Landing freelance gigs on Upwork requires more than just a stellar profile. While your skills and experience take centre stage, a well-crafted cover letter can be the secret weapon that sets you apart from the competition.&nbsp;

This guide equips you with expert tips and winning templates for cover letters for Upwork to craft proposals that grab clients' attention and secure those dream projects.

Understanding the Importance of a Cover Letter on Upwork

Defining a Cover Letter in the Freelance Landscape

Cover letters on Upwork serve as introductions, expand your profile, and showcase your suitability for the job, much like in the traditional job market. It's your chance to personalise your proposal, demonstrate your understanding of the project, and showcase what makes you the ideal freelancer for the job.

Why Your Upwork Cover Letter Makes a Difference

Crafting a Winning Cover Letter: Essential Tips

Now that you understand the importance of a cover letter let's delve into the key elements that make it effective:

Add Your Personality (While Remaining Professional)

While professionalism is key, there's no need to be boring. Write in a conversational tone that's respectful but engaging. Avoid starting with dull phrases like "My name is Job Applicant Jean" and instead, let your personality shine through with phrases like “Having helped clients achieve [Specific results] in the past, I believe my skills can be a valuable asset to your [Project Name] project.”&nbsp;

Pay attention to the keywords used in the project description. Subtly integrate these keywords throughout your cover letter for Upwork to improve your proposal's searchability within Upwork's search engine.

Example: Look for keywords in the project description (e.g., "social media marketing"). Subtly weave them into your cover letter to improve searchability within Upwork's search engine. Instead of generic statements like "I have experience in marketing,” go for keyword integration: "I noticed you mentioned a focus on social media marketing and audience engagement. In my previous role, I managed social media campaigns that grew follower bases by 30% through targeted content strategies."

Anticipate potential concerns clients might have and address them directly in your cover letter. This demonstrates your attentiveness and ability to think ahead.

For example, instead of leaving clients wondering with generic statements like "I'm a great writer, trust me,” try addressing concerns like"I understand clear communication is crucial. I provide regular progress updates and keep you informed throughout the project. Feel free to reach out with any questions or concerns."

Instead of a standard sign-off, conclude with a call to action that reinforces your value proposition.

Example: "I'm confident my skills can significantly benefit your project. Let's discuss how I can help you achieve your goals. I'm available for a call at your earliest convenience."

Refine Your Approach: As you gain experience, track what resonates with clients and adapt your cover letters for continued success.

Showcase Your Passion and Understanding of the Client's Industry

Go beyond just listing your skills. Briefly mention what excites you about the client's industry or project type. This demonstrates genuine interest and sets you apart from freelancers focused solely on the job itself.

Example: "I've been following the impressive work your company has done in the sustainability sector, and I'm particularly passionate about [specific aspect of the industry]. My experience in [relevant skill] combined with my enthusiasm for this field allows me to bring a unique perspective to your project."

Highlight Your Skills and Quantify Your Achievements (When Possible)

Don't simply repeat your resume. Briefly showcase your most relevant skills and experiences that directly address the project's requirements. Back up your claims with data. Numbers add credibility and give clients a clearer picture of your impact.

Example: Instead of saying "increased website traffic," quantify it. "I crafted SEO-optimised blog posts that resulted in a 25% increase in organic website traffic for my previous client."

By incorporating these essential tips, you'll craft compelling cover letters that land you the freelance projects you deserve. Remember, a cover letter is an ongoing conversation. Keep personalising and refining your approach to stand out on Upwork!

Sample Cover Letter Templates for Success

These Upwork cover letter samples provide a foundation to build upon, tailored to different freelance specialities.

I am writing to express my interest in your project for [Project Title]. Having reviewed the details, I am confident that my skills and experience in [Your Skills] make me a strong fit for this role.

In my previous work with [Previous Client/Company], | successfully [Describe a Relevant Achievement]. My portfolio showcases a range of projects that demonstrate my ability to [Highlight Relevant Skills]

I am eager to learn more about your vision for this project and discuss how | can contribute to its success. Please find my portfolio attached for your review.

