Welcome to the Niyo Community! Thanks for all your questions and feedback, we love hearing from our customers! Here are your answers -
1. What are forex currency markup fees?
Currently, the markup fees are:
POS/ECOM - 3.5% + Taxes
ATM Withdrawl - 3.5% + INR 110 + Taxes
Balance enquiry - 3.5% + INR 25 + Taxes
However, we’re working towards a ZERO Forex markup variant and we’ll keep you posted about it.
2. Is this a neobanking revolution or a product offering of esfb?
NiyoX is a neobank offering, which comes with a 2 in 1 account. The savings account is offered in partnership with Equitas Small Finance Bank and the wealth offering is provided by Niyo Money.
3. Future roadmap plans amaze me?
We’re currently working on a number of features like Rewards, Budgeting and Spend Analysis to name a few.
In terms of the card design, we’re working on two more variants that will be available in the next few months - A Signature Card for sure and maybe Metal one that would be either paid or available based on certain criteria.
Also, there is no immediate provision for a chequebook, however, we expect the same to be in place by end of next month.
Hope I’ve answered your questions. Please do take care of your health and have a good day!