Bookmyforex vs niyo

[adhav077]

which forex card is better?in terms of rate and acceptance in UAE

Bookmyforex or Niyo ?
And Niyo I see so many variants, which one is better?

 

[saurabhpancholi]

I would suggest the Niyo card over BookMyForex for the following reasons:

1. There's no hassle of reselling the remaining currency. You can always transfer money to your primary bank account.
2. If you choose the debit variant, you can transfer extra money, if required during your trip, via UPI to your account.
3. There's no markup, whereas BookMyForex still charges some basic markup on buying as well as selling.

Never faced any issue with niyo in UAE

 

[Sneha13]

I prefer using a BookMyForex forex card as the card is based on interbank rates with zero forex markup. I have used a Niyo card as well and even though they also claim to offer zero makeup fee, I feel they are misleading as their rates were still at least 1% higher than the BookMyForex card.

Also, when I reload my BookMyForex card before traveling, the rate gets locked in immediately.

But when I was using Niyo SBM cards earlier, before they were banned, the currency rates were unclear to me. Sometimes my account was debited many hours after the transaction had been completed. Even though my card would be charged with the exchange rate on the day, I think real settlement used to occur two to three days later, and most of the time, this new exchange rate was much higher. Personally, I did not enjoy using the Niyo card.

 

[Avatar Aang]

I prefer using a BookMyForex forex card as the card is based on interbank rates with zero forex markup. I have used a Niyo card as well and even though they also claim to offer zero makeup fee, I feel they are misleading as their rates were still at least 1% higher than the BookMyForex card.

Also, when I reload my BookMyForex card before traveling, the rate gets locked in immediately.

But when I was using Niyo SBM cards earlier, before they were banned, the currency rates were unclear to me. Sometimes my account was debited many hours after the transaction had been completed. Even though my card would be charged with the exchange rate on the day, I think real settlement used to occur two to three days later, and most of the time, this new exchange rate was much higher. Personally, I did not enjoy using the Niyo card.

Can we use credit card or Amazon pay balance to load Bookmyforex card?