Thank you for your time and consideration.

I came across your project for [Project Title] and was immediately drawn to the opportunity to leverage my expertise in web design. With [Number] years of experience crafting user-friendly and visually appealing websites, I am confident I can deliver exceptional results.

In my previous project for [Previous Client], I designed a website that resulted in a [Quantifiable Achievement] increase in [Metric, e.g., traffic, conversions]. My portfolio showcases my ability to design websites that are not only aesthetically pleasing but also optimised for [Areas of Expertise, e.g. SEO, mobile responsiveness].

I'm eager to discuss your vision for the website and collaborate on a design that exceeds your expectations. Please find my portfolio linked below for your reference: [Portfolio Link]

I came across your project for [Project Title] and was immediately drawn to the opportunity to leverage my content writing skills. With [Number] years of experience crafting engaging and informative content, I am confident I can create pieces that resonate with your target audience and achieve your desired goals.

In my previous role at [Previous Client/Company], I successfully increased website traffic by [Quantifiable Achievement] through the creation of [Type of Content, e.g., blog posts, SEO-optimised articles]. My portfolio showcases my ability to write in various styles and tones, ensuring your content aligns perfectly with your brand voice.

I'm eager to discuss your content strategy and brainstorm ideas that will captivate your audience and drive results. Please find writing samples relevant to your project in my portfolio linked below: [Portfolio Link]

I'm excited to submit my proposal for your [Project Title] project. Having reviewed the details, I am confident my expertise in graphic design can deliver visually stunning and impactful creative assets that align with your vision.

For [Number] years, I've been helping businesses like yours create captivating visuals that elevate their brand identity. In my previous project for [Previous Client], | designed [Type of Design, e.g. logos, social media graphics, website banners] that resulted in a [Quantifiable Achievement] increase in [Metric, e.g. brand awareness, engagement].

My portfolio showcases my design versatility and ability to translate your ideas into effective visuals. I'm particularly skilled in [Areas of Expertise, e.g., brand identity design, illustration, UI/UX design. I'm eager to collaborate with you and bring your design vision to life. Please find a link to my portfolio showcasing relevant design work: [Portfolio Link].

Having reviewed your project for [Project Title], I'm confident my video editing skills and creative vision can transform your raw footage into a compelling and engaging video.

With a passion for storytelling and [Number] years of experience editing videos for [Previous Clients/Companies/Industries], | possess a strong understanding of pacing, transitions, and the power of visuals to capture and hold the audience attention.

In my previous project for [Previous Client], I edited a video that achieved [Quantifiable Achievement] by utilising [Specific Editing Techniques]. My portfolio showcases my ability to edit videos across various styles, from promotional content to explainer videos.

I'm eager to discuss your vision for this project and collaborate on crafting a video that exceeds your expectations. Please find a link to my portfolio showcasing my editing skills: [Portfolio Link].

Note: Adapt the bracketed sections to your specific skill set. Also, while you can use these templates for reference, it's important to make your cover letter very personalised.

By incorporating these tips and templates, you'll be well on your way to crafting compelling cover letters for upwork proposals that land you the freelance projects you deserve. Remember, a cover letter is an ongoing conversation. As you gain experience on Upwork, track what resonates with clients and refine your approach for continued success.

Check out this blog for expert tips and tricks on cover letter templates that will help you craft standout proposals and land freelance gigs on Upwork.

Land Your Dream Freelance Gig: Upwork Cover Letter Guide

Land Your Dream Freelance Gig: Upwork Cover Letter Guide th

Anoosh Kotak

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Karbon Business (formerly Karbon Card) hit the market in 2019, aiming to simplify B2B payments for Indian businesses and freelancers. They’ve since expanded into international payments too. But what exactly does Karbon bring to the table? In this blog, we’ll break down their features, pricing, and how they stack up against alternatives. Let’s dive in!

What does Karbon Business (Formerly Karbon Card) do?

