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ICICI Bank launches Student Sapphiro Forex Card for Indian students

July 02, 2024





  • The premium card is curated for students going abroad for education
  • The card offers joining benefits worth up to INR 15,000

Mumbai: ICICI Bank today announced the launch of its ‘Student Sapphiro Forex Card’, a premium forex prepaid card crafted specifically for students who are going abroad for higher education. The card, powered by Visa, provides exclusive benefits and convenience to students as well as their parents to manage education related expenses abroad such as admission fees, course-related fees and other day-to-day expenses including travel, dining and groceries, among others.

The card offers the freedom of loading and transacting in 15 currencies, without any cross-currency mark-up charge being levied by the Bank, allowing students to conveniently travel across the globe even if they load only one currency on the card. This initiative comes in the wake of continuing surge in the number of Indian students going overseas for higher education.

The ICICI Bank Student Sapphiro Forex Card comes with an array of joining benefits up to Rs 15,000, along with exclusive privileges. It comes with a welcome kit with two cards-- a primary and a replacement card-- that can be activated digitally through iMobile Pay, internet banking or by calling the Bank’s Customer Care in the event of loss/damage of the primary card. Like any other forex card offered by the Bank, this card can be reloaded digitally using iMobile Pay and internet banking by the students and their parents, instantly, anytime and from anywhere. With this card, the Bank has a suite of forex cards for students travelling abroad. 

Speaking on the launch, Mr. Niraj Tralshawala, Head- Payment Solutions, ICICI Bank said, “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.”

Mr. Sujai Raina, Country Manager, Visa India said, “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.” 

Key benefits of the card are:

Joining benefits

  • Free worldwide two complimentary international lounge access worth USD 99
  • Get a free international SIM card
  • Complimentary Uber vouchers worth INR 1,000
  • International Student Identity Card (ISIC) membership worth INR 999 - ISIC is an internationally accepted proof of full-time student status across 130 countries
  • Complimentary Card Protection Plus plan inclusive of Lost card/Counter card insurance upto INR 5 lakh
  • Comes with a welcome kit that contains- passport holder, booklet and travel checklist

Other exclusive privileges

  • Three monthly ATM fee waiver on cash withdrawal for five years
  • No mark-up charges on any cross-currency transaction
  • Get 5% cashback on all online grocery shopping and transit booking done through online channels

To apply for the card, ICICI Bank customers can visit: or iMobile Pay: Cards & Forex > Forex Prepaid Cards > Apply Now.

ICICI Bank also offers the ICICI Bank Student Forex Card and Multicurrency Forex Card to students travelling abroad for their education.

*Terms and conditions apply on the rewards of the benefits. 

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 18,71,515 crore at March 31, 2024.

For news and updates, visit and follow ICICI Bank on X at

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About Visa: Visa (NYSE:V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at 

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at

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