ICICI Bank Sapphiro Forex Prepaid Card Review
ICICI Bank Sapphiro Forex Prepaid Card
Introduction
Forex Prepaid cards are like credit cards but can be used internationally. They are a convenient alternative to carrying foreign currency when travelling overseas. You can withdraw cash from an ATM from outside the country you’re in.
What is the ICICI Bank Sapphiro Forex Prepaid Card?
ICICI Bank Sapphiro Forex Prepaid Card is a Forex card that can be loaded with multiple currencies. It offers a convenient and secure way to carry money abroad.
The card can be used at any ICICI Bank ATM or merchant outlet abroad, where Visa / MasterCard logo is displayed.
You can load your card with 15 foreign currencies to save on currency fluctuations and cross-currency charges.
Highlights of ICICI Bank Sapphiro Forex Prepaid Card
ICICI Bank Sapphiro Forex Prepaid Card
- 5% cashback on online hotel/flight bookings (max cashback capped at Rs. 3,000 per month)
- Free replacement card provided with the primary card in the welcome kit
- Shopping at duty-free stores at airports in India
- Complimentary Dragon Pass membership with 2 international lounge access per annum
- Complimentary OneAssist complete card protection cover
Fees & Charges
| Description | Fees & Charges |
|---|---|
| Joining Fee | Rs. 2,999 + GST |
| Renewal Fee | Rs. 999 + GST |
| Add on Card Fee | NIL |
| Foreign Currency Markup Charges | NIL |
| Reward Redemption Fee | Rs. 99 |
| Finance Charges | 3.40% per month / 40.80% p.a. |
| Late Payment Fee | Nil for the amount due less than Rs.100 Rs.100 for an amount between Rs.100 and Rs.500 Rs.500 for the total amount due greater than Rs.501 and up to Rs.10,000 Rs.750 for the total amount due greater than Rs.10,000 |
How to Use the ICICI Bank Sapphiro Forex Prepaid Card?
The ICICI Bank Sapphiro Forex Prepaid Card is a great way to save on foreign currency exchange fees when travelling. Here’s how to use it:
Benefits of the ICICI Bank Sapphiro Forex Prepaid Card
Suppose you are looking for a prepaid card with excellent features and benefits. In that case, you should definitely check out the ICICI Bank Sapphiro Forex Prepaid Card.
This card is ideal for those who frequently travel, as it offers several advantages that make it an excellent choice for use abroad.
Some of the key advantages of the ICICI Bank Sapphiro Forex Prepaid Card include:
ICICI Bank Sapphiro Forex Prepaid Card
- No need to carry cash – The ICICI Bank Sapphiro Forex Prepaid Card allows you to load foreign currency onto the card, which can then be used to make purchases or withdrawals overseas. This means you don’t need to carry large amounts of cash, which can be unsafe
- Convenient and easy to use – The ICICI Bank Sapphiro Forex Prepaid Card is very convenient and easy to use. You can simply swipe the card at any merchant that accepts Visa cards. The transaction will be processed in the local currency. There is no need to worry about exchanging currencies or calculating conversion rates
- Safe and secure – The ICICI Bank Sapphiro Forex Prepaid Card is safe and secure
Are there any drawbacks?
ICICI Bank Sapphiro Forex Prepaid Card
- There is no grace period for interest on this card, so any balance that is carried over from one month to the next will accrue interest at the standard rate ( Nitpicking here )
Conclusion
The Sapphiro Forex Prepaid Card from ICICI Bank is an excellent option for those looking for a reliable and secure way to store and use their foreign currency.
The card offers competitive rates, good customer service, and a wide range of features, making it a considerable choice for frequent travellers.
If you’re looking for a Forex card that will make your life easier, the Sapphiro Forex Prepaid Card from ICICI Bank is definitely worth considering.
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FAQs
What is the Sapphiro Forex Prepaid Card?
The Sapphiro Forex Prepaid Card is a prepaid card offered by ICICI Bank that can be used for transactions in foreign currency. The card can be loaded with up to 20 different currencies and used at ATMs and POS terminals worldwide.
How does the Sapphiro Forex Prepaid Card work?
Once you have loaded the card with the desired amount of foreign currency, you can use it to make transactions in the same currency. The card automatically converts the transaction amount into the local currency based on the current exchange rate.
What are the merits of using the Sapphiro Forex Prepaid Card?
Some of the benefits of using the Sapphiro Forex Prepaid Card include:
* No need to carry large amounts of cash when travelling abroad
* Can be used at millions of ATMs and POS terminals around the world
* Safe and secure way to make transactions in foreign currency
* Competitive exchange rates
Hey, you mentioned that it has foreign transaction fee of 3% in drawbacks section also you mentioned Foreign Currency Markup Charges 3.50% in fees & charges
But it doesn’t have any fee as you told in top conclusion and I read on website
Thanks for pointing out the data error. I am humbled with readers like yours. Keep a critical view and help me to produce quality, error-free content.
i would like to ask you these card have no cross currency fees, that means i am staying in philippines can i load usd and withdraw the philippine pesos so no cross currency fee will apply for these card ?
am i right
Hi Ravindra !! Yes, you are correct. There are no cross-currency charges on this card.
Is only USD available to be loaded in these cards or can i load any Currency?
No. You can’t add any currency you like. You can load a total of 15 foreign currencies on the card as specified by the bank. I have clearly mentioned those currencies above( in a box).