How Wise Works in India: Features, Fees, Limits, and Getting Started

If you've ever paid university fees abroad, received freelance income from another country, or planned an international trip, you may have come across Wise. Wise is an international financial platform for sending, spending, and receiving money internationally at real mid-market exchange rates. In this guide, we’ll walk you through how Wise works in India—from making cross-border transfers and using the Wise Travel Card to receiving funds from abroad, alongside key fees, transfer limits, and KYC requirements you need to know.

What Is Wise?

Founded in 2011, Wise is a global financial technology company specialising in international money transfers and multi-currency account management for over 18 million customers worldwide.

In India, Wise provides a regulated digital infrastructure under Reserve Bank of India (RBI) guidelines. Depending on your account type, you can use Wise in India to:

• Send money abroad: Transfer Indian Rupees (INR) to over 90 destination currencies using the mid-market exchange rate without foreign exchange markups, with low and transparent fees.
• Spend abroad: Use the Wise Travel Card to pay and withdraw cash in over 150+ countries. Per RBI rules, the card is for foreign travel and cross-border transactions.
• Receive Payments: Indian freelancers, exporters, and businesses can collect payments from overseas in 23 currencies (including USD, EUR, GBP, and AUD) with Wise Business. Funds automatically convert to INR and deposit into your local bank account alongside a digital e-FIRC for tax compliance.

How Is Wise Regulated in India?

Wise operates in India through regulated entities and local banking partners.

• Wise Payments India Private Limited is licensed by the Reserve Bank of India (RBI) as a Payment Aggregator - Cross Border (Inward) for eligible international business payments.
• Vaho Forex Private Limited holds an RBI Authorised Dealer Category II (AD-II) licence for permitted outward remittances and forex card services.
• Wise UK works with local banking partners to provide RBI-approved inward remittance services to India.

How to Open a Wise Account in India

Opening a Wise account is free and can be done entirely online, without visiting a branch.

Step 1: Create your account

You can sign up using:

• Email address
• Google account
• Apple ID

Choose India as your country of residence during registration.

Step 2: Complete KYC verification

Before you can send or receive money, Wise needs to verify your identity. This is a legal requirement under RBI rules, known as KYC (Know Your Customer).

1. Choose your PAN verification method: Select either your original physical PAN card or e-PAN on the Complete your Video KYC page.
2. Provide your PAN: If using a physical PAN card, keep the original ready for the video call. For e-PAN, upload a full-size JPG or PNG screenshot of the e-PAN downloaded from the Protean website.
3. Verify your identity: Continue to IDfy, Wise's KYC verification partner, and capture your PAN details.
4. Verify Aadhaar: Select Verify with DigiLocker, sign in using your DigiLocker PIN, and allow your Aadhaar details to be verified.
5. Start Video KYC: Allow camera and microphone access and join the video call with a Wise agent.
6. Complete the video verification: You'll be asked to read a four-digit code shown on screen, show your physical PAN card if you selected that verification method, and take a live selfie.

See Wise's full guide to video KYC in India for the complete checklist. Once your PAN and Aadhaar details are successfully verified and the KYC is approved, your Wise account is ready for international transfers.

Step 3: Add your payment method

Once verified, you can fund transfers using:

• Bank transfer (NEFT/RTGS/IMPS)
• UPI (for eligible transfers)
• Debit card for selected currencies

The available funding methods vary depending on the destination currency and transfer amount.

💻 Open a Wise account

Using the Wise App

The Wise app lets you manage international transfers and other available Wise services from your phone. Once you've signed in and completed verification, you can:

• Send money abroad: Set up international transfers, enter recipient details, and pay in INR.
• Check rates and fees: See the current exchange rate, Wise's fee, and how much the recipient will get before confirming a transfer.
• Track transfers: Follow the status of a transfer and see its estimated arrival time.
• Manage recipients: Save recipient bank details for easier future transfers.
• Manage your Wise Travel Card: If you have a Wise Travel Card, you can load your card, view transactions, and access available card controls from the app.
• Review your activity: See previous transfers, payments, and transaction details in one place.

The Wise app is available for iOS and Android, so you can set up and manage transfers without needing to use the desktop website.

How to Send Money With Wise (Step-by-Step)

Unlike many traditional banks, Wise shows the exchange rate and fee before you confirm the transfer. The recipient does not need a Wise account. The money is sent directly to their bank account. Here’s how you can send the money:

1. Enter the amount

Choose how much you want to send in INR or the destination currency.

2. Select the recipient's country

Wise supports transfers to numerous countries, including the UK, USA, Singapore, Australia, Canada, and Europe.

3. Add recipient details

Depending on the country, you'll usually need:

• Full legal name
• Bank account number
• Bank name
• SWIFT/BIC or routing code where required

4. Review fees and exchange rate

Wise transparently displays the transfer fee, mid-market exchange rate, estimated delivery time, and total amount the recipient will receive—so you can review everything before you proceed.

5. Pay and track

After funding the transfer, you'll receive live updates until the money reaches the recipient.

