Niyo Global Card vs. Thomas Cook Forex Card: Which One Will Win Your Wallet?
- 7min Read
Blog Outline
Do you want to buy an International card? Confused between the Niyo Global Card and the Thomas Cook Forex Card?
Before deciding, remember that you will be in a new place, and planning a trip meticulously with careful financial planning can enhance your travel experience. This blog will guide you through every possible aspect of using these cards, ending with a conclusion of which card is most appropriate for most situations.
Thomas Cook Forex Card
Thomas Cook Forex card is an international prepaid travel card offered in two variants:
One Currency Card: It lets you load money in USD.
Borderless Prepaid Card: It lets you load up to nine different currencies onto a single card, i.e. US Dollars, Great Britain Pounds, Australian Dollars, Swiss, France, Euro, Japanese Yen, Emirates Dirham, Singapore Dollars, and Canadian Dollars.
Thomas Cook takes pride in providing 24/7 customer service with a toll-free number in India and Global Customer Assistance Service so you can use your Thomas Cook travel card on the go. However, Thomas Cook forex cards will deduct $0.5 to $1 per transaction if you link your Thomas Cook card.
Pros of Thomas Cook Forex Card
Now, let us understand the pros and consequences of using this card in detail.
- Easy withdrawal
You can easily withdraw local currency from over 3 million Visa ATMs and over 2 million Mastercard ATMs worldwide. - No currency fluctuations
If you load funds in advance, you can avoid currency fluctuations. As an added benefit, prepayment lets you stick to your spending plan. - Loading money
A Thomas Cook Forex card benefits you by automatically determining the currency at the time of transaction based on the transaction location. You can also load your card any time you like by visiting a Thomas Cook outlet or their website. It provides a speedy loading service as compared to other forex cards available on the market. - Secure card
Thomas Cook Forex cards come with Chip & PIN protection and 3D secure authentication for online transactions. However, this card is not directly linked to your bank account, so your money is parked without earning interest. - Customer Assistance
Thomas Cook Forex card has 24×7 Global Customer Assistance Services with a toll-free number in India. It facilitates emergency services too.
The Thomas Cook Forex Card for students
It is a great choice to use the Thomas Cook Forex Card for students for the following reasons:.
- You can load up to 9 different currencies on the card for hassle-free transactions. Your parents can also reload the card back home if you run low on funds.
- Safety and security are of utmost importance, and you can rest assured that the Thomas Cook card is protected by a PIN and chip. The Thomas Cook travel card is also not connected to any bank account. You can immediately block the card and get a replacement if it gets stolen or lost.
- The Thomas Cook Card is convenient because you get a backup card free of cost. The card also can be loaded earlier to prevent currency fluctuations.
Niyo Global Card
The Niyo Global Card is an INR-based zero forex markup smart travel card that helps travellers and students make international transactions in 150+ countries at no extra chargecharges. You can instantly open an account with 100% digital onboarding within the Niyo Global app. It requires minimal documentation, and Video KYC service is and Video KYC service available right within the app. You can easily add money in INR via IMPS, NEFT, or UPI and the funds become available almost instantly.
The Niyo Global zero forex markup cards are offered in 3 variants:
- Niyo Global SBM Secured Credit Card in partnership with SBM Bank (India)
- Niyo Global Equitas Debit Card in partnership with Equitas Small Finance Bank.
- DCB Niyo Global Debit Card in partnership with DCB Bank. All the cards are integrated with the Niyo Global app to manage your transactions conveniently.
Pros of Niyo Global card
Now let us understand in detail the merits of using this card.
- Zero forex markup* : Save money each time you shop, dine or travel abroad.
- Free airport lounge access# : Travel in style and comfort with complimentary airport lounge access at select international terminals in India.
- Wide acceptance :
The Niyo Global Card can be loaded in INR, and you can use it to spend in 130+ currencies in 150+ countries. Only the purchase amount gets converted from INR to the local currency, the remaining amount continues to earn interest. - Tap & Pay :
The Niyo Global card comes with the convenience of making contactless payments for quick checkouts. - Zero balance savings account :
You can open a zero balance, high-interest savings account and get a Niyo Global card . You don’t have to maintain any balance and we won’t charge you for that. However, it is recommended to have at least ₹10K in your account for quick and easy payments anytime. - Earn 1% cashback
Earn rewards as Global Coins on all domestic spends^. Unlock them with international spends and redeem them for cashback into your savings account. - No loading charges
You can easily load your account in INR at no extra cost via UPI/IMPS/NEFT/RTGS and make your card ready to transact in India and abroad anytime.
*VISA exchange rates apply | #At select airports in India | ^Terms & conditions apply
After knowing the benefits of using both cards, let’s explore the difference between Thomas Cook Card and Niyo Global Card.
Thomas Cook Card VS Niyo Global Card
| Thomas Cook Card | Niyo Global Card | |
| Cross currency charges | Zero | Zero |
| Currencies supported | Up to 9 currencies | Load in INR & spend in 130+ currencies across 150+ countries |
| Documents required |
|
|
| Acceptance | Works in countries based on the foreign currency loaded, excluding India | Works in 150+ countries, including India |
| Loading | Load card through website or by visiting Thomas Cook outlet | Load via UPI/IMPS/NEFT/RTGS at no extra cost |
| Unloading | As per the RBI rule, once back in India, any balance over $2,000 needs to be cashed out | Once back in India, continue to use your card balance for all domestic transactions and international ECOM. No charges for unloading card balance. |
| Perks | Emergency cash up to your available card balance (if available) | Free airport lounge access at select international terminals in India |
| >Cashback | None | Earn 1% cashback as Global Coins. Unlock & redeem for cash into your account. |
Conclusion
Frequently Asked Questions
A. In case your Niyo Global card is lost or stolen, you can choose to temporarily lock your entire card or permanently block your card via your Niyo Global app to avoid any misuse of your account. Please note that once blocked, you will need to order a replacement card at a charge of ₹249 + GST.
A. The Niyo Global card does not charge annual fee on any of its card variants.
A. There are no joining/account opening charges, make POS & ECOM transactions at no extra cost, fund transfers are free, loading/unloading the account is free, and there are no annual maintenance charges either. However, expect a flat charge of ₹300 + GST (and any ATM provider’s fee) for ATM withdrawals globally and replacement card charges of ₹249 + GST.
Yes, as per the goverment mandate, you will need to complete your KYC with the bank. Completing your video KYC (VKYC) is very simple. It can be done over a 3-minute video call with a KYC agent right within your Niyo Global app.
