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Niyo Forex Card – Reasons Why It’s The Best Card For Indians

You must be contemplating getting a Niyo Forex Card. Well, this article has everything you need to know about Niyo Forex Card.

What is a Forex Card?

The most practical, cost-effective, and safe way to carry foreign cash to pay for your costs when traveling overseas is using a forex card, often known as a travel card. No matter if you are traveling for business or pleasure, never bring large amounts of cash with you.

You may use a forex card, like the Niyo forex card, just like a debit card because it is a prepaid card. Based on the local currency of the destination nation, it is loaded with foreign cash.

You can also choose to load it with many currencies if you want to visit several nations during a single trip to avoid carrying cash in various foreign currencies.

Everyone looks forward to the wonderful milestone of studying abroad. Once you’ve completed the necessary steps and been granted admission to a university overseas, there are a few things to think about.

These things include handling foreign currencies, avoiding the constantly fluctuating conversion rates, the plethora of costs related to international transactions, etc.

In collaboration with State Bank of Mauritius (India) Limited and VISA, Niyo has created Niyo Global, a novel interest-earning savings account based on Indian rupees with ZERO currency markup.

The ideal set for Indian students going overseas to study is a VISA Signature debit card. Niyo Global can be used everywhere that accepts VISA debit or credit cards because it is a member of the VISA network.

Sai Sankar, Business Head – Global at Niyo, discusses the issue statement that Niyo is attempting to solve with their most recent Niyo Global offering:

“A student who travels abroad for higher study must pay several costs, including tuition, housing, living expenses, etc. We hope to offer a single platform with Niyo Global by SBM that will handle all of these needs.

Additionally, when money is sent through conventional routes from their home country of India, students typically have to wait 3–4 days before receiving it. With our Niyo Global card, the transfer happens instantly!

This is quite beneficial, especially when there is an urgent need. Additionally, using the app makes it simple to keep track of all spending in one location. Students should not worry about any card misuse thanks to comprehensive card controls.

Now let’s talk about the reasons why the Niyo Forex Card is best for Indians.

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Travel and Study Abroad Made Easier With Niyo Forex Card

Your banking requirements for travel, school, and other purposes should be easy and hassle-free, according to Niyo Global.

With this interest-bearing savings account, you can fund your account with INR (Indian Rupees) and make purchases in more than 150 other national currencies.

This eliminates the need to rush to the bank to obtain a traveler’s check or something similar while you’re on the road or worry about carrying large amounts of cash.

Some of Niyo Global’s most compelling features include:

  • Zero Forex Markup Card 
  • Complimentary airport lounge access (domestic & international)
  • Concierge services (Powered by VISA Signature)
  • 5% Interest P.A.* on savings account
  • Integrated Niyo Global app
  • Real-time in-app currency converter
  • In-app ATM locator
  • Works at VISA-accepting merchants in 150+ countries

The Niyo forex card is your ideal travel buddy if you’re a student who plans to study abroad. You may onboard yourself right immediately by simply downloading the Niyo Global App.

Why is Niyo Global the Best International Student Travel Card?

A complete DIY savings bank account, Niyo Global is supported by a quick and lightweight mobile app that has fascinating features like:

ZERO Forex Markup

When you conduct an overseas transaction, a bank will typically add a forex markup fee to the transaction amount in order to facilitate payments in foreign currencies.

The FX markup on this VISA Signature Debit Card is however zero. Yes, Niyo Global does not charge you anything for this convenience; only the exchange rates for VISA are in effect.

This is quite economical, especially when handling expensive operations like booking flights and paying tuition, etc.

Accepted by Merchants in 150+ Countries

Before leaving for your trip or even while you are abroad, you can deposit INR into your Niyo forex card.

Niyo Global automatically converts an amount in INR to the local currency of the nation you are currently in. It can even be used to make international purchases directly from India at businesses that accept VISA in more than 150 countries.

