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DCB Niyo Welcome Handbook

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529 views9 pages

DCB Niyo Welcome Handbook

Uploaded by

Rmanojkumar Oman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DCB Niyo Handbook

A Guide To
DCB Niyo Debit Card

Welcome to the world of zero forex markup and higher interest


rates with your DCB Niyo debit card!

Your Niyo account is in partnership with DCB Bank. It comes with


a VISA Platinum debit card with zero forex markup on all your
international transactions, high interest rates on your balance,
and much more.
Benefits of
DCB Niyo debit card
You’ve picked the best international card for
yourself! Here’s how it fares amongst its peers:

Other
Benefits Niyo Global Other Debit Forex
Credit
Debit Card Cards Card
Cards

Forex markup 0% Up to 5% Up to 5% Up to 5%

Airport lounge
access outside
With spending
criteria
❌ ❌ ❌
India

Interest Rate Up to 8%* Varies with


cards
❌ ❌
Load Money
24X7
✔ ✔ ✔ ❌
View
transactions ✔ ✔ ❌ ❌
real-time

We have compiled a few things that our users usually ask us


after opening a DCB Niyo account. Hope this helps!
Card Delivery
The Card delivery may take up to 3 to 5 Business days,
depending on the area Pin code. It will be delivered to your
Communication Address. You will get the tracking number via
SMS within 1-2 days after the card is dispatched.
You can track your card delivery right within your app.
Tap on Debit Card > DCB savings account > Card Settings

Adding money to your


DCB Niyo account

Add money via Niyo UPI: The fastest way to add money!

Tap on Add Money > Add Money via Niyo UPI > Select
source account for loading funds > Enter the amount >
Press Continue to proceed.

Add money via Bank Transfer: You can load your account
via NEFT/IMPS/UPI using your unique Account Number and
IFSC (DCBL0000023).
Log in to the app > Select Debit Card > DCB savings
account > Add Money

You can also link UPI ID and add money with UPI apps such as
PhonePe, Google Pay, or PayTM.

The money in your DCB Niyo savings account will earn high
interest up to 8% p.a.*

UPI is on Niyo
We’re excited to share that Niyo Pay is now active on the Niyo
app! You can create new or link your existing UPI ID for
seamless payments.

You can use this account to create a UPI ID on any UPI app
(GooglePay, PhonePe, Paytm, etc). The UPI ID can be created
24 hours after your DCB Niyo account is created.

*T&C Apply.
UPI cashback up to 7,500!
Unlock cashback rewards on domestic UPI transactions of ₹500
or more made with your linked DCB Niyo account. Cashback for
each quarter will be added to your account in the first month of
the following quarter. Here’s how it works:

Average Quarterly Minimum UPI Cashback per Maximum cashback


Balance transaction amount transaction per financial year

₹25,000 ₹500 ₹10 ₹600

₹50,000 ₹500 ₹15 ₹1,800

₹1,00,000 ₹500 ₹20 ₹3,600

₹2,00,000 ₹500 ₹25 ₹7,500

UPI Limits

First 24 hours after setting UPI PIN: up to ₹5,000 per day


(max. 20 transactions in the day)
After 24 hours after setting UPI PIN: up to ₹1 Lakh per
transaction/per day.

Using your DCB Niyo card


Activate your card by setting PIN
Step 1: Log in to the app and select “Bank”
from the bottom bar.
Step 2: Click on “Card Settings” and “Set PIN”.
Enable International Transactions
Step 1: Log in to the app and select “Bank”
from the bottom bar.
Step 2: Click on “Card Settings”.

Step 3: Click on “Card Locks” and enable


the toggle for international transactions.
Step 4: Enable the toggle for channel locks:
Online Transactions, Card Swipe, ATM
Withdrawal, and Tap & Pay as required

Change Card Limits


Step 1: Log in to the app and select “Bank”
from the bottom bar.
Step 2: Click on “Card Settings” and “Card limits”.

Important: While making any international transaction (card swipe or


ATM withdrawal), if you are asked to select between INR and the local
currency, please select the local currency to avoid additional charges.
TCS (Tax Collected at Source)
With the recent changes in tax rules, there is NO TCS on
international spends up to ₹7 lakh per financial year. For
international spends above ₹7 lakh in an FY, you can easily claim
a TCS refund while filing your Income Tax Returns (ITR).

Starting April 2024, there will be no upfront 20% TCS deduction


on international spends up to ₹6.75 lakh for FY 2024-25.

Just a heads up!


If you make international transactions from 1 am to 3 am IST*,
there'll be a 20% TCS deduction upfront. But don't worry, the
amount will be promptly refunded within 48 hours, no matter how
much you've spent throughout the financial year.

For a seamless experience with international transactions, please


ensure you have 20% more balance than the transaction amount
(e.g. for a ₹10K international spend, ensure ₹12K balance).

You can check your TCS refunds for each FY right within the app.
The remaining spending limit before you reach the ₹7 Lakh mark
can also be tracked within the app (after you’ve made at least
one international spend).
Lounge Pass
You can enjoy one complimentary Lounge Pass outside India per quarter when you
spend ₹50,000 outside India in a calendar quarter using a single Niyo card. You
can pick from any of the 1300+ international airport lounges outside India.

Heads up: Your Lounge Pass will be right there on the Niyo app as a handy QR
code. No need to show the Niyo card at the lounge desk!

How to unlock Lounge Pass


- Spend ₹50,000 outside India in a calendar quarter using a single Niyo card
- Eligible spends include card swipes and online transactions (POS & ECOM)
- After making eligible spends, it could take up to 7 days to unlock Lounge Pass
- Explore the list of supported international lounges in the app
- Generate your free Lounge Pass within the app
- Show the QR code at the front desk of any supported lounge

Few things to remember


- The Lounge Pass is valid for 30 days from the date of generation.
E.g. A Lounge Pass issued on 15th April will expire on 14th May.
- The total spend of ₹50,000 must be made using a single Niyo card.
Combined spends across multiple Niyo cards will not be considered.
- Lounge Pass is accessible only for lounges outside India.
Transaction Limits
Your card and account come with certain limits on spending
and fund transfer which can be customised as needed.
Card Limits
Card Swipe or Online transactions: Up to ₹10 Lakh/day
(or as per the card limits you have set)
Tap & Pay: Up to ₹5,000 per transaction and up to
₹5,000/day

ATM withdrawal: Up to ₹1 Lakh/day (or as per the card


limit that you have set) and a maximum of 10
transactions per day

Fund Transfer Limits

IMPS/NEFT (after adding payee): Up to ₹5 Lakh/day

UPI: Up to ₹1 Lakh/day

Charges for your account

Your DCB Niyo account is a zero-balance* account, with


zero forex-markup charges#.

Card order charge


There are no card order charges.
Annual maintenance charge
There are no annual maintenance charges in the first
year. From the second year, there will be an Annual Fee
of ₹500 + GST which can be avoided if you maintain a
quarterly average balance higher than ₹5,000.
International ATM withdrawal charge
₹425 + GST for every ATM withdrawal made with your
DCB Niyo debit card. The bank whose ATM you use may
also charge a fee.
Enjoy 3 Free international ATM withdrawals per quarter!
Get the ATM fee back in the form of Niyo Coins.#
Card replacement charge
If you lose your card, worry not! It can be replaced at
₹249 + GST.

Got questions? We’re always here to help you.


Connect with us via 24×7 in-app chat support,
anytime!

*Terms and Conditions Apply #Visa exchange rates apply Revision date: 13th June 2024

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