There are very few charges on the Niyo SBM Account and SBM Debit card. ATM charges per withdrawal for the debit card: Domestic ATM Charges: The debit card can only be used domestically, If you use an SBM ATM, there are no charges at all, but if you use any other ATM, then you will be charged Rs. 20 + GST (after 5 free withdrawals) International ATM Charges: Rs. 423 + GST. The bank whose ATM you may use also may charge a fee (the ATM should mention the fee but we would not know about it).
Replace your debit card: If you lose your debit card and need to replace it, you will be charged Rs. 249 + GST.
We do not charge you for a lot of things:
- No charges for opening the account.
- Zero-Forex charges - No charges for the convenience of foreign currency conversion. Only the VISA exchange rate applies to all transactions.
- This is a zero-balance account with no charges for not maintaining any balance in the account.
- No charges for adding money to your account via NEFT/RTGS/IMPS/IFT.
- No annual maintenance charges.
- No charges for ordering the physical debit card. Users do not need to have a minimum balance to order the debit card.
You can click here to read about all charges.