ICICI Bank on Tuesday launched its ‘Student Sapphiro Forex Card’, a premium forex prepaid card crafted specifically for students who are going abroad for higher education.
The card, powered by Visa, provides exclusive benefits and convenience to students as well as their parents to manage education related expenses abroad such as admission fees, course-related fees and other day-to-day expenses including travel, dining and groceries, among others, ICICI Bank said in a release.
Card has no cross-currency mark-up charge
The card offers the freedom of loading and transacting in 15 currencies, without any cross-currency mark-up charge being levied by the bank, allowing students to conveniently travel across the globe even if they load only one currency on the card. This initiative comes in the wake of continuing surge in the number of Indian students going overseas for higher education.
Student Sapphiro Forex Card joining benefits up to Rs 15,000
The ICICI Bank Student Sapphiro Forex Card comes with an array of joining benefits up to Rs 15,000, along with exclusive privileges. It comes with a welcome kit with two cards — a primary and a replacement card — that can be activated digitally through iMobile Pay, internet banking or by calling the bank’s customer care in the event of loss/damage of the primary card.
Like any other forex card offered by the bank, this card can be reloaded digitally using iMobile Pay and internet banking by the students and their parents, instantly, anytime and from anywhere. With this card, the bank has a suite of forex cards for students travelling abroad.
Speaking on the launch, Niraj Tralshawala, Head- Payment Solutions, ICICI Bank said, “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. We believe that this card empowers students and their parents with a hassle-free and seamless experience for payments abroad.”
Sujai Raina, Country Manager, Visa India 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. While they pursue their studies, they can conveniently use this card to manage numerous expenses, including tuition, travel, dining, and groceries. By tailoring card features to the needs of life abroad, Visa ensures seamless, safe transactions, complete ease of use and global acceptance. This comprehensive financial solution addresses the diverse requirements of today’s students, making it worry-free so they can have a better study abroad experience.”
Key benefits of the card are:
Joining benefits:
Free worldwide two complimentary international lounge access worth USD 99;
-Get a free international SIM card;
-Complimentary Uber vouchers worth Rs 1,000;
-International Student Identity Card (ISIC) membership worth INR 999 – ISIC is an internationally accepted proof of full-time student status across 130 countries;
-Complimentary Card Protection Plus plan inclusive of Lost card/Counter card insurance up to Rs 5 lakh;
-Comes with a welcome kit that contains- passport holder, booklet and travel checklist.
Other exclusive privileges:
-Three monthly ATM fee waiver on cash withdrawal for five years;
-No mark-up charges on any cross-currency transaction;
-Get 5% cashback on all online grocery shopping and transit booking done through online channels.
FAQ’s:
What is the ICICI Bank Student Sapphiro Forex Card?
The ICICI Bank Student Sapphiro Forex Card is a premium prepaid forex card designed specifically for students going abroad for higher education. It offers exclusive benefits and convenience for managing education-related expenses.
What currencies can be loaded on the Student Sapphiro Forex Card?
The card allows students to load and transact in 15 different currencies without any cross-currency mark-up charges.
What happens if the primary card is lost or damaged?
The welcome kit includes two cards — a primary and a replacement card. The replacement card can be activated digitally through iMobile Pay, internet banking, or by calling the bank’s customer care.
Is there a cashback offer with the Student Sapphiro Forex Card?
Yes, users get 5% cashback on all online grocery shopping and transit bookings done through online channels.
How can the Student Sapphiro Forex Card be activated?
The card can be activated digitally through ICICI Bank’s iMobile Pay app, internet banking, or by calling the bank’s customer care.