Karbon Business initially started as a corporate card platform, hence the name Karbon Cards. However, since then they have expanded into other b2b offerings including facilitating international business payments for companies and freelancers. It offers both inward and outward remittance services. Let's take a quick look at Karbon Card’s offerings, compliance and pricing:&nbsp;

Karbon Business lets freelancers and businesses receive international payments directly into their Indian bank accounts within 24-48 hours. They’ve partnered with big names like IDFC Bank, Visa, and JP Morgan Chase to streamline cross-border transactions.

But here’s the catch: Karbon business <a href="https://www.karboncard.com/accept-international-payments-india">only supports payments in USD</a>. If you work with clients outside the US, this could be a deal-breaker. While they plan to add 12 more currencies soon, it’s still a limitation for many global businesses today.&nbsp;

With Karbon,&nbsp; businesses make international payments in over 30 currencies. Whether it’s paying employees, contractors, or vendors abroad, Karbon promises a competitive and compliant way to make cross-border payments.&nbsp;&nbsp;

Karbon Business provides corporate cards and payout services tailored for businesses. With Karbon Card, you get up to ₹15 Cr in free credit and unlimited employee cards. Their Karbon Payouts feature enables vendor payments on credit, 24/7 payouts, and more, offering flexibility for business transactions.

Karbon Business is a reliable option for receiving international payments in India. It is backed by partnerships with trusted global institutions and adheres to strict safety and privacy protocols to protect your funds.

Coming to compliance, Karbon Business also offers&nbsp; <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">FIRA for each transaction</a>.

What is Karbon Business (Formerly known as Karbon Cards) Fees?

Karbon Business offers live forex rates with a <a href="https://www.karboncard.com/accept-international-payments-india">flat 1% fee</a> for receiving international payments. While the pricing sounds competitive, the costs can stack up quickly for larger transactions. For example, receiving $10,000 would cost you ₹8,449 in fees.&nbsp;

For outward remittance too, Karbon business charges a <a href="https://www.karboncard.com/outward-remittance-india">fee of upto 1%</a>.&nbsp;

Here’s a quick overview of the pros and cons of Karbon Business as a means to facilitate international transactions:&nbsp;

Karbon Business Alternatives for Receiving International Payments&nbsp;

Now that we’ve explored Karbon Business, its fees, and features, let’s dive into some alternatives to see if there’s a better option for receiving international payments.

Founded in 2005, <a href="https://www.skydo.com/blog/payoneer-payment-gateway-features-fees">Payoneer</a> is a leading payment solution for businesses and freelancers worldwide. It facilitates international transfers by providing users with virtual bank accounts in multiple currencies and integrating with leading marketplaces like&nbsp; Amazon and Walmart&nbsp;

In terms of fees, Payoneer offers free account setup, but transaction fees apply: Payoneer-to-Payoneer payments are free, <a href="https://www.payoneer.com/en-in/about/pricing/">credit card payments</a> incur a 3.2% + $0.49 fee, ACH Bank Debits (US) cost 1%, and virtual account payments are free for EUR/GBP but up to 1% for USD.&nbsp; Withdrawals to local bank accounts attract up to a<a href="https://www.payoneer.com/en-in/about/pricing/"> 3% fee for different currencies.</a> Extra charges like bank or intermediary fees may apply. An annual fee of $29.95 is charged if total payments received are below $2,000 in a year.

To simplify compliance, Payoneer offers free digital FIRAs to Indian businesses and freelancers. However, some users have expressed dissatisfaction with <a href="https://www.g2.com/products/payoneer/reviews/payoneer-review-5364712">Payoneer's customer support</a>&nbsp;

Skydo is a global payment solution designed to simplify cross-border payments for freelancers and businesses in India. It offers virtual international bank accounts in under 5 minutes and provides a comprehensive payments ecosystem, including payment tracking, invoice generation, and more.

Skydo stands out with live Forex rates and zero currency conversion fees or hidden charges, offering a transparent fee structure that makes it a strong Karbon business alternative in India.

To ensure compliance with RBI and government regulations, Skydo provides free, instant FIRAs available for download after every transaction. Each user is also assigned a dedicated representative to assist with onboarding and address any queries promptly.

