Best 8 Wise Alternatives & Competitors in 2026

International transfers aren't as tedious and complicated as they used to be. Platforms like Wise offer a faster, more cost-effective alternative to traditional banks for sending and receiving money abroad.

While Wise is popular for offering a transparent pricing model and fast cross-border money transfers, it's not the only option out there. And it certainly isn't the right fit for every business.

There are a host of Wise alternatives with better features, lower pricing, and faster transfers. That's why it's important to compare them carefully to find one that works best for your business.

While there are many alternatives to Wise, our top picks are Xflow, PayPal, and Skydo. They offer better rates, automated FIRA/FIRC, and quick settlements. 

Wise, earlier called TransferWise, is a fintech company that started in 2011. It makes sending, receiving, and managing international payments simple and affordable. Wise offers tools for both individuals and businesses to handle money across multiple currencies.

Here's what it offers:

Personal and business accounts: Wise provides accounts for both personal and business use, which can be accessed online or through its app.

Multi-currency accounts: It lets you hold and manage money in over 50 currencies, making it easier to receive payments from abroad.

Currency conversion: Wise uses the mid-market exchange rate, providing transparency when converting money.

International transfers: You can send and receive money in more than 50 currencies to over 80 countries, often within a day.

Automatic eFIRC: For Indian customers, Wise sends eFIRC for compliance and tax purposes automatically.

Wise offers a ton of amazing features - multi-currency accounts, transparent fees, fast international transfers, etc. But it isn't suitable for every business. It has transaction limits, high fees, and certain restrictions, which might push you to explore better, cheaper alternatives.

1. Transaction limits

Wise caps transfers at $10,000 per invoice. This can be quite restrictive, especially if you deal with large orders or high-value customers.

2. Fees on large amounts

Small transfers through Wise are cheap. But bigger payments? Not so much. For example, receiving $10,000 can cost you well over $160 in fees. Plus, there are extra charges for FIRC documents.

3. Business restrictions

In India, Wise Business supports only freelancers and sole proprietorships. This means if you have a private limited company or an LLP, you cannot receive payments through Wise.

4. FIRC costs

Wise doesn't provide FIRC documents for free. You'll have to pay a fee of $2.50 per e-FIRC, which can add up for multiple transactions. Alternatives like Xflow provide FIRC/FIRA digitally at no extra cost.

5. Limited coverage and integrations

Lastly, Wise doesn't integrate with all freelance marketplaces or e-commerce platforms. It also lacks payment options in certain regions, leaving you to juggle multiple tools.

There are many great Wise alternatives offering lower rates, free FIRA/FIRC documents, broader coverage, and higher transfer limits. You can explore options like Xflow, Payoneer, Stripe, PayPal, Skydo, OFX, Remitly, and Infinity.

1. Xflow

Xflow is a cross-border payment platform for businesses and freelancers. It helps you receive international payments quickly, securely, and at minimal cost.

Xflow makes it easier to collect money in multiple currencies and get it into your Indian bank account without delays or hidden charges.

Key features of Xflow:

Fast settlements: Receive payments in your Xflow account within hours, and withdraw to your bank in one business day.

Transparent pricing: FX rates are linked to mid-market rates, so you know the exact amount you will receive.

Multi-currency support: Accept payments in 25+ currencies from almost anywhere in the world.

Free eFIRA/FIRC: Get compliance documentation automatically for every transaction.

Secure and reliable: Xflow is powered by JP Morgan Chase. It is also ISO 27001 and SOC 2 certified.

API integration: Add international payment capabilities directly into your platform.

Pros:

• Fast, predictable cash flow.
• Clear, mid-market FX rates.
• Multi-currency support.
• Free eFIRA/FIRC for each transaction.
• Secure and compliant.

Cons:

• Limited to receiving payments only.
• Fewer currency options.

Pricing:

• Starter: $12 for invoices up to $2,000 and 0.6% for invoices above that.
• Growth: $20 for invoices up to $5,000 and 0.4% for invoices above that.
• Scale: Custom pricing.

Sign up today!

2. Payoneer

Payoneer is a payment platform that helps you send and receive money globally. It is used by freelancers and businesses that work with global marketplaces like Upwork, Fiverr, and Amazon. 

Payoneer offers local receiving accounts in multiple currencies, making international payment handling much easier than traditional banks.

Key features of Payoneer:

Multi-currency accounts: Payoneer lets you hold and manage more than 50 currencies. It also offers local bank details in USD, EUR, GBP, and more.

Fast transfers: Receive payments instantly into your Payoneer account from clients or marketplaces.

