ICICI Bank Coral Travel Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank Coral Forex Prepaid Card is a foreign exchange card offered by ICICI Bank, primarily designed for international travelers, including leisure vacationers and frequent travelers, to make their overseas trips convenient and rewarding. It serves as a robust alternative to credit cards for foreign transactions, offering benefits such as free travel insurance, various joining vouchers, easy online card management, and comprehensive lost card liability coverage. The card aims to provide a secure and cost-effective solution for international spending.

Welcome Perks & Issuance Benefits

• BookMyShow Voucher: A voucher worth ₹500 is provided as a joining benefit.
• Uber Voucher: A ₹500 Uber voucher is offered upon buying the Forex Prepaid Card and loading a minimum of USD 1,000.
• Card Protection Plus Insurance: Includes insurance worth ₹1,600.
• Complimentary OneAssist Complete Card Protection: Provides comprehensive protection for the card.
• Free Replacement Card: A free replacement card is provided in the welcome kit, which can be activated in case the primary card is lost or damaged.

Supported Currencies & Wallet Features

• The card supports multiple currencies, allowing users to load funds in various foreign currencies.
• Transactions made in the currency loaded on the card do not incur a foreign currency mark-up fee.

Fees and Charges

• Joining Fee: ₹499 + GST.
• Annual Fee: Nil (No annual fee for continued use of the card).
• Foreign Currency Markup:
  • No mark-up fee is applicable on transactions made in the currency loaded on the card.
  • A cross-currency usage fee of 3.5% of the transaction amount is levied on transactions made in a currency other than the one loaded on the card.
• International ATM Withdrawal Fees:
  • USD 2 (or currency equivalent) on cash withdrawals from ATMs.
  • 0.5% of the transaction amount on cash withdrawals from POS.
• Card Replacement Fee: Free (a free replacement card is provided).

Travel Features & Insurance

• Complimentary International SIM: Eligible cardholders can avail a complimentary international SIM card offered by Visa. The process involves logging in with the card number, copying a unique code, selecting a call plan, completing KYC, and choosing between an e-SIM (QR code via email) or a physical SIM (delivery charge of ₹100).
• Lost Card Liability Coverage: Coverage of up to ₹5,00,000 in case of card loss or theft, providing financial protection.
• Free Replacement Card: A backup card is provided in case the primary card gets lost or damaged.
• Comprehensive Insurance Plan: Includes various travel-related insurance benefits:
  • Air Accident: Rs. 10 lakh
  • Checked-in Baggage Delay: USD 300
  • Loss of Passport/Tickets: USD 500
  • Missing Connecting International Flight: USD 300
  • Plane Hijacking: Up to USD 3,000
  • Counterfeit Card Liability: Rs. 5 lakh
  • Lost Card Liability: Rs. 5 lakh
• Emergency Travel Assistance: Access to emergency cash delivery and concierge services during international travel.
• Discounts: Exciting discounts on travel, dining, and shopping around the world.
• Lounge Access: No complimentary domestic or international airport lounge access is provided.

How to Manage the Card

• Application Process:
  • Existing ICICI Bank customers can apply by logging into Internet Banking.
  • New customers can apply via a provided link.
  • Applications can also be made through the iMobile app or by visiting any ICICI Bank Forex Branch.
• Fund Loading: The card offers easy reload options and online card management.
• Online Management: Users can manage their card online.

Forex Card Review

The ICICI Bank Coral Forex Prepaid Card is a highly recommended option for international travelers, especially those who frequently travel or enjoy movies, due to its comprehensive benefits and cost-effectiveness. It stands out as a good alternative to credit cards for foreign trips, primarily because it charges no foreign currency mark-up fee when transactions are made in the currency loaded on the card. While it lacks a traditional reward points or cashback structure, the welcome benefits, including BookMyShow and Uber vouchers, effectively justify the initial issuance fee. Its wide global acceptance, competitive exchange rates, and features like online card management and easy fund loading contribute to a stress-free and enjoyable international travel experience, minimizing the risk associated with carrying large sums of cash.

Important Product Details

• Card Type: Prepaid foreign exchange card.
• Network: Visa network.
• Usage:
  • Can be used at all international online and offline merchants registered outside of India that accept Visa credit/debit cards.
  • Accepted at duty-free stores at international airports across India.
  • Cannot be used for shopping at online/offline merchants registered within India.
• Security: Comes with an embedded microchip for high-level security.
• Documentation: Hassle-free documentation process for purchase through the iMobile app or at ICICI Bank Branches.
• Personalised Service: Customers can reach out to their Relationship Manager for assistance.
• Reward Structure: The card does not have a reward structure (reward points/cashback).

Other Details

• Most Important Terms & Conditions (MITC): Users are advised to refer to the MITC for other applicable charges and detailed terms.
• Application Requirements: To apply, customers are required to submit copies of their PAN card, Aadhar card, Passport (with Visa), and Form A2 along with the card application form.
• Voucher Redemption:
  • Uber Voucher: Redeemable on the Uber-e Gift Card page by entering email, mobile number, applying the voucher code, and placing the order for Uber credits.
  • BookMyShow Voucher: Redeemable on the BookMyShow website or app by choosing ‘Gift Voucher’ as the payment method and entering the voucher number.