If you’re someone who travels internationally-whether for studies, business, or vacations-you’ve probably heard about the Niyo Global Card. It’s often marketed as a smart, hassle-free way to make payments abroad without paying extra forex markup. But how much does it really cost to use this card? Are there hidden charges you should know about?
In this article, we’ll break down the actual charges associated with the Niyo Global Card so you can make an informed decision before swiping it overseas.
What is the Niyo Global Card?
The Niyo Global Card is a zero forex markup international debit card offered in partnership with banks like DCB Bank and SBM Bank. It works just like any regular debit card but is designed specifically for international usage. You can use it to pay for tuition, book hotels, shop online in foreign currency, or withdraw cash from ATMs abroad.
Unlike traditional forex cards or credit cards that often come with 3-5% foreign transaction fees, Niyo Global claims to offer transparent pricing with minimal charges.
Key Charges to Know Before You Apply
Let’s break down the main fees you might face when using the Niyo Global Card:
1. Card Issuance Fee
- For the SBM Niyo Global Card, the issuance is usually free.
- For the DCB Bank Niyo Global Card, there’s a ₹499 + GST one-time fee, which is waived if you maintain a minimum quarterly balance of ₹5,000.
Tip: Choose the SBM variant if you want to avoid issuance charges.
2. Forex Markup Charges
This is where the card really shines.
- Both variants of the card offer 0% forex markup on international transactions.
- You pay the real Visa exchange rate, without any hidden conversion charges.
This is a huge cost-saver if you’re used to paying with credit or debit cards that usually charge 3-5% in markup fees.
3. International ATM Withdrawal Charges
Even though purchases are markup-free, ATM withdrawals may come with fees:
- SBM Niyo Card: ₹100 + GST per withdrawal abroad
- DCB Niyo Card: ₹149 + GST per withdrawal abroad
Keep in mind that the ATM operator abroad may also charge a fee, which is separate from Niyo’s charges.
4. Domestic ATM Charges
- First 5 transactions (withdrawals/balance checks) are usually free each month.
- After that, you may be charged around ₹20 per transaction (withdrawal) and ₹10 for balance checks at non-partner ATMs.
For daily local use, it’s not the most economical card.
5. Card Replacement Fee
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If your card is lost, stolen, or damaged, there’s a replacement charge of ₹249 + GST.
6. Account Maintenance
- There are no annual maintenance fees.
- There’s no minimum balance requirement for SBM variant users.
- DCB variant users need to maintain an average balance of ₹5,000 to avoid the issuance
7. Tax Collected at Source (TCS)
If you spend over ₹7 lakh in a financial year on foreign transactions, 5% TCS will apply as per Indian tax laws. This is not a Niyo-specific charge but a government-mandated deduction.
Extra Perks Worth Mentioning
- Free lounge access for eligible cardholders who spend ₹50,000 or more per quarter (international spends only).
- Up to 8% interest on account balance with DCB Niyo Global (quarterly payout).
- Instant account setup via the Niyo app-no need to visit a branch.
- Works in 150+ countries and supports 100+ currencies.
Final Thoughts: Is It Worth It?
If you travel abroad frequently, the Niyo Global Card can save you thousands in forex charges and give you the ease of international transactions at real-time Visa rates. While there are some charges-especially ATM withdrawals and card replacement fees-they are relatively low compared to traditional cards.
For students studying overseas, digital nomads, or frequent flyers, this card is an excellent tool to manage finances globally without losing money to hidden conversion costs.
Just make sure you understand the specific charges based on whether you choose the DCB or SBM variant.