Travel Light, Pay Right
with Niyo Zero Forex Card
Better than a regular forex card
Fee-free: zero forex markup cards
Save Big: Dodge the 3%-5% Markup Fees
Features and
benefits
of Niyo Zero Forex Card
Zero Forex
Card Charges
Zero Forex Card Charges
Zero Forex Card
Charges
Say goodbye to hefty Forex conversion charges! You’ll only pay the VISA exchange rates applicable to your international transactions.
Up to
8%
Interest p.a
Up to 8% Interest p.a
Earn up to 8% interest per annumon your Niyo digital savings account balance.
Load in INR,
Use in 180+ Countriesand 130+ Currencies
Load in INR, Use in 180+ Countries and 130+ Currencies
Add money instantly via UPI / IMPS and spend in 130+ foreign currencies in 180+ countries.
Earn Cashback
as
Niyo Coins
Earn Cashback as Niyo Coins:
Earn Niyo Coins on domestic transactions made using the Niyo credit card and Niyo UPI to be redeemed on flights and visa bookings.
No TCS on Spends Abroad (Up to ₹7 Lakh)
No TCS on Spends Abroad
Spend freely up to ₹7 lakh; surpassing this limit incurs TCS per regulations.
Withdraw Balance
Money Back In INR
Withdraw Balance Money Back In INR:
Niyo debit cards/credit cards convert funds only at payment, leaving unspent money in INR for withdrawal or fund transfers without conversion.
How Does Niyo Zero Forex Card Work?
With the Niyo debit card or credit card you do not have to convert or load foreign currency. You just need to add money in INR! These funds are converted ONLY at the time of payment. So, the unspent money remains in your account to be used or withdrawn whenever needed
Features and benefits of Niyo Zero Forex Card
How Does Niyo Zero Forex Card Work?
With the Niyo debit card or credit card you do not have to convert or load foreign currency. You just need to add money in INR! These funds are converted ONLY at the time of payment. So, the unspent money remains in your account to be used or withdrawn whenever needed
How to Apply for Niyo Zero Forex Card ?
Download Niyo app
Verify your PAN
Choose your card
Verify your Aadhar & Passport
Complete your VKYC
Get your card within 5 days
| Features |
DCB Niyo Debit Card |
Niyo SBM Debit Card |
Niyo SBM Credit card | |||
| Works for international transactions | ? | ? | ? | |||
| ZERO forex markup* | ? | ? | ? | |||
| Free lounge access# | ? | ? | ? | |||
| Tax Collected at Source(TCS) | Zero TCS for international spends up to ?7 lakh | Zero TCS for international spends up to ?7 lakh | Unlimited international spends at Zero TCS | |||
| Reward Program (Niyo Coins) | ? | ? | ? | |||
| Interest Rate | Up to 8% p.a. on savings balance | Up to 8% p.a. on savings balance | Up to 7% on linked FD | |||
| Add money in INR and spend in 130+ currencies in 180+ countries | ? | ? | ? | |||
| Joining fee | Nil | Nil | Nil | |||
| Maintenance Charges/Annual fee | Nil | Nil* | Nil | |||
| Card issuance charges | Nil | Nil | Nil | |||
| VISA Network | VISA Platinum | VISA Platinum | VISA Platinum | |||
| ATM withdrawal charges (International) | ?425 + GST | ?425 + GST | ?423 + GST or 2.5% of withdrawal amount(whichever is higher) | |||
| ATM withdrawal charges (Domestic) | AMB < ?25K: First 5 trxns free AMB ? ?25K: First 8 trxns free Above free limit: ?21 + GST | Own Bank ATM: Free & Unlimited Other Bank ATM: 5 free trxns in a month (post which ?20 per trxn) | ?423 +GST or 2.5% of withdrawal amount(whichever is higher) | |||
| Card replacement fees | ?249 + GST | ?249 + GST | ?249 + GST | |||
| Card Delivery | 3-5 days | 3-5 days | 3-5 days | |||
| View More | ||||||
| *VISA exchange rates apply | #At airports outside India with int'l spends of ?50K/quarter. ATM withdrawals do not qualify | ^T&C apply | ||||||
Niyo Zero Forex Card Charges and Fees
Niyo Zero Forex Card FAQs
No, Niyo Forex cards come with zero markup fees. This means that there are ZERO ADDITIONAL CONVERSION FEES when you make transactions in foreign currency. You only pay the exact exchange rate while making a transaction. The forex markup fee denotes the additional charge financial institutions apply when converting one currency to another.
