ICICI Bank Student Forex Prepaid Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank Student Forex Prepaid Card is issued by ICICI Bank, specifically designed for students travelling abroad for studies. It aims to simplify money management for international students by offering multi-currency loading, competitive exchange rates, and a range of exclusive benefits such as international lounge access, Uber vouchers, and a complimentary ISIC membership. The card provides a secure and efficient way to manage finances globally, reducing the need to carry physical cash.

Welcome Perks & Issuance Benefits

• Enjoy 1 complimentary international lounge access.
• Receive Uber discount vouchers worth ₹500.
• Get an International Student Identity Card (ISIC) membership worth ₹999.
• Benefit from 1 monthly ATM fee waiver for 5 years.
• Receive a complimentary international SIM card offered by Visa.
• Get a free replacement card in case the primary card is lost or damaged.
• Voucher codes for Dreamfolks (lounge access) and Uber are sent to the registered mobile number or email address within 7 working days post initial load.
• Get exciting deals and discounts on international travel-related spends.
• Receive a 20% discount on DHL courier services.

Supported Currencies & Wallet Features

• The card supports multiple major currencies, including USD, Euro, Canadian dollar, and several more.
• It allows loading multiple currencies on a single card.
• The card offers competitive exchange rates.

Fees and Charges

• Issuance Fee: Nil
• Annual Fee: Nil
• Reloading Fee: Rs. 100
• Cross-Currency Markup: 3.5% (applicable when making transactions in a different currency than the one loaded on your card).
• International ATM Withdrawal Fees:
  • The first ATM withdrawal each month is free for 5 years.
  • Subsequent withdrawals might incur a fee of USD 2 (or equivalent value of other currencies).
  • The maximum cash withdrawal limit is Rs. 2,000 per day.
• Card Replacement Fee: Free
• Inactivity Fee: USD 5 (charged if the card remains unused for more than 180 days).
• Physical SIM Card Delivery Charge: ₹100 (for physical SIM card delivery, if chosen instead of e-SIM).

Travel Features & Insurance

• Complimentary Lounge Access: Enjoy 1 complimentary international lounge access.
• Backup Card Provisions: Free replacement card in case the primary card gets lost or damaged.
• Insurance Covers:
  • Free travel insurance.
  • Lost Card liability coverage of up to ₹5,00,000 (applicable only if the loss is reported in a timely manner).
  • Card Protection Plus insurance cover worth ₹1,600.
• Travel Benefits:
  • 40% discount on excess baggage.
  • Several other travel-related deals under short-term offers.
  • Complimentary international SIM card offered by Visa.

How to Manage the Card

• Loading Funds: Easy reload options are available. Funds can be added via ICICI Bank internet banking, iMobile Pay app, or the official website.
• Online Card Management: The card offers online management features.
• Availing Complimentary International Lounge Visits:
  • Open the DreamFolks app.
  • Enter mobile number and OTP.
  • Enter membership ID and PIN from the kit.
  • Browse for required service, enter airport name, select outlet.
  • Click on 'Member Access', select card, and show QR Code for access.
  • Complimentary lounge access is valid for a maximum of 1 year.
• Redeeming Uber Gift Voucher:
  • Visit the specified redemption link.
  • Enter registered email ID and mobile number.
  • Enter the voucher code from the kit in the "Enter ICICI Bank Voucher Code" box and click Apply.
  • Place order to receive the voucher on registered email ID and mobile number.
  • Voucher Code is valid for 12 months from the date of card activation.
  • Add the gift code in the Uber app's payment section to add credits.
• Availing International Student Identity Card (ISIC) Voucher:
  • Visit the ISIC ordering page and click 'Order Card'.
  • Fill in required details, ensuring the email address is correct.
  • Check details on the mock-up card.
  • On the payment page, enter the first 6 digits of the ICICI Bank Visa Forex Card in the 'Discount Voucher' section to apply the discount, then click 'Place Order'.
  • Upload documents via email or a provided link.
  • Upon approval, the digital ISIC card and serial number will be emailed.
• Availing International SIM:
  • Visit the Visa Forex SIM offer link.
  • Login using the card number and other details to check benefit validity.
  • Copy the unique code from the offer tile and click the link to the vendor's platform.
  • Select preferred call plan details.
  • Complete KYC process by uploading necessary details.
  • Choose between e-SIM (QR code sent via email) or physical SIM card (delivery address required, ₹100 delivery charge).

Forex Card Review

The ICICI Bank Student Forex Prepaid Card is an excellent choice for students planning to travel abroad for study purposes, offering an affordable and convenient way to manage international purchases. It provides a good balance of benefits and a nominal membership fee. Cardholders should ensure regular usage (at least once every 180 days) to avoid inactivity fees. While ideal for students, those on short-term trips or travelling for other purposes might consider alternative cards.

Important Product Details

• Best suited for students travelling abroad for studies and international spends.
• Comes with an embedded microchip for high-level security (Chip and PIN protection).
• Allows payment of tuition fees directly to universities in local currency.
• Offers round-the-clock customer support.
• Accepted globally.
• Positive highlights: Low fees, secure access, global acceptance, multi-currency support, competitive exchange rates, comprehensive insurance coverage, easy online reloading.
• Negative highlights: Inactivity fee if unused for more than 180 days. Cross-currency markup of 3.5% for unlisted currencies.

Important Guidelines (TCS & LRS)

• LRS Declaration and Form A2: Required documents for application, indicating adherence to Liberalised Remittance Scheme (LRS) guidelines.

Other Details

• Eligibility: Anyone travelling abroad for study purposes.
• Documents Required:
  • LRS declaration and Form A2 plus an application form.
  • Self-attested PAN Card copy.
  • Original Passport of the applicant along with a self-attested photocopy.
  • Original Aadhar Card of the applicant along with a self-attested photocopy.
  • Self-attested Visa copy.
  • Proof of Study (University or college enrolment letter).
  • Any additional verification documents as per ICICI Bank policy.
• The card is a prepaid card that allows loading and spending multiple currencies securely.
• The card is among the best student cards in India.