Premium
Niyo Card Vs Axis Bank Forex Card Charges and more!
Niyo Card V/s Axis Bank Forex Card Charges: Which Will Win Your Wallet?
A significant challenge for every global traveller is figuring out how to make purchases in a foreign currency in the most convenient, stress-free, and economical manner possible. You may choose from various payment methods, such as cash, an international debit or credit card, a Forex card, a traveller’s check, etc.
Niyo Card vs Axis Bank Forex Card is the driving topic in this blog, and you will get all the possible details about them here.
Both the cards offer a convenient and secure way to make international transactions.
The Axis Bank Forex Card is a prepaid card from Axis Bank that allows you to carry up to 16 currencies on one card. Niyo Card is a multi-currency prepaid travel card enabling you to carry 130+ currencies in one card. Both cards provide a safe and secure way to transact in foreign currencies while travelling abroad.
All about Niyo Card
The Niyo Card is a forex card designed for international travellers offered by Niyo Solutions. It supports multiple currencies, allows online management, and offers features like enhanced security and global acceptance. Users can check the official website or contact customer support for the latest information.
Niyo Card has a 4-digit PIN for your security and advanced encryption technology to secure your payments.
Here’s how the Niyo Cards make international payments simple and economical for you worldwide.
- Zero forex markup* on international transactions: Niyo card does not charge for the convenience of making forex transactions. You can save up to 5% on all spending abroad (card swipes, online payments, and ATM cash withdrawals). Shop, dine, travel, pay tuition fees, and more.
- Complimentary airport lounge access: You deserve the comforts and luxuries of lounges. Use your Niyo card at selected international terminals outside India for one free access each quarter on quarterly international spends of INR 50K (ECOM, POS).
- Load in INR & use in 180+ countries: One of the best conveniences of the Niyo card is that you just have to add money to your account in INR via UPI/IMPS/NEFT/RTGS and use your card to spend seamlessly in 158+ countries and 130+ currencies globally.
- Easy ATM withdrawals globally: The Niyo card can be used to withdraw local currency from ATMs in 180+ countries at zero forex markup and a low fee. The nifty ATM Locator tool within the Niyo app lets you find one nearby for quick access.
- Niyo Coins: Earn rewards in the form of Niyo Coins on all domestic spends. Unlock them with international transactions and redeem them for attractive cashback.
- Swift card delivery: The Niyo card gets delivered quickly in 2-3 days. In the meantime, you can use the instant virtual card to make online transactions.
- 24/7 Customer Support: No matter where you are in the world, we’ll be here to help you with any concerns with your Niyo card.
All about Axis Bank Forex Card
When it comes to security, it offers secure and encrypted transactions. The Axis Forex Card has a 4-digit PIN and a chip that ensures secure transactions. Axis Bank Forex Cards charges vary based on the type of forex card. The following are the applicable charges for different Forex Cards Axis Bank offers: Forex cards such as the Multi-Currency Forex card may charge an initial sale fee of ₹300 and a reload fee of ₹100. Additionally, there is a cross-currency charge of 3.5% on foreign currency transactions. Axis Bank currency conversion charges a fee of 2.5% of the transaction amount. This fee can be charged in two ways: a flat fee of ₹30 or a percentage of the transaction amount. Depending on the converted currency, the bank also charges a foreign exchange markup fee of up to 2.5%. It also charges a fee for outward remittance of up to ₹2500.
Some Axis Forex Card Benefits are:
- Emergency Cash Assistance: Axis Bank Forex Cards have access to 24×7 emergency cash assistance globally.
- Easy Reload: You can easily reload your Axis Bank Forex Card with foreign currency from anywhere.
- Cash Withdrawal: You can withdraw cash from any Visa/Mastercard ATM globally.
- Cashback: You can get up to 10% on your Axis Bank Forex Card.
- No Hidden Charges: There are currency conversion charges and no hidden charges.
- Security: Axis Bank Forex Card is protected with chip and PIN technology to ensure the highest levels of security.
These charges are subject to change from time to time. Please check the Axis Bank website for the latest charges.
| Feature/ Benefit | Niyo Cards | Axis Bank Forex Card |
| Conversion Fee | Nil | 3.5% |
| Currencies Supported | Load in INR and spend in 180+ countries, India too | 16 |
| Cashback | 1% cashback on domestic transactions | Nil |
| International ATM Withdrawal Charges | DCB Niyo Debit Card: ₹425+GST Niyo SBM Debit Card: ₹423+GST Niyo SBM Credit Card: ₹423+GST or 2.5% of withdrawal amount, whichever is higher | - Multi Currency Forex Card - Axis Bank Club Vistara Forex Card - World Traveller Card - Burgundy Multi-Currency Forex Card |
Axis Bank Forex cards allow you to store 16 currencies and use them to make payments abroad. They charge about 3.5% in forex markup fees. It is useful for frequent travellers seeking a convenient and secure way to carry money abroad.
In short, Niyo card offers more perks than Axis Bank Forex Card, including complimentary airport lounge access at international terminals in India, quick card delivery in 3-5 days (it’s especially helpful when you are on a time crunch), in-app ATM Locator, and Currency Converter for live exchange rates, so indeed, it is a better option.
Frequently Asked Questions
