ICICI Bank unveils ‘Student Sapphiro Forex Card’ for international students

ICICI Bank has launched the ‘Student Sapphiro Forex Card’, a premium forex prepaid card designed exclusively for students traveling abroad for higher education. This initiative, powered by Visa, aims to facilitate seamless financial transactions for students and their parents managing education-related expenses overseas. The introduction of this card is timely, aligning with the increasing trend of Indian students pursuing studies internationally.

The Student Sapphiro Forex Card allows students to load and transact in 15 different currencies without incurring any cross-currency mark-up charges. This feature provides significant savings and convenience, enabling students to travel globally without the hassle of managing multiple currencies. The card’s launch reflects ICICI Bank’s commitment to enhancing the financial mobility of students studying abroad.

Niraj Tralshawala, Head of Payment Solutions at ICICI Bank, commented on the launch, stating, “We are delighted to offer a new premium forex card with attractive benefits for students travelling abroad for education. It offers students the triple advantage of payment of tuition and daily expenses, digital re-loading of the card by parents from anywhere, and additional curated benefits. We believe that this card empowers students and their parents with a hassle-free and seamless experience for payments abroad.”

The Student Sapphiro Forex Card comes loaded with a suite of benefits, including:

– Two complimentary international lounge accesses valued at USD 99.

– A free international SIM card to stay connected.

– Complimentary Uber vouchers worth INR 1,000.

– An International Student Identity Card (ISIC) membership, providing globally recognized proof of student status.

– A comprehensive Card Protection Plus plan covering lost card incidents and counterfeit card insurance up to INR 5 lakh.

Additionally, the card offers three monthly ATM fee waivers for five years and 5% cashback on all online grocery and transit bookings, enhancing the daily living experience of students abroad.

Visa’s Country Manager for India, Sujai Raina, expressed enthusiasm about the collaboration, “Visa is delighted to partner with ICICI Bank to launch the Student Sapphiro Forex Card, created for the growing student segment opting for overseas education. While they pursue their studies, they can conveniently use this card to manage numerous expenses, including tuition, travel, dining, and groceries. By tailoring card features to the needs of life abroad, Visa ensures seamless, safe transactions, complete ease of use, and global acceptance. This comprehensive financial solution addresses the diverse requirements of today’s students, making it worry-free so they can have a better study abroad experience.”

The card comes with a welcome kit containing a primary and a replacement card, which can be digitally activated via ICICI Bank’s iMobile Pay app, internet banking, or by calling customer care. This digital-first approach ensures that students and their parents can reload the card instantly and from anywhere, providing continual support throughout the student’s educational journey.

In addition to the Student Sapphiro Forex Card, ICICI Bank offers a range of financial products tailored for students studying abroad, including the ICICI Bank Student Forex Card and the Multicurrency Forex Card. These offerings underline the bank’s commitment to supporting the academic and lifestyle needs of international students.

This strategic move by ICICI Bank not only caters to the financial needs of international students but also positions the bank as a preferred partner for overseas education-related financial services.