What is the ICICI Bank Travel Card?
ICICI Bank Travel Card is a prepaid foreign currency card that makes your foreign trip totally hassle-free and convenient. You can load this pre-paid card with foreign currency in India and use it to withdraw cash in the local currency from over 1 million VISA ATMs and shop at over 27 million merchant establishments accepting VISA Flag cards. The Card is sold through ICICI Bank branches and select money changers. The Card also comes with never before features including travel insurance, emergency assistance, advanced account management features. Top
In which currencies is the ICICI Bank Travel Card available in?
ICICI Bank Travel Card is available in 6 currencies at present.
US Dollars
Euro
Pound Sterling
Swiss Francs
Australian Dollars
Canadian Dollars
So the US Dollar card will have USD loaded on to it (just like the USD Traveler's Cheque). The Card will work in all countries and will dispense local currencies only on usage at ATMs, but in case the US Dollar card is used in say Europe, Visa conversion charges from USD to Euro will be applicable.
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Where I can buy the Travel Card?
You Can apply at Select ICICI Bank Branches or Select FFMC Branch
(Download ICICI Bank Branch Address from here)
(Download FFMC Branches Address from here)
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Why should I use an ICICI Bank Travel Card?
An ICICI Bank Travel Card ensures that you have a hassle free business or pleasure trip abroad. Instead of spending time encashing travelers cheques or changing money though Money Changers, The ICICI Bank Travel Card ensures that you have 24-hours instant access to your funds. Apart from time and effort, you would also save money by getting the most competitive foreign exchange rates. Since it is a pre-paid card, it also helps you budget and plan your expenses. It also ensures that you spend your time in your business or leisure trip or abroad productively with an assurance of having an access to a wide network of people who are in stand by in case you were to need any help.
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How do I buy an ICICI Bank Travel Card?
Visit select ICICI Bank Branch or select money changers (For Details, please call up our Customer Care Centre). Keep the following documents ready:
. Passport
. A2 form
. PAN / Form 60 (in case you do not have a PAN number)
On submitting a cheque for the desired amount, you will get your Travel Card immediately. ( Download forms here) Top
What is the schedule of charges?
Schedule of charges:
Charges Amount
US Dollar Card Euro Card GBP Card AUD Card CAD Card Swiss Franc Card
Card Fees and Replacement Fees One time card joining fee Rs. 150 Rs. 150 Rs. 150 Rs. 150 Rs. 150 Rs. 150
Reload fee Rs. 100 Rs. 100 Rs. 100 Rs. 100 Rs. 100 Rs. 100
Lost card replacement charges at foreign locations $20.00 $20.00 $20.00 $20.00 $20.00 $20.00
Lost card replacement in India $3.00 $3.00 $3.00 $3.00 $3.00 $3.00
ATM Usage Fees Cash withdrawal at ATMs $1.50 1.50 € £1.50 1.50 AUD 1.50 CAD sFr. 1.50
Balance enquiry at ATMs $0.50 0.50 € £0.50 0.50 AUD 0.50 CAD sFr. 0.50
Payments to merchants directly using POS terminals NIL NIL NIL NIL NIL NIL
E-Commerce NIL NIL NIL NIL NIL NIL
*Service Charge Extra
*Some of the ATM acquirers charge additional ATM fee. You are advised to check the same before the usage.
Service Tax
As per directives of Budget 2008, service tax shall be levied on services in relation to purchase or sale of foreign currency effective from 1st May, 08. All transactions involving purchase, sale or exchange of foreign currency would be within the purview of service tax. Service tax shall be attracted on the service fee @ 12.36%. In case the service fee is not charged separately, service tax shall be attracted @ 0.25% on the gross amount of the foreign currency transaction. The levy would cover all retail, corporate and interbank transactions either at ICICI Bank branches or Full Fledged Money Changers (FFMC) as the case may be.
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How does this pre-paid card work?
Your pre-paid Travel card is loaded with funds at the time of purchase. You can use then use card for cash withdrawal or for shopping at merchant outlets. With each transaction, the remaining value on the card decreases. You can continue to use your card as long as some funds remain on the card account. You can recharge the card with more funds before your next trip when you return to India. Top
What needs to be done incase Hotels/Car Rentals take a Pre-Authorization?
Hotels/Car Rentals before check-in/renting services etc, take a pre-auth on your card. A Pre-Auth is essentially blocking of certain amount on your card. At the time of checking out of the hotel/settling the bill, you should:
Ask the executive to settle the final bill against the pre-auth that was taken. Example: If Pre-Auth was taken for $500, and the final bill is $300, this should be settled