Global payouts: Pay contractors, employees, or vendors anywhere in the world.

Invoicing and payroll tools: Create invoices and manage international payroll directly from your account.

Payment cards and loans: Access Payoneer debit cards and optional working capital loans for your business needs.

Pros:

• Local account details for multiple currencies.
• Fast, reliable payments from clients and platforms.
• Easy bulk payments and payroll support.
• Additional financial tools like cards and loans.

Cons:

• High exchange rate.
• Withdrawal fees and occasional processing delays.
• Slow customer support, depending on the region.

Pricing:

• Payments from another Payoneer user: Free.
• Payments sent directly by your clients: Varies by method, starting at 1%.
• Payments from marketplaces or partner platforms: Varies by marketplace or network.
• Payments received through your global receiving accounts: Free for local currency deposits; a fixed fee or 1% for other currencies.

3. Stripe

Stripe is another international payment provider that helps online businesses accept and manage payments globally. It was founded in 2011 in the US. Today, it serves businesses in over 50 countries.

Stripe is popular among SaaS companies, e-commerce platforms, and tech-focused businesses because of its flexible API and wide payment options.

Key features of Stripe:

Developer-friendly gateway: You can use Stripe's APIs to set up custom payment flows, recurring billing, and one-click checkouts.

Global currency support: Accept payments in over 135 currencies and multiple local payment methods.

Advanced business tools: It has built-in features like fraud detection, revenue analytics, and subscription management.

Flexible payment methods: Customers can pay via cards, wallets, and other online options.

Pros:

• Supports multiple currencies and payment methods.
• Advanced tools for subscriptions, analytics, and fraud protection.
• Highly customizable.

Cons:

• Higher fees for Indian merchants.
• Invite-only access in India.
• Does not provide FIRA/FIRC documents.

Pricing:

• Standard: 2% for cards issued in India, 3% for cards issued outside India.
• Custom: Available on request.

4. PayPal

PayPal is one of the most widely used digital payment platforms in the world, with over 400 million users. It lets you send, receive, and hold money in over 25 currencies.

It provides a reliable platform for freelancers, small businesses, and e-commerce sellers to manage their international payments and access the funds quickly.

Key features of PayPal:

Global reach: PayPal lets you accept payments from customers in over 80 countries.

Multiple currencies: Hold balances in more than 25 currencies and convert between them easily.

Payment flexibility: Receive funds via debit, credit, or prepaid cards, and manage subscription-based payments.

Automated FIRA: For Indian users, PayPal issues monthly FIRA documents automatically.

Security and support: PayPal offers 24/7 customer assistance and strong safety measures.

Pros:

• Wide global reach with a large user base.
• Instant payments using just an email address.
• A variety of PayPal cards for international use.
• Automated FIRA for Indian businesses and freelancers.

Cons:

• Higher international transfer fees.
• Currency conversion costs of 3-4%.
• Can be more expensive for frequent large transfers.

Pricing:

• Payflow Link: $0 per month
• Payflow Pro: $25 per month

5. Skydo

Skydo is built for Indian businesses that earn from global clients. It's a good fit for freelancers, agencies, SaaS companies, and exporters who want an easy way to receive international payments without hidden fees or complicated paperwork.

Skydo lets you receive global payments at live exchange rates and gives you the compliance documents you need without extra steps or charges.

Key features of Skydo:

Real mid-market rates: Skydo uses the same exchange rate you see on Google. There's no extra markup on currency conversion, so you know exactly how much you will receive.

Clear, flat pricing: Skydo offers transparent, tier-based pricing.

Instant FIRA at no cost: Every payment processed through the platform comes with an auto-generated FIRA.

Tracking and invoicing tools: You can see the status of each payment in real time. Skydo also lets you create and share invoices directly from the platform.

Easy payments from US clients: You can send a payment link, and clients can pay by card or ACH while you receive INR at live rates.

Pros:

• Cheaper than percentage-based platforms for large payments.
• Automatic FIRA at no extra cost.
• Lets US clients pay easily by card or ACH.
• Designed for Indian users and India-specific challenges.

Cons:

• Works only for incoming payments.
• May not be the most affordable option for very small transfers.

Pricing:

• For payments up to USD 2,000: $19
• For payments between USD 2,001 and USD 10,000: $29
• For payments above USD 10,000: 0.3%
• For payments exceeding USD 100K/month: Custom pricing

6. OFX

OFX is a money transfer service that lets you send funds to over 190 countries in more than 55 currencies. It has a website and mobile app that work like any other digital transfer platform.

OFX offers a 24/7 phone service, where you can get assistance from a support rep when handling important transactions.

