Central Bank of India vs Yes Bank Forex Rates: Which Is Better for Exporters in 2026?
Both banks publish a card rate, and neither one is what lands in your account. See the real rate each bank applied to exporter transfers, side by side, and what the same invoice is worth on Skydo.Live FX rate: 1 USD = 95.73 INRUSD
Amount billed$10,000.00
₹9,54,024INR
| Transfer Via | Exchange rate | Converted amount |
|---|---|---|
 | INR 93.5761 | INR 9,31,233.85You lose: 2.7% ↓ |
 | INR 93.8154 | INR 9,34,631.14You lose: 2.4% ↓ |
 | INR 95.7300Live Mid Market Rate | INR 9,54,024.12 |
On every $10,000.00 invoice, you keep ₹22,790 more with Skydo
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ISO: 2022 CertifiedCentral Bank of India vs Yes Bank: understanding the key differences for exporters
While both Central Bank of India and Yes Bank let Indian exporters receive international payments, they differ in the rate applied, the fees taken before the money lands, how you get your FIRA, and how much room you have to negotiate. Here is how they compare side by side.| Features | | |
|---|---|---|
| Forex markup | Typically there is a 2-2.5% markup from the mid market rate. | Around 2% markup from the mid-market rate |
| Transfer and processing fees | Own commission 0.10% (min Rs 500, max Rs 5,000) per remittance, plus ~$30 correspondent deduction | In practice a commission in lieu of exchange applies, 0.125% of the bill amount or minimum Rs 1,000 whichever is higher. Correspondent banks also deduct roughly $15-30 in transit |
| How you settle the remittance | Verify with your branch manager that the account is eligible for receiving international payments. For every incoming international payment, you may be asked to furnish documents for proof of legitimacy with the particular bank branch, then the transaction will be processed | Register a standing instruction for inward remittances with your purpose code, so future credits are processed automatically. Yes Bank reserves the right to call for documents on any specific transaction |
| Time to credit after you submit | 2 to 3 working days by SWIFT, 3 to 5 days is common | Credit typically in 2 to 4 working days |
| FIRA and e-FIRC | e-FIRC is available but at Rs 500 flat per transaction, or FIRC on security paper/letterhead Rs 250 per certificate | e-FIRC issued on request per transaction. It can cost upto Rs.800. Free on select accounts such as YES Premia |
| Currencies you can receive in | Major currencies (USD, GBP, EUR, AUD, and others via nostro correspondents), verify from CBI schedule | All the major trade currencies through the SWIFT network. |
| Compliance tracking | Reach out to the Relationship Manager with help in managing compliance questions | Status tracked through YES Transact or your RM. A standing instruction reduces per credit paperwork but the bank can still hold a credit for documents or a purpose code query |
| Best suited for | Exporters who already bank with CBI and receive rarely (<$500/mo) | Exporters already banking with Yes Bank, MSMEs using the TradeBiz or GST ready current accounts |
Central Bank of India vs Yes Bank Bank exchange rates, fees and hidden charges
Three things decide what actually reaches your account: the markup buried in the rate, the fees taken before the money lands, and the charges that only appear on your statement afterwards.Exchange Rates
Fees
Hidden Charges
Central Bank of India card:- CBI has three separate rates: TT buying when you receive, TT selling when you send, and bill rates for cheques and documents
- Your inward payout is set by the TT buying rate, which has a 2-2.5% markup with the mid market rate
- CBI revises its rate sheet several times through the working day, so a morning quote is stale by the time your credit settles
- On a $5,000 credit that TT spread alone is roughly Rs 4,000 to Rs 11,000, before any commission or FIRC fee
- The applied rate only appears on your FIRA, compare its exchange rate field against the mid-market rate that day
YES Bank card:- Yes Bank converts inward payments at its card rate, which carries a markup of about 2% against the live mid-market rate
- Card rates apply only up to USD 25,000 or equivalent per Yes Bank's own daily FX card rate sheet. For amounts beyond that you must contact the Branch or RM for a quote.
- The rate depends on transfer amount, account type, your relationship with the bank
Keep ₹22,790 more on a $10,000 invoice by bypassing Central Bank of India and Yes Bank with Skydo.
