Niyo Global VS Zero Markup Credit/ Debit Cards

I have been trying to find a way to pay for my business expenses in foreign currency and discovered the following ways.

  1. Niyo global -
    Pros - Zero markup, complete transparency in rates, ease of use (mobile app)
    Cons - Unclear about regulations (LRS), Unclear about the corporate card, waiting period

  2. Indus Exclusive Signature Debit card
    Pros - Zero Markup, 3% reward points, easy issuance, No LRS
    Cons - less transparent (on forex rates),

  3. RBL world safari credit card
    pros - Zero Markup, 2% reward points, No LRS
    cons - difficult issuance, less transparent of forex rates

  4. HDFC Infinia credit card -
    pros - premium services and access, 1% reward, No LRS
    cons - difficult issuance, minimum spends associated, less transparency.


For your options:

  1. Niyo Global : LRS regulations are same as any other bank.
  2. Indus Exclusive Signature: No issue with the transparency on forex rates, as they would also use VISA forex conversion. So, this seem to be the best card for you.
  3. RBL World : Again, no issue with the forex transparency. Good option if you want. a credit card.
  4. HDFC Infinia : This card has 3.3% rewards, with 2% + GST markup charges. Acceptable option. Also consider Standard Chartered Ultimate card. (3.3% rewards, with 2%+GST markup). No issue with forex transparency.

Niyo Global is good for those who do not want a forex card for each country, and want to withdraw cash sometimes. Also, want a no fuss 0 fee card.

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Cards apart from Niyo, doesnt offer to check the rate before transaction. You only know it when you get it in your statement.

Niyo isnt clear about LRS as of now.

I have used Indus, it gives rates equal to Niyo. plus 3% rewards. Looks like the best option.

How can banks/companies registered under rbi waiving off the LRS from the cards issued