Posted on February 06 2024
The Niyo Global Card, in collaboration with DCB, SBM, and Equitas Banks, revolutionizes international travel with their multi-currency functionality covering 150 international currencies. Offering zero forex markup fees, complimentary lounge access, and attractive savings rates, these prepaid cards are designed for the savvy traveler and students abroad. With benefits like zero issuance fees and comprehensive travel tools via the Niyo Global App, managing finances across borders has never been easier or more cost-effective.
Introducing the Benefits of the Niyo Global Card. The Niyo Global Card is a convenient and efficient way to manage your finances while traveling abroad. With this card, you can enjoy benefits such as easy currency conversion, access to global ATMs, competitive exchange rates, and the ability to load funds through a smartphone app conveniently. This card also offers security features like the ability to lock and unlock the card through the app, as well as the option to set spending limits. Additionally, the Niyo Global Card provides cashback and rewards on various transactions, making it a rewarding choice for international travelers. With its user-friendly features and wide acceptance, this card is a valuable tool for anyone looking to simplify their international spending and enjoy the perks of a global card.
The Niyo Global international debit card offers a range of features and benefits for convenient and secure international transactions. Some of the key features include zero forex markup, complimentary airport lounge access, and 24x7 in-app live chat support. This means that users can make international transactions without incurring foreign transaction fees, saving money while traveling. The card works in over 150 countries, allowing users to access their funds easily and conveniently across the globe.
To enjoy these benefits, users can download the Niyo Global app and onboard themselves for a hassle-free banking experience. The app provides a simple and efficient way to manage the card, track transactions, and access customer support whenever needed. With its user-friendly interface and comprehensive features, the Niyo Global app makes it easy for users to take advantage of the card's benefits and enjoy a seamless international banking experience.
To compare and evaluate competitive exchange rates for currency conversion with VISA, follow these steps:
1. Determine the current VISA exchange rate for the specific currencies involved in the transaction.
2. Note the date the transaction is processed by VISA, as this may differ from the actual date of the transaction. Fluctuations in the exchange rate between these dates could impact the final amount received.
3. Compare the VISA exchange rate with other sources, such as banks or online currency converters, to ensure competitive rates are being offered.
4. Consider any additional fees or charges associated with currency conversion, such as foreign transaction fees or ATM withdrawal fees.
5. Factor in the total cost of the currency conversion, including the exchange rate and any additional fees, when evaluating the competitiveness of the VISA exchange rates.
By considering the VISA exchange rate, the transaction processing date, and any potential additional fees or charges, you can make an informed decision when converting currency with VISA.
The Niyo Global Card offers complimentary airport lounge access at major international terminals in India such as Delhi, Mumbai, Chennai, Bangalore, and Hyderabad. In addition, the card provides access to lounges at popular international terminals abroad including Singapore, Dubai, London, and Frankfurt. Cardholders are allowed up to 6 complimentary lounge visits per year, with a nominal charge of $27 for additional visits.
The Niyo Global Card also offers additional perks such as priority pass membership, which is not available with the Forex Card. This allows cardholders to access over 1000 airport lounges globally. In contrast, the Forex Card offers limited lounge access at select terminals.
Overall, the Niyo Global Card provides extensive complimentary airport lounge access at both domestic and international terminals, making it a valuable choice for frequent travelers.
The Niyo Global Card is a modern and versatile financial tool designed to meet the needs of global travelers and individuals conducting international transactions. This card comes with a multitude of features that make it an essential companion for anyone traveling abroad or making frequent international purchases. The following headings will explore the various features of the Niyo Global Card, including its multi-currency support, competitive exchange rates, hassle-free online account management, and user-friendly mobile app. Additionally, we will delve into the benefits of its zero foreign transaction fees, worldwide acceptance, and robust security measures, making it a convenient and secure option for managing finances while abroad. Furthermore, we will highlight the unique perks such as the ability to earn cashback on international transactions, 24/7 customer support, and the flexibility to lock/unlock the card instantly via the app. Overall, the Niyo Global Card offers a comprehensive suite of features that cater to the diverse financial needs of global travelers and frequent international spenders.
