International online transactions

I got to know that we can also use niyo for online shopping by the way many international ecom companies provide cashback as well will I also receive the cash back if I do transaction on that site with niyo card

Btw I was also thinking that suppose somebody wants to send me x amount of usd can I also receives the same and get it converted to local currency ?

@4ashish niyo sbm account is like any other savings account in india. The only difference between this and your other banks is when you use your niyo sbm debit card for foreign transactions, you don’t pay any forex markup which could be 2-4% for other banks.
so lets’s say you swipe your card for 20 USD in the USA, the amount would be converted and charged in INR from your account balance. Also, transactions are settled 2-3 days later so you may see some settlement amount 2-3 days later depending on the forex rates. it could be credit if the forex rates have gone down or debit if they’ve gone up

1 Like

Okay I understand that but what about cash back and foreign currency ?

Gosh I wish there should be a helpline number for this kind of matters

cashback works the same. The amount gets converted into INR.

Okay so that means other people can also send money in their currency as well and it will get converted into inr right ?

nope. to receive money into this account, it needs to be in INR or a wire transfer like in a normal savings account in INDIA.

1 Like

Okayy got it okay got it understood👍