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2 mins Read | 2 Years Ago

Things to remember before opting for a Forex Prepaid Card


When you are travelling abroad, a Forex Prepaid Card can be a helpful option for all your monetary needs. A Forex Card can be reloaded with funds online, offer emergency cash assistance and enables secured transactions, among other advantages. If you are planning to go on a holiday abroad this summer, here is what you should know about Prepaid or Forex Cards.

While travelling abroad, do you always have to go through the hassle of exchanging Indian rupees for foreign currency? Visiting foreign exchange agencies can be time-consuming. Post conversion, you are required to pay commission charges to the agency. Instead of going through this process, it is always beneficial to apply for a Forex Prepaid Card.

What is a Forex Prepaid Card?

A Forex Prepaid Card is a foreign-currency prepaid card that enables you to load the card with the required currency when you are travelling overseas. The card helps you to avoid currency rate fluctuations and save cross-currency charges. You can load the card with any different foreign currencies of countries, such as the UK, US, Canada, Singapore, Japan, New Zealand, Saudi Arabia, Hong Kong, Australia, Sweden, South Africa, Thailand, Switzerland, UAE, and Europe. A Forex Card is convenient, safe and easy to use. Make online payments easily with just a swipe, like a Debit or Credit Card.

Things to remember before opting for a Forex Prepaid Card

Easy online transactions:

In case of an emergency, you can avail cash by swiping the Forex Prepaid Card. For instance, ICICI Bank’s Forex Prepaid Card can be used for swipe transactions/ATM transactions overseas and can also be used for online transactions on international sites.

Online reload:

Reloading the Forex Prepaid Card online with the required currency is quick and easy. Link the card with your ICICI Bank Savings Account Internet Banking or the iMobile Pay app, and you can manage every transaction, load the currency, block/unblock the card, among other services.

Refund of unspent currency: 

On your return to India, you can choose to retain the unspent foreign currency. This attracts no refund charges. In either case, you can also use the balance currency at duty-free stores to grab last-minute souvenirs for your loved ones.

Avoid charges:

Often, when you exchange currency through any foreign exchange traders or agencies, you are required to pay a conversion fee and commission charges. In the case of a Forex Prepaid Card, you get to avoid 3.5% cross currency/ mark-up charges. However, when the Forex Prepaid Card gets activated, the joining fee and GST will be debited from the card.

Replacement Card / Regenerate PIN:

An ICICI Bank Forex Prepaid Card kit comes with a free replacement card and a replacement card PIN. In case your card gets lost or stolen, the replacement card can be activated. In case the customer loses both the primary card and the replacement card, you can request a new replacement kit, which will be delivered to your international/domestic address.

Exclusive benefits:

Avail benefits on shopping, dining, stay and much more while travelling abroad with your ICICI Bank Multicurrency Forex Prepaid Card. If you apply for the ICICI Bank Sapphiro Forex Prepaid Card, you can avail of exclusive benefits worth Rs 10,000. This covers worldwide international airport lounge access, uber vouchers, complementary card protection from OneAssist, and 5% cashback on airline and hotel expenses, among others. Students can also apply for the ICICI Bank Student Forex Prepaid Card and avail benefits worth Rs 5,000.

Students going abroad for studies or frequent travellers can apply for a Forex Prepaid Card from ICICI Bank using the iMobile Pay app, Retail Internet Banking (RIB) or at any Forex branches.

ICICI Bank Non Account Holders can also apply for a Forex Prepaid Card online. Click here to apply.

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