ICICI Bank Launches 'Student Sapphiro Forex Card' for Indian Students Abroad

Tags: Economics/Business

ICICI Bank launched the 'Student Sapphiro Forex Card' on July 2, 2024, designed for Indian students going abroad for higher education.

An Overview of the News

  • It is a Visa-powered prepaid card aimed at managing various expenses including admission fees, course fees, travel, dining, and groceries.

  • Applications for the card can be submitted through the official ICICI Bank website or its banking application, iMobile Pay.

Key Features

  • Currency Support: Operates in 15 currencies without cross-currency mark-up charges

  • Joining Benefits: Up to Rs 15,000 in benefits, including exclusive privileges

  • Reload Options: Available via iMobile Pay and internet banking

Benefits

  • International Lounge Access: Two annual complimentary lounge passes worth USD 99

  • Free International SIM Card: Enhanced connectivity for students

  • Vouchers: Includes Rs 1,000 Uber vouchers

  • International Student Identity Card (ISIC): Membership worth Rs 999, recognized in 130 countries

  • Card Protection Plus: Insurance coverage up to Rs 5 lakh for lost or counterfeit cards

  • ATM Fee Waivers: Three monthly waivers on cash withdrawals for 5 years

  • Cashback: 5% cashback on online grocery shopping and transit bookings

  • No Extra Charges: No fees on cross-currency transactions

  • Welcome Kit: Includes primary and replacement cards; replacement card activation available in case of loss or damage

About ICICI Bank:

  • Managing Director (MD) and CEO: Sandeep Bakhshi

  • Founded: 1994

  • HQ: Mumbai, Maharashtra

  • Tagline: "Hum hai na, Khayal Apka"

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