However, Skydo currently supports only inward remittances to India, meaning Indian businesses cannot use it for outward payments.&nbsp;

<a href="https://www.skydo.com/blog/transferwise-india-features-benefits-pros-cons">Wise (formerly TransferWise) </a>operates in over 80 countries, offering multi-currency accounts for individuals and businesses. Originally a peer-to-peer remittance platform, it has evolved into a global money transfer solution.&nbsp;

Wise stands out for using mid-market exchange rates without markups, charging a conversion fee averaging around 1-2% of the transfer value. It also provides <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">digital FIRAs </a>for compliance (e.g., $2.50 for USD transfers), making it a strong alternative to Karbon Business.

While <a href="https://www.skydo.com/blog/top_5_wise_alternatives_for_international_payment">Wise</a> boasts a<a href="https://www.forbes.com/advisor/in/banking/wise-review/"> user-friendly interface </a>and efficient transfers, some users have reported <a href="https://www.g2.com/products/transferwise/reviews?utf8=%E2%9C%93&amp;filters%5Bnps_score%5D=1#survey-response-9454134?no_follow=true">occasional challenges with customer support</a> responsiveness. Here’s a quick rundown of Wise’s pros and cons:

In today’s world, where domestic payments are as easy as a quick scan, international transactions should be just as effortless. At Skydo, we’re not just offering a payment platform—we’re building an ecosystem designed to simplify every step of the process. Let us take care of the payment logistics so you can focus on scaling your business globally.

Before choosing an international payment provider, always compare fees, exchange rate markups, features, and reliability. Your business deserves nothing but the best!

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Karbon Business : Review

As a freelancer or an exporter, getting paid on time is the most crucial aspect of your business. Wise (earlier known as TransferWise) is one of the most reliable and popular platforms for receiving international transfers from cross-border clients. But what about affordability? Are Wise transfer charges affordable for your business?

In this blog post, we have broken down the Wise transfer charges using different examples. We have also highlighted the good and not-so-good side of Wise based on real-life reviews so that you can make the right choice for receiving international money transfers.

Wise Transfer Charges: What do you need to know about them?

Wise takes pride in its transparency, ensuring no hidden fees are included in its pricing. But what are the different components of its transparent fees? Let's find out:&nbsp;&nbsp;

Mid-market exchange rate + Currency conversion fee

Wise considers the<a href="https://wise.com/in/mid-market-rate?no_follow=true"> mid-market exchange rate</a> to convert the value of currency. It is derived as the mid-point of the rate at which bankers are ready to buy and sell a currency. The mid-market exchange rate is real, and fair, and helps you get paid without getting stuck in the quagmire of exchange rate movements.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

In addition to that, Wise charges a conversion fee which differs from one currency to another.&nbsp;

e-FIRC charges (varies across currencies).

e-FIRC is an abbreviation for Electronic Foreign Inward Remittance Certificate. With every transfer, Wise sends you a digital FIRA, which they call an e-FIRC. The charges for e-FIRC are not a fixed fee, it varies according to the currency. For example, if you receive $1,000 from the US, the e-FIRC charges will be $2.50. For receiving €1000, the e-FIRC charges are €2.24.

Along with the above charges, additional fees could be applied to the total cost. These miscellaneous charges are due to the nature of the transaction or bank fees. For example, if you receive $1,000 from a client in the US through a Wire transfer, the Wise fees will be $28.94 – $6 more compared to a Wise account transfer. In the wire transfer payment method, the money is credited to your bank account. Because there are more participating financial institutions, the transfer fee increases marginally.

You can open an account in Wise free of charge, but all the above charges are applicable while making a transfer.

