Physical ATM card

Physical ATM card is free or any charges for physical ATM card,while account opened .

Hey @Manda_Nirmal . Welcome to Niyo community. The debit card is free for the first year if issued before 31st March, 2022. The charges (₹177/year) may also be removed based on some eligibility criteria which will be announced in the upcoming months.

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@ashrithjain But in the Help section, all this detail (which U’ve mentioned) is not specified. There it just states that annual Fee of rs150+gst will be applicable. Pls share a Niyo url where this (ie wat U’ve specified) is mentioned with necessary detail.

Moreover it’s a forceful practice by Niyo to bundle the Physical Card with FULL KYC customers. I am just interested in parking my money for 7% interest, so why force customers???

Hey @RDX . The eligibility criteria is not yet announced by Niyo, so the current charges for the debit card (177/year - incl. GST) is applicable until the eligibility criteria is announced. That’s the reason you are unable to see these details in the support section.

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Plz tell just whether the debit is free or not?

So what’s the update as on date about the Card annual charges?

And I read in a few conversations here that niyo customers aren’t able to withdraw funds. What is that about?

Hey @RDX

To be able to withdraw funds for the first time after you receive debit card, you’ll need to active the debit card and set an ATM Pin and further need to enable card locks of your desired choice and set the card limits for POS and ATM transactions. Only then you’ll be able to withdraw funds.

Hope this helps! If you have further concerns, feel free to reach out to us again!

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Hey @Manda_Nirmal @RDX

The debit card will remain free for the first year and you will not be charged ₹177 if the card is issued before 31st March, 2022. For the consecutive years, the price is ₹177/year.

Further to add, the debit card charges will be removed in the future based on some eligibility criteria which will be announced in the upcoming months.

Hope this helps!

Thanks for the update @ashrithjain

And wat about the netbanking fund transfer? Are there any conditions / restrictions on that?

Pls elaborate on that front too

Hey @RDX ! Here are all the limits for fund transfers through

IMPS, NEFT/Bank transfers:

UPI Limits:

VISA Platinum Debit Card limits:

Hope this helps! If you have further queries, feel free to reach out again.

Cheers,
Ashrith

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Thanks a lot @ashrithjain

Two more queries:

  1. Are there any Account closure charges? Any related T&Cs?

  2. My A/C was opened on 2nd July and will complete the Full KYC tomorrow. Will i be getting the 1st year charges waiver for the Debit Card?

Hi @RDX

(1/2) There are no charges for account closure
(2/2) There is an ongoing promotional offer going on wherein 1st year fee would be waived off for onboarding before 31st March 2022.

Hope this helps!
Bansari

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It did help.

Thanks @Bansari

1 Like

Physical card is free

I love the card :kissing_heart:, wonderful experience with the look it looks classy

Hey @Multitasker . Welcome to Niyo community. We’re glad that you liked the debit card.

Happy banking