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Skydo vs Wise vs PayPal vs Payoneer vs Xflow: fees, FIRA and the EDF for Indian freelancers

Each of these can bring a foreign client's payment to your Indian bank in rupees. They differ in what they charge, the proof of payment you get and what they say about the EDF. None of them files the EDF for you.

Last updated 09 Oct 2026 · Not legal or tax advice

What to compare

  • Licence: a cross-border payment aggregator (PA-CB) authorised by RBI must give you proof of each payment and is capped at ₹25 lakh per transaction.
  • Proof of payment: a FIRA or e-FIRC for every payment makes the EDF and your GST export claim straightforward.
  • Fees: a flat fee per payment suits large invoices; a percentage or an exchange-rate markup suits small ones. Whatever is deducted, invoice and declare the full amount and record the difference as a fee. To see what a payment really cost you, compare the rupees credited with the mid-market rate in the exchange-rate markup calculator on our sister site FreeTools99.
  • Where the EDF goes: the rules don't settle which AD bank takes the EDF for aggregator receipts; most providers point to your own bank, where the rupees land.

Provider by provider

From each provider's published pages, checked 04 Oct 2026. Fees change: check the provider's current pricing.

Skydo

  • Status: Skydo has RBI's final authorisation as a cross-border payment aggregator for inward and outward payments.
  • Proof of payment: Skydo's FIRA for each transaction, free according to Skydo. Skydo also says it processes the e-BRC closure.
  • Fees: According to Skydo's published pricing: US$19 per payment under US$2,000, US$29 from US$2,000 to US$10,000, and 0.3% above that, with no exchange-rate markup. Declare the full invoice amount and record what was deducted as a fee.
  • Where the EDF goes: File with your own bank, where the rupees are finally credited. Skydo's guide says this is not always the bank named on the FIRA (HDFC Bank, unless HDFC is your bank).

Wise

  • Status: Wise Payments India has RBI's final authorisation as a cross-border payment aggregator for inward payments (12 March 2026).
  • Proof of payment: Wise's e-FIRC, emailed within 3 business days. Wise charges about US$2 per transfer plus GST for it.
  • Fees: Wise deducts its conversion fee and the e-FIRC fee, plus 18% GST on them, so less arrives than you invoiced. Declare the full invoice amount and record the difference as a fee.
  • Where the EDF goes: Wise hasn't published guidance on the EDF (checked 11 October 2026): its help pages for Indian businesses cover the e-FIRC, the optional IEC and GST invoices, not the EDF. Which AD bank should receive it for payment-aggregator receipts isn't settled; the common practice is your own bank, where the rupees land. Confirm with your bank.

PayPal

  • Status: PayPal is an existing cross-border payment aggregator with RBI's in-principle authorisation, not yet the final one.
  • Proof of payment: PayPal's weekly digital FIRA, free from February 2026. For a FIRA per transaction, Citibank issues a custom FIRA for ₹100 plus 18% GST each (₹2,000 plus GST for a bulk request of more than 20), in 3 to 5 business days.
  • Fees: PayPal deducts its fees and conversion margin before the rupees reach you, so less arrives than you invoiced. Declare the full invoice amount and record the difference as a fee.
  • Where the EDF goes: PayPal hasn't published guidance on the EDF. File with your own bank, where the rupees land, and give it the weekly FIRAs.

Payoneer

  • Status: Payoneer India has RBI's in-principle authorisation as a cross-border payment aggregator (January 2026), not yet the final one.
  • Proof of payment: A FIRA, FIRS or NOC in the Documents section of your Payoneer account, free, 24 to 72 hours after the money is deposited (per Payoneer's 2023 guide).
  • Fees: Payoneer's India pricing page lists a 1–4% fee on withdrawals to India, and an annual fee of US$29.95 if you receive less than US$6,000 in 12 months. Declare the full invoice amount and record what was deducted as a fee.
  • Where the EDF goes: Payoneer hasn't published guidance on the EDF. The common practice is to file with your own bank, where the rupees land; confirm with your bank.

Xflow

  • Status: Xflow has RBI's final authorisation as a cross-border payment aggregator for inward and outward payments.
  • Proof of payment: A FIRA from JPMorgan Chase on the Payout page of your Xflow dashboard. Xflow's EDF article mentions this for invoices above ₹10 lakh; smaller invoices can be closed on your own declaration.
  • Fees: Xflow's pricing page lists a Starter plan at US$12 a transaction up to US$2,000 and 0.6% above, and a Growth plan at US$20 up to US$5,000 and 0.4% above, at the mid-market rate. Declare the full invoice amount and record what was deducted as a fee.
  • Where the EDF goes: File with your own payout bank, and put that bank's AD code and branch in Part 1.

Razorpay

  • Status: Razorpay has RBI's final authorisation as a cross-border payment aggregator.
  • Proof of payment: Razorpay's FIRA or e-FIRS, within 24 hours after settlement, free.
  • Fees: Reported pricing is 1% per transaction with no exchange-rate markup, and the first ₹1 lakh free; check Razorpay's current pricing. Declare the full invoice amount and record what was deducted as a fee.
  • Where the EDF goes: If your settlement bank is ICICI: get the EDF number from ICICI before the month's first capture, as Razorpay's EDF article says.

Whichever you use

Exporters file the EDF with their bank within 30 days after each invoice month (individuals: RBI said on 7 October 2026 they may not need to; who files). Prepare it free with the EDF generator, in your bank's format.