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Question 1

What is the maximum amount I can spend internationally without paying TCS with the Niyo Global Forex Card?

Accepted Answer

With the Niyo Global Forex Card, you can spend up to ₹7 lakh internationally without paying TCS. Any spends above this threshold will attract TCS as per the latest announcements.

Question 2

Can I use the virtual Niyo Global Forex Card for international transactions?

Accepted Answer

No, the virtual Niyo Global Forex Card allows only online domestic transactions. You need to order a physical Niyo Global card to make international transactions .

Question 3

Is there any insurance cover with the Niyo Global Forex Card?

Accepted Answer

Yes, the money in your Niyo Global account up to Rs.5 lakh is covered by the Deposit Insurance & Credit Guarantee Corporation (DICGC), an RBI subsidiary.

Question 4

What are the benefits of the Niyo Global mobile application?

Accepted Answer

The Niyo Global mobile application offers various smart features such as global ATM locator, live currency converter, 24X7 customer support, complimentary lounge access, exclusive customized deals, global coins rewards program, instant cash, real-time updates, lock-unlock-block card feature, manage card limits, and more .

Question 5

What is the eligibility criteria for the Niyo Global Forex Card?

Accepted Answer

To be eligible for a Niyo Global Forex Card, you must be an Indian citizen of 18+ years of age with a valid Aadhaar, PAN card, and an Indian Passport.

Question 6

What are the fees and charges for the Niyo Global Forex Card?

Accepted Answer

The fees and charges for the Niyo Global Forex Card include zero forex markup on international transactions, 3 free domestic ATM withdrawals in a month and Rs 21+GST from the 4th withdrawal, INR 110+ GST International ATM withdrawal charges and TCS exemption on international spends up to Rs. 7 Lakhs in a financial year with 20% TCS applicable beyond Rs. 7 Lakhs .

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