RBI Banned Niyo Global Card
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- Опубліковано 26 сер 2024
- Why has the RBI banned Niyo global SBM card ?
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Some update on Forex;
TCS on overseas tour package:
1. From July 1, 2023, a 20% TCS will be required on an international tour package from a travel agent.
2. In order to increase TCS on certain foreign remittances and on sale of overseas tour packages, amendment has been made in sub-section (1G) of section 206C of the Income Tax Act.
3. TCS of 20% has to be paid even if you buy foreign currency for international travel individually from an authorised dealer.
4. FCY Cash or Forex Cards availed towards Overseas or Foreign tour programme, will also attract TCS @ 20.
5. TCS is not an additional charge and can be adjusted against your total income tax liability & claimed while filing tax returns. One can also claim a refund if the remittance is from an income that is already tax-deducted at source (TDS).
Will they charge 20% TCS,if my spend is below 7lac in a financial year.
@@_shadow_____
There is still lot of confusion regarding this and I'm waiting forced more updates from government.
As per the information available a thistle moment from 1st July this tcs is applicable if spending exceeds 7L.
But hoping to get more clarification only this soon.
@@_shadow_____ no
Misleading title . 2020 mein yes Bank bhi block hua tha. But most cheap travel cards are on yes Bank
Now niyo global card is coming with equitas small finance Bank , i think sbm banks cards are banned so can I now take niyo global card?
Their credit card are only operational internationally as of now.
Wait for other bank confirmation
Need a card for next month for a trip to Europe, which one do you suggest? Need a physical card to swipe/ or withdraw from ATM on emergency or local purchases
Every bank has a forex card. Choose the one in which you have a saving account with.
I have Icici forex card as I've a account without them. They charge little matk up but it's easy to load unload balance.
Otherwise you can also go with axis multi currency card
@@AmitChaudharyvideoscan i go with sbi ?
@@gayatrihaldar5570 yes. SBI also has forex card. Check about Mark up rate if any.
@@AmitChaudharyvideos what is mark up rate? How do I choose the best card for my abroad studies?
It is now open!
SBM card wapis start ho gya h kya out of india ke liye???
I’m traveling to Canada as a student in this Jan, which card do you think is best for me to carry please? Thanks a ton in advance.
You can try Niyo credit card. Recently i got this and planning to use it abroad next week
Can we use this card in dubai now or not
Plz reply i am going dubai
No. Niyo global debit card cannot be used internationally
Any update, can we use it in Bali or Thailand?
No. All niyo global debit cards have stopped international transactions.
You can get their credit card or other bank forex card
Which card u will use ?
I am planning for bali trip?
Can u guide if u experience?
I have some funds in the Niyo Global card and I want to close this account. Ik unable to transfer my funds. How do I do it?
You can transfer it. Talk to their customer care.
Or you can use it for Transaction in India
How about "Fi" ? Is it good for international students going to Canada?
Yes
I personally haven’t used it but know many people who does.
Do you have any idea if there’s forex mark up on that ?
How to close the saving account ?
Is it now working or not?
Debits card not working in international transactions
Please suggest me one card, I watched many videos but still no clarity ,I have one month Europe trip please tell me one forex debit card 😢
Niyo credit card or Bookmyforex debit card. Both are good
Hi I am going to Germany this week as a student and I ordered niyo credit card and niyo Debit card by DSB. In which card should I deposit the money?
@@AmitChaudharyvideos Hi I am going to Germany this week as a student and I ordered niyo credit card and niyo Debit card by DSB. In which card should I deposit the money?
@@Akshay-nu7leNiyo credit card works well. Not sure about their debit card.
Fi debit card ke bare me btaye kya vo ek badiya option ho sakta h ?
Kafi Travellers use kar rahe hai Fi. I haven't tried it myself yet
Question: Will TCS be charged only if total foreign expense is > 7L or it'll be charged even when total expense is
Everyone is still waiting for complete guidelines from RBI on this.
But yes it seems tcs will be charged on foreign spending above 7L as per last press conference of FM.
It will be from above 7 lac. If you pay TCS, and are still are not liable to pay any taxes, you'll get your tax refunded. Note: I'm not a commerce student, but recently got my TCS refunded. So I have experienced the process.
@@jaypanchal4854how did u get it refunded and which card should i take credit aur equitas
@@Zainulsandhi Refunded into the bank account directly, Not sure about the card
I need to traveo to Europe and UK in 7 days. Should I rely on niyo credit card? Zero mark up fees is lucrative but risky hai.
Yes apply. What’s the risk ?