The Niyo Global card offers both physical and virtual card options to its users. The physical card is a tangible card that can be used for in-store purchases, ATM withdrawals, and online transactions. It provides the convenience of a traditional debit card and is ideal for those who prefer a physical card for their transactions. On the other hand, the virtual card is a digital version of the Niyo Global card that can be used for online transactions and is accessible through the Niyo app.
Both the physical and virtual cards come with various features such as the ability to lock/unlock the card, track transactions in real-time, and set spending limits. Additionally, users can earn cashback and rewards on their transactions, enjoy zero forex markup fees, and access 24/7 customer support. The virtual card offers the benefit of instant issuance and can be used immediately after activation. It is also more secure as it eliminates the risk of physical theft or loss. In summary, the Niyo Global card provides flexibility and convenience to users with the option to choose between a physical card and a virtual card based on their preferences and needs.
Contactless payments allow consumers to make purchases by simply tapping their contactless-enabled card or mobile device on a payment terminal. This eliminates the need to physically swipe or insert the card, providing increased convenience and faster transaction times. The technology behind contactless payments is primarily based on NFC (Near Field Communication), which allows devices to communicate with each other when they are nearby. Many mobile wallets, such as Apple Pay, Google Pay, and Samsung Pay, also utilize NFC technology to enable contactless payments directly from a smartphone.
The popularity of contactless payments is rapidly growing, with a wide range of businesses now accepting this form of payment, including grocery stores, restaurants, pharmacies, and public transportation systems. Customers appreciate the ease and speed of contactless payments, making it an attractive option for both in-store and online purchases. With the added convenience of not having to carry physical cards, contactless payments are becoming the preferred choice for many consumers looking for a quick and easy way to make international payments.
To easily locate nearby ATMs for cash withdrawals using the banking app, follow these steps:
1. Open the banking app and select "ATM Locator" from the menu.
2. Input your current location or allow the app to access your location to automatically find nearby ATMs.
3. The app will display a list of nearby ATMs, including their addresses and distances from your location.
In addition to using the ATM locator, consider utilizing the cash-back option when making purchases at stores. This allows you to access cash without using an ATM.
Furthermore, to minimize trips to the ATM, consider withdrawing larger amounts less frequently. This can help you save time and eliminate the need for frequent visits to the ATM.
By following these steps and using the ATM locator feature, as well as considering alternative options such as the cash-back option and withdrawing larger amounts less frequently, you can easily access cash when needed and make the most of your banking app.
From zero forex markup to attractive interest rates on savings or fixed deposits, each card is tailored to enhance your entire card payments with global financial freedom and savings. Let's learn about the distinct advantages and financial obligations associated with each card variant offered by Niyo in partnership with SBM Bank, Equitas Bank, and DCB Bank:
| Feature/Charge | Credit Card (SBM) | Debit Card (Equitas) | Debit Card (DCB) | ||
| Forex Markup | Zero | Zero | Zero | ||
| Card Issuance Fee | None | ₹234.82 (Refundable) | ₹500 + GST (Waivable) | ||
| ₹300 + GST | ₹499 per transaction | ₹300 + GST | ||
| Annual Charge | None | None | None | ||
| Interest on Savings/FD | Up to 7.25% p.a. | Up to 7.8% p.a. | Up to 8% p.a. | ||
| TCS on International Spends | Zero | Zero Up to ₹7 Lakh | Zero Up to ₹7 Lakh |
Introduction
Acquiring a Niyo Global Card is an effortless way to manage your finances while traveling or making international transactions. With its seamless features and benefits, this card is an excellent choice for frequent travelers and those with international business needs. Here’s a simple guide on how to obtain a Niyo Global Card.
1. Visit the Niyo Global website
To obtain a Niyo Global Card, begin by visiting the official website of Niyo Global. From there, you can explore the features and benefits of the card and proceed with the application process.
2. Fill out the application form
Once you have familiarized yourself with the Niyo Global Card, you can fill out the online application form provided on the website. You will need to provide personal information such as your name, address, contact details, and identification documents.
3. Verify your identity
After submitting your application, you may be required to undergo a verification process to confirm your identity and address. This can be done through a video call or by uploading your documents online.
4. Load your card
Once your application is approved, you can load your Niyo Global Card with the desired currency and start using it for international transactions, online shopping, and ATM withdrawals.