Niyo does not charge any additional fees as zero forex card charges or have any limits on its spending. You can load any amount of funds to spend but note that spends above ?7L becomes eligible for TCS as per latest regulations.
Starting 1st April 2024, you can enjoy one complimentary Lounge Pass outside India per quarter when you spend INR 50,000 outside India in a calendar quarter using a single Niyo card. You can pick from any of the 1300+ international airport lounges outside India.
Is Niyo Zero Forex card with zero markup legit?
Niyo, in collaboration with SBM Bank India and supported by VISA, offers one of India's best digital savings account and a zero forex markup* card, catering to Indian passport holders travelling internationally, fulfilling all their banking requirements and beyond.
Is the Niyo debit card working abroad?
Niyo works in 180+ countries and 130+ currencies.
You can choose from the Niyo Credit card or Niyo DCB Card for your international transactions, offering zero forex markup. Additionally, all Niyo accounts are 0 balance savings accounts with competitive interest rates, allowing you to earn interest up to 7%* with the Niyo Credit card and 7.25%* with the Niyo DCB account.
Is Niyo zero forex markup card free?
Niyo doesn't charge any fee; however, standard Visa exchange rates still apply on International transactions. The Niyo zero forex markup card is an INR-based card that auto-converts the transaction amount into the local currency at the time of purchase. There's no need to load different currencies.
How can I get a Niyo Forex Card with zero markup in India?
You can apply for your Niyo Forex Card with zero markup only if you have a Niyo account which can be opened digitally. The steps to open your digital savings account and subsequently get your zero forex markup card are as follows:
- Step 1: Download the Niyo app.
- Step 2: Complete the KYC using your PAN card, Aadhaar card and Indian passport to open your account.
- Step 3: Once the account opens, a virtual Niyo card is provided, which can be used for online transactions.
- Step 4: To get the physical card, maintain a balance of ?5,000 in the account and place the card order.
- Step 5: You will receive the card within 5 to 10 days after the order placement.
Is Forex card cheaper than cash?
While cash is familiar, forex cards are cheaper, more secure, and efficient and offer favourable exchange rates compared to cash. It is advised to opt for a Forex card as your primary choice and keep cash as a backup.
The Niyo Card offers competitive exchange rates, zero TCS, and the convenience of using it both abroad and in India. When converting ?5,000 to any foreign currency, you might lose only ?6-7 at most on the exchange, compared to nearly ?24 with a regular forex card.
How do I load money on my Niyo Forex card with zero markup?
You can add money to your Niyo Card in just a few simple steps:
- Step 1: Log in to your Niyo app
- Step 2: Click on “Add Money”
- Step 3: Choose a payment method (UPI/Bank Transfer)
- For UPI: Enter the amount you want to add and follow the instructions on your third-party UPI app to complete the transaction
- For Bank Transfer: Add your Niyo account as a beneficiary in another NEFT/IMPS-compatible bank account and complete the transaction
Once the transaction is successful, the funds will be loaded to your Niyo Card and you will receive a confirmation message on your registered mobile number and email address. You can also check the updated balance on the Niyo app.
What is the minimum balance that I need in my Niyo account?
Niyo is a zero-balance account, meaning you don't need to maintain an average balance in your account. However, we recommend that you maintain a balance of at least ?10,000 in your account so it is ready to use whenever needed.
Can I transfer money from my Niyo account to another account after my trip?
Yes, you can transfer your money from Niyo to another bank account. Here’s how:
- Step 1: Click “Bank” (bottom of the screen - this will take you to the savings account screen).
- Step 2: Click “Transfers, and select “Send Money”.
- Step 3: Add details of the payee (account number, beneficiary name, IFSC code).
