Niyo DCB Global Forex Card: All you need to know

The Niyo DCB Global Card is an innovative answer for global Indian travelers who don’t like to hassle with changing currencies. It comes with a linked domestic Indian DCB bank account that you can add money to, and a Visa card that can be swiped wherever Visa is accepted around the world. It is a primarily online account focused on spending globally that works directly with the Niyo app. We'll also introduce you to the Wise Travel card, which allows you to hold 40+ currencies in on card and spend without any forex markups or hidden fees.

What is the Niyo DCB Global card?

The Niyo DCB Global card is a digital account from the fin-tech company Niyo and DCB bank. You are provided a digital current account with DCB and a linked Visa card that you can load with Indian Rupees and then spend across the global Visa network.

The account works with the Niyo app, where you can load money, convert to the different currencies available, keep track of your balance, and monitor recent transactions. You can also keep an eye on the real-time exchange rates and convert when it is favorable through the app as well, wherever you are in the world.

To get started, the Niyo DCB Global card is only available to Indian citizens that have a valid PAN and Aadhaar card. To get started you can fill out the form on the Niyo website or send an email to globalsales@goniyo.com.

A Niyo sales representative will then reach out to you to set up a time to meet and do the KYC which will require seeing your PAN, Aadhaar, and a Passport. If all checks out, you will get your card to get started. This onboarding process however seems to only be available to Tier 1 & Tier 2 cities at the moment.

Once you are verified, you can download the Niyo app and log in with your registered mobile number to get started. As an account owner, you don’t need to maintain a minimum balance and the card is valid for 5 years.¹

What can I use the Niyo DCB Global card for?

The Niyo DCB Global card can be used to spend around the world wherever Visa is accepted. So whether you are at a shop, restaurant, hotel or cafe, you can just swipe the card like any other Visa card. You can also use this card for online spending too.

But before you get to swiping, let’s first look at how to go about filling your account. Your account with Niyo will have its own account number and IFSC code, and you can load it up with INR by NEFT, IMPS, or UPI. There are limits to how much you can load into your account but that will be outlined to you in your Welcome Kit.

Once you have loaded your account, you can convert your INR to other currencies. You can also send money from your Niyo account to any other bank accounts in India. But you can only send money to domestic Indian accounts, and not internationally.²

Charges and fees for the Niyo DCB Global card

The Niyo DCB Global card gives you access to spending around the world, but there are a few fees attached to it. Primarily there is the joining fee of ₹200. There is also the same fee of ₹200 if you lose your card or it gets stolen. Plus there are some ATM withdrawal fees, which you can see in a later section.³

But one of the fees that you may not be able to see is in the exchange rate. The Niyo DCB Global card uses the Visa network’s exchange rates. So whenever you are converting or loading up on other currencies, you are getting the exchange rates set by Visa. This is a different exchange rate than the mid-market exchange rate. The mid-market exchange rate is the rate you see on Google, and the same one the banks use themselves. By setting their exchange rates slightly lower than the mid-market exchange rate, Visa and Niyo are able to sneak in a hidden fee in the difference. So you may be losing extra rupees to this hidden fee every time you convert money.

On top of this, you may be charged an FX Adjustment fee. Any international transactions are debited in real-time, but it can take 2 days to settle the transaction. Because there may be a change in the exchange rate within those 48 hours, you may be charged a fee for the difference.⁴

Overseas ATM withdrawals with Niyo forex card

The Niyo DCB Global Card lets you take cash out from your account at ATMs that accept Visa/Plus Network. To find the nearest ATM to you, you can jump on the Niyo App and tap the ATM locator. The card, of course, works at any DCB bank ATMs in India.

But there are fees associated with using your Niyo DCB Global card at an ATM overseas. The first transaction every month you do abroad, whether for a cash withdrawal from an ATM Or a non-cash transaction, is free. But any cash withdrawals after that will be charged a fee of Rs. 100 + GST. There may even be additional charges by the acquiring bank.

In India, there are no fees at a DCB ATM, but any cash withdrawals from a non-DCB Bank ATM will be charged ₹20 per transaction.⁵

What are the currencies in the Niyo forex card?

The Niyo DCB Global Card offers you access to the whole Visa network, which means you can load and spend in over 90 currencies. That equates to around 150 countries around the world, and it includes being able to use the card in INR in India. ⁶

Keep in mind that with all the currency options you get with this card, you will be getting the exchange rates set by Visa. This is not the same as the mid-market exchange rate, which the banks use themselves.

Meet the Wise Travel card: 40+ currencies in one card, with no forex markups or hidden fees

With no hidden markups, the Wise Travel card is a smart way to spend abroad. You'll always get the real interbank exchange rate for conversions across 40+ currencies. Wise's transparent, low pricing, plus no foreign transaction fees or forex markups, usually means you are getting the best value for your money.

The fully digital account opening and vKYC process allows you to sign up from the comfort of your home, and there are no annual or monthly fees either. Simply order your card, show proof of your travels, load your funds, and you're all set. Plus - card orders are currently free to Indian addresses (only until February 10, 2026)! A physical Wise card enables you to make secure chip and PIN payments and get some free ATM withdrawals while you're overseas. You can also instantly freeze or unfreeze your card in the app anytime for peace of mind.

Wherever your travels take you, the Wise Travel card is the only forex card you'll need to make spending internationally simpler and cheaper.

🚀 Get a Wise Travel card

All sources checked as of 9 July, 2020