With zero mark up fees you will have big savings
@@AmitChaudharyvideos Risk is about downtime of Niyo and some local merchant not accepting this card. Savings kitni he honi hai. Even if convert 1.5 lakhs INR and give 2% mark up to forex card toh 3K he save hone hai. Right?
@@hawtpunk2612 yes maximum saving is this.
You can use your normal credit card and keep this as back up
So mai abhi International withdrawal karsaktha hukya..?
Niyo debit cardiovascular not working for international transactions.
@@AmitChaudharyvideosCardio wtf💀
Sir niyo debit card pe hume 7 lakh k bd TCS dena pdega and in credit card how many TCS we have to pay after spending 7 lakhs in abroad??
Yes
And no tcs is deducted on credit card even beyond 7 lacs
So according to you which forex card is better to take with you abroad??
I'm yet to decide. Also with 20% tcs been applicable from July, card transactions will be expensive.
@@AmitChaudharyvideos Please clarify, it is stated that TCS is only applicable on transactions after the 7 lakhs annual threshold, so for small trips cards can still be used?
@@tejaskaushal2436
Yes. From 1st July, tcs is applicable @20% if the forex transactions goes beyond 7 lacs
@@AmitChaudharyvideos what if we purchase in cash? Will they track?
Even I was in Qatar for fifa
👍🏻
I want to know dat still niyo card working or not?? Can I apply for this in my next month travel to Dubai??
Apply for Niyo credit card. Debit card not reliable
Bro, ipo oru niyo card edukunath nalla idea aano.risk alle.
Iam going to Germany next month for my masters. Vere ethaan better option. Hdfc aano.. suggest cheyaamo
Hdfc is also good. Go for it
Go for HDFC this Niyo is such a stupid organization they don't give prior notice and they got banned again by RBI. This Niyo is uncertain as always attractive things are less efficient.I am studying in UK and I am still struggling with this card.I have contacted customer support how will the new credit card(new card from Niyo) will be delivered to the foreign location.They said My family members have to ship it for me.,...They dont mind anything!
have you finalized your card?
@@isaimedia7877 hdfc student forex card
@@Raptors007 did u tried Fi?
Good afternoon sir. I need to know that which card is best for international tour? I'll wait for your fruitful reply. Thanks.
Niyo credit card is good. I have applied for it
@@AmitChaudharyvideos Can a student with no income apply for a Nyio global credit card ?
we should use niyo d equitas bank card that has same features
Only their credit card works abroad right ?
@@AmitChaudharyvideosno bro niyox is same niyo global that is sbm bank this is equitas bank.
Mmm I am traveling next month did anyone used equitas?
am planning to move to taiwan as international students, is neyo global card is suitable for international students in taiwan, this is my first time going to use credit card, is this user friendly and supportive. does it have good perks for students and for international transaction? thanks a lot.
Yes. It should be good
For niyo credit card do we need to pay 20% tcs after 7 lakhs limit
Not on credit card transactions
Sir I'm going to dubai...
Can i use the niyo debit card physically there?
No. I received a mail from Niyo that there sbm niyo card is not functional.
You can try there credit card or other bank forex card.
@@AmitChaudharyvideos Can I use the Niyo global debit card for International Payments.
It's not working abroad
@@AmitChaudharyvideos Ok
Sir iam going to travel international can I go for this card are all the services are started or not
Plzzz reply
Niyo forex card is not operational now.
You contact the bank you have account in, and ask for their forex card.
It’s not blocked now lmao
Which card should i take credit or equitas?
Credit
Need debit card for international transactions should i go for niyo ICICI or hdfc?
Niyo credit card.
I'm uploading a video specifically on this topic today.
Where's the video
Does lounge access will be open again or not
I think lounge access is open for the card holder.
There are some updates
Can u please inform us on latest updates
Ha hmko bhi yahi janana h
Tcs will be applicable on all forex transactions from July 1 2023
@@AmitChaudharyvideos what about niyo
Sir can I load aed in this card or only I have to pay in INR will I get charged on paying in INR
You can only load in INR.
And when you pay in forex, inr are converted at that time and paid in foreign currency.
Equitas working in Dubai or not
Sir niyo global card kabh se start hoga because m foreign m study karta hu present m India hu kya m niyo global card start kar lu
Their credit card is working fine.
Also their debit card from dcm and equinox bank is working
Are Niyo cards working now as i have to go abroad next month and need a physical card for Cash withdrawals and POS payments. Should I apply for this?
Dont take unnecessary risk please. Niyo card and SBM Bank are on RBI radar and could be banned anytime
@@samosemeinaloo I have heard that niyo debit cards doesn't work in international and only niyo credit card works? Is it true? Do u use niyo card?
