Niyo Global Card vs. DBS Forex Card: Which One Will Win Your Wallet?
Blog Outline
When selecting the best credit or debit card for all your online purchases or overseas travel, there are several possibilities. The DBS Bank Card and the Niyo Global Card are two popular choices that users are increasingly well-liked with.
Which of these cards is more appropriate for your needs? Both of these cards have unique qualities and advantages. To help you make a good and informed choice, we shall contrast the benefits and drawbacks of the DBS Bank Card and the Niyo Global Card in this blog.
We’ll also examine the fees, benefits, and application procedures for the DBS Bank Card and Niyo Global Card. By the end of this article, you will be able to identify which card is better for you.
DBS Bank, a well-known bank in Singapore and Southeast Asia, offers the DBS Bank Forex Card. It provides various features and advantages, including cash-back incentives, exclusive discounts, and travel privileges, offering multiple credit card options, each with unique features and benefits.
Niyo Global Card is a multi-currency card. You can use this card for cash withdrawals and online shopping. It is intended for those who travel overseas regularly. Using the card’s companion mobile app, you may manage your account, view transaction history, and check your balance.
Considering your financial needs and preferences is critical when contrasting the DBS Bank Forex Card and Niyo Global Card. The DBS Bank Card is a fantastic choice for those seeking cashback with various offers and advantages. On the other hand, Niyo Global Card is an excellent choice for those who frequently visit different countries and need a practical solution to manage several currencies.
Benefits of DBS Forex Card and Niyo Forex Card
DBS Bank’s Forex card is a practical choice for foreign travel since it’s accepted at millions of merchant locations. The DBS Bank Card also features a rewards program. You may exchange points for various incentives, including gift cards.
On the other hand, the Niyo Forex Card has cheap fees. Users pay a small transaction cost when using the card; there are no yearly or membership fees. The card also features easy access to any ATM.
How to apply for Niyo Forex Card
- Install the Niyo Global App.
- Complete the KYC procedures using your Indian passport, Aadhaar, and PAN.
- A virtual card for usage with online purchases will be available in your account.
- Before ordering a physical card, you must deposit ₹5,000 into your savings account.
- Receive your physical card within a week or two.
How to apply for DBS Forex Card India
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1. Examine your card possibilities: DBS Bank offers several credit cards, each with unique features and costs. Look over your selections, then pick the one that best satisfies your requirements.
- 2. Compile the required paperwork:As part of the application process, you must provide personal and financial information. Proof of identity, evidence of income, and proof of address all fall under this category.
- 3. Complete the application form: You can submit the application form online or in person at a DBS Bank branch.
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4. Apply: After completing it, submit it along with the required paperwork.
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5. Await approval:Within 7 to 10 working days, the bank will assess your application and decide whether to approve it. If accepted, you’ll get your card in the mail.
Pros of Forex Card
Pros of DBS Forex Card:
- Each dollar spent earns one reward point.
- Monthly spending must be at least $1,000 to be eligible for rewards.
Pros of Niyo Global Card:
- No annual charge
- Card can be used in over 150 countries
- No minimum spending requirement
- Enables you to load and use 130+ currencies with no additional charges
Comparison Table: DBS Bank Card VS Niyo Global Card
| Feature | DBS Forex Card | Niyo Global Card |
| Annual fee | $30 | Nil |
| Rewards Program | Yes | Yes |
| International usage | Allowed | Allowed |
| Contactless payments | Available | Available |
| Insurance coverage | Basic | Comprehensive |
Charges: DBS Bank Forex Card VS Niyo Global Card
| Charge Type | DBS Forex Card (Debit Card) | Niyo Global Card |
| Annual fee | Charges maintenance and annual fee for their cards | $0 |
| Currency conversion fee | 3.5% | 0% |
| ATM withdrawal fee (domestic) | ₹0 | Niyo Global Credit card- ₹300+GSTNiyo Global Equitas- ₹21+GST (Non Equitas ATM’s) Applicable after 5 free withdrawalsNiyo Global DCB- ₹21+GST Niyo DCB- ₹20+GST (Non DCB ATM’s) Applicable after 5 free withdrawals.Niyo Global Debit card by SBM- ₹20+GST (Non SBM ATM’s) Applicable after 5 free withdrawals. |
| ATM withdrawal fee (international) | ₹125 per transaction | ₹100- ₹300 per transaction depending on your card |
Conclusion
Frequently Asked Questions
Depending on the Forex card you are issued, you can load around ten currencies into the card. The Niyo Global card, on the other hand, can load around 100+ currencies on the card.
The DBS Bank has a digi-bank that can be accessed and used for all your banking services.
You require your KYC, Aadhar card, and other documents to be linked when you make your Niyo GLobal account.
You can sign up for an account through the Niyo app and get a virtual card. For a physical card, you will need to deposit a minimum of ₹5000/-
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