Goibibo ICICI Bank Forex Prepaid Card

The Goibibo ICICI Bank Forex Prepaid Card is a co-branded travel solution offered by ICICI Bank in partnership with Goibibo. As a prepaid card, it requires users to load funds onto the card account before spending. This card is designed for frequent international travelers, offering exclusive Goibibo perks such as goCash+ gift vouchers and significant travel discounts. While it does not follow a traditional reward point system, it provides value through discounted forex rates, dining offers across multiple countries, comprehensive insurance coverage, and lifestyle benefits.

Welcome Benefits

• goCash+ Gift Voucher: Receive a gift voucher worth Rs. 500. goCash+ is 100% redeemable currency on the Goibibo platform.
• Goibibo Vouchers: Complimentary Goibibo vouchers worth up to Rs. 15,000.
• Loading Bonus (on USD 1,000):
  • Cab voucher worth Rs. 1,000.
  • Discount of Rs. 0.40 on the forex conversion rate at the time of loading.
• Wallet Protection: Complimentary card protection from OneAssist wallet assistance valued at Rs. 1,600.

Fees

• Joining Fee: Rs. 499 (plus applicable taxes) charged at the time of card issuance.
• Annual Fee: There is no annual fee for this card.
• Reloading Fee: Rs. 100 is charged every time the card is reloaded with funds.
• Foreign Currency Markup:
  • 0% markup for transactions made in the specific currency loaded on the card.
  • 3.5% cross-currency markup fee applicable on transactions conducted in a currency different from the one loaded on the card.
• Cash Advance Charges:
  • ATM Withdrawals: USD 2 (or currency equivalent) per transaction.
  • Point of Sale (POS) Cash Withdrawals: 0.5% of the transaction amount.
• Interest Rates: Not applicable as it is a prepaid card.
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Not applicable.

Rewards

Dining

• International Dining Discount: Enjoy a flat 15% discount on dining at over 100 Indian restaurants across six countries: Kuala Lumpur, Dubai, London, Singapore, Hong Kong, and Bangkok when paying with the card.

Travel

• Forex Rate Discount: Discount of Rs. 0.40 on the forex rate when loading at least USD 1,000.
• Cab Vouchers: Rs. 1,000 cab voucher provided upon loading USD 1,000.
• Global Acceptance: Accepted at all international online stores and physical outlets that accept Visa credit or debit cards.
• Duty-Free Shopping: Can be used for purchases at airport duty-free stores.

Lifestyle

• Croma Discount: Get a discount of Rs. 500 at Croma outlets, including airport stores and online.
• OneAssist: Complimentary wallet assistance and card protection worth Rs. 1,600.

Insurance Benefits

• Air Accident Cover: Rs. 10 lakh.
• Lost Card Liability: Up to Rs. 5 lakh (some documentation mentions Rs. 2 lakh).
• Counterfeit Card Liability: Rs. 5 lakh.
• Checked-in Baggage Delay: USD 300.
• Loss of Passport and Tickets: USD 500.
• Missing Connecting International Flight: USD 300.
• Plane Hijacking: Up to USD 3,000.

Rewards Redemption Guide

• Reward Points: This card does not have a traditional reward point or cashback structure.
• Benefit Usage: Benefits like goCash+ and Goibibo vouchers are redeemed directly through the Goibibo platform or specified merchant outlets.

Card Eligibility Criteria

• Income Requirement: As a prepaid card, there is no minimum income requirement for eligibility.
• Documents Required for Non-ICICI Customers:
  • Copy of PAN Card.
  • Copy of Aadhaar Card.
  • Passport copy (with valid Visa).
  • Form A2 along with the card application form.
• For ICICI Bank Account Holders: No additional documents are required for the application.

Card Review

The Goibibo ICICI Bank Forex Prepaid Card is an excellent choice for frequent international travelers who prefer using Goibibo for flight and hotel bookings. Unlike standard credit cards, it functions on a "load-and-spend" basis, which helps in managing travel budgets without the risk of overspending or incurring high interest.

Pros:

• Significant welcome value through Goibibo and goCash+ vouchers.
• Zero markup on transactions made in the loaded currency.
• Strong insurance package covering travel-specific risks like baggage delay and loss of passport.
• Useful dining discounts for those missing Indian cuisine while abroad.

Cons:

• Lacks a recurring reward point system for every spend.
• Does not offer complimentary domestic or international airport lounge access.
• Fees apply for every reload.

Important Product Details

• Positive Highlights:

  • Low entry cost with high initial voucher value.
  • No annual maintenance fees.
  • Multi-country dining discounts at Indian restaurants.
  • Comprehensive travel insurance including high air accident and lost card covers.
  • Easy application process for existing ICICI Bank customers.

• Negative Highlights:

  • No reward points or cashback on transactions.
  • No airport lounge access benefits.
  • Reloading fee of Rs. 100 per instance.
  • Cash withdrawal fees at international ATMs.

Other Details

• Application Channels: Users can apply via internet banking, the iMobile Pay app, or by visiting ICICI Bank forex branches.
• Usage: The card is strictly for international transactions and is widely accepted at Visa-enabled merchants globally.