Niyo SBM shows 0% markup fee and no transaction charges but it charges 13% markup fee + 3.95 EUR transaction charge when withdraw 20 EUR from ATM


ransaction and markup fee

I guess this is because you have selected to perform transaction in your home currency(DCC).
If there is an option then you should try in local currency to see if those charges still applies.


@Basil_joy that’s not the fee charged by niyo or sbm bank but the atm machine. In order to avoid that, withdraw money without conversion and let sbm bank do the same for you and that would be 0% markup


Hi @Basil_joy,

Welcome to the Niyo Community!

ATM charges for international withdrawals are ₹100 + applicable taxes (By the respective bank)


Always choose the option of Decline Conversation in Euronet ATM machines and you will save

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Transaction charge was 3.95EUR = ₹345
And 13% markup fee. Plz Clarify this and how to save this next time.

@Basil_joy as I mentioned -it was charged by the atm and atms in europe are infamous for doing that and tricking the customer. Always decline conversion and only then in it’ll be the rates told by sbm bank and niyo

Hey @Basil_joy ! Hope you’re doing great. From the screenshot that you’ve shared with us, it looks like DCC is charged on this transaction. The amount 3.95 EUR is not charged by us, but is charged by Acquiring Bank’s ATM.

Dynamic Currency Conversion charges are levied by Merchants who offer customers an option to pay in their home currencies (in your case, INR). However, by doing so, fees upwards of 7% of your transaction amount may be charged. We always advise our customers to transact in the local currency of the country they are visiting.

Let me guide you with the troubleshooting steps here:

  1. Open your Niyo SBM app and headover to card settings.
  2. Swipe right to lock the card, further, left to unlock the card.
  3. Go to ‘Other Locks’.
  4. Lock all the five card locks seperately and unlock them seperately.

Note: Make sure that all the card locks are in ‘green’ colour.

Post this, you should be able to make any transaction using your physical card seamlessly!

Hope this helps. If you do need further assistance, feel free to reach out to us again!


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Euronet ATMs are known for scamming people into paying exorbitant transaction fees. Avoid them and withdraw from regular bank ATMs.

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Again it comes mark-up fee. What can I do?

Is there an option to decline conversion there?

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Hi I am Rahul Rathod

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Yes, but when i select decline conversion, the entire process got cancelled and ATM card ejected.
I am totally disappointed.

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Again it comes with 4% markup fee

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It has been 1 week and no response from niyo. It happened again.

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@Basil_joy all you need to do is Decline conversion. Once you do that, SBM bank and visa will handle the conversion and you won’t be charged any fee

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I did, but when i did that, the entire process got cancelled and ATM card ejected.

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that’s a known issue. raise a ticket for it in your app

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Totally frustrated.

Email :-