Sending Large Amounts of Money With Wise

If you're making a large international transfer from India, keep the Liberalised Remittance Scheme (LRS) limit in mind. Under the LRS, resident individuals can remit up to USD 250,000 per financial year (April to March) for permitted current or capital account transactions. This overall limit applies across eligible overseas remittances made during the financial year, not just transfers through Wise.

If you're sending over 25,000 USD (or the equivalent) in a single transfer, Wise automatically discounts its fee, and that discount carries over to other transfers for the rest of the calendar month. Large transfers also come with dedicated support from Wise's team, who can help with any extra paperwork needed to show where your money is coming from, such as a bank statement, sale agreement, or salary slip. Read more about sending large amounts with Wise.

How Long Do Wise Transfers Take?

Delivery times depend on the destination currency, payment method, and verification status. Wise provides an estimated delivery time before you confirm the payment, and you can track progress throughout the transfer.

Spending Abroad With the Wise Travel Card

For spending abroad specifically, Wise offers the Wise Travel Card, a forex debit card you can load with 40+ currencies and use like a local wherever you travel.

Key benefits of the Wise Travel Card:

• Hold 40+ currencies, including USD, GBP, EUR, AED, and SGD, and spend a currency you hold for free
• Load funds using UPI or bank transfers at the interbank exchange rate, with a low, transparent conversion fee from 0.33%
• Free ATM withdrawals up to USD 200 per month; after that, a fee of USD 1.40 plus 3.25% of the amount over the limit applies
• Freeze or unfreeze the card instantly from the app if it's lost or misplaced
• Order up to three digital cards for extra security when spending online

Get a Wise Travel card 💳

Where to Use It?

You can spend with the Wise Travel Card in 150+ countries, anywhere that accepts Visa or Mastercard, and use it for online bookings, ride-hailing apps, and cash withdrawals abroad.

Restrictions: The Wise Travel Card can't be used for payments in India, Nepal, or Bhutan, or on websites that charge in Indian rupees, or Nepalese or Bhutanese currency. You can leave up to USD 2,000 on the card after your trip ends; anything above that must be withdrawn to a local bank account within 180 days.

Read the full guide on how to use the Wise Travel card for a complete walkthrough.

Receive Money From Abroad With Wise

Receiving money from abroad with Wise works differently in India depending on whether you're receiving a personal transfer or a business payment. For businesses and freelancers, Wise Business also offers dedicated features for receiving international payments and settling the funds in INR.

Do You Need a Wise Account to Receive a Transfer Sent With Wise?

No. If someone abroad sends money to your Indian bank account using Wise, you don't need a Wise account. The sender creates the transfer, and the money arrives directly in your bank account in INR after conversion.

How to Use Wise Business to Get Paid

Expanding a business globally opens up exciting opportunities, but also new challenges like receiving payments across borders. Hidden foreign transaction fees and hefty markups involved with international payments can eat into your profits and time.

Wise Business addresses this gap by enabling Indian businesses to receive money from abroad using local account details in supported foreign currencies. Conversions are offered at mid-market exchange rates with no hidden markups and a transparent upfront fee. Transform the way you receive global payments with Wise Business:

• Sign up for free to get account details in 23 currencies, including USD, GBP, EUR, and more.
• Leverage the account details to receive payments from global customers or online platforms like Amazon, Upwork, & IndiaMART.
• Receive international payments directly to your INR bank account at the mid-market exchange rate with no hidden fees or markups.
• No recurring fees or subscription charges.
• Get an automated eFIRC (Foreign Inward Remittance Certificate) for every transfer.
• Wise is safe and secure - Trusted by 16 million people and counting.

➡️ Learn more about Wise Business

Wise Fees and Limits in India

Wise doesn't charge monthly or account fees. You only pay for what you use, and every fee is shown upfront before you confirm a transfer, card top-up, or payment.

GST on Wise's fees is charged by the Indian entity handling the transaction, in line with Rule 32(2) of the CGST Rules, regardless of where the money is ultimately spent. Depending on the amount and purpose of your outward remittance, Tax Collected at Source (TCS) may also apply under Indian tax regulations. Read Wise's detailed guide to TCS on foreign remittances to check current rates, thresholds, and how to claim a refund.

Summary

If your goal is simply to send money abroad from India, Wise keeps the process straightforward. You complete KYC once, choose your destination currency, review the fee and exchange rate upfront, and track the transfer until it arrives.

For travellers, the Wise Travel Card offers a practical way to spend internationally without hidden exchange rate markups. And for businesses receiving overseas payments, Wise Business provides international account details, INR settlement, and e-FIRC support.

The biggest takeaway is transparency: you always see the exchange rate, the fee, and exactly what you're sending or getting.

🚀 Sign up for Wise account

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FAQ

1. Is Wise safe to use in India?

Yes. Wise is regulated through its local bank partner with RBI approval, and its forex card and outward remittance services are provided by Vaho Forex Private Limited, which holds an Authorised Dealer Category II licence from the RBI.

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Sources:

1. RBI India
2. CGST India