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

Introduction

The ICICI Bank Student Sapphiro Forex Prepaid Card is a premium offering from ICICI Bank, specifically designed for students pursuing education abroad. It aims to simplify expense management and enhance the study-abroad experience by providing a host of exclusive features. Key benefits include support for 15 currencies, complimentary international lounge access, cashback on specific international spends, zero mark-up fees on cross-currency transactions, and comprehensive insurance coverage.

Welcome Perks & Issuance Benefits

• Complimentary DreamFolks membership, with the USD 99 annual membership fee waived.
• Uber discount vouchers worth ₹ 1,000.
• International Student Identity Card (ISIC) Membership worth ₹ 999.
• Card Protection plus insurance worth ₹ 1,600.
• Complimentary international SIM card offered by Visa.
• Free replacement card in case the primary card is lost or damaged.
• Two complimentary international lounge accesses, valid for a maximum of 1 year.

Supported Currencies & Wallet Features

• Supports 15 currencies, offering multi-currency flexibility.

Fees and Charges

• Joining Fee: ₹ 2999 + GST.
• Annual Fee: No annual fee for continued use of the card.
• Cross-Currency Markup: Zero mark-up fee on cross-currency transactions.
• International ATM Withdrawal Fees: The first 3 withdrawals every month are free of charge. Note that extra charges may apply if the withdrawal is made from a merchant ATM.
• Lounge Access Charges: After the 2 complimentary accesses are used, USD 27 will be levied for DreamFolks members on each additional lounge access.
• Physical SIM Card Delivery Charge: ₹ 100 for shipping a physical SIM card to the cardholder's address.

Travel Features & Insurance

• Complimentary Lounge Access: Enjoy 2 complimentary international lounge accesses per year.
• Backup Card Provisions: A free replacement card is provided in case the primary card gets lost or damaged.
• Insurance Covers:
  • Card Protection plus insurance worth ₹ 1,600.
  • Lost Card Liability Coverage of up to ₹ 5,00,000 in case of card loss.
• International SIM: Get a complimentary international SIM card offered by Visa.
• Security: The card comes with an embedded microchip for high-level security.
• Cashback: Earn 5% cashback on online grocery or transit spends via international websites, capped at ₹ 3,000 per month.

How to Manage the Card

• Accessing Complimentary Airport Lounges:
  • Download the DreamFolks app.
  • Log in using the membership ID and PIN provided in your Welcome Kit.
  • Use the QR code generated within the app to access partner lounges.
  • Complimentary lounge access is valid for a maximum of 1 year.
  • After the 2 complimentary accesses, subsequent visits will be charged USD 27.
  • Payment for additional lounge visits overseas can be made using the ICICI Bank Student Sapphiro Forex Prepaid Card.
• Redeeming ISIC Membership Voucher:
  • Visit the ISIC website.
  • Enter your card details to apply for the discount.
  • Complete the application to receive your International Student Identity Card.
• Redeeming Uber Voucher:
  • The Uber voucher is valid for 12 months from card activation.
  • Redeem the Uber-e Gift Card by visiting the specified redemption link (icicitravelcard.woohoo.in/uber-e-gift-card).
  • Enter your registered email ID and mobile number, then apply the voucher code from your Welcome Kit.
  • Place the order to receive the voucher via email and mobile.
  • In the Uber app, go to the payment section, tap 'Add Payment Method', select 'Gift Card', and enter the gift code to add Uber credits to your account.
• Availing the International SIM:
  • Eligible cardholders can avail the benefit by visiting visaforex.poshvine.com.
  • Log in using the card number and other details.
  • Copy the unique code from the offer tile and click the link to visit the e-SIM/SIM card vendor's platform.
  • Select preferred call plan details.
  • Complete the KYC process by uploading necessary details via an email link.
  • Choose between an e-SIM (QR code sent via email for activation) or a physical SIM card.
  • For a physical SIM card, enter the delivery address and pay a delivery charge of ₹ 100.
• Loading Funds: Information on how to add funds to the Forex Card is available through bank resources like blogs and videos.

Forex Card Review

The ICICI Bank Student Sapphiro Forex Prepaid Card is a premium and highly beneficial card specifically tailored for students studying abroad. It stands out for its comprehensive suite of features designed to simplify financial management and enhance the international student experience.

• Pros:
  • Supports 15 currencies, offering excellent multi-currency flexibility.
  • Zero mark-up fee on cross-currency transactions, leading to significant savings.
  • Includes valuable student-specific benefits like ISIC Membership and Uber vouchers.
  • Provides essential protection with Card Protection plus insurance and Lost Card Liability Coverage.
  • Offers practical travel perks such as complimentary international lounge access and a free international SIM card.
  • Features 3 monthly ATM fee waivers, reducing withdrawal costs.
  • Provides 5% cashback on online grocery and transit spends internationally.
  • Known for competitive exchange rates and wide global acceptance.
  • No annual fee for continued use.
• Cons:
  • A joining fee of ₹ 2999 + GST is applicable.
  • Charges apply for lounge access beyond the initial two complimentary visits.
  • A delivery charge is levied for physical SIM cards.
  • Additional charges may apply for ATM withdrawals from merchant ATMs.
• Who should apply: This card is an ideal companion for students heading abroad, offering a secure, convenient, and cost-effective way to manage expenses in a foreign country.

Important Product Details

• Card Name: Student Sapphiro Forex Prepaid Card
• Issuing Bank: ICICI Bank
• Target Audience: Students studying abroad
• Key Benefits:
  • Supports 15 currencies.
  • Zero mark-up fee on cross-currency transactions.
  • 3 monthly ATM fee waivers.
  • 2 complimentary international lounge accesses.
  • 5% cashback on online grocery and transit spends (capped at ₹ 3,000/month).
  • Complimentary ISIC Membership worth ₹ 999.
  • Uber discount vouchers worth ₹ 1,000.
  • Card Protection plus insurance worth ₹ 1,600.
  • Lost Card Liability Coverage up to ₹ 5,00,000.
  • Complimentary international SIM card.
  • Free replacement card.
  • Embedded microchip for enhanced security.
  • No annual fee.
  • Competitive exchange rates and wide global acceptance.
• Key Charges:
  • Joining fee: ₹ 2999 + GST.
  • Lounge access charges: USD 27 after 2 complimentary visits.
  • Physical SIM card delivery charge: ₹ 100.
  • Potential extra charges from merchant ATMs for withdrawals.
• Network Acceptance: Visa (implied by Visa offer for international SIM).

Other Details

• Definition of "One Month": For the purpose of ATM fee waivers, one month is defined as per Indian Standard Time (IST) from 00:00:00 hours of Day 1 to 23:59:59 hours of the last day of the month.
• Informational Resources: The bank provides blogs and videos covering topics such as how to load money in a forex card, best student forex cards, how to buy forex online, top forex cards for international use, and features & benefits of forex cards.