The duration of a Wise payment transfer depends on several factors. These factors include currency conversion (which usually takes up to two business days), the country you're sending money to and from, payment method, security checks, and public holidays and banking hours. Overall, Wise Transfer can take anywhere between&nbsp;<a href="https://wise.com/help/articles/2978029/how-long-does-it-take-to-receive-money-into-a-balance?no_follow=true">&nbsp;1-5 business days</a>.&nbsp;

Wise Transfer Charges: How much do I need to pay to receive global payments in India

With Wise, you can accept payment in international currencies. However, Wise money transfer charges are variable fees, that is they are not fixed and depend on the currency.&nbsp;

Don’t worry we won’t leave you hanging there. We have come up with two examples, using different foreign currencies. This example explains how the charges will differ and the net amount you can expect to receive from the currency transfers.&nbsp; 

Wise Fees for Receiving USD 5000 In India

We used <a href="https://wise.com/in/business/receive-money">Wise’s Transfer Fees calculator </a>to determine the total Wise transfer fee for receiving $5000 in India and the total amount you can expect.&nbsp;

Total fees: $82.7+ $2.5+ $15.34 = $100.54

Total amount to be converted: $5000-$100.54 = $4899.46

Current mid-market exchange rate: 83.5106

You get: 4899.46 X 83.5106= INR 409,156.84

Wise Fees for Receiving Euro 5000 In India

How does the calculation change when a client transfers the same amount albeit in a different currency from Europe? Let’s find out by switching the US Dollar to Euro.

Wise offers two payment methods for receiving payment from European clients: low-cost transfer and Wise account transfer. However, the fees are the same for both methods.

Total fees: €89.9+ €2.24 + €16.59 = €108.73

Total amount to be converted: €5000-€108.73 = €4891.27

Current mid-market exchange rate: 93.2861

You get: 4891.27 X 93.2861 = INR 456,287.50

Wise Transfer Charges Reviews: What people are saying on popular platforms?

Over the years, Wise has built a solid reputation among businesses and freelancers for receiving international payments. But what do the Wise reviews say? We have done the research and summarised it here:

In terms of usability, many users have reviewed it to be easy to use and handle. One user pointed out that is also<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-3335662?no_follow=true"> fast and cheap</a>. Another user praised the<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-9007501?no_follow=true"> highest conversion rate</a> Wise offered for the Chilean Peso against the US Dollar and how they can receive the amount in their bank of choice easily.

Based on the negative reviews, Wise has to do much work to improve its customer support response. One customer highlighted the<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-9219580?no_follow=true"> incompetent nature of customer support and privacy issues</a>. The customer had to keep explaining the issue repeatedly and the support team accidentally revealed someone else’s information. Another user experienced<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-8730853"> a slow money transfer?no_follow=true</a> due to a sudden change in Wise’s account requisites. The customer was not informed in advance and all the payments got hung up in between with no solution.

In summary, most positive reviews about Wise are around its user-friendly appearance and the overall experience of using the app. On the negative side, many customers have complained about the non-existent customer support and slow money transfers due to the sudden change in account requisites.

Receiving global payments with Wise vs Skydo: Comparing Wise transfer fees with Skydo

Skydo is a great alternative for receiving payment in international currencies in India. You can create an account for free and all the transfer charges are shared with you upfront – no hidden costs.

Skydo charges a flat fee of $19 for transferring up to $2,000 and $29 for payments between $2,001 and $10,001. Moreover, it offers international virtual accounts meaning your clients can transfer money to your account directly like they’re making a local transfer.

Let’s quickly compare Wise and Skydo to find out how much fees each platform charges for receiving the same amount of money in US Dollars.

From the above calculation, it’s clear that Skydo offers better value than Wise and is the least expensive option to receive international transfers. You save $168 in total fees which means an extra income of INR. 14,000.&nbsp;

If you want to get the best value for currency exchange and switch from traditional bank transfer to a more modern, transparent platform, create a free account with Skydo or book a demo with us. 

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Wise Transfer Charges in India

Wise (formerly TransferWise) is a global platform for sending and receiving money, empowering individuals and businesses worldwide to handle international payments with ease.

