRA for free, and supports unlimited invoice sizes, making it ideal for Indian exporters and businesses. However, Wise limits transactions up to $10,000 and adds a fee to FIRA, which makes it less desirable for higher payments.

Skydo is an international payment platform for Indian businesses. It makes international transfers affordable and quicker, without the hassle of compliance. It offers secure and efficient tools for smoother B2B cross-border payments, making it easier to work with overseas clients. Some services that Skydo offers include:

Global virtual accounts

Receives money in currencies like USD, EUR, GBP, AUD, CAD, etc, with minimal errors using bank details.

INR settlements

Payments are automatically converted into Indian Rupees in real-time and sent straight to an Indian business bank account.

Flat, transparent pricing

No forex markups, ambiguous transaction fees and hidden charges, just a flat fee for each transaction.

Free instant FIRA

Automatically generates FIRA within 24 hours at no extra cost.

Integrated invoicing & accounting

Generate GST-compliant invoices, track payments, and manage accounts in one place.

RBI & ISO compliant

Skydo is fully compliant under RBI’s PA-CB rules and is ISO 27001:2022 certified, ensuring regulatory compliance (FEMA, RBI, KYC).

India-based customer support and dispute resolution

Dedicated local assistance for smooth onboarding and ongoing help.

Wise (formerly known as TransferWise) is a global payment service that was founded in the UK in 2011. It began as a peer-to-peer money transfer company, but now people can send, receive, and store money in multi-currency accounts, all in one location.

It simplifies global finance and makes it more versatile. Wise excels with its transparency, simplicity, and exchange rates, all presented in a seamless, welcoming user experience and interface. Some features that Wise offers include:

Multiple currency account

It allows you to hold over 40+ currencies and receive money via local bank details in major currencies like USD, EUR, and GBP.

Transparent pricing

Wise uses the real mid-market exchange rate and charges a fixed and variable fee. FIRA is available at around $2.50 per transaction.

Fast & flexible transfers

Most payments land in your bank account within 24 hours. Wise is a solid choice for both B2B (business-to-business) and P2P (person-to-person) transfers as it handles both smoothly.

User experience and interface

A simple, intuitive interface is available on the web and mobile for easy global transfers.

Secure and regulated

In India, Wise is regulated by the RBI, and in the UK, the FCA. Additionally, it employs robust security measures to safeguard your business funds.

When selecting a payment partner, Indian businesses should consider factors such as pricing, support, transaction limits, and compliance requirements. Skydo and Wise handle global payments well, but their features and fees differ. 

Here’s a quick head-to-head comparison to help you decide which one fits your needs better:

Here are some essential reasons why Indian businesses, freelancers, and exporters might choose Skydo over Wise to get payments from other countries:

More cost-effective for bigger payments

Skydo’s flat fee model is $19, $29, or just 0.3% for larger amounts, thus keeping things affordable, especially for payments over $2,000. In contrast, with Wise’s percentage-based fee, costs can increase as volumes rise.

Instant and free FIRA with every transaction

Skydo includes FIRA automatically and at no extra cost. Conversely, Wise charges around $2.50 per FIRA, which can add up to the cost and slow things down.

India-based support and RBI authorization

Skydo is built in India for Indian businesses. The RBI’s PA-CB approval backs it and offers India-based customer support and dispute resolution. It is ideal for business services like onboarding, compliance, or issue resolution.

Business-friendly features

From global virtual accounts to real-time payment tracking, Skydo offers features designed to fit the way Indian businesses operate. It is tailored for Indian business workflows and B2B cross-border payments.

No payment limits

Unlike Wise, which caps invoice payments at $10,000 and only supports freelancers or sole proprietors in India, Skydo imposes no upper limit on invoice amounts.

Transparent, markup-free pricing

Skydo uses real-time currency conversion rates with zero hidden charges. All charges are upfront and flat, making it easier to budget international revenue.

Here are some reasons why businesses may prefer Wise over Skydo for international transactions and multi-currency management:

Better for smaller transfers

Wise charges a percentage-based fee, cheaper for smaller transfers under $1,000. For instance, sending $1,000 through Wise can cost around $16.19, while sending it through Skydo will cost $19. That slight difference can add up to savings over time.

Advanced multi-currency capabilities

Wise allows businesses to hold and manage 40+ currencies in one account. This means broader flexibility for companies involved in international transactions and those that retain multiple currencies.

Established global reputation

Wise has been in operation for over a decade and has established a strong global reputation, while Skydo is still relatively new.

Extensive features and integrations

Wise offers advanced tools, including multi-currency wallets and API integrations, for businesses managing complex or high-volume global payments.

Consistent fast settlements

The transfer speed of Wise is within 24–48 hours or even faster in popular currency corridors, depending on the region and method, thus offering speed and reliability across markets.

If the business makes smaller transfers, operates in multiple currencies, or relies on global infrastructure and advanced tools, Wise offers the flexibility and advanced tools to utilize. It’s fast, trusted, and loaded with features designed for international growth.

It’s essential to understand Skydo and Wise fees while managing international payments regularly. Here's a simple guide showing the different pricing of both Skydo and Wise:

Skydo pricing 

Skydo offers a flat fee pricing model that is suitable for medium to large transaction amounts. Here's how it works:

• Up to $2,000 - $19

• $2,001 to $10,000 - $29

• Above $10,000 - 0.3% of the amount

Skydo pricing features

• Zero forex markup: Live interbank rate with no hidden charges.

• Free FIRA: Instant FIRA (Foreign Inward Remittance Advice) included.

• Monthly/Setup fees: None

• Custom rates: Available for monthly volumes above USD 100,000.

• GST: 18% applicable on transaction fees

Wise pricing

Wise follows a percentage-based fee, which can be better for smaller transfers but gets pricier as the amount increases:

• Fees: Typically range from 1.6% to 1.9%, depending on the currency

• FIRA cost: $2.50 per USD transaction

• Possible intermediary bank fees: Especially with SWIFT and local transfers

• Monthly/Setup fees: None

• Transfer limit: Currently capped for Indian accounts (max $10,000 per transaction)

For Indian businesses working with global clients, getting paid should be the easy part. That’s where Xflow comes in. 

Xflow is an India-first international payment platform built to make payments quick, affordable, and seamless. With next-business-day settlements, funds reach your Indian bank account fast. Xflow also provides you with complete clarity on the INR received, utilizing live currency conversion rates with no markup, ensuring you always receive fair value for every transaction.