NiyoX - Equitas debit card AMC

Support & Troubleshooting
, ,
1

INR 234.82 debited from A/c XXXXXXXX5143 towards CARD ANNUAL MAINTENAN:240923/143396035 Value 25-SEP-2023 . Avl Bal is INR 6,101.63. For any query call 1800-103-1222- Equitas Bank

whereas I know that Maintaining 5K for any 3 month won’t cost DEBIT CARD AMC charge…

Please Refund above amount (₹234.82) as soon as possible.

Thank you

2

Hi Biswajit,

Apologies for the inconvenience,

Kindly write an email to global@goniyo.com.

Thanks

3

Inspite of maintaining AMB of RS. 5000 per month an AMC of 234.82 has been deducted from my account.

I have raised the issue by writing to global@goniyo.com. I kindly request that you investigate this matter promptly and arrange for the reversal of these charges as soon as possible.

4

Hi @Dk23 ,

Apologies for the delay in response.

Could you please provide the ticket reference number? I will personally check on it and coordinate with our team to ensure the issue is resolved as quickly as possible.

Thanks

5

Hi Jumain. This issue has now been resolved. Thank you! :blush:

2 Likes
6

My NIYO equitas account also get debited with AMC charges of Rs. 234.82 On 14th August despite of maintaining balance of Rs 5000. Please revert the AMC charges as soon as possible.

7

Hi @Aishwarya_Mittal

Welcome to the Niyo Community! :raised_hands:

We understand your concern regarding the AMC charges levied by the bank.

Unfortunately, we’ve had to discontinue the AMC reversal feature, even though you maintain a minimum balance of 5k. We’re working on introducing new rewards options in the future, so please bear with us in the meantime.

Thank you for your understanding.

8

Niyo app is showing that the AMC charges will be reversed by Niyo and I have not received any communication regarding the updated terms and conditions for niyo equitas AMC charges so adding these charges seems unfair to me. Please revert these charges as they are not communicated in advance.

Screenshot_20240826-194601
Screenshot_20240826-1946011080×2340 106 KB

9

Where do you see this? I also had a deduction, I’ll close the account if charges are not reversed. Let me know the process @Preeti

10

Hi @Aishwarya_Mittal,

We understand your concern. Please be informed that there has been a recent change in the bank’s policy, and the AMC reversal feature has been discontinued, even if a minimum balance of 5,000 is maintained.

If you have any further concerns or need additional assistance regarding this matter, please feel free to contact Equitas Bank directly at customerservice@equitasbank.com or call 1800 103 1222, Monday to Friday from 9 AM to 6 PM.

Thank you for your understanding.

11

Hi @AlekhyaDas,

You can refer to this post for further clarification regarding the same: NiyoX Debit Card AMC.

Appreciate your understanding!

12

This post is mainly for me to find the answer to question - how has the customer support of niyo become not just worst but non-existing?

When I purchased niyo-equitas card mid/late last year, I enquired about the AMC applicable on it via the customer support chat service? I was first told(by a human customer care representative) that there is no AMC applicable. When i told the charges list mentions it, she informed me that when charged, it will be refunded/reversed by niyo. And it did.
I was charged this month the same AMC and this time it did not get refunded/reversed. –

  1. I was not informed of the change in policy if it ever changed. I get that they may have to make a change in the policy for whatever financial reason, buy they should have informed the customer about it.
  2. When I enquired via the customer chat service, I am still told that niyo immediately reverses it. It didn’t. But this is now told by 'niyo assistant ’ And there is NO WAY to talk to a customer care representative, a human.
  3. Earlier, we could raise a ticket for such service. Now, that page just shows past tickets but no way to raise a new ticket.
1 Like
13

Hi @Anand.sharma,

Welcome to the Niyo Community! :raised_hands:

Thank you for reaching out and bringing this to our attention.

Regarding the Annual Maintenance Charge (AMC), there has been a recent update in the bank’s policy, and the AMC reversal feature has been discontinued. You can find more details here: [NiyoX - Equitas debit card AMC - #10 by Nith_In]. I agree that this change should have been communicated more clearly.

While the Niyo Assistant can assist with many queries, if it can’t resolve your issue, it will automatically transfer the chat to a human agent for further help. Alternatively, you can email us at global@goniyo.com with your mobile number, and we’ll arrange a callback at your convenience.

