Buying iPhone in other country using Niyo Global

[RM95]

I'm planning to buy an iPhone 14 Pro when I will be visiting Vietnam next year.
I will be carrying a Niyo Global SBM credit card and a Niyo Equitas Bank debit card.
Which one should I use for the purchase so that I get charged lesser fees? I was thinking about Equitas since for SBM cc, I need to pay back the amount again before closing the cc.

Any other factors that I should consider?

 

[diablorojo8]

Imo it's best to use the card to do a atm withdrawal at airports.
And then go and buy it in cash.
But do your research and check if they let you buy in cash.

 

[RM95]

Imo it's best to use the card to do a atm withdrawal at airports.
And then go and buy it in cash.
But do your research and check if they let you buy in cash.

Yes, that's one option, but a bit apprehensive about withdrawing that much cash. Best case would be to swipe niyo Equitas db at the store. Are there any charges associated with this?

 

[gamersgzb]

There was one post where all three cards of niyo were compared.. but usually there are no extra charges on swipe.. but charges for each ATM withdrawal..

 

[RM95]

There was one post where all three cards of niyo were compared.. but usually there are no extra charges on swipe.. but charges for each ATM withdrawal..

Yes. Wanted to check if anyone has swiped their Niyo card for such a large amount abroad (esp Vietnam or Dubai).

 

[gamersgzb]

Yes. Wanted to check if anyone has swiped their Niyo card for such a large amount abroad (esp Vietnam or Dubai).

I have swiped for 10-20k but not more than that.. it will not be an issue just keep 20% extra in your account for TCS deduction.. which you will get back in some days..

 

[gamersgzb]

Yes. Wanted to check if anyone has swiped their Niyo card for such a large amount abroad (esp Vietnam or Dubai).

I have done withdrawal of 50+k 4-5 years back..

 

[RM95]

I have swiped for 10-20k but not more than that.. it will not be an issue just keep 20% extra in your account for TCS deduction.. which you will get back in some days..

Oh, didn't know about this. Thanks, this was helpful! Any other tips?

 

[gamersgzb]

Oh, didn't know about this. Thanks, this was helpful! Any other tips?

Keep your card account added to your bank accounts from where you will do the transfer.. as you may face issues in adding beneficiary while you are abroad..

Below you will find comparison..

Niyo: SBM vs Equitas vs DCB

Niyo Global is providing 3 bank options - debit cards with DCB and Equitas bank, and FD backed credit card with SBM. Can the SBM cc be used to withdraw money from ATMs in foreign countries (as it is a credit card)? Are there similar ATM withdrawal charges for DCB and Equitas as well (as they...

www.technofino.in

 

[RajeshV]

I read that Niyo (paticular variant maybe?) cards couldn't be used for forex transactions and somebody on this forum was left holding the bag while abroad.

 

[RM95]

I read that Niyo (paticular variant maybe?) cards couldn't be used for forex transactions and somebody on this forum was left holding the bag while abroad.

Oh shit, do you recall which variant?

 

[CMG]

Oh shit, do you recall which variant?

SBM variant can't be used

 

[arjun697]

Start buying $200 every month. You will account for rupee depreciation and won't have to bother too much about forex cards while converting the dollars into VND next year. The only negative I see would be if INR/VND depreciates against USD. I still carry 1000$ which I got around 70 rubles/dollar last year. Plan to sell this off next Feb in Bangkok for purchasing an iphone 15 probably.

 

[sanjaynandi]

Yes. Wanted to check if anyone has swiped their Niyo card for such a large amount abroad (esp Vietnam or Dubai).

in vietnam u cant swipe card n get that much cash. the limit is usually 3 million in any atm in city. iphone costs 22-25 million. so how many times u will swipe?

 

[sanjaynandi]

Start buying $200 every month. You will account for rupee depreciation and won't have to bother too much about forex cards while converting the dollars into VND next year. The only negative I see would be if INR/VND depreciates against USD. I still carry 1000$ which I got around 70 rubles/dollar last year. Plan to sell this off next Feb in Bangkok for purchasing an iphone 15 probably.

cannot easily buy USD, exchanges dont issue it unless u show travel plan. otherwise it will be used as a black money

 

[arjun697]

cannot easily buy USD, exchanges dont issue it unless u show travel plan. otherwise it will be used as a black money

If it’s under a limit, it’ll be fine. If anyone questions why I have $1000, it’s over 2 years old. I won’t have any documents to prove when and why I got it.
Also recently, I had to travel to Moscow the 1st week of September. I wanted USD on the last day before my flight and I ended up buying from a local store in Connaught Place (Delhi). No documents or no itinerary. In this case I didn’t mind it being official but the shop didn’t want any. So there’s always going to be shops selling USD if you want.