Best provider today
SBI₹1,00,000 to USD · Generic outward remittance / LRS
Wise vs SBI: Which Gives You More USD?
Compare Wise and SBI by the number that matters most: how much USD your recipient is estimated to get. Either provider can be better depending on amount, fees, and the rate used.
Wise vs SBIRecipient gets
$1,030.76Total estimated cost
₹1,746.63Payout comparison
SBI gives $3.48 more than WiseLast updated timestamp
6 Jun 2026, 2:15 pm ISTSome banks may provide a higher estimated payout than Wise for this amount. Rankings are based on estimated recipient amount, not the headline rate.
Provider rankings change with transfer size
A provider that wins for ₹50,000 may not win for ₹8,00,000 or ₹24,00,000. Fixed fees, rate markups, and taxes affect each provider differently.
Best payout today
SBI
Recipient gets:
$1,030.76
The amount your recipient is estimated to receive.
Why it ranks first:
- ✓Lower total fees
- ✓Better effective rate
- ✓Higher recipient payout than Wise
Wise vs SBI Comparison
Default example: Amount ₹1,00,000, currency USD, purpose generic outward remittance / LRS.
| Provider | Effective rate | Provider fee | Rate markup | Estimated GST | Total estimated cost | Recipient gets | Payout insight |
|---|---|---|---|---|---|---|---|
SBIBank
|
97.02 | ₹953.29 | ₹441.75 | ₹351.59 | ₹1,746.63 | $1,030.76The amount your recipient is estimated to receive. | SBI gives $3.48 more than Wise |
|
WiseFintech
|
97.34 | ₹1,577.57 | ₹0 | ₹463.96 | ₹2,041.53 | $1,027.28The amount your recipient is estimated to receive. | Wise gives $3.48 less than SBI |
SBIBank
Recipient gets
$1,030.76
The amount your recipient is estimated to receive.
SBI gives $3.48 more than Wise
Effective rate97.02
Provider fee₹953.29
Rate markup₹441.75
Estimated GST₹351.59
Total cost₹1,746.63
WiseFintech
Recipient gets
$1,027.28
The amount your recipient is estimated to receive.
Wise gives $3.48 less than SBI
Effective rate97.34
Provider fee₹1,577.57
Rate markup₹0
Estimated GST₹463.96
Total cost₹2,041.53
Indicative estimates only. Final amount may vary based on time. Excludes TCS and correspondent bank charges.
GST is an estimate based on Rule 32(2)(b) slab method and fixed bank fees; final GST may vary by provider valuation method, and the provider's final invoice is authoritative.
Why Prism FX compares Wise and SBI this way
We rank providers by the estimated USD your recipient gets. A better-looking rate can still lose once fees and taxes are included.
That is why the top row is the provider estimated to send the most money to the recipient.
Best Option for ₹1,00,000 USD Transfer
For this snapshot, SBI sends the most estimated USD: $1,030.76. This can change when rates refresh or when you change the transfer amount.
Detailed Cost Breakdown
The total cost combines visible fees, rate markup, estimated tax, and the effect of the conversion rate. The final USD payout is the number to compare.
Why Banks May Beat Wise
- 1Wise fees may scale with transfer amount.
- 2Banks may have lower fixed fees for some outward remittance amounts.
- 3Banks may quote different TT sell rates at different times.
- 4Estimated GST and forex spread can change the effective cost.
- 5The best provider depends on amount, currency, and timing.
What Is Included in This Comparison
Wise
- ✓Transparent quoted fee
- ✓Live quote estimate
- ✓Fast digital experience
- ✓Some India-specific taxes may be shown as estimates
Banks
- ✓TT sell rate
- ✓Fixed fee
- ✓Estimated GST
- ✓May require branch/RM process
- ✓Possible correspondent charges
FAQs About Wise vs Bank Forex Rates
Is Wise always cheaper than Indian banks?
No. Wise may be convenient and transparent, but some Indian banks can provide a higher estimated recipient amount depending on transfer size, effective rate, fees, and Estimated GST.
Why can banks beat Wise?
A bank may charge less or use a better conversion rate for a specific amount. The best option is the one that sends the most money to the recipient.
Does the Wise quote include Estimated GST and TCS?
Wise may not show every India-specific tax separately in public quote details. Prism FX estimates GST where possible. TCS depends on your transfer purpose and LRS usage.
What is the best way to compare Wise and banks?
Compare the estimated recipient amount after effective rate, fees, Estimated GST, and known charges.
Are these rates final?
No. Rates are indicative and may change before transfer confirmation.