Key features of OFX:

Global coverage: Send money to 190+ countries in 55+ currencies.

24/7 phone support: You can get in touch with personal brokers anytime for help with rates, transfer timings, or payment concerns.

No transfer fee on large amounts: OFX does not charge transfer fees for high-value payments, helping you save more.

Business payment options: It offers tools for bulk and recurring payments.

Pros:

• Lower exchange rates.
• 24/7 phone support for quick help.
• No transfer fees for large amounts.

Cons:

• Exchange rates include a markup.
• Transfers can take 2–5 days.
• Only bank transfers are accepted as a payment method.

Pricing:

• Standard: $0 per month (includes 2 users)
• Full Suite: $25/user/month (including GST)
• Custom: Custom pricing

7. Remitly

Remitly is built for quick, simple, and reliable international transfers. It is ideal for people sending money to family overseas. It also works well for businesses that need to pay freelancers, vendors, or contractors in other countries.

It has a transparent pricing model with no hidden fees and supports a wide global network. This includes bank accounts, mobile wallets, and cash pickup locations in many developing markets.

Key features of Remitly:

Simple transfers: Whether you're paying overseas vendors or sending money to family, Remitly offers a fast and easy process.

Wide global coverage: Remitly supports payouts in 100+ currencies and connects to billions of bank accounts, mobile wallets, and hundreds of thousands of cash pickup locations worldwide.

Flexible payout options: Recipients can get money through bank deposits, mobile wallets, or cash pickup.

Economy and express options: Remitly gives you two delivery options - economy for cheaper transfers and express for faster deliveries.

24/7 support: Help is available at any time through online chat or phone.

Pros:

• Easy and quick to use.
• Flexible payout options.
• 24/7 customer support.

Cons:

• Services vary depending on the destination.
• Limits on maximum transfer amounts.

Pricing: Varies depending on the destination, transfer speed, and transaction value.

8. Infinity

Infinity is an international payment solution built for Indian freelancers, exporters, SMBs, and e-commerce sellers. It offers virtual local accounts in major currencies like USD, GBP, EUR, CAD, AUD, and more.

You can use it to receive payments from global clients just like a local, and then convert the funds to INR without any markup.

Key features of Infinity:

Local currency accounts: Infinity gives you virtual account details in 50+ currencies so clients abroad can pay you easily through local methods.

Zero FX markup: It converts payments to INR at live Google rates with no hidden charges.

Free instant eFIRC: The platform automatically generates a digital FIRC for every transaction.

1-day settlement: Most payments reach your Infinity account within one business day. You can withdraw them to your bank right away.

RBI-regulated partners: All transfers are handled through licensed banking partners for compliance and security.

Pros:

• Clear and predictable fee.
• No markup on exchange rates.
• Free eFIRC for every payment.

Cons:

• No built-in invoice generator.

Pricing: Flat 0.5% transaction fee.

Every Wise alternative offers something different. Answer these 5 key questions to find the best fit for your needs:

1. What are your payment needs?

Look at how often you send money, the usual amount, and whether your transfers are B2B or B2C. This will remove the guesswork and help you understand exactly what you need.

2. How fast and reliable is the platform?

Trust us, slow transfers are the last thing you want to deal with. They can affect your payouts, supplier relationships, and daily operations. Pick a service that offers quick processing and minimal delays.

3. Is the dashboard easy to use?

A clean, simple interface can save you a lot of time and hassle. Make sure the provider also offers quick support through chat, email, or phone. This will make a huge difference in case something goes wrong.

4. Can the platform integrate easily into your current systems?

The platform should work well with the tools you already use. Be it accounting, invoicing, payroll, etc. This ensures all data is organized and in sync without manual work.

5. Does the platform follow security and compliance rules?

The Wise alternative you choose should follow local and global rules like RBI guidelines, AML, PCI DSS, etc. It should also have strong security checks in place, like two-factor authentication and fraud monitoring, to alert you in case of suspicious activity.

Xflow is a great alternative to Wise if you're looking for a simple and safe way to receive international payments. It offers clear pricing with no hidden charges. Plus, it follows the mid-market rate. With Xflow, you also know the exact INR amount you will get before the transfer begins.

Here's what makes it one of the best Wise alternatives:

• Payments reach your bank account within one business day.
• You get your eFIRA with one click, usually within 24 hours.
• You can collect large amounts on a single invoice without splitting them.
• The platform is ISO 27001 and SOC 2 certified.

Xflow also supports 25+ currencies and lets customers pay through local bank transfers, which are faster and cheaper than international wires.

Sign up today to see what makes it a better cross-border payment platform than Wise.