Indian freelancers, agencies, software developers and exporters increasingly work with clients outside the country. Receiving payments in foreign currency can offer better control over revenue, cleaner documentation and sometimes better conversion rates. This is why virtual USD or EUR accounts have become popular. These accounts allow Indian users to receive money as if they had a local bank account in the United States or Europe.
This guide explains the best fintech platforms that provide these virtual accounts, what each one offers and what Indian users should consider before choosing a solution.
Why virtual foreign currency accounts matter
A virtual USD or EUR account gives you account details such as a bank account number and routing information. Clients in those regions pay you the same way they pay a local contractor. This solves many problems that Indian users face with international transfers.
- You avoid repeated conversion.
- You reduce dependence on slow wire transfers.
- You present your business more professionally to foreign clients.
- You can hold the money in foreign currency until you are ready to convert.
For many Indian businesses, this setup results in higher take home income and smoother compliance with export rules.
BRISKPE
BRISKPE is an India focused cross border payment platform designed for freelancers, exporters and service businesses who receive money from international clients. It provides virtual foreign currency accounts in USD, EUR, GBP, CAD, AUD and SGD so clients abroad can pay through familiar local banking routes.
BRISKPE uses a flat fee structure for account to account transfers. Payments up to 2,000 dollars carry a fixed fee of 16 dollars. Payments in the range of 2,001 to 10,000 dollars carry a fixed fee of 25 dollars. Payments above 10,000 dollars are charged at 0.25 percent of the transaction value.
There is no added forex markup because conversions are done at live interbank rates, which allows users to retain more of their final earnings compared to percentage based international gateways.
Settlements into Indian bank accounts usually complete within one to two business days, and the platform supports required export documentation such as inward remittance advice. This combination of transparent pricing, quick settlement and compliance support makes BRISKPE a practical option for Indian professionals who want reliable and cost efficient global collections.
Payoneer
Payoneer is one of the most widely used platforms for Indian freelancers and businesses. It provides virtual receiving accounts in USD, EUR, GBP and a few other major currencies. Clients can make payments through local bank transfers, which reduces friction and increases the chance of receiving payments on time.
Payoneer is supported by many marketplaces such as Upwork and Fiverr, which makes it even more convenient for freelancers. After receiving funds, you can withdraw to your Indian bank account in INR. The fees vary depending on how the payment arrives, but Payoneer is considered reliable and relatively easy to use.
Wise Business
Wise, formerly TransferWise, offers a multi currency account that includes receiving details for USD, EUR, GBP and several other currencies. Wise is popular because it uses the real mid market exchange rate, which means the conversion happens at a transparent rate without hidden markup. This can make a meaningful difference when receiving large invoices from international clients.
Wise is useful for users who work with clients in many countries and want to manage balances in different currencies. It also works well for those who want flexibility on when to convert money into INR. The platform is simple and avoids complex fee structures.
Skydo and similar India focused platforms
Skydo and a few other India centric platforms provide virtual bank accounts for USD, EUR and GBP specifically designed for Indian freelancers and exporters. These platforms focus not only on collection but also on regulatory requirements such as inward remittance documentation and purpose code classification.
For Indian users, this can be valuable because banks in India often ask for proof of export and inward receipts. Platforms that automatically provide FIRA or similar documentation remove administrative headaches. Settlement times are also structured with Indian regulations in mind.
Payment gateways that support multi currency acceptance
Some Indian payment gateways allow multi currency acceptance through checkout systems or payment links. This is different from providing a virtual account, but it meets the needs of businesses that want to collect international card payments.
Gateways like Razorpay or Cashfree offer international payment features, but they may charge higher fees compared to dedicated foreign account providers. They are useful for SaaS businesses or websites that need automatic billing, but may not always be the best option for freelancers or service exporters who want better control over conversion rates.
What to check before choosing a platform
Indian users should compare platforms on several important factors.
- Fees charged per transaction
- Currency conversion markup
- Speed of settlement to an Indian bank account
- Availability of FIRA or FIRC documentation
- Ease of onboarding for freelancers versus registered companies
- Whether clients can pay easily using their local bank
For many people, the FX markup is the biggest hidden cost. Even a small percentage difference in exchange rate can reduce income significantly when invoices are large.
Which platform suits which type of user?
A freelancer working with clients in the United States may find Payoneer more convenient because it offers easy USD receiving accounts and works well with global marketplaces.
A business that handles multiple currencies and wants transparent exchange rates may prefer Wise.
A service exporter who needs fast compliance, predictable fees and Indian bank settlement may choose an India focused platform such as Skydo or similar solutions.
Your choice depends on your volume, your client geography and whether compliance or conversion cost is your primary concern.
Why many Indian users still choose India specific solutions
While global fintech platforms offer convenience, they are not always aligned with Indian regulatory needs. Many freelancers and small businesses face difficulty obtaining FIRC, understanding purpose codes or dealing with FX losses. India focused platforms handle these parts more cleanly because they are built around local banking rules.
One such option is BRISKPE. It provides virtual foreign currency collection, zero FX markup, simple flat fees and fast settlement into Indian accounts. Since it is designed specifically for Indian exporters and freelancers, it also handles compliance documentation automatically.
If your goal is to maximise net earnings from international clients and reduce reliance on complicated foreign platforms, exploring BRISKPE is a practical step.
