Beta Version - Niyo Global in partnership with SBM Bank India (State Bank of Mauritius)🌎

Hi,
As I heard from the community, Niyo provides the best forex card and I am glad for becoming a beta tester for this new card. As I will be moving to the UK for higher studies, this card gonna come in handy. I just wanted to know what is the transaction limit in a single transaction? Is it possible to make a transaction of more than 2Lakhs in one go? I need this information for paying a particular fee in my Visa application on the immigration website.

p.s - I am aware that of the daily transaction limit(7.5L/day). I wanted to know about the limit on a single transaction.

Hey @Amrit_Nayak . Welcome to Niyo community. The transaction limit for Niyo Global VISA Signature Debit Card is β‚Ή7,50,000 per day. While the transaction limit for money transfer via IMPS is β‚Ή1,00,000 and via NEFT is β‚Ή5,00,000 per day (after 30 minutes cooling peroid). Hope this helps!

Hi Team,
Thank-you for providing such great services. Is it possible at add all supported currencies in Live Currency button.

At this moment is it support Qatari Rial?
Another thing is, even after adding minimum balance β€œ1 Pending Action” bar is not going. Please looks into it.

Unable to add account in 3rd party upi application. I have already ordered the visa signature debit card and also rest upi pin. Help would be awesome.

Hey @Anmol_Batra . Thank you for your valuable feedback! I’d like to inform you that QAR is supported in Niyo Global by SBM. You may use the Niyo Global VISA Signature Debit card in over 150+ countries.

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Hi, I must have put the question wrong. So, I need to make a transaction of 2.3Lakh (2117 GBP) on the UK government website using this card. I wanted to know whether the transaction would be possible using this card. Please note that the above transaction needs to be done in one go and no other method apart from debit/credit card are available. Since most of the debit cards put an upper cap on a single transaction at 50K, is there any such restriction in using this card? And the 7.5 Lakh per day can be done in a single transaction or multiple transactions in a single day, right?

p.s- The transaction I am inquiring about is not an NEFT/RTGS etc. It is a simple transaction to be done using the debit card details and some authentication from your end.

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@Amrit_Nayak : you can go ahead and make the transaction, there is no per transaction limit and the per day limit holds. please do reach out if you have further questions.

Regards,

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Hello,

I am heading out of India in 2 weeks time. I was waiting for Niyo’s new product but it turns out that it is a beta program and might have limited entry. I tried downloading the new app from Google Play Store, but it said that the program is currently full.

  1. Is there another way to sign up for a Niyo card in the next couple of days so that I can wait for a week or so to receive it in a metro city?
  2. The DCB Niyo card also seems to have paused new onboarding. So are any of these (Niyo + DCB / SBM) two ready to onboard in the next 2-4 days or should I look at other options?

Thanks

Hi Dhruv,

We are increasing the limit, you can try and onboard yourself in the next one hour. please reach out if you need further assitance.

Regards,

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Hey
My name is Yash
While opening the account, it has asked me to enter the PAN number, after entering the PAN number my name appears as on PAN ie Mahender Kumar Yash Raj Bantia, after clicking next the name automatically enters as Mahender Bantia and I’m unable to change it.
So, is it okay if I continue like that because my name is Yash Raj?

Please reply me back asap.

Thank you

Hi Yash,

We are pulling your name as registered on PAN, if your full name matches with what is shown to you, you may please continue,

Regards,

Hi Yash,

Name would be captured as per PAN and would not be able to edit.

Regards,
Sai

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Okay cool.
Thank you so much for solving my query.

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Do we need to do biometric verification in this account?

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Hey @Sdsahu101 ! The Full KYC for Niyo Global by SBM is completed by your Aadhaar XML and CKYC check. No manual intervention is required for Full KYC completion for this account as the onboarding process is 100% digital. If you have any other queries, feel free to reach out again!

Cheers,
Ashrith

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Hi, why does it say that I should not use aadhar kyc to open account in future in the initial T&C? Also can I transfer funds from niyo SBM card to US bank account?

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Hey @KrishnaB ! Welcome to Niyo community. As of now, you cannot perform international fund transfers, but rest assured, outward remittance feature is in our pipeline and will be launched in the upcoming months.

What is this CKYC process?
Why I’m unable to go ahead?
What should I do to match the CKYC and Aadhar?

Hey @Yash_Raj !

(1/3) CKYC refers to Central KYC (Know Your Customer), an initiative of the Government of India. The aim of this initiative is to have a structure in place which allows investors to complete their KYC only once before interacting with various entities across the financial sector.

(2/3) As per our CKYC check, it looks you don’t have a KYC record in CKYC directory. So, unfortunately, cannot proceed further with the onboarding process. Regret the inconvenience. Hope to serve you in future.

(3/3) Aadhaar verification and CKYC check are two different protocols used for completing your Full KYC and the details are not matched among the two. However, inorder to proceed further, your name should match in Aadhaar and PAN records.

Hope this helps. If you have any further queries, feel free to reach out again!

Cheers,
Ashrith

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My name on PAN and Aadhar card are same.
How should I add KYC record in CKYC?

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