Account opening delayed


I have been trying to get onboard and recently completed the process also. Normally the account creation takes 2/3 hours but it is showing as it will take 6-7 days for the account to open can you please help expidite the process as i would be travelling soon

Hey @Abhishek2611! Welcome to Niyo Community!

A few users are facing this issue while onboarding for Niyo SBM. This has been highlighted to our team and they are working on it. Unfortunately, it’s taking a long time and we do not have a tentative timeline for it. We’ll reach out to you upon receiving an update on this from our team. In the meantime, you may try NiyoX which offers a 0 forex mark-up for international transactions.


Can you highlight the difference between the two products

Hey @Abhishek2611! To know the differences between NiyoX and Niyo SBM, you may read our previous post here: Difference between NiyoX and niyo SBM and niyo DCB - #2 by Deepak


hi, Deepak one more query is that if I open a niyoX account and later on my Niyo Global account is opened and after that, if I decide to close the account would I incur any charges NiyoX is also a 2-in-1 account like Niyo Global won’t that take the same process of CKYC and take the same time for the same. and if I decide to close the account after 30 days of opening any charges i would incur?

Hey @Abhishek2611! If you close your NiyoX account between 15 days to 1 year from the date of opening an account, you’ll be charged Rs.250+GST as account closure charges by the bank.
For NiyoX, you can complete the KYC through a live video call (video KYC) or you can schedule an offline visit so that our KYC team will reach out to you at your doorstep (based on service availability in your region) and completes the biometric KYC verification.

hi, Deepak a query that I had is can I make a UPI transaction in a foreign country with my Niyo SBM account and what would be the forex rate applicable in such a case? for eg. if i add my Niyo global account on google pay and make payment via the same would that be possible and what would the be exchange rate in that case

Hey @Abhishek2611! International UPI transactions are not permitted for Niyo SBM. As of now, only POS, online and ATM transactions are permitted abroad.


Hi Deepak can i use the virtual debit card on pos machines by adding it to google pay?