Charged 11,758 rupees for a transaction of $158.10 (rate of 1$ = Rs. 74.37) whereas the current rate on XE and Google is 1$ = Rs. 73.20

How does this work? Niyo says real-time conversion rates apply but charges 1.6% more than mid market price?

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@sagarbhathwar …is it more than the visa exchange rate too? though I am yet to do any foreign transaction, I wanted to know whether at the time of payment the exact amount (INR) to be deducted is displayed by Niyo?

Which merchant did you use?

Hey Sagar! The Niyo Global card works through the live Visa exchange rates. Please visit the link for the live exchange rates: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html.

Then, it’s expensive.

Currently the rate for 1 USD is 73.55 INR and on the VISA’s website, it’s 1 USD = 73.88 INR??

Can you clarify, why is there so big of a difference. My main reason for getting this card [I mean the bank account] was to use in foreign currency, paying 0.5% everytime, doesn’t serve the purpose.

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