I have a Niyo SBM debit card and have been attempting to receive inward remittances, but they have been continuously declined by SBM. This issue has persisted since April 18 with no resolution so far. I keep receiving decline emails citing the following reasons:
I have international Transaction enabled with limits set to max so app isnt the issue and so far, I’ve been informed that the bank is declining the transaction. I contacted SBM, and they stated the reasons are as follows:
Then I tried completing the transaction again on June 9th, but it still failed. When I emailed them about the continued failure, I received the following reply:
This situation feels like a catch-22, constantly being redirected from one department to another just to receive my money. Is there a resolution available?
In contrast, I used Axis Bank, which worked flawlessly without any issues (I have the bank statement if needed). However, my experience with this bank has been nothing but a headache. I hope anyone reading this can help me resolve this issue once and for all.
We sincerely regret any inconvenience this may have caused. Please allow us some time to review your concern thoroughly and work towards a resolution. We truly appreciate your patience and will get back to you with an update at the earliest.
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Thank you for your time over the call. As discussed, we request you to kindly share the ticket ID provided by SBM Bank. Once we receive the details, we will coordinate with the bank team from our end, have the matter reviewed, and assist you further with the appropriate resolution at the earliest.
We truly appreciate your understanding and cooperation.
Thank you for sharing the ticket ID with us, @Max09xz. We have forwarded the concern to the bank team for further review. Please be assured that we will maintain regular follow-ups with the team and keep you informed of any further updates as soon as we hear back from them.
We truly appreciate your patience and understanding in the meantime.
We appreciate your time over the call. As discussed, we have re-escalated your issue to the bank team along with the SR numbers you provided. We are tracking this closely and will keep you posted the moment we have an update. We sincerely apologize for the unexpected delay and truly appreciate your patience and understanding in the meantime.
Payment was done through Visa Direct (this is a push-based payment system)
I’ve also went to SBM bank and they told me that since it’s a Niyo Account, so it’s a wallet-like account and is to be used only for spending money outside India or international payments, not for inward remittance.
Thanks for providing these additional details! We have re-escalated this straight to our bank team to look into the inward remittance issue. We’ll get back to you with an update as soon as possible. We appreciate your patience and understanding in the meantime.
We appreciate your time over the call. As discussed, we would like to inform you that this concern pertains to an inward remittance. As we do not have the necessary access to review these transactions, we request you to contact the parent bank directly to check the status. We appreciate your patience and understanding.
Please feel free to reach out if you have any further concerns. You can also connect with us via our 24×7 in-app live chat or email us at “global@goniyo.com”. We’ll be happy to assist!