International payments carry hidden costs from the markup baked into your bank rate and the fees deducted before the money lands. Use the tool below to see what each bank leaves you on the same invoice, and what you keep with Skydo.You keep with Skydo₹9,54,0242.25% markup₹9,31,2342% markup₹9,34,6310% markup₹9,54,024
Money transferUSD 10,000
$500$10K$100K$1M
2.25% markupExchange rate93.58
SWIFT fee₹2,807
Documentation fee₹500
Platform fee₹957
GST (18%)₹262
You receive₹9,31,234
2% markupExchange rate93.82
SWIFT fee₹2,111
Documentation fee₹0
Platform fee₹1,197
GST (18%)₹215
You receive₹9,34,631
0% markupExchange rate95.73
SWIFT fee₹0
Documentation fee₹0
Platform fee₹2,776
GST (18%)₹500
You receive₹9,54,024
Central Bank of India vs Yes Bank: understanding the key differences for exporters
While both Central Bank of India and Yes Bank let Indian exporters receive international payments, they differ in the rate applied, the fees taken before the money lands, how you get your FIRA, and how much room you have to negotiate. Here is how they compare side by side.| Features | | | |
|---|---|---|---|
| Forex markup | Typically there is a 2-2.5% markup from the mid market rate. | Around 2% from the mid-market rate | Zero, live mid-market |
| Rate you are quoted | Differ from published rate, please verify from your FIRA | Card rate applied, differs from published indicative rate, verify from your FIRA | Same rate for everyone, shown before you receive |
| Transaction fee | Correspondent banks take $30-50 from transaction | Commission in lieu of exchange 0.125% min Rs 1,000 applies, plus GST | $19 up to $2k, $29 up to $10k, 0.3% above |
| Cost on a small invoice | Fixed deduction plus an FX markup increasing overall cost | FX markup plus a minimum Rs 1,000 commission means small invoices lose a far higher share | Flat $19, the share falls as the invoice grows |
| Settlement time | 2 to 3 working days by SWIFT, 3 to 5 days is common | 2 to 4 working days by SWIFT, credits can stay pending during compliance checks | 24 hours |
| FIRA | e-FIRC is available but at Rs 500 flat per transaction, or FIRC on security paper/letterhead Rs 250 per certificate | e-FIRC to EDPMS on request, charged per certificate, up to 7 to 10 days to process | Free, instant, one per payment |
| Who it suits | Exporters who already bank with CBI and receive rarely (<$500/mo) | Exporters already on YES Bank with negotiated rates | Exporters receiving $2,000 or more a month |
See what our clients say about us
Quotes paraphrased from public G2, Trustpilot, and Reddit threads from Indian exporters.100+ reviews
"I want to spend my time growing my business, not negotiating exchange rates every time I make an international payment. The process should be simple and predictable."
AbhishekCEO, Aidetic"We banked with the same private bank for nine years and never questioned the rate. When we checked one month of FIRAs against mid-market, the spread was larger than our entire logistics bill."
"Every payment meant a form, a follow-up for the FIRA, and a call to the relationship manager to find out where the money was. Now it just arrives and the certificate is already there."
Frequently Asked Questions
Which bank has better forex rates for exporters, Central Bank of India or YES Bank?
Central Bank of India: Typically there is a 2-2.5% markup from the mid market rate. YES Bank: Around 2% markup from the mid-market rate Neither bank converts at the live mid-market rate, so compare the rate on your FIRA against the mid-market rate for that day to see what you actually paid.What fees do Central Bank of India and YES Bank charge on inward remittances?
Central Bank of India: Own commission 0.10% (min Rs 500, max Rs 5,000) per remittance, plus ~$30 correspondent deduction YES Bank: In practice a commission in lieu of exchange applies, 0.125% of the bill amount or minimum Rs 1,000 whichever is higher. Correspondent banks also deduct roughly $15-30 in transitHow long does an international payment take with Central Bank of India vs YES Bank?
Central Bank of India: 2 to 3 working days by SWIFT, 3 to 5 days is common YES Bank: Credit typically in 2 to 4 working daysHow do I get a FIRA or e-FIRC from Central Bank of India or YES Bank?
Central Bank of India: e-FIRC is available but at Rs 500 flat per transaction, or FIRC on security paper/letterhead Rs 250 per certificate YES Bank: e-FIRC issued on request per transaction. It can cost upto Rs.800. Free on select accounts such as YES PremiaWho is Central Bank of India best suited for, and who should pick YES Bank?
Central Bank of India suits: Exporters who already bank with CBI and receive rarely (<$500/mo). YES Bank suits: Exporters already banking with Yes Bank, MSMEs using the TradeBiz or GST ready current accounts.Is there a cheaper alternative to Central Bank of India and YES Bank for receiving export payments?
Skydo converts at the live mid-market rate with zero forex markup and a flat fee: $19 up to $2,000, $29 up to $10,000, and 0.3% above that. There is no correspondent deduction because you receive into a local account abroad, settlement takes 24 hours, and a FIRA is issued free with every payment.Ready to Save More on International Payments?
Start receiving global payments with Skydo and keep more of what you earn.Bengaluru, Karnataka
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