What is a Niyo Card? Your Gateway to Financial Comfort

In today’s globally connected world, travelling abroad for work, study, or leisure has become more common than ever. To meet the increasing demand for convenient and cost-effective banking solutions, Niyo Global has emerged as a trustworthy international travel card that thousands of people use. This guide covers what is Niyo Global Card and the various benefits, features, spending limits, and steps to open a Niyo digital account, making handling payments in foreign currency a breeze while travelling internationally.

About Niyo card

The Niyo card is a zero forex markup smart travel card for the new generation of global travellers. It eliminates the major pain points they encounter with handling foreign currency during their travels. It’s an INR-based card accepted globally in 180+ countries, including India.

Niyo card offers the best acceptance rate for 130+ currencies and the perfect combination of benefits of a debit card and a Forex card in a single travel card without any extra charges. The integrated Niyo app lets you manage your card on the go, along with a whole lot of nifty features so you can effortlessly manage your account no matter where you are in the world.

Additionally, other Niyo card benefits make it perfect for international travel. The best part of the card, apart from the zero forex markup, is that you never have to worry about converting INR to any other currency; the card does it automatically with every purchase! So whether you plan to travel or just want to purchase from an international site right here in India, the Niyo card gets the job done easily. Find out why the Niyo card is the best travel card for international travel. It’s also one of the best options for a business travel card and outbound students heading to international universities.

Features of Niyo card

The DIY Niyo digital savings account is feature-packed to make payments in foreign currency a breeze. Most of these features are the Niyo card benefits that set it apart from the rest.

• Zero forex markup card with VISA exchange rates
• Free lounge access at 1300+ airports abroad on international spends (only ECOM & POS) of INR 50,000 per quarter
• Load money in INR via IMPS/NEFT/UPI and use in 180+ countries to transact in 130+ currencies
• Earn 1% cashback as global coins on domestic spends with the Niyo credit card
• Card delivered in 3-5 days
• 24×7 in-app live chat support
• Up to 8% interest p.a.# on savings account
• Integrated Niyo app to manage card and account
• Real-time in-app Currency Convertor
• In-app surcharge-free ATM locator
• Tap & Pay card for contactless payments
• Reset PIN on the go
• Lock/Unlock/Block card via app
• Manage Card Limits on payment channels via app
• 100% Digital onboarding
• Zero balance account#
• Real-time transaction updates
  # T&C apply

Niyo card charges

• There are no charges for opening an account
• No charges for ordering a physical Niyo card. However, an initial fixed deposit of ₹5,000 is required to initiate the secured credit card order (the amount can be used after placing the card order). Apart from that, the user doesn’t have to pay any other Niyo card charges.
• No charges for the convenience of foreign currency conversion. Only the VISA exchange rate applies to all transactions.
• Zero balance account#
• No charges for adding money to your account via NEFT/RTGS/IMPS/UPI
  # T&C apply

For more details, refer Schedules of Charges.

What is zero forex markup?

One of the prominent questions many users have is if there are any Niyo Global card charges for foreign exchange. When making payments in a foreign currency with any credit/debit card, the card-issuing bank usually charges a fee on the total transaction amount to provide convenience in currency conversion.

That is why many people prefer using the Niyo card for international transactions, PoS, online international shopping and paying for hotel accommodations, tuition fees, etc., as the cardholder pays no Niyo card charges.

You can also read: Niyo Card V/s Axis Bank Forex Card Charges: Which Will Win Your Wallet?

What is VISA exchange rate?

It’s the rate at which VISA converts money from one currency to another. The rate applies to the date the transaction is processed by VISA, which may differ from the actual date of the transaction.

Don’t let the questions stop you from enjoying the amazing benefits of Niyo. If you have any other questions, a quick chat with Niyo customer care can help you get the right solution.

Spending limits on Niyo card

The Niyo card comes with generous spending limits to suffice any global traveller’s needs.

Who can open a Niyo account?

Are you an Indian resident who is 18+ years old? Do you have your PAN, Aadhaar, Passport, and access to your Aadhaar-linked mobile number? Are you looking for the best Forex card in India? If you answered YES to all of these questions, look no further, Niyo is the perfect match for you!

You can download the Niyo app and sign up immediately without visiting a bank branch. It’s all you need to take care of spending in foreign currency at the best possible rates.

Note: You can open a Niyo account even if you are an existing customer of SBM Bank (India) Ltd.

Steps to open a Niyo account

Opening a Niyo account through the app is quick, easy and 100% digital. Just follow these simple steps:

1. Download the Niyo app for Android or iOS
2. Enter your mobile number and validate it by entering the OTP you receive on your mobile number
3. Enter your Email address and validate it by a Single Sign-on or by entering the OTP you receive on your Email ID
4. Enter your passport File Number (usually found at the bottom of the address page or last page of the passport)
5. Your passport number is verified
6. Enter your PAN
7. Enter your Aadhaar Number and fill in the OTP received on your Aadhaar-registered mobile number to complete your Aadhaar-based KYC
8. To confirm your identity, we will make sure your PAN and Aadhaar details match
9. Update your Personal Details
10. Select your Communication Address (where you want your card to be delivered)
11. Add a Nominee. (Make sure it’s someone you trust)
12. Capture your live photo
13. Complete your 3-minute Video KYC (VKYC) within the app. Once KYC is approved, your digital savings account with the partner bank will be ready.
14. Accept the Terms and Conditions, and your account will get created instantly
    Note: Based on the partner bank you choose, the order of the above steps may vary slightly.

Wrapping It Up

Embarking on international trips is undeniably exciting, but unexpected financial surprises can turn the excitement into a nightmare. Fear not, as Niyo can be your reliable companion, ensuring your international journeys are smooth and worry-free. Whether you’re exploring one country or hopping across multiple destinations, Niyo is the banking partner you can trust. Niyo isn’t just a card; it’s your travel companion, offering simplicity, convenience, and a range of benefits. Make your international journeys memorable and stress-free with Niyo – your trusted partner on the road.