Users will need to activate their secured credit card within 37 days after the card has been issued. If they do not activate their card within this period, the card will be blocked. This update is as per RBI guidelines of activating the card within 30 days of issuance, or else it gets blocked.
This has been communication with the users and they will be able to see this message on the app as well (see screenshots attached) Note: Users will have 30 days + a 7 day grace period for card activation. In total users will have 37 days to activate their card, from the date of issuance as per RBI
RESPONSE:
You can set up the PIN in order to activate your card through the Niyo App (due to security reasons, we don’t share the PIN physically).
- Click on the “Credit Card” button at the bottom of the screen.
- Click on the Niyo SBM credit card icon (below the balance card).
- Click on “Set PIN”.
As per RBI Guideline., you will need to activate your secured credit card within 30 days of it being issued. If your card is not activated (and the pin is not set) within 30 days, the card will be blocked and you will have to re-order the card by paying Rs. 249+GST.
