ICICI BankGoibibo ICICI Bank Forex Prepaid Card – Benefits, Fees & Eligibility
Is the Goibibo ICICI Bank Forex Prepaid Card Right for You?
The Goibibo ICICI Bank Forex Prepaid Card is best suited for users who prioritize Travel, International Spends, Dining. With a joining fee of ₹499 + GST and a renewal fee of Nil, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Not Applicable as its primary reward mechanism, with a rewards rate of No reward points; benefits include forex rate discounts and travel-specific vouchers..
Key Card Details
₹499 + GST
Nil
Not Applicable
0% for loaded currency; 3.5% cross-currency markup fee.
Notable Perks
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Insurance Coverage
Air accident cover (Rs. 10 Lakh), lost passport (USD 500), and baggage delay (USD 300).
Spend-Based Waiver
Not Applicable
Movie Benefits
Not Applicable
Golf Benefits
Not Applicable
Things to Consider
Lacks a recurring reward point or cashback system for everyday international transactions.
Does not provide any complimentary domestic or international airport lounge access for travelers.
A reloading fee of Rs. 100 is charged every time you add funds to the card.
Benefits & Features
Welcome Offer
goCash+ voucher worth Rs. 500 and Goibibo vouchers worth up to Rs. 15,000.
Rewards Rate
No reward points; benefits include forex rate discounts and travel-specific vouchers.
Reward Type
Not Applicable
Reward Redemption
Vouchers are redeemed directly through the Goibibo platform for travel bookings.
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Premium Benefits
Not Applicable
Insurance Coverage
Air accident cover (Rs. 10 Lakh), lost passport (USD 500), and baggage delay (USD 300).
Movie Benefits
Not Applicable
Dining Benefits
15% discount at 100+ Indian restaurants in cities like Dubai, London, and Singapore.
Travel Benefits
Zero markup on loaded currency and Rs. 0.40 discount on forex rates for USD 1,000 load.
Fees & Charges
Joining Fee
₹499 + GST
Renewal Fee
Nil
Spend-Based Waiver
Not Applicable
Foreign Currency Markup
0% for loaded currency; 3.5% cross-currency markup fee.
Interest Rates
Not applicable as it is a prepaid card.
Fuel Surcharge Waiver
Not Applicable
Cash Advance Charges
USD 2 per ATM withdrawal; 0.5% for POS cash withdrawals.
Rewards Redemption Fee
Not Applicable
Pros & Cons
Pros
Key benefits and features of this card.
Offers significant welcome value with Goibibo and goCash+ vouchers worth over Rs. 15,000.
No foreign currency markup when spending in the specific currency loaded onto the card.
Comprehensive insurance package covering air accidents, baggage delay, and loss of passport.
Enjoy 15% discounts at various Indian restaurants across several major international cities.
Cons
Key drawbacks and limitations of this card.
Lacks a recurring reward point or cashback system for everyday international transactions.
Does not provide any complimentary domestic or international airport lounge access for travelers.
A reloading fee of Rs. 100 is charged every time you add funds to the card.
High 3.5% cross-currency markup fee when spending in currencies not loaded on the card.
Product Details
Multi-currency support for international travel requirements.
Complimentary OneAssist wallet protection and card assistance services.
Global acceptance at Visa-enabled online and physical merchants.
No minimum income requirement for card eligibility and issuance.
Instant reloading through iMobile app or internet banking channels.
Dedicated insurance cover for lost passport and missed international flights.
Benefits & Features
Welcome Offer
goCash+ voucher worth Rs. 500 and Goibibo vouchers worth up to Rs. 15,000.
Rewards Rate
No reward points; benefits include forex rate discounts and travel-specific vouchers.
Reward Type
Not Applicable
Reward Redemption
Vouchers are redeemed directly through the Goibibo platform for travel bookings.
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Premium Benefits
Not Applicable
Insurance Coverage
Air accident cover (Rs. 10 Lakh), lost passport (USD 500), and baggage delay (USD 300).
Movie Benefits
Not Applicable
Dining Benefits
15% discount at 100+ Indian restaurants in cities like Dubai, London, and Singapore.
Travel Benefits
Zero markup on loaded currency and Rs. 0.40 discount on forex rates for USD 1,000 load.
What matters, explained clearly
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
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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.