Feels like the app is in Beta but the banking system is in Alpha; 1 week into trying Niyo Global (SBM)

TL;DR: Don’t expect to use this for mission-critical work for now. The “beta” tag kind of signifies that, but I was expecting only the app to be unstable. Here, the entire banking system is unstable. The whole system isn’t in beta, it’s in alpha and it should only be used to report issues, not to bank on.

  1. Feels like not just the app or the product, but the entire bank is in beta. Sometimes OTP doesn’t arrive, other times the bank’s servers are down. This applies both to the app and the bank’s net banking website. When writing this (9th August, 7 AM), the bank’s servers have been down for more than the past 12 hours. This is the longest I’ve seen it yet.

  2. Zero FOREX markup, but the card doesn’t work. It gets declined on 100% of the websites I tried (all international sites). My NiyoX Equitas card works just fine, which, I don’t know what to make out of. The bank’s customer care did call me two times initially when the transactions failed and asked me to try after an hour. It never worked for me.

  3. App-specific issues. The app randomly disables biometric auth, for which I have to go to the settings and enable it again. It still has that “Order your Signature VISA card” inside the pending notifications, while I have already received the physical card. Then the holy grail of OTPs. They send you OTPs for almost every tap you do on the app. It is one of the annoyances with other Niyo apps as well, but on this one, it’s worse because it doesn’t work most of the time. Sometimes the app will recognize the OTP, other times it just keeps spinning the loader overlay, other times it would show a black screen. The black screen also shows up for me right after adding a payee.

  4. The good stuff. Well, the benefits of a regular savings account. Compared to Niyo Global DCB, you get a zero-balance saving account with all the perks like UPI and interest on savings and stuff. Also, the card benefits like zero FOREX markup and lounge access, when and if they work.

I’m gonna withdraw money from this one as soon as the servers are up and get back to it only to test the app. Strictly no transactions. I know the folks at Niyo are working day and night to make this system as stable, as soon, as possible, and I hope these pointers help them in the process. But if you’re a user planning to use this product on a daily, think twice. You’ve been warned.

As for the existing users, how’s your experience so far?

Appreciate your feedback. We are working hard to resolve all the issues and you would see significant improvement in the coming time.

Can you also share the international merchants on which your card got declined?

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Thanks! Looking forward to all the improvements and updates!

Here are some merchants that I remember:
Namecheap, Namesilo, Dynadot, Sav, Porkbun, Flaticon/Freepik, Cloudways, and Vultr.


Agree. App also has some UX and Loading issues. On some screens I was clueless about the next step to take.

And upon each action, it takes 10+ seconds to change the screen.

It won’t be wrong if I say, this is the slowest banking app I have ever tried