Please brief me about international charges.
Hey @Sai7! Welcome to Niyo Community!
All the international transactions will be based on a live Visa exchange rate. You should be able to view the exchange rate in your Niyo SBM app under the Currency Converter option.
For international PoS transactions, there’ll be Fx adjustments. Let me try to help you in detail.
When you do an international PoS transaction, the merchant settles the transaction within 2-5 days. Meanwhile, if there is a difference in foreign currency exchange (transaction date and transaction settlement date), the difference amount will be debited/credited to the customer account.
Here is an example of it.
a. T0 - The day at which you make a transaction, we debit your account by prevalent Fx rate for the day (T0 day)
b. T2 - Typically, the merchant sends settlement after 2 days at the prevalent Fx rate for that day (T2 day)
c. If there is any difference between T0 and T2 Fx rates the same is debited (if T2 rates are more) or credited (if T2 rates are less) to you.
For International ATM withdrawal and balance enquiry, you’d be charged ₹200 + GST. This is in addition to the ATM charges that any bank can charge you while using their ATM.
Hope this helps you to understand better. For any further help, reach out to us and we are happy to help you.
Thank you for your response Deepak.
Can we receive money from foreign bank like in Norway? If yes, what are the charges?
Hey @Jasashwi_Mandal! Welcome to Niyo Community!
To know more about international inward remittance, we’d request you to read our previous Community post here: Receiving International funds to Niyo SBM accoun - #2 by Deepak
Hi… Can you tell me how much is the processing fee from the bank?
There is no processing fee from the receiver bank end. You have to check that with the sender bank.