Best foreign currency accounts for freelancers in South Asia
Last update:
A look at the top foreign currency accounts that can help freelancers in South Asia receive international payments, hold balances and manage FX costs
Key takeaways
- Foreign currency accounts let freelancers receive, hold and spend currencies like USD, GBP and EUR without converting funds immediately into local currency
- Hidden FX markups, forced conversions and withdrawal charges can quietly reduce what freelancers actually receive from international clients and platforms
- Providers vary significantly on multi-currency support, with some offering USD-only accounts and others supporting 15+ currencies from a single account
- Some providers offer virtual cards linked to foreign currency balances, helping freelancers pay for SaaS tools without triggering repeated conversions
- The World Account offers local receiving accounts in 15+ currencies, virtual cards for business spending and free transfers between World Account holders
Whether you work directly with overseas clients or through platforms like Upwork and Fiverr, a part of your earnings can disappear through hidden FX markups, forced currency conversions, and withdrawal charges.
With foreign currency accounts, freelancers can receive payments in multiple currencies, hold those balances without needing to convert them immediately, and withdraw only when exchange rates are more favourable.
In this guide, we compare the best foreign currency account providers that freelancers across India, Pakistan, and Bangladesh can use for international payments.
1. WorldFirst
WorldFirst is an international payments provider that freelancers can use to receive, hold and spend foreign currencies
The World Account supports 15+ currencies including USD, GBP, EUR, CNH and AUD. Instead of converting payments immediately into local currency, freelancers can hold balances and convert funds later when exchange rates are favourable.
Beyond holding funds, freelancers can also use local receiving account details to collect payments from freelance platforms like Upwork, Fiverr and Toptal.
For freelancers paying for tools like Adobe, Figma, Notion or any other SaaS tools in USD, the World Card supports spending directly from foreign currency balances with fees when sufficient balance is held in that currency.
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*Fees checked in May 2026
2. Payoneer
Payoneer is a cross-border payments provider used by freelancers in India, Pakistan and Bangladesh to receive payments from international clients/platforms.1,3 It offers both personal and business accounts across South Asia.1 The accounts are mainly designed for receiving payments and do not support holding foreign currency balances.
Freelancers can receive payments in 9+ currencies.4 Conversion and withdrawal charges still apply depending on how and where funds are withdrawn. Users in India can also access Mastercard-powered cards for business spending, but each card supports only one of the four supported currencies.2 So, freelancers managing multiple currencies may need separate cards.
→ Read our full Payoneer review or compare the top Payoneer alternatives for South Asia.
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*Fees checked in May 2026. Fees may vary by region and account type
3. Wise
Wise is a global payments provider used by freelancers for international transfers and multi-currency payments.5
Wise Business is currently only available in India, where freelancers can receive international payments but cannot send any funds.5
Received funds are automatically converted into INR, so freelancers can’t choose the exchange rate or decide when to convert.
In Pakistan and Bangladesh, freelancers can only access personal Wise accounts, which allow them to send money abroad without any way to receive international payments.6,7
→ For a detailed look at Wise’s fees and availability across South Asia, take a look at our Wise Business review.
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*Fees checked in May 2026
4. Razorpay
Razorpay supports receiving international payments in India from overseas clients.10 Freelancers can accept payments in 130+ currencies through payment links and business accounts.10 However, additional FX charges apply and the platform does not currently support virtual cards for international spending.
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*Fees checked in May 2026
5. Elevate Pay
Elevate Pay is a payment provider offering local USD accounts for freelancers and remote workers in Pakistan and Bangladesh.14 Freelancers can receive USD payments from international clients through ACH and wire transfers and withdraw funds directly to their local bank accounts.15
However, Elevate Pay does not support multi-currency accounts or cards.
→ Take a look at our detailed Elevate Pay review
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*Fees checked in May 2026
Choose the right foreign currency account for your freelance business
For many freelancers in South Asia, getting paid internationally is still far more complicated than it should be. A client may send USD, but hidden FX markups, automatic conversions and withdrawal fees can quietly reduce what finally reaches your account. Foreign currency accounts help freelancers take back some control, whether that means holding USD longer or avoiding repeated conversion charges.
The right setup ultimately depends on how you freelance: the currencies you work with, the platforms you get paid through, how often you withdraw funds, and whether you want more control over when your earnings are converted into local currency.
FAQs
What is a foreign currency account?
A foreign currency account allows freelancers to receive and hold currencies like USD, GBP or EUR without immediate conversion into local currency.
Which foreign currency accounts support USD for freelancers?
Providers including WorldFirst support USD payment collections, though features can vary by market.
Can freelancers hold funds in multiple currencies?
Yes. Some providers offer multi-currency account functionality allowing users to hold balances across currencies before conversion.
Are there account opening fees for foreign currency accounts?
Many providers currently offer zero account opening fees, though FX charges and transfer fees may still apply.
Sources:
- https://www.payoneer.com/en-in/
- https://www.payoneer.com/en-in/resources/general-payments/cards/
- https://www.payoneer.com/en-in/freelancer/
- https://www.payoneer.com/en-in/about/pricing/
- https://wise.com/in/account/
- https://wise.com/us/send-money/send-money-to-pakistan
- https://wise.com/gb/send-money/send-money-to-bangladesh
- https://wise.com/in/pricing/business
- https://wise.com/in/pricing/
- https://razorpay.com/accept-international-payments/
- https://razorpay.com/pricing/
- https://razorpay.com/s/terms/partners/aggregator-and-platform/
- https://razorpay.com/accept-international-payments/bank-transfers/
- https://www.elevatepay.co/pakistan
- https://www.elevatepay.co/business
- https://help.elevatepay.co/hc/en-us/articles/18040869186833-How-does-Elevate-Pay-s-pricing-work
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
Author
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