Comparing platforms to receive foreign currency as an individual

calvin1719

calvin1719

Mostly harmless.
Adept
Does anyone have any experience with using platforms like Cashfree, Paypal, Wise, etc. to receive forex payments? I ask this as an individual (not a registered business) expecting to receive some regular amounts for freelance/contract payments.

How do the fees and ease of use and lack of potential hurdles with these platforms compare to directly getting the transfer to my bank account? How does the forex rate compare?
 
PayPal is best and without headaches
They do charge fee but it's pretty nominal.
Once you get a PayPal account after sharing your pan and bank details, that's all.
The amount received will be automatically Transferred to your attaced bank account within 2 to 5 days..
Keep details and receipts handy while filing ITR.

Edit :
Please note that apart from automatic Transfer to your bank account the PayPal funds can't be used for anything at all..
If you attach a credit card or debit card to your PayPal account then purchases can be done online but the transferred funds can never be used for anything other than automatic withdrawal..
 
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