Wise USD to INR Fees Calculator
Wise costs about 1% to 2% all in for Indian businesses. Xflow gives you the mid-market rate with no markup and one flat fee.
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Disclaimer: Rates are indicative and subject to change. Xflow fee varies basis the plan you select.
12,000+ Indian businesses trust Xflow for international payments
What using Wise actually costs you on a $5,000 invoice
You lose roughly USD 103, which is about 2.06% of your invoice. Wise also auto-converts your dollars to INR the moment they arrive. You have no control over the timing, no way to wait for a better rate, and no way to hold your USD balance.
| Fee Component | Amount |
|---|---|
Invoice value | USD 5,000 |
Wise conversion fee | − USD 00 |
eFIRC fee | − USD 2.25 |
GST on the conversion fee (18%) | − USD 15.30 |
What you receive | ~ USD 4,712.50 |
How Wise charges Indian businesses
Wise is upfront about its fees and has no hidden FX markup. The rate you get is the mid-market rate, the same one you'd find on Google. But "no FX markup" doesn't mean "no cost." Here's what Wise actually charges:
Conversion fee (~1.7%)
This is Wise's primary charge. On a $5,000 invoice, that's $85. It's clearly stated, it's real, and it scales with every invoice you receive.
eFIRC fee ($2.25 per transaction)
Every payment you receive through Wise comes with a $2.25 charge for the eFIRC (electronic Foreign Inward Remittance Certificate). If you receive 20 payments a month, that's $50/month just in certificate fees.
GST on the conversion fee (18%)
Wise charges GST on its conversion fee. On a $85 conversion fee, that's an extra $15.30.
Why do businesses look for a Wise alternative?
Wise does a lot right - mid-market rates, transparent fees, reasonable settlement times. But there are a few structural limitations that catch Indian businesses off guard.
- 01You can't hold USD or time your conversion: When a payment arrives in your Wise account, it gets converted to INR automatically. There's no "hold my USD" option, no rate alert, no ability to wait for a better rate. If the market is unfavourable the day your payment lands, that's the rate you get.
- 02Only sole proprietors and freelancers can use it: If your business is registered as a Private Limited Company or LLP, which many growing agencies and SaaS companies are, Wise doesn't support you for business receipts. You'd need to look elsewhere regardless of how the fees compare.
- 03Fees still add up at scale: 2% sounds manageable on a single invoice. On $10,000/month in exports, it's $200/month and ₹1.8 lakhs a year, going to Wise. At $50,000/month, that's ₹9 lakhs.
- 04Settlement isn't guaranteed next-day: Wise typically settles in 1–3 business days. For most use cases that's fine, but it's not T+1 with a noon delivery guarantee the way Xflow's system works.
- 05No AI tools, no target rate, no control: Wise has no equivalent of Xflow's FX AI Analyst. You can't set a rate limit and auto-convert when the market hits it. You just convert when you need the money, at whatever rate is available.
Does Wise get cheaper as your invoices grow?
Wise doesn't have volume-based tiers. The conversion fee percentage stays largely the same regardless of invoice size.
| Invoice Range | Conversion Fee | eFIRC Fee | GST on Fee | Approx. Total Cost |
|---|---|---|---|---|
$0 – $1,000 | ~1.7% | $2.25 | 18% of fee | ~2.1% |
$1,000 – $5,000 | ~1.7% | $2.25 | 18% of fee | ~2.1% |
$5,000 – $10,000 | ~1.7% | $2.25 | 18% of fee | ~2.1% |
$10,000+ | ~1.7% | $2.25 | 18% of fee | ~2.1% |
Is GST charged on Wise fees?
Wise is registered in India as a payment service provider, which means the 18% GST is applied to their fee and shows up in your transaction.
What this means for your business: On a $5,000 invoice, Wise's conversion fee is ~$85. GST at 18% adds another ~$15.30. That $15.30 isn't a separate line item you have to calculate, Wise handles the collection but it comes out of your receipt.
