#Important > All you need to know about the Annual Charge on DCB Niyo Global Card!

Hello all!

If you’re a DCB Niyo Global Card customer, you would have received a communication from us yesterday regarding an annual fee of ₹200 + GST to be charged on your card. As an organization, transparency lies at the heart of our relationship with our customers, and we continue to put our best efforts into keeping you informed, answering your questions, and having conversations with you, right here on the Niyo Community. Some of you have written back to us with your concerns and we’d like to give you full clarity regarding these fees.

We at Niyo are all about customer service. Without happy customers, the DCB Niyo Global Card would not be the most sought after card for foreign currency transactions. Over the past year, more than 1 Lakh DCB Niyo users have saved over $5 Million on Forex Markup. In other words, an active user saved about ₹3,500 in Forex Markup! We hope you’ve certainly saved on these charges that other payment methods usually charge. The DCB Niyo Global Card mobile app has been best rated for it’s seamless international transactions, quick transfer and instant card reload features.

While this card was free for the first year, the Annual Fees mentioned earlier will be charged for future years of DCB Niyo Global Card usage, i.e. in Dec 2020 you will be paying to use the card for 2021.

Why this charge, you ask? We’ve set up this annual charge of ₹200 + GST to help maintain the high quality customer service, features, and everything else you’ve come to expect from us. We have also set up easy ways for you to earn back this annual charge!

Here’s everything you need to know about the charges:

  • This fee will be charged in the month of December 2020 from your account for the period Jan - Dec, 2021.

  • We will refund this fee back to your account if you spend more than ₹10,000 with your DCB Niyo Global Card in the next year.

  • The fee will be refunded within a month of you crossing the ₹10,000 mark anytime within the next 12 months. This means, if you spend ₹10,000 by January 2021, you’ll get a refund of ₹200 + GST into your account by February 2021.

  • You can find the complete schedule of Fees and Charges (SOC) for DCB Niyo Global Card at https://www.goniyo.com > footer > legal > DCB Niyo Global Card SOC.

Please don’t hesitate to leave us a comment here, or reach out to us with any questions via WhatsApp using the DCB Niyo Global app. We’re always here to help with all your queries and concerns.

We sincerely thank you for your patronage and hope you’ll continue to use Niyo for your international transactions!

4 Likes

Last time you guys enforced MAB on Niyo IDFC account stating the same reason and you had to revert back so I wish this doesn’t meet the same fate.
And Can you please clarify if 10000 threshold include both domestic and international transactions? Is wallet loading included?
And how do u plan to charge the account if there is no sufficient balance in it ?

3 Likes

This is anything but transparent.

  • There should have been an advance notice. If the fee is chargeable in Dec, you can’t inform just 5 hours before. There should be a 2-3 month lead time and more than one reminder email clearly laying out the details.
  • Neither this post nor the email mentions how to close the account to avoid paying this fee. The app also doesn’t have an option to close the account.
  • I’ve submitted an account closure request yesterday. I’m yet to get a response from the support team.

Due to the pandemic, I’ve haven’t travelled internationally this year and probably won’t travel the next year. The only reason I kept the card was the explicit promise that there is no fee. Now that has changed, I’d like to close the account.

4 Likes

Can you please clarify if Rs 10000 threshold include both domestic and international transactions? Is wallet loading included? Does it include both domestic and international ATM withdrawal ?

@Aswathy_Nambiar As expected this sudden unexpected moved has backfired on social media and users are now closing their account for not keeping up the promise you did while opening the account.
Did you guys foreseen this ? I mean were you already prepared for this backlash ?

Ditto, I also send support a message asking them to close my account. They closed my request without any response. I have blocked my card and have moved my balance to my other account. NiYO is shifting towards unethical tactics. If they try to charge me after I have explicitly stated them to close my account, I surely will file a complaint with RBI Banking Ombudsman.

Its better if you guys can tell the charges of Niyo IDFC Card also in advance, since I cannot find any Fee Schedule about it on the website.

1 Like

Hey there! Yes, the 10000/- include both domestic and International transactions. You need to spend this sum for the year to get the reversal on the annual fees. The amount will get charged whenever it has sufficient balance in it. LK

Hi @goneo,

Our team has been tirelessly putting their best efforts forward to give our customers a great experience with our products and services. The 1st year of card usage was free, and these annual charges have been set in place for the future years so we can continue providing our dear customers the best in class products and services they’ve come to expect from us. It should also be noted that customers can, in fact, earn this fee back by spending ₹10,000 over the course of the next year, and that this card works just as seamlessly in India as it does abroad. We’ve also been working hard to help our customers with all their queries and concerns regarding this annual fee with the utmost transparency.

Hey Indyan! We are sorry to see you go. Your account has been closed as per your request and there will not be any fees levied on this account anymore.

We hope you consider us again in the future! Check out goniyo.com to stay updated on our latest product offerings. LK

Hey Shubham! Please be rest assured, your account has been closed as per our records and no further fee will be levied. We hope you consider us again in the future! LK

The annual charge is low and not a big problem. I have recently opted for the card even after knowing about the charge you guys are imposing. Because I think the way this card works itself shows its worth (atleast compared to other forex cards). But the real problem comes to the support offered.

It’s been only 2 days and I completely got to know how the customer care works. And I am sorry it’s not to the mark. One of my UPI transaction got failed recently and there is no record of the transaction at all in my account. I tried raising ticket/whatsapp but no response from the team.

If you say, these annual charges helps you to build a better and more reliable support team. I am happy to pay for it.

2 Likes

Hey Abhinav! Welcome to the Niyo Community! We thank you for your time on call. As discussed, we are investigating and trying to get to the root of the issue. We will get back to you with an update as soon as we can. LK

After demanding for earlier un announced charges, we are getting more wrong info rather than fixing the mistake.

Its clear from the first mail sent, that you wanted to take charges for the previous year.

You will be charged an annual fee of ₹200 + GST. As a user whose account has been active for over a year, you will be charged this annual fee in Dec 2020.

Even if you wanted to take charges for a card for which was told there was no such charges when joining, you should have at least checked previous years usage like other banks.

more sources

I am unable to login in my DCB account after I opened IDFC account.

I am unable to reset it too. Please help.

I requested for account closure using the whatsapp method as I no longer live in India & have not been using the card since 10+ months. I haven’t been getting any response from customer support so far.
Best I could get from the support team was a canned response yesterday about charges to be levied in the future.
@Lucky - Can you please get this checked and help close my account? I can share the 2 ticket ids that I created, if required.

Not so good customer support. INR 5000 dissapeared and unable to transact when needed - says invalid card.
Embarrasing when you are travelling.

No one is replying to tickets or wa. I need to make timely payments but since 5000 disappeared and no one replying, no option but to put up with it.

1 Like

Hey Muzirian! Welcome to the Niyo Community! We want to ensure that you keep getting benefitted from the card and continue to save on Forex Markup like you always have been. This is being charged to all the customers who have successfully completed an year or more with the card, but the idea behind this remains to ensure that you get the the high quality customer service, features, and everything else you’ve come to expect from us in the coming years as well. LK

Hey Akash! Welcome to the Niyo Community! We see that you indeed have an active Niyo DCB account. Please note that we have now 2 separate applications for both Niyo DCB and Niyo IDFC FIRST savings accounts. You can try signing out of Niyo IDFC FIRST and then login with your Niyo DCB credentials or if it shows you any sort of error, kindly share it so that we can check and assist you further. LK