- Step 4: Step 4: Enter the OTP (sent to your registered mobile number).
Do I really need a Forex card for my international trip?
The Niyo forex card ensures convenience, cost-effectiveness, and security for your international trip. With zero forex markup on transactions, it's the perfect companion to manage your expenses seamlessly while traveling abroad.
Do Niyo zero forex cards operate on VISA exchange rates?
The Niyo Card doesn’t charge forex markup fees, but it uses Visa exchange rates for currency conversion, which may have a slight premium over interbank rates.
Are VISA exchange rates normally higher than interbank rates?
Yes, VISA exchange rates typically include a markup above interbank rates, which allows VISA to generate revenue from currency conversions during transactions.
How can I transfer funds from my Niyo account?
- Please follow these simple steps to transfer money from your Niyo by SBM account, to any other account in India:
- Click “Bank” (bottom of the screen - this will take you to the savings account screen).
- Click “Transfers, and select “Send Money”.
- Add details of the payee (account number, beneficiary name, IFSC code).
- Enter the OTP (sent to your registered mobile number).
- Click “Send Money”, enter the amount and click “Authorise Transfer”.
- Enter the OTP (sent to your registered mobile number).
What kinds of transactions can I make using the Niyo Virtual Card?
The virtual debit card can only be used for any online/e-commerce transactions with a limit of ?7.5 lakh per day. You can use your physical card to make card swipe transactions and ATM withdrawals.
How can I earn Global coins on Niyo?
You can earn Global Coins by:
- Inviting your friends and family to use the Niyo card
- Using the Niyo card in India and Abroad
- Performing any other action mentioned in the “Ways to Earn Coins" section.
What is the value of each Global Coin and how long are they valid for?
1 Global Coin = 10 Indian Paise. The rupee value of each coin is governed by the ‘Global Coins Programme’ terms and might change in the future. They have a validity of 36 months from the date when they are earned.
How to Set up the PIN for the Niyo zero forex markup credit card?
You can set up the PIN for your zero forex markup credit card using the Niyo app.
- Step 1: Click on the “Credit Card” tile (top of the screen - this will take you to the credit card screen).
- Step 2: Click on the Niyo credit card icon (below the balance card).
- Step 3: Click on “Set PIN”.
- Step 4: Enter your preferred security.
What is Niyo Forex Card with Zero Markup?
A zero forex card, also known as a zero forex markup card, is an international debit or credit card designed for international travellers and students. Unlike traditional credit or debit cards that often impose forex card charges or currency conversion fees, a zero forex card eliminates these charges, offering users the benefit of zero forex markup.
With a zero forex card such as the Niyo Forex Card or Niyo Credit Card, travellers can apply for forex card services with the assurance of no additional fees on currency conversions. This means that when making purchases or transactions in foreign currencies, users can enjoy competitive exchange rates without incurring extra charges.
Applying for a zero forex card provides a convenient and cost-effective solution for managing international transactions. Whether you're travelling abroad or making purchases from international vendors, a zero forex card offers the convenience of a credit card with the added advantage of no forex markup fees and the zero forex markup debit card makes iATM withdrawals easy and cost-effective.
So, if you're looking for a hassle-free way to handle foreign currency transactions, consider applying for a zero forex card like the Niyo Forex Card or Niyo Credit Card today.
Enjoy the benefits of Niyo zero forex markup card listed below and maximise your international spending.
- ZERO forex markup* on all international transactions
- Free lounge access outside India based on quarterly international spends of ?50K
- Load in INR use in 130+ currencies across 180+ countries
- Earn interest on savings balance and linked FDs
- Free ATM withdrawals abroad*
- Surcharge-free ATM Locator
- Currency Convertor for live exchange rates
- Card delivery in 3-5 days
- 24x7 in-app chat support
- ZERO convenience fees on flight bookings
- ZERO service fees on visa applications
- Competitive rates on travel insurance
- Discounts on experience and attraction tickets
What are Niyo Coins?
The Niyo Coins are a digital currency offered through the Niyo app.Each coin is equivalent to 10 Indian Paise and valid for 12 months from the date of issuance. For instance, if you earn 1000 Niyo Coins on April 1st, 2024, they expire on March 31st, 2025.
