When selecting the best credit or debit card for all your online purchases or overseas travel, there are several possibilities. The DBS Bank Card and the Niyo Global Card are two popular choices that users are becoming increasingly well-liked with.
Which of these cards is more appropriate for your needs? Both of these cards have unique qualities and advantages. To help you make a good and informed choice, we shall contrast the benefits and drawbacks of the DBS Bank Card and the Niyo Global Card in this blog.
We’ll also examine the fees, benefits, and application procedures for the DBS Bank Card and Niyo Global Card. You will be able to identify which card is a better choice for you by the end of this article.
Overview:
The DBS Bank Forex Card and the Niyo Global Card are financial services various banks provide, each with its features and advantages.
DBS Bank, a well-known bank in Singapore and Southeast Asia, offers the DBS Bank Forex Card. It provides various features and advantages, including cash back incentives, exclusive discounts, and travel privileges, offering multiple credit card options, each with unique features and benefits.
Niyo Global Card is a multi-currency card. You can use this debit card for cash withdrawals and online shopping. It is intended for those who travel overseas regularly. Using the card’s companion mobile app, you may manage your card account, view transaction history, and check your balance.
It’s critical to consider your personal financial needs and preferences when contrasting the DBS Bank Forex Card and Niyo Global Card. For those seeking just cashback with various offers and advantages, the DBS Bank Card is a fantastic choice. On the other hand, Niyo Global Card is an excellent choice for those who frequently visit different countries and need a practical solution to manage several currencies.
The perfect card will ultimately depend on your requirements and financial circumstances. Before making a choice, it is best to analyze both cards’ features, advantages, fees, and charges.
Benefits of DBS Forex Card and Niyo Forex Card
One of the key benefits of the DBS Forex Card is its acceptance. The card is a practical choice for foreign travel because it is acceptable at millions of merchant locations. The DBS Bank Card also features a rewards program that allows users to accumulate transaction points. You may exchange these points for various incentives, including gift cards for shopping and vacation.
On the other hand, the Niyo Forex Card has cheap fees. Users pay a small transaction cost when using the card; there are no yearly or membership fees. The card also features easy access to any ATM.
The DBS Forex Card India is a good option for users who value wide acceptance and rewards programs. At the same time, the Niyo Global Card is a better option for users who value low fees and multi-currency features. However, based on the features and benefits, we can say that Niyo Global Card is the better option till now. To reach a conclusion, keep reading..
How to apply for Niyo Forex Card
- Install the Niyo Global application.
- Complete the KYC procedures using your Indian passport, Aadhaar, and PAN.
- A virtual card for usage with online purchases will be available in your account.
- You must deposit 5,000 into your savings account before ordering a physical card.
- Receive your physical card within a week or two.
How to apply for DBS Forex Card India
- Examine your card possibilities. DBS Bank offers several credit cards, each with unique features and costs. Look over your selections, then pick the one that best satisfies your requirements.
- Compile the required paperwork: As part of the application process, you must provide personal and financial information. Proof of identity, evidence of income, and proof of address all fall under this category.
- Complete the application form: You can submit the application form online or in person at a DBS Bank branch.
- Apply: After you’ve filled it out, submit it along with the required paperwork.
- Await approval: Within 7 to 10 working days, the bank will assess your application and decide whether to approve it. If accepted, you’ll get your card in the mail.
Applying for Niyo Global Card is simpler and takes less time than DBS Bank Card.
Pros and Cons
Pros of DBS Bank Card:
- Each dollar spent earns one reward point.
- Monthly spending must be at least $1,000 to be eligible for rewards.
Cons of DBS Bank Card:
- A $30 annual fee
- A $30 annual fee
Pros of Niyo Global Card:
- No annual charge
- Access to any ATM in 150+ countries
- No minimum spending requirement
- Enables you to load and use 100+ currencies with no additional charges
Cons of Niyo Global Card:
- Offers no rewards
Despite the latter’s rewards program and substantial late payment fees, Niyo Global Card is more affordable than DBS Bank Card. Niyo Global Card is a superior option because it doesn’t have a minimum spend requirement and has the added benefit of supporting many currencies.
Comparison Table: DBS Bank Card VS Niyo Global Card
Feature | DBS Bank Card | Niyo Global Card |
Annual fee | $30 | $0 |
Minimum spend requirement | $1000 per month | None |
Rewards program | Yes | No |
International usage | Allowed | Allowed |
Contactless payments | Available | Available |
Insurance coverage | Basic | Comprehensive |
As you can see from above, the Niyo Global Card offers more advantages than the DBS Bank Card, including the opportunity to utilize 100 different currencies, no annual charge, no minimum spend restriction and access in 150+ countries.. Niyo Global Card’s late payment penalty is also lower than DBS Bank Card’s. Therefore, it is evident that the Niyo Global Card is a superior choice to DBS Bank Card.
Charges: DBS Bank Card VS Niyo Global Card
Charge Type | DBS Bank Card | Niyo Global Card |
Annual fee | $30 | $0 |
Minimum spend requirement | $1000 per month | None |
Late payment fee | $50 | $20 |
Currency conversion fee | 2% | 1% |
ATM withdrawal fee (domestic) | $5 | $2 |
ATM withdrawal fee (international) | $8 | $5 |
DBS Bank Forex Rates
Currency | Selling TT | Selling Cash | Buying TT |
US Dollar | 83.1644 | 83.1644 | 79.9031 |
Singapore Dollar | 63.4727 | 63.4727 | 60.6795 |
Australian Dollar | 59.3068 | 59.3068 | 56.6969 |
Swiss Franc | 90.4324 | 90.4324 | 86.4528 |
Euro | 90.6501 | 90.6501 | 86.6609 |
British Pound | 103.2940 | 103.2940 | 98.7483 |
Canadian Dollar | 62.5200 | 62.5200 | 59.7687 |
Hong Kong Dollar | 10.6467 | 10.6467 | 10.1782 |
Japanese Yen | 0.6418 | 0.6418 | 0.6136 |
United Arab Emirates Dirham | 22.6977 | 22.6977 | 21.6989 |
Conclusion:
To sum up, the DBS Bank Card benefits and the Niyo Global Card offer several benefits to their members. In contrast, the Niyo Global Card provides more features, such as contactless payments, free international ATM withdrawals, and Zero FX markup, than the DBS Bank Card. Additionally, Niyo Global Card offers a broader range of currencies and has an intuitive mobile app that makes it simple to manage your account while on the road. Even if the DBS Bank Card has a few unique features, such as cashback bonuses and reward points, they might not be as comprehensive as those offered by the Niyo Global Card. The choice between the two will be easier if you check the whole blog. Niyo Global Card has proved its supremacy all over.
