Niyo Global Card Review 2023: Detailed Analysis Report

Niyo Global Card

Table of Contents

Who doesn’t want to travel the world? But the hassle of converting currency remains the biggest pain point of traveling abroad. However, the emergence of Forex travel cards like Niyo Global Card have ended all these struggles to a much greater extent. You might be wondering how? Well! Reading this Niyo Global Card Review 2023 is all you need.

Considering all the buzz around this travel card, our expert team set off to test if it’s really worth all the hype. We quickly applied for the card and after using it for over 8 months & on 3 foreign trips, we think it’s the better time to share our experience with our readers.

This factual & brutally honest Niyo Global Card Review will deeply analyze the card’s usability, fee, benefits, downsides, and all the features that make it worth a try once. 

What Is Niyo Global Card?

It is an advanced forex & travel card exclusively launched for frequent international travelers. This smart travel card eliminates the need to carry local currency during overseas trips. 

In simple words, it is an INR-based Forex card that can be used in over 150+ international countries, including India. The card can be funded through any bank account using IMPS/NEFT/UPI without any extra charges.

This international travel card comes with a companion NiYO Global app. Through this app, you can manage & monitor your card activities on the move. It further offers a bunch of other useful features.

Niyo Global, the company behind this global card, has partnered with three leading banking service providers – DCB Bank, Yes Bank and SBM Bank to offer Credit, Prepaid and Forex cards.

Is Niyo Global Card Safe?

Yes, Niyo Card is safe to use, both domestically and internationally. Firstly, it is a product of Niyo Global LTD, India’s leading & regulated wealth management and financial services provider.

Secondly, the Niyo card is issued by the VISA in association with some of the World’s leading banking institutes, including SBM, DCB and Yes Bank. So, considering all these pointers, you can rest assured about Niyo Card safety.

Why Niyo Global Card?

The Niyo card has the dual benefits of a forex travel card & debit/credit card. Therefore, you can use it for your overseas travels and general uses.  The INR-based VISA card is accepted in 150+ countries, supporting 100+ global currencies. 

At the same time, not just for International travelers, the card holds many benefits for students studying abroad. The smart card pays for expenses like university fees, accommodation payments, living expenses, etc. 

Niyo Global Card Benefits?

The benefits of the Niyo Card are what make it the best forex card in India. A dedicated mobile app to track your spending further adds to its utility. Below are some of the best features and benefits of using this Forex Card. 

  • Zero Markup Charges
  • Convenient funding via IMPS/NEFT/UPI
  • Accepted in 150+ countries
  • Complimentary airport lounge access
  • 5% Interest p.a.* on savings account with monthly payouts
  • Dedicated Niyo Global app to manage and track spending
  • In-app Currency Converter
  • ATM Locator
  • Contactless payments
  • Manage card limits on payment channels via the app
  • Concierge services (powered by VISA Signature)
  • 24×7 in-app professional chat support
  • 100% Digital onboarding
  • Zero balance account
  • Real-time updates of transactions

Types Of Niyo Global Card?

The fintech firm allows account holders to choose from plenty of card options, from prepaid to Niyo Global credit card.

Available Niyo Global credit & debit cards include

  • Niyo Global Student Card
  • Niyo SBM Global Card 
  • Niyo DCB Global Card 
  • Niyo DCB PREPAID CARD
  • Niyo YES Bank PREPAID CARD

Let’s understand these available card options, along with their benefits & charges through this detailed Niyo Global Card Review.

Niyo Global Student Card

Niyo global card for students is a unique travel card in partnership with State Bank of Mauritius (India) Limited and a VISA for Indian students traveling abroad for studies. 

The VISA Signature card offers unique bonuses and discounts for your international car rentals, flight bookings, hotel bookings, etc., at zero markups!

What Are Niyo Global Card Benefits For Students?

Student forex card come with additional benefits, along with the existing ones offered by the Niyo Card. Below, we have compiled a list of benefits & features offered by the Niyo Student Card.  