Wise vs Xflow: an honest comparison for Indian businesses
| Conversion fee | ~1.7% | 0% - mid-market rate |
| Transaction fee | 2.5% | 0.4% (Growth plan, invoices > $5,000) |
| FX markup | 0% — mid-market rate | 0% — mid-market rate |
| Total effective cost | ~2% | ~0.4% |
| Settlement time | 1–3 business days | T+1 (next business day) |
| Ability to hold USD | ||
| Rate transparency | Transparent pricing but immediate conversion | Transparent pricing with conversion timing control |
| INR guarantee / rate lock | ||
| eFIRC / remittance certificate | $2.25 per transaction | Included, no extra charge |
| AI-powered FX tools | ||
| FEMA/SOFTEX support | ||
| 24x7 withdrawals | ||
| Documentation demands | Yes - can delay fund release | No friction on incoming payments |
| Built for business payments | B2C focused | Built specifically for B2B exporters |
| Card payments | ||
| Custom pricing for volume |
How to legally reduce what you pay on Wise fees
- 01Batch payments where possible: Each transfer carries a $2.25 eFIRC fee. If your client can consolidate multiple smaller payments into a single larger one, you pay that charge once instead of multiple times.
- 02Check whether you can claim GST as input tax credit: Wise charges GST directly on its fee. If your business is GST-registered and this qualifies as an eligible input service, you may be able to recover the GST. Your CA can confirm.
- 03Invoice in USD: Avoid multi-currency hops. A direct USD-INR conversion means you're only paying one conversion fee. Invoicing in a non-USD currency that Wise then converts through an intermediate step adds fee layers.
- 04Consider whether Wise is still the right tool for your volume: Wise works well at lower invoice frequencies. As your volumes grow, 2% compounds quickly. At $10,000/month, that's $200/month — $2,400/year, going to Wise in fees alone. At that volume, switching to Xflow (0.4%, or $40/month on the same figure) saves you over ₹1.8 lakhs a year.
- 05If you need rate control, you need a different tool entirely: Wise converts automatically on arrival. If timing your conversion matters to you and for most businesses it should. Wise can't help with that regardless of the fee. Xflow's FX AI Analyst lets you set a target rate and auto-converts when the market hits it.
Why businesses choose Xflow
Here’s why 12,000+ Indian businesses have switched to Xflow and you should too.
The fees are 5x lower than Wise:
Xflow's Growth plan is 0.4% on invoices above $5,000. Wise is ~2%. On a $5,000 invoice: $20 vs $103. Over a year for a business doing $10,000/month: Xflow costs ~$480, Wise costs ~$2,400. That's a ₹1.6 lakh difference.
You control when you convert:
With Wise, your dollars convert the moment they land. With Xflow, you hold your foreign currency balance and convert when you're ready — 24x7, at a rate you can see before you confirm.
Next-day settlement, with tracking:
Xflow settles by noon on the next business day while Wise may take 1–3 days.
Works for every Indian business type:
Wise is restricted to sole proprietors. Xflow supports freelancers, agencies, Private Limited Companies, LLPs, and funded startups. As your business structure evolves, Xflow grows with you.
AI tools that work for your FX:
Xflow's FX AI Analyst lets you set a target conversion rate. When the market hits it, Xflow converts automatically with no monitoring required. Customers have earned additional lakhs just by timing conversions smarter.
Compliance handled end to end:
Bank confirmation letters, SOFTEX support, EDPMS compliance - all handled. Your CA will thank you.
Why is calculating the fees important?
Most businesses track revenue. Only a few track what gets silently deducted before revenue reaches your bank account.
1. Wise is transparent about what it charges the fee is right there. The problem isn't that it's hidden. The problem is that 2% doesn't feel like much until you do the annual math. A business doing $100,000 a year in exports pays ~$2,000 to Wise in fees. At $500,000/year, that's $10,000 — roughly ₹8.3 lakhs, going to fees every year, not to your team, not to growth.
2. Over and above the fee, there's the cost of having no control over your conversion rate. If you're receiving $10,000 a month and the rate is 84 on the day your payment arrives instead of 86, that's ₹20,000 per month in lost FX earnings. With Xflow, you set a floor. Funds only convert when the rate meets your threshold.