Forex Card Uses During International Trips From India: How is the Niyo Card Better?

To address this and many other banking challenges that international travellers face through their journey, Niyo, in partnership with State Bank of Mauritius (India), DCB Bank, and VISA, brings you INR-based interest-earning digital savings accounts that come with zero forex markup VISA Signature/Platinum Debit Cards respectively. The card is integrated with the light and fast Niyo app for a seamless banking experience on the go through your travels abroad. Read on to find out more about the Niyo Card uses! Before that, let’s understand what regular Forex Card uses are.

What is the use of a Forex card?

But there is one card out there that can go beyond regular Forex card uses! Presenting the Niyo Card with zero Forex markup for all your international travel needs.

But wait, what is a Forex markup anyway?

What is Forex Markup?

Forex cards include a fee when you use them for international transactions or transactions in a different currency. This is known as forex markup. If you are wondering about the meaning of Zero Forex markup, it’s that there is no markup fee associated with the usage of the card. 

Travel abroad made easier with the Niyo Zero Forex Markup Card.

No matter where your destination is, whether you are travelling to one country or multiple, Niyo can be your best travel companion. Forex card uses are limited when compared to Niyo card uses! You can load your Niyo account in INR (Indian Rupees) from any other bank account and spend in the local currencies in over 180 countries. Since the Niyo card uses the VISA network, it is accepted worldwide! This means you don’t have to worry about carrying wads of cash while travelling or rushing to the bank to get a traveller’s cheque, a Forex card, or anything of the kind.

A few of the most compelling Niyo card uses:

• Zero Forex Markup on all international transactions.
• Free lounge access at selected international terminals in India
• Load in INR and use in 180+ countries and 130+ currencies
• Card will be delivered in 3-5 days
• 24x7 in app chat support
• 7.2% interest p.a.* on savings account
• Integrated Niyo app
• Real-time in-app currency converter to check live rates
• In-app nearby ATM locator to find surcharge-free ATMs abroad

Niyo aims to make your banking needs for travel, study, and beyond a smooth and hassle-free experience, in a way that uses of a Forex card simply cannot compare. All you have to do is download the Niyo App, and you get your card onboard with you on your many journeys!

Why is Niyo the best zero forex markup card?

While assessing your options for carrying money on your trip, here are a few do’s & don’ts while carrying money abroad.

The Niyo account comes with an integrated app, and the top-of-the-line international Zero Markup Forex Card enabled with a host of features and benefits for an effortless banking experience when you are on the move. So, what is the use of a Forex card when you have Niyo card on hand!

Zero Forex markup

Generally, Forex card uses in a foreign currency with any currency involve the card-issuing bank charging a foreign currency markup fee on the total transaction amount. Your Niyo Zero Markup Forex Card doesn’t charge anything for this convenience. This makes it extremely cost-efficient for all transactions involving foreign currency, like flight bookings, paying tuition fees, dining out, shopping, etc.

Works in 180+ countries

Can Forex card uses be extended to over 180+ countries? Maybe, maybe not! But you can with the Niyo Card! In case you plan on travelling to multiple countries during a trip, you don’t have to worry about which currency to load on your card either. Simply load the Niyo Zero Markup Forex Card in INR before travelling or even while abroad. It auto-converts the INR amount to the local currency of the country you are in. It can be used at ATMs to withdraw cash and to pay at VISA-accepting merchants in over 180+ countries. Not to mention the convenience of making purchases from international websites within India.

24X7 Support

Should you need assistance with your account anytime during your travels, you can reach out to us through the 24X7 in-app chat support.

100% digital onboarding and KYC

You can enhance the Niyo Card uses by simply downloading the Niyo app. This app ensures seamless account opening without rushing to the bank to fill up confusing paperwork. The app gives you steps to open your account that are intuitive and simple to follow. You’ll instantly have your hands on the best international debit card.

Instant account opening

The light and fast Niyo App ensures quick account opening so you can dedicate more time to plan other aspects of your travel and study. It’s a digital account with a unique account number and IFSC. Your digital/virtual debit card gives you the freedom to start using your account immediately for all online transactions without waiting for your physical card to arrive. Please note depending on the city you live in, the card will get delivered within 15 days of placing an order.

Up to 7.2% interest p.a.

Your account balance earns interest and continues to grow even while you are on vacation. Check the latest savings interest rates for SBM Bank (India) and DCB Bank

Zero loading and fund transfer fees

There are NO charges to load your account or transfer funds 24×7 from anywhere via NEFT/IMPS/RTGS.

Tap & Pay

The Niyo card facilitates contactless payments at stores, ensuring quicker transactions and lesser wait time at checkout without the card leaving your hand at any point in time.

Complimentary airport lounge access

Starting 1st April 2024, you can enjoy one complimentary Lounge Pass outside India per quarter with international spend of ₹50,000 (POS, ECOM only) in a calendar quarter using a single Niyo card. You can pick from any of the 1300+ international airport lounges outside India.

Virtual and physical debit cards

The Niyo account comes with two kinds of VISA debit cards:
Virtual card: A handy instant virtual Debit Card that can be used for online transactions as soon as you open your digital savings account with partial KYC (pending biometric verification).
Physical card: Soon after opening your account, your physical Debit Card gets delivered to your Communication Address in 3-5 days. This card can be used for all POS, ATM, and E-commerce transactions.

In-app Currency Converter

This gives you a real-time currency rate, so there are no surprises later. However, do note: VISA exchange rates apply to all transactions.

In-app ATM locator

While debit cards are accepted at most places abroad, there could be instances where you might need small changes to pay in cash. This handy tool can help you find the nearest ATM anywhere in the world.

Enhanced security

The Niyo app brings you enhanced security through the Lock/Unlock/Block Card features. To add to the safety and security of your chip and PIN card, the app lets you temporarily lock your entire card or individual payment channels–Online payments, ATM withdrawals, Card swipes, Contactless payments, and International payments–so you can keep tabs on your transactions. You can even block your card permanently in case it gets stolen or you accidentally lose it.

Real-time tracking

To help you keep track of your funds, all your transactions are always listed in the local currency and updated in the app each time you spend somewhere.

Exclusive in-app offers

We have curated offers for you on hotel and flight bookings and more. Check out exclusive offers with domestic and international merchants on the Niyo app.

Get your Niyo card today

Download the Niyo App and open your account right away. It’s all you need to take care of spending in foreign currency at the best possible rates* while travelling abroad.