However, after reviewing platforms like <a href="https://www.g2.com/products/wise-business/reviews#reviews">G2</a>, <a href="https://www.capterra.in/reviews/1016836/wise">Capterra,</a> and <a href="https://www.trustpilot.com/review/wise.com">Trustpilot</a>, we found that existing Wise users often complain about issues like privacy challenges, limited customer support, and high currency conversion rates.&nbsp;

Before you opt for Wise, it is a ‘wise’ decision to read this honest TransferWise India review. We compiled this review based on our analysis of Wise’s features and the feedback shared by existing Wise users on various review portals.&nbsp;

What is Wise (Formerly TransferWise India)? Brief overview&nbsp;

Wise enables peer-to-peer and business-to-business money transfers worldwide. Initially, the Wise platform was a peer-to-peer (P2P) solution only that allowed individuals to send or receive money directly without intermediaries (like banks or credit card companies).&nbsp;

Later, Wise expanded into a business-to-business (B2B) payments solution, processing multi-currency transactions between enterprises.

Wise applies a mid-market foreign exchange rate without levying any forex markup. It charges a conversion fee that differs from country to country. For significant currencies like USD, EUR, GBP, and AUD, the conversion fee is approximately <a href="https://exiap.com.in/guides/wise-fees">1.78%</a> of the transfer value.&nbsp;

If a client sends you $1000 from the US to India through Wise, you will receive around ₹81,749.09. In this transaction, Wise will consider the mid market exchange rate without any markup which would be INR 83.66 (as of 23rd September 2024). However, it will levy a conversion fee of USD 16.95 along with a GST of USD 3.5 and an eFIRC fee of USD 2.50, bringing the total to USD 22.95. In a nutshell, to receive a payment of USD 1000 via Wise, you would need to pay a fee worth USD 22.95.&nbsp;

What are the Key Features of Wise (Formerly TransferWise India)?

Let us now assess the key features of Wise transfer:&nbsp;

Wise’s P2P transfer feature enables individuals to transfer and receive money from friends, family, and clients residing abroad. Recipients don’t need to maintain a Wise account to receive P2P payments. They can directly receive the payment in their bank accounts.&nbsp;&nbsp;&nbsp;

The key benefits of the P2P transfer include:&nbsp;

Wise P2P transfers are fast. <a href="https://exiap.com.in/guides/how-does-wise-work">50%</a> of these transfers are instant, and 80% of transfers are completed within 24 hours

Wise offers a comprehensive B2B payment solution with multi-currency accounts for businesses to hold and manage over 50 currencies. This feature is particularly useful for companies with global clientele, assisting them in receiving payments like a local entity.&nbsp;

By providing local bank details in various currencies (such as GBP, EUR, and AUD), Wise eliminates the need for multiple bank accounts across different countries. Wise B2B platform also provides a batch payment feature, helping businesses simultaneously send bulk payments to other recipients.&nbsp;

Wise offers API integration capabilities for companies looking to streamline their financial operations. This feature allows for automating payment processes, significantly reducing the administrative burden of managing international transactions.

Wise multi-currency virtual accounts feature allows individuals and businesses to convert amounts between multiple currencies when engaging in international transactions. Since you can hold and manage multiple currencies, you don’t need to maintain multiple bank accounts in different locations.&nbsp; A single user can manage over <a href="https://wise.com/gb/blog/manage-currencies-in-one-account#:~:text=Holding%20multiple%20currencies,more%20ways%20to%20pay%20you.">40 different</a> currencies in their Wise account.&nbsp;

The Wise debit card is a convenient solution for businesses, travellers, or shoppers who often purchase products online from international brands. However, note that Wise debit card facility is currently not available in India

To ease compliance, Wise also offers digital FIRA to Indian businesses and freelancers for every international payment. However, it charges an eFIRC fee for the same, which varies across currencies. For example, for USD payments, Wise (formerly TransferWise India) charges USD 2.50 for digital FIRA.&nbsp;

Yes, Wise transfers are allowed in India. It is a trusted financial service provider approved by the Reserve Bank of India (RBI). However, there are some specific regulations and conditions regarding sending and receiving INR that you should know. You can find the regulations <a href="https://wise.com/help/articles/2932151/guide-to-inr-transfers">right here</a>.&nbsp;

Additionally, the following Wise services are unavailable in India:&nbsp;

Wise (Formerly TransferWise India) Fees: All You Need to Know&nbsp;