  • ZERO forex markup
  • Accepted by merchants in 150+ countries
  • Complimentary Niyo Global Card lounge access in Indian airports
  • 100% digital account opening and KYC
  • 5% Interest p.a.* on savings account with monthly payouts
  • Dedicated Niyo Global app to manage and track spending
  • In-app Currency Converter
  • ATM Locator
  • Contactless payments
  • Manage card limits on payment channels via the app
  • Concierge services (powered by VISA Signature)
  • 24×7 in-app professional chat support
  • 100% Digital onboarding
  • Zero balance account
  • Real-time updates of transactions

How To Get Niyo Global Card – Eligibility Criteria For Students

Below are the eligibility criteria for opening a Niyo Global Account: 

  • Applicants must be Indian residents and above 18 years of age
  • Must have Aadhar and PAN card

Niyo SBM Global Card 

This international travel card is issued by NIYO Global LTD, in partnership with SBM – State Bank of Mauritius (India) Limited, and a VISA for frequent international travelers.

The card comes with generous rewards and discounts for your international car rentals, flight bookings, hotel bookings, etc., at zero markups!

SBM Niyo Global Charges

Fees Amount
Initial Funding requirement for Debit card issuance INR 5,000
Foreign Currency Draft Issuance Exchange rate charges applicable
Cheque Return – Deposited* INR 350
Cheque Return – Issued INR 350
International ATM* (Cash Withdrawal and Balance Enquiry) INR 100 per transaction
Replacement of Debit Card INR 250
ATM Transaction Charge at any ATM in India (Per Month) Free (Own Bank ATM) & 5 Free Transaction (Other Bank ATM)

Niyo DCB Global Card 

The global VISA card is issued in partnership with Development Credit Bank Ltd (DCB) and is only available to Indian citizens that have a valid PAN and Aadhaar card.

DCB Niyo Global Card Charges

Fee Detail Amount
Joining & Annual Fees  INR 500
Reissue of Lost, Stolen or Damaged Card Fees  INR 250
Domestic Cash Withdrawal Fee at DCB ATM  NIL
Non-DCB Bank ATM Cash Withdrawal  INR 20 per transaction 
International ATM Cash Withdrawal / non-Cash Transaction Fee  INR 149 plus taxes + charges at actuals, as levied by network/ acquiring Bank. 
International ATM Balance inquiry Transaction Fee  INR 100 plus taxes + charges at actuals, as levied by network/ acquiring Bank. 
E-mail Statement Free
Physical Statement (Quarterly) INR 100 per annum
Physical Statement (Monthly) INR 200 per annum
Duplicate Statement  INR.25/per page. More than 1 year = INR 100 per page
Account Closure Fee NIL
Annual Maintenance Charges INR 500

DCB NIYO Prepaid Card

DCB Niyo prepaid card is a debit card on the Rupay network and is limited to being used in India only. The DCB Bank Card shall be valid only for transactions permitted by DCB Bank in India, at Point of Sale (POS), all Rupay ATMs and online transactions.

DCB NIYO Prepaid Card Fee & Charges

Fees Amount
Joining Fees  INR 250
Annual Fees INR 200
Reissue of lost/stolen/damaged Card  INR 200
Cash Withdrawal at other than  DCB ATM  INR 20 per transaction
Balance Enquiry at other than DCB ATM INR 10 per transaction
Petrol Transaction Charge  2.5%
Rail Ticket Booking/Cancellation Surcharge  2.5%
Quarterly Card Maintenance Fee  INR 50 per quarter
Fund Transfer Fee (Within India)  INR 10 (0-2500) & INR 15 (2501-5,000)

YES BANK NIYO Prepaid Card

Also known as Niyo Multi Pocket Prepaid Card, it is specially launched for Indian users. This Niyo debit Card is limited to users in the territory of India and for transactions in INR only. Therefore, it cannot be used outside the territory of India or for any transactions denominated in foreign currency. 