Obtaining a Niyo Global Card is a convenient way to manage your finances and make hassle-free international transactions. With its easy application process and beneficial features, this card is a must-have for anyone with global financial needs.
To apply for a Niyo Global account, individuals must meet the eligibility criteria of being an Indian citizen or a resident, aged 18-65 years old and holding a valid passport. Required documents include a copy of the passport, a recent passport-size photograph, and proof of address, such as a utility bill or Aadhaar card.
The Niyo Global card can be used for various purposes, such as international travel, online transactions, and currency conversion. The account has a daily transaction limit of INR 2 lakh for ATM withdrawals and INR 5 lakh for POS transactions.
To sign up for a Niyo Global account, individuals can download the Niyo Global App and follow the registration process. Existing SBM Bank customers can also apply for the account through the bank's existing customer portal. The application process involves providing the required documents, completing the KYC process, and funding the account with the initial deposit.
The Niyo Global App is an essential tool for international travelers, packed with features to manage finances effortlessly. It allows you to lock, unblock, or block your card for enhanced security, alongside tools for VAT refunds, lounge locating, converting currency, and locating ATMs. Its user-friendly interface helps you monitor overseas spending and card payments with ease, ensuring transactions are smooth and secure. For a hassle-free connection to your finances wherever you go, download the Niyo Global App.
For students studying abroad, the Niyo Global Card helps them save on all spending abroad including online payments, ATM cash withdrawals, etc., offering a range of exciting offers tailored to their unique needs to provide a seamless global banking experience. With zero forex charges, students can save significantly on transaction fees. The card's zero TCS on spending up to ₹7 lakh further enhances savings, making it an ideal choice for flight bookings, covering tuition fees, accommodation, and international purchases. It also offers exclusive offers on leading brands, including flight and hotel bookings, rental cars, etc. Additionally, the instant reload feature ensures that students have immediate access to funds, a crucial benefit for managing finances in a foreign country, making the Niyo Global Card a smart choice for students aiming for financial savvy and security abroad.
The Niyo Global Cards, from partnerships with DCB, SBM, and Equitas Banks, are the ultimate travel companions for your forex transactions. These make spending abroad easy and affordable for frequent travelers, offering access to 150 currencies with no extra charges. Whether you're a student or a traveler, these cards provide luxury perks like lounge access and essential tools in the Niyo Global App for a worry-free journey. With Niyo, you're set for a seamless and smart way to manage your money, wherever your adventures take you.
The Niyo Global card can be used by all VISA-accepting merchants in more than 150 countries across the globe.
No, your money transfers via NEFT, RTGS, or IMPS, do not attract any additional cost when using the Niyo Global Card.
Yes, currency conversion charges are applied only once when loading the card with foreign currency. This one-time charge helps protect you from fluctuations in foreign currency rates throughout your travel abroad, ensuring more predictable and stable spending.
The Niyo Global Crad is extremely cost-efficient with zero forex charges, cashback on domestic spending, comprehensive travel tools in the Niyo Global App, complimentary lounge access, and concierge services without any additional charges.
The Niyo Global Card has set certain transaction limits: daily ATM withdrawals are capped at INR 1,00,000, while POS and online transactions have a limit of INR 7,50,000. Contactless payments are limited to INR 5,000 per transaction. Daily Fund transfer limit of INR 10,00,000 and fund transfers within a 30-minute cooling period are limited to INR 25,000, and INR 5,00,000 outside this period.
The Niyo Global Card is exclusively offered to only Indian passport holders.
Your money is insured up to ₹5 Lakh by the Deposit Insurance Scheme, which is insured by DICGC, a wholly owned subsidiary of the Reserve Bank of India (RBI).
Yes, you can earn up to 1% cashback on domestic spending and collect Global Coins on foreign currency transactions with international merchants.
No, it's not mandatory to maintain a specified monthly balance as its a zero-balance savings account.
First, log into the Niyo Global app and select the "Add Money" option. Now select the payment method, UPI or Bank Transfer. For UPI, enter the amount and complete the transaction through your UPI app. For Bank Transfer, add your Niyo Global account as a beneficiary in your bank account and proceed with NEFT or IMPS. Once the transaction is successful, you'll receive a confirmation on your mobile and email, and you can immediately see the updated balance in your app.