Muilticurrency Platinum Travel Card FAQs
What is the ICICI Bank Multicurrency Platinum Travel Card?
ICICI Bank Multi Currency Travel Card is a prepaid foreign currency card that makes your foreign trip totally hassle-free and convenient. You can load this prepaid card with multiple foreign currencies in India and use it to withdraw cash in the local currency from VISA / VISA PLUS ATMs and merchant outlets accepting VISA Flag cards.
The Card is sold through ICICI Bank branches. The Card also comes with features that are introduced for the first time including travel insurance, emergency assistance, advanced account management features.
Which currencies can be loaded on the ICICI Bank Multicurrency Platinum Travel Card available?
Currently we are offering world's 15 major currencies, they are:
So your Multicurrency Travel Card will have USD currency as default/base currency and every new currency loaded will be created as a currency wallet. The Card will work in all countries and will dispense local currencies only on usage at ATMs, also it will work on POS and for E-commerce transactions. But in case the US Dollar currency wallet is used in Europe, conversion charges from USD to Euro will be applicable.
Does ICICI Bank Multicurrency Travel Card have a Chip embedded on it?
Yes, The ICICI Bank Multicurrency Chip Travel Card has a chip on the card which will change the way you make payments while you are overseas. The chip on your Travel Card makes payment at merchant even more secure. The card works on chip based technology along with the magnetic strip based technology.
How does a ICICI Bank Multicurrency Chip Card work?
Following are the step for using a ICICI Bank Multicurrency Chip Card:
- The cashier inserts the chip Card in the POS terminal.
- The chip card must remain in the terminal till the transaction is completed.
- If the merchant accidentally swipes the card at the place of inserting the card, the terminal will automatically identify it as a chip card. The terminal will force the cashier to insert chip card instead of doing a swipe. If the POS terminal does not have chip facility, the card can be used for normal magnetic stripe swipe on the POS terminal.
What is a pre-authorisation? What precaution should I take if a pre-authorisation transaction has to be made on my Travel Card?
a) When you check into a hotel or rent a car using your Travel Card, the merchant may block a certain amount on your card. This is called pre-authorisation. We recommend that you DO NOT use your Travel Card at the time of checking-in or initiating a rental. Use any other credit card for making the reservations. Merchants will allow you to use your ICICI Bank Travel Card at the time of settling your final bill.
b) If you have used your Travel Card for check-in or while renting a car, please ensure that at the time of final settlement you cancel the pre-authorisation and take a fresh authorisation for the actual bill amount. If this is not done, pre-authorised funds may not be available to you immediately. Based on Visa/MasterCard norms, ICICI Bank may not be able to credit you the pre-authorised amount for up to 11 days from the date of pre-authorisation.
What is the minimum and maximum amount I can load on my Travel Card?
Usage of your ICICI Bank Travel Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA.
You may load a minimum of 200 units of currency that you have chosen for the card. e.g. in the case of a USD Card, at least $200 have to be loaded, while for the GBP Card, at least £200 have to be loaded.
You can load the card with any amount up to USD $10,000 or equivalent in other currencies in a financial year.
If you are traveling for business purpose, you can load the card up to $25,000 or its equivalent in other currencies for every business trip*.
What is Dynamic Currency Conversion?
Dynamic Currency Conversion (DCC), also referred to as Cardholder Preferred Currency (CPC), is a service offered by merchants – not VISA - in some countries when you are travelling abroad. If you choose to use the DCC service, the merchant will convert the purchase price of goods or services at the point of sale from the currency in which the price (i.e. the merchant’s local currency) is displayed into another currency (i.e. your home currency) using an exchange rate that typically includes a service fee.
We recommend NOT to opt for DCC settlement if offered by merchant at the time of payment of bills.
If I am travelling to two different countries in one trip, can I get two different currencies loaded on the same card?
Yes, ICICI Bank Multicurrency Platinum Travel Card can be loaded with more than one currency. This card can be used to transact in various countries using the amounts from the respective currency wallets at all VISA affiliated merchant outlets, ATMs and e-commerce.
*The total amount loaded on a card, all currencies combined should be done as per prevailing RBI and FEMA regulations.
You can enquire the balance free of charge at ICICI Bank ATMs in India. The balance displayed would be in Indian Rupee equivalent. You can also generate a new ATM PIN at ICICI Bank ATMs free of charge.
No, you cannot use the card in India, Nepal and Bhutan. You can enquire the balance free of charge at ICICI Bank ATMs in India. The balance displayed would be in Indian Rupee equivalent. You can also generate a new ATM PIN at ICICI Bank ATMs free of charge.
Can I retain the foreign exchange on my ICICI Bank Travel Card after returning to India?
You can retain the residual balance in the card only if it is less than $2,000. Refunds have to be claimed within 180 days from your date of arrival (as per RBI regulations). If you do not avail of the refund on time, the card would be suspended and you could face legal action.
What if I forget the ATM PIN of my ICICI Bank Travel Card?
If you forget the ATM PIN, you may generate the same through the login section provided to you.
** Currency conversion charges applicable.
*The amount loaded on a card should be done as per the Foreign Exchange Management Act, 1999 and the prevailing Reserve Bank of India regulations.
Why would I need a replacement card?
You may need a replacement card if the primary card is misplaced or lost. A replacement card is available in the card kit at the time of purchase. The replacement card can be activated online. If you happen to lose both, the primary as well as the replacement card, you can ask for another replacement card that will be sent to your registered address.
Are Mail Order / Telephone Order / IVR based / Offline transactions allowed?
Yes, Mail Order / Telephone Order / IVR based / Offline transactions are allowed on the ICICI Bank Travel Card. Any transaction, which is done in an offline mode (Manual key entry) would be accepted.
If you need any other information regarding the ICICI Bank Travel Card, please call our Customer Care.