How to earn Niyo Coins?
- Use Niyo UPI for domestic merchant payments
- Refer a friend to Niyo
- Make ATM withdrawals abroad. Each quarter, fees up to ?1,500 is reversed in Niyo Coins
- Earn 10% Niyo Coins with your visa bookings on Niyo app
How to redeem Niyo Coins?
- On domestic and international flight bookings made on Niyo app
- On visa bookings via Niyo
We strive to make Niyo rewarding for you! We continually add new ways to earn and redeem Niyo Coins. Explore the Niyo Coins section in your Niyo app.
Note: The rupee value of each coin is subject to the terms of the Niyo Coins Rewards Programme and may fluctuate over time.
Niyo Zero Forex Card FAQs
No, Niyo Forex cards come with zero markup fees. This means that there are ZERO ADDITIONAL CONVERSION FEES when you make transactions in foreign currency. You only pay the exact exchange rate while making a transaction. The forex markup fee denotes the additional charge financial institutions apply when converting one currency to another.
Niyo does not charge any additional fees as zero forex card charges or have any limits on its spending. You can load any amount of funds to spend but note that spends above ?7L becomes eligible for TCS as per latest regulations.
Starting 1st April 2024, you can enjoy one complimentary Lounge Pass outside India per quarter when you spend INR 50,000 outside India in a calendar quarter using a single Niyo card. You can pick from any of the 1300+ international airport lounges outside India.
Is Niyo Forex card with zero markup legit?
Niyo, in collaboration with SBM Bank India and supported by VISA, offers one of India's best digital savings account and a zero forex markup* card, catering to Indian passport holders travelling internationally, fulfilling all their banking requirements and beyond.
Is the Niyo debit card working abroad?
Niyo works in 180+ countries and 130+ currencies.
You can choose from the Niyo Credit card or Niyo DCB Card for your international transactions, offering zero forex markup. Additionally, all Niyo accounts are 0 balance savings accounts with competitive interest rates, allowing you to earn interest up to 7%* with the Niyo Credit card and 7.25%* with the Niyo DCB account.
Is Niyo zero forex markup card free?
Niyo doesn't charge any fee; however, standard Visa exchange rates still apply on International transactions. The Niyo zero forex markup card is an INR-based card that auto-converts the transaction amount into the local currency at the time of purchase. There's no need to load different currencies.
How can I get a Niyo Forex Card with zero markup in India?
You can apply for your Niyo Forex Card with zero markup only if you have a Niyo account which can be opened digitally. The steps to open your digital savings account and subsequently get your zero forex markup card are as follows:
- Step 1: Download the Niyo app.
- Step 2: Complete the KYC using your PAN card, Aadhaar card and Indian passport to open your account.
- Step 3: Once the account opens, a virtual Niyo card is provided, which can be used for online transactions.
- Step 4: To get the physical card, maintain a balance of ?5,000 in the account and place the card order.
- Step 5: You will receive the card within 5 to 10 days after the order placement.
Is Forex card cheaper than cash?
While cash is familiar, forex cards are cheaper, more secure, and efficient and offer favourable exchange rates compared to cash. It is advised to opt for a Forex card as your primary choice and keep cash as a backup.
The Niyo Card offers competitive exchange rates, zero TCS, and the convenience of using it both abroad and in India. When converting ?5,000 to any foreign currency, you might lose only ?6-7 at most on the exchange, compared to nearly ?24 with a regular forex card.
How do I load money on my Niyo Forex card with zero markup?
You can add money to your Niyo Card in just a few simple steps:
- Step 1: Log in to your Niyo app
- Step 2: Click on “Add Money”
- Step 3: Choose a payment method (UPI/Bank Transfer)
- For UPI: Enter the amount you want to add and follow the instructions on your third-party UPI app to complete the transaction
- For Bank Transfer: Add your Niyo account as a beneficiary in another NEFT/IMPS-compatible bank account and complete the transaction
Once the transaction is successful, the funds will be loaded to your Niyo Card and you will receive a confirmation message on your registered mobile number and email address. You can also check the updated balance on the Niyo app.
