International transaction abilities of Niyo SBM

Hi, I currently own an SBM Niyo savings account and a Visa Signature Forex Card. I took it because I am planning to study at the UK. I would like to have clarifications regarding international transactions.

  1. It is required for me to pay an initial deposit as fees to my university. The fees is to be paid from India to the UK. The amount might vary from 4 lakhs to 7.5 lakhs INR. Is it possible for me to send this much amount in GBP to UK from India ?

  2. Heard that this card and app is still in beta testing phase. Is this going to give me any trouble when I reach abroad and try to make payments (contactless and pos) on supermarkets, public transport, university fees etc ?

  3. Also, when is the “Lounge access program” getting launched with Niyo SBM Visa Signature Card ?

Hey @jamesabraham ! Welcome to :niyo_community: Community. We’re happy to have you onboard :airplane:.

  1. The transaction of your initial deposit fees has to be made via debit card as outward remittance is not yet launched. However, do note that it’s in our pipeline and wish to launch it in the upcoming month(s).
    NOTE 📋 : You will be charged a 5% of Tax Collected at Source (TCS) on value greater than INR 7.5 lacs.

  2. Yes, you heard right! The app is still in beta phase, and, WE’RE ALL EARS:ear:. If you do have any suggestions please do let us know here: Feature Request > Niyo SBM.
    NOTE 📋 : The transactions made by Debit card on ECOM or ATM or POS or Contactless won't be affected and will continue to work 24x7 worldwide.

  3. The airport lounge access is already LIVE. Read more about it here: #FeatureUpdate > Airport Lounge Access ✈️.

If you do have any further concerns, feel free to reach out to us again! :sunglasses:.