YES BANK NIYO Prepaid Card Fee

Fee Category Amount
YBL Niyo Master Card Fee
Card Issuance  INR 255 + Applicable Taxes
ATM Cash Withdrawal INR 22 + Applicable Taxes
ATM Balance Enquiry  INR 22 + Applicable Taxes
Annual Fee INR 255 + Applicable Taxes
Card Replacement  INR 255 + Applicable Taxes
Fund Transfer Charges NEFT (Free) & Rs. 2.5 + Taxes (IMPS)
Maintenance Fee INR 300 + Applicable Taxes
YBL Niyo Rupay Card Fee 
Card Issuance INR 255 + Applicable Taxes
Annual Fee INR 255 + Applicable Taxes
Card Replacement Fee  INR 255 + Applicable Taxes
ATM Cash Withdrawal INR 22 + Applicable Taxes
ATM Balance Enquiry/Mini statement INR 22 + Applicable Taxes
mATM Cash Withdrawal INR 15 + Applicable Taxes
mATM Balance inquiry/Mini statement INR 15 + Applicable Taxes
Fund Transfer Charges NEFT (Free) & Rs. 2.5 + Taxes (IMPS)
Maintenance Fee INR 100 + Applicable Taxes

What Are The Spending Limits Of Niyo Global Forex Cards?

Category Limit
Card Limit
Card Swipe
  • ₹7.5 Lakhs/transaction
  • ₹7.5 Lakhs/day
  • ₹50 Lakhs/month
  • ₹2 Crores/year
Online Transactions
  • ₹7.5 Lakhs/transaction
  • ₹7.5 Lakhs/day
  • ₹50 Lakhs/month
  • ₹2 Crores/year
ATM Transactions 
  • ₹1 Lakh/transaction
  • ₹3 Lakhs/month
  • ₹7.5 Lakhs/year
Contactless ₹5,000/transaction
Fund Transfers
Within cooling period ₹25K/transaction
Fund transfer ₹1 Lakh/day
UPI Limit ₹25K/day

Niyo Global Card Review 2023: Limits on Transactions

Category Limit (Per Day)
ATM cash withdrawal INR 1,00,000
POS Transaction INR 7,50,000
Contactless payments INR 5,000/Transaction
Online Transactions INR 7,50,000
Fund Transfers
Within the cooling period (30 minutes) INR 25,000
Outside cooling period INR 5,00,000

Niyo Global Card Review 2023: Terms and Conditions

An interest rate of 3.5% per year shall be applicable for savings account balances up to Rs. 2 lakhs. An interest rate of up to 4% per year would be applicable for incremental balances over 2 lakhs and up to 5 lakhs.

An interest rate of up to 5% per year would be applicable for incremental balances over 5 lakhs, depending on how many days the additional sum is kept. 

The daily end-of-day balance is used to calculate interest, and the relevant interest rate for each slab is applied.

How To Apply For Niyo Global Card?

Applying for Niyo Global Card is an easy and fully digital process. You’ll not need to fill out lengthy physical forms as you do in traditional banking; download the app and apply for the card. 

In case you’re still unsure about the process, take a look at the step-by-step guide to applying for a Niyo Card

  • Download & install the Niyo Global app.
  • Now, open your account and complete the verification process with PAN, Aadhaar and Passport No.
  • After the account activation, you can access your virtual card for online transactions.
  • Now, load Rs. 5,000 to order a physical card. It will be delivered in 5-7 days after the request. 

What Are The Documents Required For Niyo Global Forex Card?

The minimum documents required for applying for Niyo Card include

  • Aadhar Card
  • PAN Card

Additionally, you’ll need an Aadhar-linked Mobile Number for OTP verification.

Niyo Global Card Customer Care

Niyo Global offers dedicated customer support through phone numbers and e-mail. However, SBM cardholders are limited to email support, while DCB cardholders have a dedicated toll-free number. 

Our customer support experience with the platform was below average. Firstly, executives didn’t pick up the phone, and finally, when they did, they seemed confused. 

So, it would be helpful to mail [email protected] for any assistance regarding DCB Niyo Global Card. Here are the contact details of Niyo Global customer support. 

  • Niyo Global Card Customer Care Number: 1860 258 6496
  • Niyo Global Card Whatsapp Number: 8884246464

Niyo Global Card’s User Reviews & Ratings

The users of Niyo Global seem happy with the services offered, securing 4/5 ratings on different review forums. 

The unique and extra benefits of having a Niyo forex & debit card can overshadow any leading banking service providers. Overall, Niyo Global Card is a must-have in terms of utility and use cases. 

Conclusion

This Niyo Global Card Review 2023 outlined the uses and benefits of using the debit, prepaid and forex cards exclusively issued to Niyo users. Overall, these global cards seem to be more beneficial to frequent overseas travelers than regular users in India. 

