Niyo Global for NRI

What should one do if they’ll soon be changed into NRI Status? As per FEMA Rules, NRI shouldn’t hold a Non-NRE/NRO Indian Bank Account.

Hey @Sanjay24 ! You’re right! We currently do not support this account for NRI customers. Hence if you’re moving to abroad soon, you may not want to consider it.-WB



What if I already have both Niyo Global and NiyoX. Should I consider closing them or Can I keep them idle till I come back?

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Hey @Sanjay24, you may have to close the account before moving from India. If you keep it idle that may go into the negative balance and it may affect your cibil score too.

How will the account go into negative balance? Both are Zero Balance accounts right? And Its a Debit card right, What do you report to the Credit Bureaus?

Hey @Sanjay24, apologies for the above response. The balance doesn’t go negative until the user keeps their balance below the minimum at the time the merchant posts the settlement. Additionally, dormant accounts have no impact on CIBIL scores. The bank will first classify an account as inactive if it hasn’t been used for more than a year, and if it hasn’t been used for a second year, it will be marked as dormant. The user would be breaking the RBI’s FEMA guidelines if he kept running regular savings or current accounts while living abroad.

Understood Thanks!!!

Hi, If I am going on a work visa, can I use the card for initial few days for initial settlement. At this time, I have not been marked as NRI.

Hey @Bidhu_Baral

A warm welcome to our Niyo Community :slight_smile:

Yes, you can. however, we advise you not to continue once your status gets updated as an NRI.