Niyo Global vs Tripmoney

Deal Newbie
I have received Tripmoney card from Makemytrip. It is lifetime free, zero mrk up visa card. I got this for booking an international flight tickets with makemytrip.

More details here:

I have heard about Niyo a lot. Should I go for Niyo, is there any significant advantage of Niyo that I am missing?
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I think Niyo Global is like an SBM bank account paired with international debit forex card. Whereas TripMoney is more like a prepaid/credit line card where you load money (but they say it doesn't affect CIBIL score even though it shows up in the report). There are no "bank account" services with TripMoney. But people have reported terrible issues with it: the biggest two issues being 1. You can't transfer funds easily back to your bank account like you can with Niyo 2. They don't use the lowest Visa rate but 1% above it. Stay away from it, I think.

Deal Cadet Deal Cadet
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See this thread for my positive experience so far of Niyo Global:

Also check this review:

Niyo Global is not perfect.

For the SBM Bank Niyo at least, a flat 5% TCS (Tax collected at Source) charge is levied for foreign transactions > 7 lakh, as per Indian Government rules starting Oct 2020.

For DCB Bank Niyo, for every international transaction, flat 5% TCS (Tax collected at Source) was charged but if the total foreign exchange transactions in a financial year was < 7 lakh, it was refunded after 12 days. Otherwise, a refund could be claimed on the TCS charged at the time of filing tax returns.

So SBM Niyo Global is better.

Cool Cool
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Did you use the card? What's your review? I keep getting notifications to get this card at no charge. And, it says at the bottom that this card is issued by SBM Bank.
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