Niyo Global card

what are the annual charges? 500 Rs?
How much % fees does it cost for cash removal on international ATM
Annual fees are 200 INR + taxes I believe but I got mine waived off as part of a campus offer.

By cash removal from international ATMs, they all have hidden charges (at least those that I have used) and charge much more than the displayed exchange rate. I haven't used the niyo card on an ATM but used my debit card on two euronet atm's and got completely ripped off .

Btw, if you need cash in destination countries, wouldn't it be better to go to a money broker and get it converted directly?
 
what are the annual charges? 500 Rs?
How much % fees does it cost for cash removal on international ATM
There are no joining / debit card issue / annual charges.

There is zero foreign currency markup charge. Means, whatever conversion rate you see on Google/XE, you pay that.

International ATM (Cash Withdrawal and Balance Enquiry) charges are Rs.100 per transaction.
 

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I have two IndusInd debit cards for the same account and both have 0% forex charges, the rates too being identical to what you would see on Google. Have been using those for several years now, so that too is an option. The benefit is of not having set limits and very liberal withdrawal charges when using abroad.
 
Annual charges are 200 INR, my friends got charged the same but the card was issued by DCB Bank. I see this PDF has niyo card issued by another bank, is it the same niyo global card?
Enjoy.jpeg
 
Just set up my account. everything went smoothly.
Card should come in a week's time.

So we preload the card in INR and then use it internationally for ATM transactions and it will deduct from the balance in INR?
How does currency rate get determined?

I guess DCB & IndusInd was their earlier partner banks and now its this SBM. Not sure how this bank is as I never heard of it.
I wonder why they are moving to different partner banks?
 
So we preload the card in INR and then use it internationally for ATM transactions and it will deduct from the balance in INR?
How does currency rate get determined?
Yes. Preload the card in INR and then use it internationally. They will charge Rs.100 per ATM transaction outside India. No charges for card usage at merchant outlet or online.

You can also use this card from your place in India to buy things from non-Indian websites like Amazon.com to avoid forex markup fee.

Currency rate is almost same as shown at google/ XE on the day of transaction.
 
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Yes. Preload the card in INR and then use it internationally. They will charge Rs.100 per ATM transaction outside India. No charges for card usage at merchant outlet or online.

You can also use this card from your place in India to buy things from non-India websites like Amazon.com to avoid forex markup fee.

Currency rate is almost same as shown at google/ XE on the day of translation.

Brilliant. Thanks :)
 
Yes. Preload the card in INR and then use it internationally. They will charge Rs.100 per ATM transaction outside India. No charges for card usage at merchant outlet or online.

You can also use this card from your place in India to buy things from non-India websites like Amazon.com to avoid forex markup fee.

Currency rate is almost same as shown at google/ XE on the day of transaction.
For currency rate you can check the visa site for exact exchange rate for that day. I also have the DCB which was initially when they launched....now they are changing and have heard that SBM is not that good.
 
@puns
Do let us know how your experience is with the SBM card.

Also, for cash withdrawals, if you have a rough estimate about how much you would be needing for your trip, going to a money broker might turn out cheaper though it might not be exactly travel friendly, convenient or safe to carry large wads of cash around in one go.
 
Just set up my account. everything went smoothly.
Card should come in a week's time.

So we preload the card in INR and then use it internationally for ATM transactions and it will deduct from the balance in INR?
How does currency rate get determined?

I guess DCB & IndusInd was their earlier partner banks and now its this SBM. Not sure how this bank is as I never heard of it.
I wonder why they are moving to different partner banks?
It is State Bank of Mauritius and it seems now it solely exists to be the banking partner of all the fintech firms. Uni, Slice, LazyPay, Niyo and may be others are issued by SBM because they charge the lowest commissions.

The problem with these fintech firms is that they take no accountability and are just an intermediary, so in case of fraud, they will just redirect you to the bank and then it is anyone's guess how SBM handles the complaints from these firms.
 
how you did it ? can you guide.
Im redirected to aple store in browser with this message: -


am i engaging in the correct site - https://www.goniyo.com/global/ ?


I applied for the car using the app and got it 3 days back. I did load 5000 Rupees. I have an upcoming international trip, hence I got this.
As far as what I understood, we just have to load money in the account, in INR and spend in destination country. I have never used so I will get to once I do. May be I will also try on some website here as well just to see how it works.
The only thing which will pinch me is that since it is debit card, I have to load money and spend so basically not like credit card where I can afford to go over what I have, if absolutely needed (I never, but good to have option).
I just hope the ATM withdrawal works as advertised as sometimes, especially where I am going (Dubai), I may be situation where I can get better deal on something if I don't swipe card and instead pay cash.
 
I applied for the car using the app and got it 3 days back. I did load 5000 Rupees. I have an upcoming international trip, hence I got this.
As far as what I understood, we just have to load money in the account, in INR and spend in destination country. I have never used so I will get to once I do. May be I will also try on some website here as well just to see how it works.
The only thing which will pinch me is that since it is debit card, I have to load money and spend so basically not like credit card where I can afford to go over what I have, if absolutely needed (I never, but good to have option).
I just hope the ATM withdrawal works as advertised as sometimes, especially where I am going (Dubai), I may be situation where I can get better deal on something if I don't swipe card and instead pay cash.
Keep your fingers crossed, the forum itself has a lot of issues posted, including withdrawals not working. So, may be you can share your experience once you are back.
 
@raksrules
As a backup, you may consider purchasing USD in India and convert them to Dirhams when you land. There are currency exchange shops every 10 meters in Dubai.
Is it really worth the effort? I mean INR -> USD -> AED ? Why not only INR -> AED ? Genuinely curious. I know long back also people used to me what you told here.
Keep your fingers crossed, the forum itself has a lot of issues posted, including withdrawals not working. So, may be you can share your experience once you are back.
Damn. After reading all that, feels like it is better to eat the forex markup charges by spending from a reputed bank's credit card.
 
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