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2 mins Read | 2 Years Ago

Benefits Of Using A Forex Prepaid Card While Studying Abroad

benefits-of-using-a-forex-prepaid-card-while-studying-abroad

A Forex Prepaid Card is a handy and inexpensive alternative to a Credit Card that allows you to access funds in foreign currency, when you are travelling overseas. Read further to know about the benefits of using a Forex Prepaid Card.

Every year, several students go abroad for higher studies. Choosing to study abroad also allows for a holistic personal development. One of the biggest concerns for any student going overseas is regular access to money, apart from securing an admission, packing and documentation.

It is important to carry a certain amount of local currency; however, nowadays you don’t need to carry lot of cash, when you can simply opt for a Forex Prepaid Card, a multi-currency card. It saves you from the hassle of calculating the exchange rates. In order to avoid the hassle of foreign currency exchange, you can simply opt for ICICI Bank’s Forex Prepaid Cards.

What is a Forex Prepaid Card?

These are smart and convenient alternatives, which allows you to load the required currency and swipe the card to do transactions, at merchant outlets or on e-commerce sites. One can also use the card to withdraw cash from ATMs.

Benefits of a Forex Prepaid Card, while studying abroad:

  • Safe and convenient: Carrying a Forex Prepaid Card is a safe and convenient option, for students studying abroad. Travelling with a single card instead of hard cash is much safer. Online payments for students with ICICI Bank’s Forex Prepaid Card are secured with the new 3D Secure and CHIP & PIN technology

  • Online transactions made easy: As a student, you can use a Forex Prepaid Card for making online payments, at various merchant outlets. The card also allows you to avail instant cash through an ATM withdrawal facility. With ICICI Bank’s Student Forex Prepaid Card, you can reload or refund in just a few clicks, with the help of Internet Banking or the iMobile Pay app

  • Easy to manage: Managing a Forex Prepaid Card is just like Credit or Debit Cards. In case your card gets stolen or misplaced, you can simply inform the bank through Customer Care or block your card through Internet Banking or the iMobile Pay app. In fact, ICICI Bank offers a Self-care portal, which is a one-stop-shop for managing, spending, resetting ATM PINs, blocking/unblocking cards and much more. The Bank also offers a Free Replacement Card or Replacement Card PIN, if the primary card is lost or stolen

  • Cost efficient: As compared to a traveller’s cheque, carrying a Prepaid Forex Travel Card is always a cost efficient option. Apart from this, the card also offers other benefits, including free ATM withdrawals and lower transaction rates, among others

  • Locked-in rates without fluctuation: In case you take foreign currency in cash, it will be subject to fluctuating rates. With a Forex Prepaid Card, you don’t need to worry about exchange rate fluctuations. You can save cross-currency charges, by loading the card with different currencies

  • Online Issuance & Wallet to Wallet transfer: Once you apply for a ICICI Bank Forex Prepaid Card online, it will be delivered to your designated address. You can also do Instant Wallet to Wallet Fund Transfers or use the card for cash assistance

  • Refund the unspent amount: If you are using an ICICI Bank Student Forex Prepaid Card, you can refund the unused balance instantly, using the iMobile Pay app, Internet Banking or you may visit any ICICI Bank Forex Branch.

A student planning to study abroad can easily apply for an ICICI Bank Student Forex Prepaid Card. The card offers 15 currency wallets. You don’t need to have a Savings Account with the Bank. At the time of joining, you can avail a joining benefit worth Rs 5,000, comprising of membership, card insurance and lost card coverage, among others.

T&C apply.

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