@@anmolmittal74 That's not true. All cards in VISA and MasterCard network will work. Using Debit card is costly since you will paying forex charges on currency conversion on every transaction. Buying a forex card is cost effective. Please opt for recognised bank forex cards such as HDFC or ICICI. Thomas Cook is also a safe option. Niyo was banned a while back by RBI and it will get banned again. I have bought HDFC card since my brother uses it as well
Yes niyo debits don't work now and credits are in place.
@@NilayBhoraskar so what's the good alternative for that like niyo debit cards?
Bro , can I know which bank is working internationally for Niyo global cards ,like sbm or eqittus or dcb , on which card I can do transactions internationally
So sbm isn’t working for sure.
Other two also Niyo not promoting much.
So Go with their credit card
So that's SBM credit card right?
@@ritwicksen I’m not sure which bank credit card they issue.
But there is only one credit card they offer
@@ritwicksen hello , it provides total three cards ; I've talked with the customer service
1) Niyo global credit card from SBM bank
2) Equitas Debit card
3) DCB Debit card
Credit card has no charges on ATM withdrawals and Equitas has less charges than DCB card.
@@gayatrihaldar Thanks for the info. Can you please suggest which one among these three niyo forex cards would be best for me as a student in UK?
Neiyo card ka koi update he
Can I withdraw money in foreign country using this card now in April 2023
yes you can but u have to pay extra amount deducted from your account like if you use neo global for cash withdrawals you have to pay 100Rs on your every atm cash transactions
Yes
But I guess there isn't any charge for swiping the card.
Credit card toh chl rha ho ga bro niyo?
Loya hai abhi credit card niyo ka. Next week Europe mai use karke bataunga
@@AmitChaudharyvideos mah use krta rhta hu kafi tym use kiya ha credit card but fi is better ha
How much charges That we need to pay if we took Niyo global Equitas Debit card
Kindly Pls tell about total charges!.
Kindly Reply This
This question
No charges. On the transaction date whatever the forex rate is, they will convert your inr in that during transaction
Can i still use niyo global credit card?
Yes
It’s working abroad
@@AmitChaudharyvideoshi sir , I'm going go Poland, can i use niyo global debit card? Is it working?
@@gayatrihaldar5570
No. Their debit card isn’t working in international transactions.
You can use their credit card or other forex card
@@AmitChaudharyvideos okay sir , I'm going with the credit card. Keeping it as a backup. But they also have Equitas and DCB Debit cards. Is it not working?
@@gayatrihaldar
I also tried to contact to Niyo regarding this but no proper reply I got.
Niyo is not RBI compliant. Please do research before buying
But they still giving away credit cards
@@AmitChaudharyvideos Their credit card is not a problem. The forex card is not RBI compliant. They have a partial relaxation at the moment which can be revoked anytime. Niyo has a tie up with SBM which is a subsidiary of State Bank of Mauritius. We all know how clean the financial institutions of Mauritius are
@@samosemeinaloo
Yes they are facing issue with debit cards. But even the newly introduced credit card works for forex transactions
Using credit card for forex transaction is a financial suicide since you will be spending in stronger currency and repaying in weaker currency. If both spending and repaying is in the same currency for Niyo cards, then they are flouting RBI norms again
Fake hai don't take the card niyo global card
ICICI or HDFC which forex card it better?
Both have mark uo and haven't used much of them due to that
Who is the first girl?
What's the concern
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How ?
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Hi bro, any new update from Niyo Global card? I am going to Germany for my master's and thinking to opt for this card, should I do it or not? I don't want credit card, I just want that debit card.
Hey
Go for it. It will work as of now. Ask them whether they are issuing sbm bank card or others.
Bro even I am going to Germany and taught of taking niyo card .
Have you found any alternative?
@@AmitChaudharyvideos bro i am travelling to germnay for 1 month in july I already have this card it will work na . Bcux i hv money into it
It's not the forex cards you need to worry about it's the 20% tds that's going to come into effect in a few months,all card transactions will become more expensive after that
it's working as of now. Every other bank also issues forex card now. I've ICICI forex card but they have high markup
What about equitas bank?
Not reliable
Crap card!! Don’t go for it
Ya. Did you use their credit card yet ?
I’m thinking about it
Bro Really kindly Plz May I know Why are you saying It a crap Card Coz I really Want to know about it BrooI am a student Studying In Georgia for mbbs I thought Buying these for foreign Currencyso plz tell Should I go for this Or Any better Cards
kindly please Reply!. It's My Life Support Me Brother Plz!. UR REPLY IS IMPORTANT!.:)
Broo Please Reply 😊
Please
@@themarvellous7616
Hello
You can go with Niyo credit card. It's working fine.
Niyo sbm debit card has stopped working international