Niyo Global card

solo_wing

Adept
Hi guys,
I believe this card comes highly recommended by many for having zero or very low exchange fees.

can some who has share how he applied?
Is there any annual fees?
Do I have to maintain savings account to get the card?

please share your experience.
Thank you.
 

letmein

Adept
1) Go to their website and apply. I guess they may check your CIBIL and other scores before approving you.
2) They didn't have when they started, now they have Rs. 200 + GST per annum. Check here for the other fees and charges.
3) Yes, but this account can be with any bank since you will transfer money from your account to load the card. If you meant do you need to open an account specifically with NiyoEquitas, then no.

Anyways, I cancelled my card several months back when they levied the annual charges since I'm not travelling due to corona.
 
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solo_wing

Adept
letmein said:
1) Go to their website and apply. I guess they may check your CIBIL and other scores before approving you.
2) They didn't have when they started, now they have Rs. 200 + GST per annum. Check here for the other fees and charges.
3) Yes, but this account can be with any bank since you will transfer money from your account to load the card. If you meant do you need to open an account specifically with NiyoEquitas, then no.

Anyways, I cancelled my card several months when they levied the annual charges back since I'm not travelling due to corona.
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Thanks for sharing information.
 

booo

BA BA BA BABANANA
Skilled
the best experience that i ever had was with citibank account. just go to any citibank atm and withdraw money in that country’s currency. no charges at all and best rate available.
 

rockyo27

Adept
booo said:
the best experience that i ever had was with citibank account. just go to any citibank atm and withdraw money in that country’s currency. no charges at all and best rate available.
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Now they are closing
Niyo is good....can use it for international tx also online and charges are nil for that......200 charges can also be reversed after certain amount of tx...that need to be checked
 

Muathaz

Disciple
I just received my Niyo Global SBM zero markup forex card today. Applied on 15th september. It is a zero balance card. To order a physical card you should transfer 5k rs at the time of order to the account and right after ordering it you can transfer back the amount.

Go to their website and download their app (have to register for beta testing). App works really good as of now though, no idea why still in beta.

First I got an error stating my CKYC details are not there in the database. I emailed Zerodha and they updated it. Took a few days. Except this applying for it was a breeze.

Before this they had Niyo Global IDFC card which I believe is no longer available.

edit: anyone can apply for it. CIBIL and other scores are not checked.
 

solo_wing

Adept
I got the card as well.
As Muathaz explained. The process is exactly like that.

I already made some international transactions and I see I am saving lot of money with this.
 

skoka123

Adept
I have applied for it June/July. I got a call from them that they currently are short supply. There is a wait period and that I should get it in 15 days. So far, I have not heard back from them.
 

solo_wing

Adept
skoka123 said:
I have applied for it June/July. I got a call from them that they currently are short supply. There is a wait period and that I should get it in 15 days. So far, I have not heard back from them.
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Just follow the instructions on the App.
 

mannrak2003

Disciple
Muathaz said:
I just received my Niyo Global SBM zero markup forex card today. Applied on 15th september. It is a zero balance card. To order a physical card you should transfer 5k rs at the time of order to the account and right after ordering it you can transfer back the amount.

Go to their website and download their app (have to register for beta testing). App works really good as of now though, no idea why still in beta.

First I got an error stating my CKYC details are not there in the database. I emailed Zerodha and they updated it. Took a few days. Except this applying for it was a breeze.

Before this they had Niyo Global IDFC card which I believe is no longer available.

edit: anyone can apply for it. CIBIL and other scores are not checked.
Click to expand...
Do we also need a passport for applying for the card ?

I have a CKYC number from August 2018 ......

I received the same error on applying on the Niyo app ,i.e

"We cannot create your account​

You did not meet the outlined CKYC conditions.
i) At least one full CKYC entry
ii) Full CKYC update needs to be less than 4 years old."

Even there customer care numbers are not responding .. I called them many times on 1860 258 6496 ?
 

puns

Staff member
Super Mod
So what's the word on Niyo? Any first hand experiences lately?

Just need to preload a card and remove cash in destination countries at lowest possible rates. just once or twice
 

dindadoila

Recruit
puns said:
So what's the word on Niyo? Any first hand experiences lately?

Just need to preload a card and remove cash in destination countries at lowest possible rates. just once or twice
Click to expand...
Still going strong, used it for a couple of weeks last month in France. The annual charges are a bummer though! But, it offers the best rate that I know of in terms of mark up for forex.
 

rockyo27

Adept
puns said:
So what's the word on Niyo? Any first hand experiences lately?

Just need to preload a card and remove cash in destination countries at lowest possible rates. just once or twice
Click to expand...
I have it for like 3 yrs now.....got it after my last foreign visit in 2019.....after that couldn't go anywhere due to lockdown.....might go next year and then wud know of it's use there...but have done multiple international transactions and it really doesn't charges anything extra above the market rate.
 

AgentBane

Disciple
rockyo27 said:
I have it for like 3 yrs now.....got it after my last foreign visit in 2019.....after that couldn't go anywhere due to lockdown.....might go next year and then wud know of it's use there...but have done multiple international transactions and it really doesn't charges anything extra above the market rate.
Click to expand...
I am planning to buy some things from Aliexpress to US but want to use one of my friends Niyo card so what will be the max charge which I get for it ? Also is this something different like normal credit card ?
 

solo_wing

Adept
puns said:
So what's the word on Niyo? Any first hand experiences lately?

Just need to preload a card and remove cash in destination countries at lowest possible rates. just once or twice
Click to expand...
Been using it for quite some time now.
Wish had found out sooner. Would have saved lot of money.

It is totally worth it.
 

rockyo27

Adept
AgentBane said:
I am planning to buy some things from Aliexpress to US but want to use one of my friends Niyo card so what will be the max charge which I get for it ? Also is this something different like normal credit card ?
Click to expand...
You pay the market price no commission like in CC or other cards.
 

puns

Staff member
Super Mod
dindadoila said:
Still going strong, used it for a couple of weeks last month in France. The annual charges are a bummer though! But, it offers the best rate that I know of in terms of mark up for forex.
Click to expand...

what are the annual charges? 500 Rs?
How much % fees does it cost for cash removal on international ATM
 

Betak

Patron
Can I use the Niyo Global Card to buy games from the Oculus Store in India? Or is there a better way?