If you’re having trouble raising a ticket through the app, please email us directly at global@goniyo.com, and we’ll ensure your concerns are addressed promptly.

For specific issues with Equitas Bank, you can reach them at customerservice@equitasbank.com or call 1800 103 1222 (Monday to Friday, 9 AM to 6 PM).

Thank you for your feedback, and we appreciate your patience.

1 Like
14

I also charged AMC this month and when I contacted niyo team via mail they told me to avoid AMC by permanently blocking niyo-equitas card. They changed their policy in June 2024 without informing us. This is ridiculous and sad.

15

Dear NiyoX and Equitas Team,

I have been a loyal NiyoX Equitas customer for over three years, and I have to say, my experience up until recently has been mostly positive. I’ve appreciated how the app has matured, the support was prompt, and everything worked smoothly. However, since July, I’ve encountered several serious issues that have left me questioning the direction in which NiyoX is heading.

Gripe 1: Account Closure Without Notice
A shocking issue I recently faced was when the partner bank began closing accounts without any prior communication, either from Equitas or Niyo Support. My brother’s account was closed due to an “unserviceable pincode,” leaving his money stuck for more than two weeks until the issue was finally resolved with a DD. The strange part? We share the same pincode, yet my account was not closed, possibly because my AMB is over ₹20,000. Why was this marketed as a zero-balance account only to later penalize users for something as vague as an “unserviceable pincode”?

Gripe 2: Uncommunicated Changes to Debit Card AMC Reversals
For the past three years, I’ve had my Debit Card AMC reversed upon fulfilling the necessary conditions. This year, I reached out to Niyo Support, and they confirmed that the reversal would happen under the same terms, and I would be notified of any changes to the T&C. To my disappointment, after being charged the AMC on August 25th and contacting support with all required conditions met, I was informed (after a long delay) that the T&C had been changed mid-year without any notification. It’s highly frustrating and raises a major question: whose responsibility is it to keep customers informed about such crucial changes?

As a loyal user, it’s disheartening to see such a drastic shift in service quality. I’ve had confidence in NiyoX for years, but these issues, especially the lack of communication and transparency, make the future of this service look quite uncertain to me.

While I have already lodged a formal complaint with the RBI Ombudsman, I felt it was my responsibility to share this feedback with the team. This post is not intended to seek a reversal of the Debit Card AMC, but to express my concerns and ask whether NiyoX is still committed to the transparent, user-friendly service it once offered.

1 Like
16

Hey @Sayan_Dutta ,

Greetings of the day.

Thank you for your feedback and for being a loyal NiyoX Equitas customer. We understand your concerns regarding the account closure and regret the hassle you and your brother had to encounter for any inconvenience caused. The account closure was due to an unserviceable PIN code, and the bank had sent prior communication to all affected users’ registered emails with detailed information stating that the available balance in the account would be refunded in the form of DD.

Regarding the Debit Card AMC, Initially, we assisted with AMC charges, but now, it depends on the bank’s policies, which are beyond our control and managed at the bank level, which limits our direct control.

For further assistance, we kindly ask you to contact Equitas Bank at customerservice@equitasbank.com or 1800 103 1222, Monday to Friday, 9 am-6 pm.

17
  1. My Brother didn’t receive any prior communication regarding the account closure, I can confirm and Niyo can investigate if they want. I don’t know if you have copy-pasted a generic response but as you will again go through my original post I have clearly stated that my pincode is the same as my brothers so how come the bank is still serving me with my “unserviceable pincode”?
  2. I understand that T&Cs are subject to constant revisions but again asking whose responsibility it is to communicate it to the customer so that the charge can be avoided by blocking the card?
18

Hey @Sayan_Dutta ,

We deeply regret any confusion or inconvenience you may have experienced. Your feedback is incredibly important to us, and we fully understand your concerns about the prior communication regarding the account closure. Please be assured that we take your comments seriously and are committed to addressing your issues.

To provide clarity, we are sharing the process update here for your reference. We recognize that it might sound generic, but please know that we are conveying this crucial information with the utmost responsibility.

For any further questions or clarifications regarding the communication email, you can always reach out to Equitas Bank directly at customerservice@equitasbank.com. Additionally, please keep us in cc at niyox.escalations@goniyo.com

We’re here to support you every step of the way.