Here’s a quick breakdown of Wise fees for receiving money from abroad as an Indian business:&nbsp;

TransferWise India Review: The Good, Bad and The Ugly&nbsp;

Here’s how Wise customers rated the solution on different platforms like <a href="https://www.g2.com/products/wise-business/reviews#reviews">G2</a>, <a href="https://www.capterra.in/reviews/1016836/wise">Capterra</a> and <a href="https://www.trustpilot.com/review/wise.com">Trustpilot</a>:

Let us now learn more about the pros and cons of Wise from its users’ perspectives:&nbsp;

<a href="https://www.trustpilot.com/review/wise.com">Source</a>

<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-7417435">Source</a>

<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-8362373">Source</a>&nbsp;

<a href="https://www.capterra.in/reviews/1016836/wise">Source</a>

Our Final Verdict of TransferWise India&nbsp;

For individuals and businesses in India receiving money from abroad, Wise offers several advantages:

However, there are notable limitations and concerns:

Wise (Formerly TransferWise India) Alternatives to Note&nbsp;

If you want <a href="https://www.skydo.com/blog/top_5_wise_alternatives_for_international_payment#skydo">Wise alternatives</a> to receive international payment in India, some of the most used apps include PayPal, Payoneer, and Skydo.&nbsp;

While both are well-known payment solutions for receiving international payments, PayPal can be expensive for small businesses and freelancers. Its transaction fee is 4.4%, and PayPal charges a flat fee of $0.3 and an additional 4% markup on the exchange rate. Alternatively, Payoneer charges a 2% forex markup and a $29.95 annual fee for 12 months of inactivity.&nbsp;

After comparing the pricing of these three tools, <a href="https://www.skydo.com/">Skydo</a> appears to be the most transparent and potentially cost-effective solution with no hidden fees. It charges a flat fee based on the transfer amount and uses live forex rates without additional markup.

Skydo offers virtual international bank accounts that provide free and instant FIRA after every transaction.&nbsp;

To explore Skydo, <a href="https://dashboard.skydo.com/login?utm_source=google&amp;utm_campaign=Skydo_Traffic_May13&amp;utm_medium=ad&amp;utm_content=Skydo_Traffic_May13&amp;utm_term=skydo&amp;gclid=Cj0KCQjw28W2BhC7ARIsAPerrcJLvzOSlfehAbzueYGdDcg2mOFwcQvVMe7XeQUY3svOaMko2TCEAOQaAoOwEALw_wcB">sign-up today</a>!

Wise (Formerly TransferWise India) Review: Features, Benefits, Pros & Cons

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In this article, we'll analyse India's top five cross-border payment companies to help you find the right fit for your international payment needs.

Imagine you've just completed a project for an overseas client. The payment arrives after days of waiting, but it's less than expected, reduced by unexpected bank fees and unfavourable exchange rates.​

India's export and freelance sectors are experiencing unprecedented growth. Between April an<a href="https://pib.gov.in/PressReleasePage.aspx?PRID=2098447">d December 2024, the country's exports reached an estimated US</a>D 602.64 billion, marking a 6.03% increase from the same period in 2023. As more Indian professionals engage in global commerce, the challenges of receiving international payments, such as hidden fees and compliance complexities, have become more pronounced.​

In response, a new wave of homegrown payment solutions has emerged, tailored to the needs of Indian users. These platforms offer competitive exchange rates, faster transfers, and simplified compliance processes, providing a more efficient alternative to traditional banks.&nbsp;

<a href="https://www.skydo.com/">Skydo</a> provides virtual bank accounts in multiple countries, including the US, UK, Canada, and Australia, allowing Indian freelancers and businesses to receive payments in multiple currencies, including USD, GBP, EUR, and CAD. Their standout feature is zero forex margin with transparent flat fees and instant <a href="https://www.skydo.com/blog/importance-of-fira-for-freelancers">digital FIRA</a> generation.

<a href="https://www.skydo.com/blog/razorpay-international-payments-charges-features">Razorpay International Payments</a> allows Indian businesses to accept payments from over 100 countries through standard options like cards, bank transfers, and PayPal. They also offer MoneySaver Export Account, which provides virtual international bank accounts for receiving direct bank transfers.

