Niyo

Pick Niyo for the trip. Pick a scheduled bank for the salary. Do not confuse the two in an alternatives table.

Niyo grew up as a prepaid forex card for Indians travelling abroad and later added salary and NRI-shaped products. The job is cheaper FX than a high-street bank, under RBI forex rules.

Niyo lists Forex / partner-bank under RBI (partner banks / AD-II) in India. On safeguarding we currently write: Partner-bank DICGC where a bank balance exists; forex wallets differ. Holder / issuer line: Partner banks (varies by Niyo product). An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 2 live markets on the product. As we score the sticker: monthly Product-dependent; forex cards often zero annual; FX Core pitch — live rates vs banks, still a spread; ATM Overseas ATM fees on the card schedule. This desk would open it for: Indian travellers and NRI-adjacent users who want a forex card, not a full bank.

What it does well: FX-first in a UPI market; Travel fit; UAE overlap. What to watch: Not a universal salary bank; Partner soup; Support on blocked cards. Desk score 7.1 / 10 (safety 6.6, fees 8.2, features 7.4, app 7.4). Last verified 2026-08-01. Headquartered in Bengaluru, India; founded 2015. None of this is advice — it is a file so you can read the entity before the card colour.