Niyo Global vs Tripmoney

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: https://www.tripadvisor.in/ShowTopic-g293860-i5... 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.

See this thread for my positive experience so far of Niyo Global: https://www.desidime.com/discussions/niyo-global-card-review

Also check this review: https://www.extravelmoney.com/blog/which-is-bet...

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.

Looks like it's better to avoid it after reading these reviews. https://www.tripadvisor.in/ShowTopic-g293860-i5...