Niyo Global vs Forex Cards: Which is Best for International Travel?
For Indian travellers heading abroad, the choice is often between (a) using a regular credit card with 3.5% forex markup, (b) loading a prepaid forex card before travel, or (c) using Niyo Global with 0% forex markup. Here’s the honest comparison.
The three options
| Option | Forex markup | Cash withdrawal abroad | Reload friction |
|---|---|---|---|
| Regular credit card | 2–3.5% + GST | 2.5% + GST per withdrawal | None (use as needed) |
| Prepaid forex card (HDFC, Axis, Thomas Cook) | 0% on loaded amount, but 2–4% loading fee + spread | ~$2 flat per withdrawal | Must reload before travel; reverses leftover at unfavorable rate |
| Niyo Global (debit + credit variants) | 0% on 100+ currencies | $0 from select ATMs | Reload via UPI any time |
Math: ₹3 lakh international spend
| Cost line | Regular credit card | Prepaid forex card | Niyo Global |
|---|---|---|---|
| Forex markup | ₹10,500 | ₹6,000–9,000 (loading + spread) | ₹0 |
| GST on markup | ₹1,890 | ₹1,080–1,620 | ₹0 |
| Cash withdrawal fees (4 × ₹300/₹170/₹0) | ₹1,200 | ₹680 | ₹0 |
| TOTAL extra cost | ₹13,590 | ₹7,760–11,300 | ₹0 |
Niyo saves ₹13,590/year on ₹3L of international spend versus a typical credit card. Even on ₹1L spend, you save ₹4,500.
The hidden cost of forex cards: leftover balance
Prepaid forex cards have a hidden trap — unused USD/EUR sitting on the card after your trip is converted back to INR at the bank’s buying rate (typically 2–3% lower than mid-market). On $200 leftover, that’s ₹400–₹600 lost just on conversion.
Where each option still wins
Regular credit card: reward points on your card still apply. If your card returns 2% rewards on foreign spend (rare, most exclude foreign), the math gets closer.
Forex prepaid card: if you want to lock in an exchange rate before travel (hedging against rupee weakening), prepaid cards do this.
Niyo Global: wins for everything else — most travellers, most use cases.
The optimal setup
- Niyo Global as primary international spend card
- One backup credit card (Axis Atlas or HDFC Diners Black) for emergencies / merchants that don’t accept Visa Debit
- Some local-currency cash withdrawn day 1 for tips and small vendors
This is independent commentary, not financial advice.