Charges for cash withdrawl and POS Swipe Niyo SBM


I want to know the precise charges for withdrawing USD from ATM and the charges for doing POS transactions. Did not find them sufficiently transparent in the terms and conditions.


hello @jain26,

There isn’t any fee or charges for POS transactions but for ATM withdrawals it is INR 100 + GST (INR 118 total). This may be in addition to any fees charged by the ATM for the withdrawals.

Pro tip- Always decline the Dynamic Currency Conversion and pay with Mastercard/Visa Conversion.



@iamadityamalik Thank you so much for your prompt reply!

Is there any limit to the amount that we can withdraw (daily or overall)

Also, where do I get the option of selecting Dynamic Currency Conversion vs pay with Visa conversion?



There’s a limit of INR 7.5lakhs per transaction on the card. Though 5% TCS is charged on cumulative transactions once you cross the threshold of INR 7lakhs. For multiple international transactions made in a day, TCS is deducted only once a day at the end of day for the cumulative international transactions.

Dynamic currency conversion is when you withdraw money from the ATM and the ATM does the conversion for you. You would always want to Decline/Convert with VISA/Mastercard.

I’ve attached an image for your reference and you’d always want to decline conversion in such scenarios and pay in INR letting VISA do the conversion for you at their rates.



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Hey whats the 4% markup here?

@jain26 that’s the Dynamic conversion rate given by the atm and it could have anywhere from 3% to 15% of markup and that is the sole reason you’d want to decline conversion here and let VISA do it.