ICICI Bank announced the launch of its premium ‘Student Sapphiro Forex Card’ on Tuesday, a forex prepaid card designed specifically for students pursuing higher education abroad. Powered by Visa, this card offers a range of exclusive benefits, catering to the unique needs of students and their parents in managing education-related expenses such as tuition fees, travel, dining, and daily necessities.
Key Features and Benefits
The Student Sapphiro Forex Card allows transactions in 15 currencies without incurring any cross-currency mark-up charges. This feature ensures students can travel globally with ease, even if they load just one currency on the card. The card also comes with substantial joining benefits valued up to INR 15,000, including:
- Free International Lounge Access: Two complimentary international lounge accesses worth $99.
- Free International SIM Card: Enhancing connectivity for students abroad.
- Uber Vouchers: Complimentary vouchers worth INR 1,000 for international travel.
- International Student Identity Card (ISIC): Membership worth Rs 999, recognised across 130 countries.
- Card Protection Plan: Inclusive of lost card and counter card insurance up to Rs 5 lakh.
Additionally, the card includes a welcome kit featuring a passport holder, booklet, and travel checklist, alongside two cards—a primary and a replacement card—that can be activated digitally through iMobile Pay, internet banking, or by contacting the Bank’s Customer Care in case of loss or damage.
Exclusive Privileges
ATM Fee Waivers: Three monthly ATM fee waivers on cash withdrawals for five years.
No Mark-up Charges: Eliminates cross-currency transaction fees.
Cashback Offers: 5% cashback on online grocery shopping and transit bookings made through online channels.
Seamless Digital Management
The card can be reloaded digitally using iMobile Pay and internet banking, allowing students and their parents to manage funds instantly from anywhere. This convenience is designed to ensure hassle-free financial transactions for students abroad.
Niraj Tralshawala, head of payment solutions at ICICI Bank, expressed enthusiasm about the new offering, stating, “We are delighted to offer a new premium forex card with attractive benefits for students travelling abroad for education. It offers students the triple advantage of payment of tuition and daily expenses, digital re-loading of the card by parents from anywhere, and additional curated benefits.”
Sujai Raina, country manager of Visa India, highlighted the card’s tailored features for overseas students. He said, “Visa is delighted to partner with ICICI Bank to launch the Student Sapphiro Forex Card, created for the growing student segment opting for overseas education. By tailoring card features to the needs of life abroad, Visa ensures seamless, safe transactions, complete ease of use, and global acceptance.”
Application Process
ICICI Bank customers can apply for the Student Sapphiro Forex Card by visiting the ICICI Bank website or through the iMobile Pay app by navigating to: Cards & Forex > Forex Prepaid Cards > Apply Now.
Additional Offerings
ICICI Bank also provides the ICICI Bank Student Forex Card and Multicurrency Forex Card for students travelling abroad for education.
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