<a href="https://www.skydo.com/blog/karbon-business-features-pricing-and-alternatives">Karbon Business (formerly Karbon Card)</a> facilitates inward and outward remittance services for Indian businesses and freelancers. Initially starting as a corporate card platform, they've expanded to offer international payment solutions and partnered with banks like IDFC Bank and JP Morgan Chase.ngs&nbsp;

<a href="https://www.skydo.com/blog/eximpe-reviews-fees-alternative">EximPe </a>provides cross-border payment solutions with global collection accounts in 30+ currencies for freelancers and small businesses. It offers transaction-based pricing and monthly subscription models, along with trade financing options for import-export businesses.

<a href="https://www.skydo.com/blog/xflow-price-features-alternatives">Xflow</a> is an India-based payment platform that provides virtual USD accounts for receiving international payments. The service offers next-day settlements, payment links, invoicing tools, and automated digital FIRA generation for international transactions.

Receive affordable and compliant cross-border payments with Skydo&nbsp;

When it comes to receiving international payments as an Indian freelancer or business, the choice of platform can significantly impact your bottom line. After reviewing India's top five cross-border payment companies, a few key differences stand out.

While all five platforms offer digital FIRA generation and some form of virtual accounts, they vary widely in pricing structures, currency support, and additional features. Razorpay offers wide country coverage but comes with higher fees. Karbon Business provides dual-direction payments but only supports USD for inward payments. EximPe offers multiple currency options but has a complex fee structure. Xflow provides simple invoicing tools but is limited to USD transactions.

Skydo emerges as the most cost-effective option, especially for more significant transactions. With transparent pricing, zero forex margin, and fees as low as 0.3% for payments above $10,000, it can save you thousands compared to platforms charging a flat 1% or more. The instant FIRA generation, 5-minute account setup, and dedicated customer support address the main pain points freelancers face with international payments.

For freelancers and businesses looking to maximize their earnings from international clients, Skydo offers the most comprehensive solution that balances affordability, transparency, and essential features to make cross-border payments seamless.

<a href="https://www.skydo.com/">Explore Skydo</a>

Top 5 Cross-Border Payment Companies in India

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Infinity Payment is a platform for receiving cross-border payments in India. Based in Bangalore, it allows Indian businesses, like exporters and freelancers, to create multi-currency accounts to manage international payments.

If you are in the market evaluating tools like Infinity Payment, this blog post is for you.&nbsp; In this comprehensive analysis, we explain the core features of Infinity and its fee structure to help you decide if it's the right fit for your business. We also cover a more seamless and affordable alternative, so we suggest reading this blog till the end.

Here are the four most essential points you must know about Infinity Payment before you decide to sign up for a demo:

Global Account: When you create an account with Infinity Payment, this single account allows you to receive payments in different currencies.&nbsp; Your clients can pay you in <a href="https://www.infinityapp.in/reach-out-to-us">30+ currencies</a>, and you don’t have to worry about currency conversion

Free Digital FIRA: With every withdrawal, you get a <a href="https://www.skydo.com/blog/automated-firc-simplifying-international-payments-compliance">FIRA</a>. This helps you stay compliant and reduce administrative workload

Live Forex Rate, No Markup: An international payment is converted to domestic currency based on the prevailing exchange rate. Moreover, there is no markup or hidden fees, which ensures you get the best value for the payment

Personalized Treasury Management: Infinity Payment offers curated portfolios of government securities, mutual funds, and fixed deposits to help you earn from the idle cash in your account. This is an interesting offer if you have been exploring investment opportunities to grow interest income from international payments

Infinity Payment Fees: How Much Do You Pay?

Let’s understand the most important section of the blog: How much do you pay as fees for receiving international payments? To make the calculations easier, we assumed that you have received a payment of USD 10,000 from a foreign client.

Transaction fee: Infinity Payment charges a transaction fee of 0.5% of the amount. For receiving a payment of $10,000, the fee will be $50 (0.5% X $10,000)