What else? There are no fees associated with adding money to your account at any time via NEFT, IMPS, or RTGS because it is a digital account with a special account number and IFSC code.

Complimentary Airport Lounge Access

Traveling in style is made possible by having access to airport lounges in both domestic and international terminals across India when you have a VISA Signature card. Check out more details about the VISA Airport Lounge Access Program.

100% Digital Onboarding and KYC

With the Niyo Global App, creating an account is quick and easy without the need to run to the bank and fill out complicated paperwork. It can be done comfortably from wherever you are.

To obtain the greatest foreign travel card for Indian students, all you have to do is download the Niyo Global App and adhere to straightforward instructions.

Instant Account Opening

Rapid account opening is ensured with the lightweight and quick Niyo Global App, giving you more time to prepare for other parts of your trip and studies.

You have the option to use your account for all online transactions right away using your digital debit card instead of having to wait for your physical card to be sent.

Please take note that the card would be sent within 15 days of placing an order, depending on the city in which you reside.

Zero Balance Savings Account

We commit not to charge you for exceeding the stated monthly sum at any time, which is not required. To ensure that you can use your card whenever you want, it is a good idea to keep a balance of at least INR 10,000.

Up to 5% Interest P.A.* on Account Balances

Using the benefits of the Niyo forex card, your account balance grows while you travel, in sharp contrast to the typical forex cards.

In-app Currency Convertor

So that there are no shocks later, this shows you the currency rate in real-time. Note that all transactions are subject to the VISA exchange rates.

In-app ATM Locator

This helpful tool can assist you in locating the closest ATM wherever you may be in the world in case you require cash while traveling in the preferred local currency.

Real-time Tracking

Every transaction you make is recorded in the app and updated in the local currency to make it easier for you to keep track of your money.

Enhanced Security

You may increase security with the Niyo Global app’s Lock/Unlock/Block Card functions. Your chip and PIN card’s safety and security are further increased by the app’s ability to temporarily lock the entire card or just a few channels to regulate your transactions.

In the event that your card is lost or stolen, you can even permanently block it.

Zero Fund Transfer Fees

Your fund transfers made via NEFT, RTGS, or IMPS are free of additional charges. These transactions can be carried out at any time and from any location.

VISA Signature Debit Card

This Tap and Pay card enables contactless transactions with no foreign exchange markup and includes access to the airport lounge and concierge service (Powered by VISA Signature).

0% Commission Mutual Fund Investments

A Niyo Money account is automatically created for you as part of the Niyo Global onboarding process.

You can also opt to import your current investment portfolio at any time to get started investing in mutual funds, stocks & ETFs, and more!

24×7 in-app Support

Your account is never a concern for you. You can contact the in-app support team whenever you need help.

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Exclusive Offers

With no markup, the VISA Signature card offers special deals and savings on your hotel, airfare, and auto rental reservations.

The card includes special discounts and offers for all your lifestyle, health, and food and beverage needs in addition to free airport lounge access at domestic and international airports throughout India.

We hope this article has helped you with all you need to know about the Niyo Forex Card.


How can I use NIYO forex card?

100% Digital Onboarding

  1. Download the Niyo Global app.
  2. Complete the KYC steps with PAN, Aadhaar and Passport No.
  3. You can use your virtual card for online transactions.
  4. To order your physical card* load ₹5,000 .
  5. Physical card will be delivered in 5-7 days.

Niyo Global is not exactly a forex card, but better. It’s a debit card linked to the Niyo Global digital savings account with no FX markup. It comes with many more features and benefits as compared to a forex card that will make handling your international transactions absolutely hassle-free.

Yes, Niyo Global by SBM offers a debit card free for a lifetime and there are no annual charges on it.

Niyo Global by DCB and Niyo Global by SBM both have the same functionality. The main distinctions are that Niyo SBM is a savings account that pays up to 5% on deposits and allows you to create a UPI ID using any third-party app once you get the card.

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