Comparison between Niyo Global SBM and Niyo Global DCB

Hi team,

I am thinking of buying a forex card for my upcoming foreign travel from Niyo. Until recently, the choices of buying a Niyo Global card were quite simple, i.e., only one - Niyo Global DCB card. But now, since another card, Niyo Global SBM has been introduced, I am finding it hard to get the relevant details about the new card. Hence, I have a few queries -

  1. Is there an option to select which card we can buy among DCB or SBM at present? I am hearing that slots have been filled for the beta program of SBM and the DCB enrollment has been paused for a while. In this case, how should I get a Niyo Global card?
  2. Is there a comparison factsheet of benefits and schedule of charges between SBM and DCB card?
  3. Is the SBM card an “upgrade” over DCB card?
  4. Will the DCB card be deprecated once the SBM beta is complete?
  5. When will the SBM beta program be complete?
  6. I am seeing a disclaimer that there might be some issues while using the SBM card in the beta program. For a person, who would rely on the card for all the international expenses during the trip, this does not seem comforting. Hence, I want to ask about the active list of problems and whether there are any positive feedbacks for the use of the SBM card internationally.

Hoping to hear back from you soon!
Thanks in advance!

Hey @unkemptArc99 ! Welcome to Niyo community! Hope you’re having a great day :grinning_face_with_smiling_eyes:

Yes, there’s option to select among the two! You may go ahead and download Niyo Global by SBM from here: Download for: Android | iOS

We at community encourage users to search for answers and I believe your query has been already answered here: Queries regarding the new SBM card - #7 by Vinay_Bagri

All the products at Niyo are launched in partnerships with different banks just to make your life easier in the banking space. So, you may go ahead and choose whichever is convenient for you.

NO! The onboarding for Niyo Global by DCB has been paused. We wish the resume the onboarding process in the upcoming month(s). Niyo Global DCB will continue to get future updates and support even after the launch of Niyo Global by SBM.

The application is still in beta phase. Do note that we’re rigorously working to provide you a better experience so that you don’t face any issues in the future. Stay noted that we’ll launch the stable version of the app once all the debugging is done.

Now this is a personal preference! As the app is still in beta phase, you might face bugs here and there! But rest assured, there won’t be any transactional related issues, i.e you can use the Niyo Global VISA Signature ‘Tap & Pay’ Debit card in over 150+ countries without having to pay any Forex Makup charges, and can also receive unlimited funds in the Niyo Global SBM savings account and earn upto 5%(*) interest on your savings.

Hope this helps! If you have any other concerns, feel free to reach out again!

Cheers,
Ashrith

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Hi team, I would like to know all the charges pertaining to niyo global sbm card.

  1. Can I get a pdf of all the cost involved like we have for global card from dcb?
  2. Can I transfer fund from multiple bank account to niyo sbm card?
  3. do I need to open a bank acc with sbm in order to use niyo sbm card?

Hey @Ganesh_Ravindran ! Welcome to Niyo community. We’re happy to have you onboard :airplane:

  1. You may read the SOC for Niyo Global by SBM here: https://static.goniyo.com/legal/Niyo_SBM_SOC.pdf

  2. Yes, you may transfer funds from any bank account using your account number and IFSC. You may transfer via IMPS/NEFT/RTGS.

  3. Once you are successfully onboarded to Niyo SBM, you are provided with a Zero Balance SA. You will get a Niyo Global VISA Signature ‘Tap & Pay’ Debit card once you deposit an initial amount of INR 5,000 and order the card.