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Are you searching for the difference between Jupiter Money and Niyo Global Card? Want to figure out the best one? Want to have the best choice?
You are on the right page.
Hello guys. Hoping you all are fine.
Here I’ll acknowledge you about both cards in detail with a point-to-point analysis. So keep reading to get that.
Firstly let me tell you about them a little, especially there features and drawbacks.
Jupiter Money
Jupiter forex card is a zero balance account card provided for a lifetime free based on Neo banking system partnership with Federal bank. It provides an interest of 2.5 percent annually.
It is a debit card with mobile and internet banking facilities and ATMs to deposit and withdraw funds. You can keep track of your transactions by providing regular bank statements. You can transfer funds through Electronic fund transfers via Real-time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and Immediate Payment Service (IMPS).
You can open two types of accounts with Jupiter money:
- Normal or regular savings account
- Pro-salary account – As the name suggests, the pro-salary account is for salary employees.
Pros and cons of Jupiter Money
Let’s compare the advantages and disadvantages that you will experience while using this card based on our practical experience.
PROS or Benefits of Jupiter forex card
- DICGC protection:
It means your bank balance up to an amount of Rs. 500,000 is safe. You get insurance coverage by DICGC, Deposit Insurance and Credit Guarantee Corporation Act.
- Zero balance account:
There is no need to maintain monthly, quarterly, or annual amounts in your bank account.
- Reward:
Jupiter forex card provides you one percentage of rewards for any transaction done by this card, and then Jupiter money can convert into real money and be used further.
4.Charges on fund transfer:
Jupiter forex card charges no amount in case of fund transfers, making it attractable to have from any other card.
CONS:-
- Amount Limits:
While opening with a regular Jupiter account, you have a limit to transact up to Rs. 2 lakhs per annum. In addition, you cannot deposit an amount of Rs. 1 lakhs in a single month.
- No KYC:
It does not require a KYC confirmation to open a bank account. It is expected to have this policy enhancement to have KYC registration before opening an account in their bank.
- Initial deposit:
To open an account, you must deposit Rs. 3000 to unlock its essential feature.
Niyo Global Card
A 100% foreign exchange markup-free smart travel card for the new generation of global travelers, the Niyo Global Card eliminates the pain points of handling foreign currency during travel. You will save money with this card because it works worldwide and will not be charged a markup during the transaction.
Niyo Global is an international card based on INR that is usable when traveling abroad to make foreign currency transactions. It provides the best digital savings account with a VISA Signature debit card.
Pros and cons of Niyo Global Card
A set of advantages and disadvantages of using this card based on our practical experience is here below:
PROS:-
- Worldwide acceptance:
Niyo Global card is acceptable in more than 150 countries and has more than 100 currencies.
- Visa powered:
Unlike Ru pay and Mastercard, Visa is acceptable everywhere, so you can apply for Niyo forex Card and use it anywhere in the world.
- App:
It has a simple app providing a currency converter and ATM locator. Enjoy ATM services not only in India but use them internationally too.
- Safety feature:
In case of loss, theft, damage or blockage of a Niyo Global card, the card can be unblocked and blocked again. You can do this through the app, which is available on the app store and Google Play Store.
Some other benefits of Niyo Global Card which will ensure that you opt for this card only-
- Zero forex markup
- You can live stress-free with a super-secure card system
- No hidden fees
- Zero balance accounts
- Ease in the opening of account
- Complimentary lounge access at airports
- One year free debit card
- Replacement of old or lost cards
- Controls like ‘Sleep’ and ‘Freeze’
CONS:-
- No website interface:
It has only a mobile application. If you want to have a web service, then Niyo Global does not provide one of those.
It’s time to move further to have a perfect distinction between these two cards.
Jupiter Money VS Niyo Global Card
Now, let’s have a key difference between Jupiter Money VS Niyo Global Card based on some essential points.
Basis of Difference | Jupiter Money | Niyo Global Card |
Rewards | Jupiter money offers rewards of 1 percentage of transactions converted into money. | Niyo Global does not offer any rewards. |
Non-Bank withdrawals | Jupiter Forex card charges you Rs. 21 per withdrawal after five free withdrawals. | Niyo Global Card charges you Rs. 20 per withdrawal after five free withdrawals. |
Fees | Several fees are charged | No hidden fees |
App offer | Not many interesting offers. | Niyo Global offers several benefits including hotel, flight fare and much more. |
Best Duration | It will be better for a long time with large expenditures. | It will be better for travellers for long term and short term expenditure while travelling. |
Replacement process | Have to undergo several steps | To replace the card, the process is simple |
KYC confirmation | It does require KYC confirmation till now. | When we apply for a Niyo forex Card, it requires a proper KYC confirmation before opening of an account. |
Conclusion:
Hope you have easily reached the conclusion by the end of the blog and have applied for the Niyo Forex Card. Remember to stick to something that turns your experience into a memorable one and nothing but Niyo can do it.
FAQ’s
Does RBI approve Jupiter bank?
Yes. RBI approves Jupiter bank. It hosts your account as an RBI-licensed bank and a Federal Bank, providing you with all the best security and facilities compared to other banks.
