Do you also want to buy an International card? Confused between Niyo forex Card and Thomas Cook Forex Card?
Finding the best from the two cards? Remember before deciding that you will be at a new place and planning for an easy trip with easy financial planning can turn your trip into a smooth one.
Dear readers, this blog will guide you through every possible aspect of using these cards, ending with a conclusion of which card is most appropriate for most situations.
Firstly, let us have a brief about both the cards.
Thomas Cook Card
Thomas Cook forex card is an international card that loads nine different currencies onto a single card, i.e. US dollars, Great Britain Pounds, Australian Dollars, Swiss, France, Euro, Japanese Yen, Emirates Dirham, Singapore Dollars and Canadian dollars. You can reload the card anytime and anywhere.
A Forex card is like your travel buddy. It will assist you in sailing smoothly while you are on the road. They pride themselves on providing 24/7 dedicated customer service so you can use your Travel Card on the go.
Pros and Cons of Thomas Cook Card
Now let us understand the pros and consequences of using this card in detail.
You can easily withdraw local currency from over 3 million Visa ATMs worldwide in over 200+ countries.
No currency fluctuations:
If you use the facility of loading funds in advance, you can avoid currency fluctuations easily. As an added benefit, prepayment allows you to stick to your spending plan.
A Thomas Cook forex card benefits you by automatically determining the currency at the time of the transaction based on the transaction location. You can also load your card any time you like. It provides a speedy service in loading as compared to other forex cards available in the market.
Thomas Cook forex cards apply with the Chip & PIN protected feature with 3D secure authentication for online transactions. This card is not directly linked to your bank account.
Thomas Cook forex card is a 24×7 Global Customer Assistance Services and facilitates emergency services too.
The staff here are some of the trainees who know how to talk about the cards. In brief, the unprofessional way of issuing the card.
Thomas Cook forex cards apply many hidden charges attached to this card. Any traction made will deduct $0.5 to $1 per transaction if you link your Thomas Cook card.
The mobile application also does provide the latest updates on the transactions. It takes undefined hours for the update in the account of the balance availability services.
Difficulty in adding money:
It has a policy of depositing the amount of the candidate who is at least 20 years old. Only parents can add money by applying to register and by approving the quotation for the transaction.
Niyo Global Card
The Niyo Global Card is a zero forex markup smart travel card with an in-app currency converter. You can instantly open an account with it with 100% digital onboarding and KYC service availability, as here, you can easily add money in INR via IMPS, NEFT, or UPI. It is now in a partnership with SBM Bank, the State Bank of Mauritius.
It also has lots of complimentary services with zero hidden charges. Not only that, but it provides you with a dedicated app to manage your transactions conveniently.
Pros and Cons of Niyo Global
Now let us understand in detail the merits and demerits of using this card.
Niyo Global international card has multinational assistance as accepted by merchants in 150+ countries.
Tap & Pay feature:
This card comes with ease of payment through any mode like NEFT or RTGS by tap and pays feature.
Zero balance savings account:
You can apply for a Niyo forex Card and open an account with a facility of zero balance savings.
You will not incur any fees when adding or withdrawing INR via NEFT if you apply for a Niyo global card. Additionally, there are no currency conversion, cross-currency conversion, or forex markup charges associated with the account.
No loading charges:
There are no loading charges, and you can easily load the currency you want and be ready to pursue any transaction you want.
Apart from the minor changes in transactions, Niyo Global card charges 5% TCS on literally every transaction done using your card.
Rejection of transaction:
It also rejects transactions in many situations which are uncertain about defining. The problem is from the bank itself, which makes it difficult for users to use it.
After knowing the features and consequences of using both cards, we can now know the difference between Thomas Cook Card and Niyo Global Card.
Thomas Cook Card VS Niyo Global Card
Check the difference between the above cards through this table.
|Basis of Difference||Thomas Cook Card||Niyo Global Card|
|Fast procedure||Clearance of cheques is literally easy but sometimes get delayed||It has fast cheque clearance services.|
|Mobile application||Thomas Cook Forex card does have a pleasant mobile application.||Niyo Global has a way better mobile application than Thomas Cook.|
|Issuance of card||It provides ease in the issuance of the card without submitting many documents.||It requires KYC verification at DCB or SBM bank branches.|
|Least charges on forex||There are zero transaction costs.||It also does not charge any transaction cost.|
|Conversion charges||Thomas Cook forex card costs you Currency conversion charges.||And it does not cost you any currency Conversion charges.|
|Website portal||It has an amazing website portal.||It also has an attractive website portal.|
To conclude, each person has their mindset of choosing the forex cards they want. Depending upon the pros and cons mentioned above, you can easily find out what suits you the best. Niyo Global Card seems to win the race with added benefits and negligible disadvantages.
Niyo Global Card have minimal charges as compared to other government-based and private bank international cards.
Ques 1. Is there any facility with Niyo Global when the card is lost or stolen?
Ans. Yes, The bank has specially made the facility to Block and lock cards whenever your card has been stolen, lost, or damaged. You can do this on their official website or with the help of mobile applications. The procedure is also effortless to do.
Ques 2. Is the Niyo Global card lifetime free?
Ans. The answer to your question is no. Niyo Global card provides you with the facility of using with no annual charges for the first year and afterwards charges a minimal amount of sum of 250 INR along with the GST.