What is the minimum balance that I need in my Niyo account?
Niyo is a zero-balance account, meaning you don't need to maintain an average balance in your account. However, we recommend that you maintain a balance of at least ?10,000 in your account so it is ready to use whenever needed.
Can I transfer money from my Niyo account to another account after my trip?
Yes, you can transfer your money from Niyo to another bank account. Here’s how:
- Step 1: Click “Bank” (bottom of the screen - this will take you to the savings account screen).
- Step 2: Click “Transfers, and select “Send Money”.
- Step 3: Add details of the payee (account number, beneficiary name, IFSC code).
- Step 4: Step 4: Enter the OTP (sent to your registered mobile number).
Do I really need a Forex card for my international trip?
The Niyo forex card ensures convenience, cost-effectiveness, and security for your international trip. With zero forex markup on transactions, it's the perfect companion to manage your expenses seamlessly while traveling abroad.
Do Niyo zero forex cards operate on VISA exchange rates?
The Niyo Card doesn’t charge forex markup fees, but it uses Visa exchange rates for currency conversion, which may have a slight premium over interbank rates.
Are VISA exchange rates normally higher than interbank rates?
Yes, VISA exchange rates typically include a markup above interbank rates, which allows VISA to generate revenue from currency conversions during transactions.
How can I transfer funds from my Niyo account?
- Please follow these simple steps to transfer money from your Niyo by SBM account, to any other account in India:
- Click “Bank” (bottom of the screen - this will take you to the savings account screen).
- Click “Transfers, and select “Send Money”.
- Add details of the payee (account number, beneficiary name, IFSC code).
- Enter the OTP (sent to your registered mobile number).
- Click “Send Money”, enter the amount and click “Authorise Transfer”.
- Enter the OTP (sent to your registered mobile number).
What kinds of transactions can I make using the Niyo Virtual Card?
The virtual debit card can only be used for any online/e-commerce transactions with a limit of ?7.5 lakh per day. You can use your physical card to make card swipe transactions and ATM withdrawals.
How can I earn Global coins on Niyo?
You can earn Global Coins by:
- Inviting your friends and family to use the Niyo card
- Using the Niyo card in India and Abroad
- Performing any other action mentioned in the “Ways to Earn Coins" section.
What is the value of each Global Coin and how long are they valid for?
1 Global Coin = 10 Indian Paise. The rupee value of each coin is governed by the ‘Global Coins Programme’ terms and might change in the future. They have a validity of 36 months from the date when they are earned.
How to Set up the PIN for the Niyo zero forex markup credit card?
You can set up the PIN for your zero forex markup credit card using the Niyo app.
- Step 1: Click on the “Credit Card” tile (top of the screen - this will take you to the credit card screen).
- Step 2: Click on the Niyo credit card icon (below the balance card).
- Step 3: Click on “Set PIN”.
- Step 4: Enter your preferred security.
What is Niyo Forex Card with Zero Markup?
A zero forex card, also known as a zero forex markup card, is an international debit or credit card designed for international travellers and students. Unlike traditional credit or debit cards that often impose forex card charges or currency conversion fees, a zero forex card eliminates these charges, offering users the benefit of zero forex markup.
With a zero forex card such as the Niyo Forex Card or Niyo Credit Card, travellers can apply for forex card services with the assurance of no additional fees on currency conversions. This means that when making purchases or transactions in foreign currencies, users can enjoy competitive exchange rates without incurring extra charges.
Applying for a zero forex card provides a convenient and cost-effective solution for managing international transactions. Whether you're travelling abroad or making purchases from international vendors, a zero forex card offers the convenience of a credit card with the added advantage of no forex markup fees and the zero forex markup debit card makes iATM withdrawals easy and cost-effective.
So, if you're looking for a hassle-free way to handle foreign currency transactions, consider applying for a zero forex card like the Niyo Forex Card or Niyo Credit Card today.
Enjoy the benefits of Niyo zero forex markup card listed below and maximise your international spending.
