Surcharge On NIYO Global Card

Dear Team,

I have been charged surcharge on my transactions used by Niyo Global Debit Card at Maldives.

Can I please know the reason why is it happening as it was supposed to be a zero forex markup card with no other charges

Hey @onsomani! If you are making an international PoS transaction, FX adjustment charges may incur.

Let me try to help you understand better about FX adjustment.

Even though the customer is debited in real-time on the day of the transaction, the actual settlement process can take up to 10 days. Thus, a small amount of charge can be incurred due to the difference in foreign exchange rates over the 10 days.

Here’s a closer look:

TO - The day you make a transaction, we debit your account by the prevalent FX rate for the day.
T2 - Typically, the merchant sends settlements within the prevalent FX rate for the day.

If there’s any difference between TO and T2 Fx rates, it’s either:
› Debited from you (if T2 rates are more)
› Credited to you (if T2 rates are less)

If this doesn’t help you, reach out to us and we’ll connect with you to assist you better.


No it’s not FX adjustment as I said, it’s surcharge that ~10% of the amount swiped.

Please check the below mentioned photo and red lined transactions

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Hey @onsomani! Thanks for sharing the screenshot. We will have this investigated and help you with your concern. We’d request you to allow us some time for this.


Hey @onsomani! We appreciate your patience! On your behalf, we’ve got this checked with the bank. Please find the explanation here shared by the bank.

“The customer did a POS transaction on 27th Apr 2022 for Rs 57575.94 ($750.56) with the merchant VARU BY ATMOSPHERE MALE MV. We have received a settlement for Rs 61750.2. Hence, we debited the difference amount of Rs 4174.26 customer account on 30th Apr 2022.”


So boss i was told to swipe on the dollar amount using Niyo Card. How come all these costs are getting added

I am not concerned about what the bank has received because I was shown the USD amount while swiping the NIYO card. What happens beyond that is between you guys and the bank. I shouldn’t be charged extra except for the real time rate for USDINR

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I agree with this point of Anirudh. We should be charged based on the real time rate. Irrespective of the settlement time the banks have. Also I don’t see any credit amounts when the exchange rates change in our favour.

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I see other folks on the community facing similar issue. If we will be levied surcharge to the tune of 10% then what’s the use of Niyo Global

I’d rather go to a currency changer and pay a premium of 2-4%

@Pranav_Rai you too are facing the same issue it’s seems

@onsomani Niyo Global by SBM does not have any mark-up fee for international transactions. Upon further investigation, the bank has clarified that the extra debit occurred only after the settlement from the merchant side. You can check the same with the SBM bank at 1800 103 3817 and contact the merchant to understand the reason for the extra settlement.


Boss we are not aware about the charges and the value proposition is that of zero markup fees. If we are being levied extra charges by the merchant then what’s the use of this Niyo Global Card is what we are asking

You are losing face here in front of your customers as not being able to justify the charges. Obviously now this incident will act as a deterrent for us to use Niyo Global card as we won’t ever come to know when and who will debit our bank account with extra charges

The number that you shared with me @Deepak they gave me another number of Niyo

Kindly give us a proper explanation for the charges debited on our account. And I am unable to reach anyone at the call centre

They gave me this number to connect to 18602586496

@Deepak plese read the banks explantation and see if it makes sense. If the bank has registered a swipe of 57K, how can a merchant submit a settlement for 61k and how can the bank even honour it without questioning the mismatch?

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