What Is NiYO Account?

What is a forex card?

Think of a forex card as a prepaid travel card that you can load with a foreign currency of your choice.

You can use a forex card just like a credit or debit card to pay for your expenses in a local currency abroad.

You can withdraw local cash from an ATM..

Which debit card is best for international travel?

The 3 best checking accounts and debit cards for international travelSchwab Bank High Yield Investor Checking® Account. … Fidelity® Cash Management Account with Fidelity®Visa®Gold Check Card. … Capital One® 360 Checking® Account.

How do I transfer money from my NiYO card to my bank account?

Unused money can be transferred back to bank account. Track expenses realtime using NiYO Global App. Lock/unlock card on the move using NiYO Global App. Reset PIN instantly using NiYO Global App.

How do you use a NiYO card?

4 Easy Steps to Get StartedMeet a NiYO agent to get your card and complete your KYC (Passport + PAN + Aadhar).Download the NiYO app and log in with your registered mobile number.Transfer money to your NiYO – DCB account via NEFT/IMPS.Use your card domestically and overseas with No Forex markup*.

How do I open a NiYO account?

Download the Niyo App from PlayStore or App Store. Follow the instructions on your screen to complete the account opening process.

Which bank is best for travel card?

Below are some of the best forex cards in India that you might want to have a look at. YES Bank Multi-Currency Travel Card. Axis Bank Multi-Currency Forex Card. MakeMyTrip HDFC Bank ForexPlus Card. ICICI Bank Travel Card. HDFC Regalia ForexPlus Card.More items…

What is Forex markup fee?

Cross currency markup charge- When the transaction currency is different from loaded on the card (for instance, if you have loaded the card with dollars and have to make a transaction in euros), you may be charged a ‘cross currency markup’ of 3-3.5 percent on such transactions.

Which forex card is best for students?

HDFC Bank Forex CardsMulticurrency ForexPlus Card. Main Feature. The HDFC Multicurrency ForexPlus Cards lets you carry 22 different currencies in one single card. … ISIC Student ForexPlus Card. Main Feature. Specially made for students. … Regalia ForexPlus Card. Main Feature.

Which is better forex card or cash?

Prepaid forex cards have better exchange rates than carrying cash around. Therefore, you can buy more foreign currency in a prepaid forex card than as cash, with the same amount of money. Cash has higher conversion rates and may vary from one dealer to the next. … Cash that is lost, remains lost.

What is the safest way to carry money when Travelling?

Best ways to carry money while travelingDivide money in different places. … Favor on-body storage. … Keep small bills handy. … Carry an anti-theft bag. … Trim your wallet. … Use a dummy wallet. … Buy a travel wallet. … Adapt to the local money culture.More items…•

Can we transfer money from travel card to bank account?

Alternatively, you can transfer funds back off your Travel Money Card through the following options: … Account transfer to a CommBank transaction account: you can transfer funds that are loaded on your card to a CommBank transaction account by logging on to the CommBank app or NetBank.

How many days will it take to get forex card?

4 -5 daysIt takes about 4 -5 days to process and receive personalised forex cards. The card can be reloaded with additional forex by filling up a reload form and submitting a cheque or a debit instruction for the required amount. 1. An existing bank account is not required with the bank to obtain a forex card.

What is a NiYO card?

The NiYo card is more like a rupee-denominated prepaid debit card that you can use abroad unlike a forex card that is denominated in foreign currency. Users of NiYo card can also use the company’s app to monitor and control their card usage.

Where can NiYO card be used?

The Niyo DCB Global card can be used to spend around the world wherever Visa is accepted. So whether you are at a shop, restaurant, hotel or cafe, you can just swipe the card like any other Visa card. You can also use this card for online spending too.

Are travel money cards a good idea?

It’s always worth having a few different forms of foreign currency if you’re travelling abroad, and travel money cards can be a great alternative. Make sure you read the small print about the card you’re considering, and in particular watch out for extra fees hidden in a poor exchange rate.

How do I check the balance on my NiYO card?

Yes. Your card is fully supported by our NiYO mobile banking app, through which you get real-time transaction notifications, transaction summaries, balance inquiries, custom account statements, safety features, an ATM locator, an up-to-date currency converter, the ability to transfer funds, and much more.

Which is best travel card?

Best buy prepaid travel cardsRevolut – top rates on weekdays.Transferwise – top rates with low fees.

Which card is best for international travel?

Best credit cards for international travelWinner: American Express® Gold Card.Best for No Annual Fee: Wells Fargo Propel American Express® Card.Best for Dining: Capital One® Savor® Cash Rewards Credit Card.Best for Hotels: Capital One® VentureOne® Rewards Credit Card.Best for Luxury Travel: Chase Sapphire Reserve®Best for Bad Credit: Discover it® Secured.