- ZERO forex markup* on all international transactions
- Free lounge access outside India based on quarterly international spends of ?50K
- Load in INR use in 130+ currencies across 180+ countries
- Earn interest on savings balance and linked FDs
- Free ATM withdrawals abroad*
- Surcharge-free ATM Locator
- Currency Convertor for live exchange rates
- Card delivery in 3-5 days
- 24x7 in-app chat support
- ZERO convenience fees on flight bookings
- ZERO service fees on visa applications
- Competitive rates on travel insurance
- Discounts on experience and attraction tickets
What are Niyo Coins?
The Niyo Coins are a digital currency offered through the Niyo app.Each coin is equivalent to 10 Indian Paise and valid for 12 months from the date of issuance. For instance, if you earn 1000 Niyo Coins on April 1st, 2024, they expire on March 31st, 2025.
How to earn Niyo Coins?
- Use Niyo UPI for domestic merchant payments
- Refer a friend to Niyo
- Make ATM withdrawals abroad. Each quarter, fees up to ?1,500 is reversed in Niyo Coins
- Earn 10% Niyo Coins with your visa bookings on Niyo app
How to redeem Niyo Coins?
- On domestic and international flight bookings made on Niyo app
- On visa bookings via Niyo
We strive to make Niyo rewarding for you! We continually add new ways to earn and redeem Niyo Coins. Explore the Niyo Coins section in your Niyo app.
Note: The rupee value of each coin is subject to the terms of the Niyo Coins Rewards Programme and may fluctuate over time.
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Reviews & Ratings for Niyo Zero Forex Card
I recently started using Niyo and have had a great experience so far. The account creation process was simple and easy, and my card was delivered quickly. I’ve been using the card for my travels and it’s been hassle-free. The app is user-friendly and I appreciate the real-time notifications for my transactions. The customer service has also been responsive and helpful in resolving any issues. Overall, I’m very satisfied with Niyo and would definitely recommend it.
Mohammad Zahid
I had a positive experience with Niyo Global, particularly with the smooth onboarding procedure. I ordered three cards, all of which were delivered and activated within a few days. Customer service is outstanding and prompt. Overall the customer experience is excellent and I would highly recommend anyone looking for a Zero Forex card to choose Niyo Global.
Ashmit Mukherjee
I had excellent experience with Niyo Global. I used card abroad without a hitch for withdrawals, swipes and online transactions. I was able to save a lot of money. I had used other cards, but their fees were too high. After the SBM DC scene, I ordered SBM Credit Card. Currently I am in India so I ordered Equitas and DCB card also. I would strongly advise students and those searching for a debit card for an All-in-One Card to Go with Niyo Global.
Vivek Gupta
Niyo card has been my travel buddy since my first abroad journey (April 2021). Be it Europe, South East Asia (domestic) or Central Asia, it never to let me down for my transactions. The customer support is 24X7 which I love the most. I joined the Niyo family with my DCB current account debit card, and also I have SBM and Equitas cards as well.
Sanskar Virmani
I’ve been using niyo Global card for about 6 months. I liked the most is their 0 forex free and paying actual visa exchange rate. if using in ATM you’ll be charged about 100 to 200 by the card provider which is usual, I can calculate the exact amount of visa exchange rate so i won’t miscalculate and skip the charges of insufficient funds.the Int’l airport lounge access in a 0 balance account which no one doesn’t usually get with traditional bank cards.
jeeva ganth
Very good banking service by Niyo Global. It helps me to save my forex markup charges in abroad. It has free lounge access. It’s best for all abroad travellers. I have both SBM & DCB international cards which works smoothly in ATM, online transaction as well as POS. App also has real time currency converter.
Vishal
Due to the suspension of SWIFT services in Belarus and other former Soviet countries, transferring funds from India through Belarusian banks has become very challenging. However, Niyo Global services enable me to use Indian currency directly for any transaction in Belarus at very low rates without any intermediary. This is much more convenient and economical than traditional banks.
Abhishek Verma
To know all about our cards and features, visit us at goniyo.com
Banking Partners
*VISA exchange rate is applicable. Conditions apply.
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Email: customercare@sbmbank.co.in
Toll free: 1800 1033 817
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