Niyo review

The debit card carries a monthly fee of INR 0, the only recurring charge listed for the account. Loading the card is free, so topping up adds nothing on top. For a traveller spending across several currencies, the holding cost stays minimal.

Conversion fees are 0%, which puts the card at 1 of 237 on this measure. The median conversion fee across the cards here is 1%, so the gap to a typical rival is wide. Spending from a balance in the local currency avoids the question.

The card covers 130 currencies, with features listed as multi currency and travel. That is enough for most trips to spend from a local balance rather than converting each time. The card runs on the visa network, so it is accepted wherever those cards are used.

The free ATM withdrawal allowance is INR 0, so cash is not covered by the card. On this site's ranking it sits at 38 of 104 for free withdrawals, behind cards that bundle an allowance. Card and online spending are where it is strongest.

It is a debit card, so spending comes out of the balance you hold rather than a credit line. Money is loaded onto the card and loading itself is free. The account is built around travel and multi-currency use, with the visa network covering acceptance.

The legal entity behind the brand is Niyo Solutions Inc., headquartered in India and founded in 2015. Support runs on email and help centre, so card questions are answered in writing rather than by phone. That suits readers who are comfortable handling the account through the app and the help centre.

All of them sit at no monthly charge: Niyo charges INR 0, Monzo Flex £0, Wise £0 and Bitpanda €0. The currencies are not the same, so the monthly fee alone does not decide it. Niyo's 0% conversion fee is the figure that separates it.