On the other hand, the most appealing feature of the Niyo Global app will remain the in-app currency converter which automatically converts your balance into local currency, therefore, making it easy for travelers as well as forex traders. 

So, not only for travelers, the Niyo forex card is quite a beneficial deal for forex traders. All they need is a reliable trading companion like InvestFW

FAQs

Which Are The Niyo Global Card Countries Accepted?

The Niyo Global is accepted and authorized to use in 150+ countries, including the US, UK, Europe, Asia, etc. 

How To Apply Niyo Global Card?

Here’s a detailed process for applying for a physical Niyo Card:

  • Download & install the Niyo Global app.
  • Now, open your account and complete the verification process with PAN, Aadhaar and Passport No.
  • After the account activation, you can access your virtual card for online transactions.
  • Now, load Rs. 5,000 to order a physical card. It will be delivered in 5-7 days after the request. 

How Do I Contact Niyo Customer Care?

Here’s how you can contact Niyo Global customer care: 

  • Niyo Global Card Customer Care Number: 1860 258 6496
  • Niyo Global Card Whatsapp Number: 8884246464
  • Email: [email protected]

What Is Niyo Global Forex Card?

Niyo Global forex card is an advanced travel card exclusively launched for frequent international travelers. This smart travel card eliminates the need to carry local currency during overseas trips. 

Does Niyo Charge Foreign Currency Markup Fees?

The banking platform doesn’t charge Forex markup fees on its card offerings. 

What Are The DCB Niyo Global Card Benefits?

The benefits of DCB Niyo Global include

  • Zero Markup Charges
  • Convenient funding via IMPS/NEFT/UPI
  • Accepted in 150+ countries
  • Complimentary airport lounge access
  • 5% Interest p.a.* on savings account with monthly payouts
  • Dedicated Niyo Global app to manage and track spending
  • In-app Currency Converter
  • ATM Locator
  • Contactless payments
  • Manage card limits on payment channels via the app
  • Concierge services (powered by VISA Signature)
  • 24×7 in-app professional chat support
  • 100% Digital onboarding
  • Zero balance account
  • Real-time updates of transactions

What Is Niyo Global Card Annual Fee?

The platform charges an annual fee of INR 500 for offering its forex, debit & credit card services. 

What Is The Difference Between Niyo SBM Vs Niyo DCB?

Niyo SBM and Niyo DCB both are forex travel cards; however, the major difference between the two is their issuing partners. While Niyo SBM is issued in partnership with the State Bank of Mauritius, Niyo DCB is issued by the Development Credit Bank Ltd. 

What Are The Benefits Of The Niyo DCB Global Card?

The major benefits Of the Niyo DCB Global Card are as follow

  • Complimentary airport lounge access
  • 5% Interest p.a.* on savings account with monthly payouts
  • Dedicated Niyo Global app to manage and track spending
  • In-app Currency Converter
  • ATM Locator
  • Contactless payments
  • Manage card limits on payment channels via the app
  • Concierge services (powered by VISA Signature)
  • 24×7 in-app professional chat support
  • 100% Digital onboarding
  • Zero balance account
  • Real-time updates of transactions
  • Zero Markup Charges
  • Convenient funding via IMPS/NEFT/UPI
  • Accepted in 150+ countries

What Is Niyo Global Card Whatsapp Number?

The users of Niyo Global can connect to customer support via its dedicated WhatsApp support number – 8884246464.

What Is Niyo Card For Students?

Niyo global card for students is a unique travel card in partnership with State Bank of Mauritius (India) Limited and a VISA for Indian students traveling abroad for studies. 

What Is Niyo Forex Card?

Niyo forex card is an advanced travel card exclusively launched for frequent international travelers. This smart travel card eliminates the need to carry local currency during overseas trips. 

How To Retrieve Lost Niyo Global Card Login Credentials?

In case you forget your Niyo global login credentials, contact customer support at [email protected]

What Are The Niyox Debit Card Charges?

The new NiyoX debit card charges for issue, re-issue and renewal is ₹199 + GST.

Why Is My Niyo Card Not Working?

There might be some technical glitch; try using it after some time. If it doesn’t;t help, try contacting Niyo customer care.

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