Hi,
Is Niyo offering only a SBM forex card or is this a fully fledged savings account? Besides zero markup fee are there any benefits in the Indian market?
Thanks
Hi,
Is Niyo offering only a SBM forex card or is this a fully fledged savings account? Besides zero markup fee are there any benefits in the Indian market?
Thanks
Hi @billubakra,
This is full fledged savings account.
Besides zero forex markup there is complimentary lounge access (yet to be activated), 24X7 visa concierge and upto 5% interest on savings.
Hope this helps!
Thanks,
Aditya
Thanks @iamadityamalik
Few questions-
Please answer all questions whenever you get time sir.
3 and 4. @Bansari @ashrithjain would be able to better help you with these.
Hope this helps!
Thanks,
Aditya
@iamadityamalik Thank you sir. Had a word with SBM bank’s customer support if an account is opened via Niyo then one will not get the benefits of lower cost of funds transfer. But the guy wasn’t sure himself.
@Bansari @ashrithjain can you please confirm point 4 and 5 as mentioned above?
Hey @billubakra !
NiyoX-Equitas and Niyo SBM are two different products and have their own banking apps.
Niyo SBM is a Zero Balance SA. Meaning, you don’t need to maintain any monthly balance and will not levied MAB charges.
You may visit here to view Schedule of Charges for Niyo SBM.
We regret to inform you that outward remittance is not possible as of now, but is in the pipeline.
No, any savings account opened in SBM Bank (India) cannot be linked to Niyo Global. Only the account opened via Niyo Global SBM can be used in Niyo SBM app.
Virtual card and physical card has ZERO Markup fee. As of now, it’s not possible to waive off deche card annual fee. We’ll inform you once that’s possible to do so.
As of now, we do not have referral system for Niyo SBM, we wish to launch it soon.
Yes, we’ll check the CRIF score again.
Regards,
Thanks Sir. Last two questions-
4. Any idea when the outward remittance will be allowed and its charges?
6. Since the physical debit card costs a high amount so can a customer stick to the virtual card or is it compulsory to issue the physical card? Is the SOC pdf nothing is mentioned about the virtual card https://static.goniyo.com/legal/Niyo_SBM_SOC.pdf
Hey @billubakra !
Regards.
Ah I thought that it is for the physical card. Will get back to you if I face any issues in the account creation process sir.
@ashrithjain
Sir a question from my friend’s side. He has a NiyoX Equitas account too. For this Niyo SBM account you will check his CRIF score again. Does checking the CRIF score 2 times a month impact the credit score?
Thanks @iamadityamalik Ji
Few questions-
Please answer all questions whenever you get time sir.
I will do my level best.and never miss anything