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ICICI Bank Sapphiro Forex Prepaid Card

ICICI Bank Sapphiro Prepaid Forex Card is a premium forex card by the bank as it comes with quite a high issuance (joining) fee of ₹2,999 + GST, and offers benefits like complimentary international lounge access, discounted rates on hotel/flight bookings, and many more. Unlike credit cards, however, ICICI Sapphiro Prepaid Forex Card does not have any reward structure.

Since it is a prepaid card, you need not satisfy any income-based criteria to be eligible for Sapphiro Prepaid Forex Card. You can apply for the card either online or you can simply walk into any of the ICICI Bank’s forex branches and submit your application offline. Read on to learn more about this premium forex card by ICICI Bank.

ICICI Bank Sapphiro Forex Prepaid Card

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ICICI Bank Sapphiro Forex Prepaid Card
  • Joining Fee₹2,999 + GST
  • Annual FeeNil
  • Best Suited ForTravel, International Spends
  • Reward TypeN/A

Rewards Rate

N/A

Welcome Benefits

Uber Vouchers Worth ₹1,000

Movie & Dining

N/A

Rewards Rate

N/A

Reward Redemption

N/A

Travel

N/A

Domestic Lounge Access

N/A

International Lounge Access

2 Complimentary Access Every Year With DreamFolks

Golf

N/A

Insurance Benefits

Comprehensive insurance policy including an air accident cover worth Rs. 10 lakh and a lost card liability cover worth Rs. 5 lakh

  • Spend-Based Waiver

    N/A

    Rewards Redemption Fee

    N/A

    Foreign Currency Markup

    Nil (no foreign currency mark-up fee and no-cross currency usage charges)

    Interest Rates

    N/A

    Fuel Surcharge Waiver

    N/A

    Cash Advance Charges

    USD 2 (or currency equivalent) on cash withdrawals from ATMs, 0.5% of the transaction amount on cash withdrawals from POS

    • Uber vouchers worth Rs. 1,000 as a welcome gift.
    • Complimentary DreamFolks membership with 2 international lounge access per annum.
    • Complimentary OneAssist complete card protection cover.
    • 5% cashback on online hotel/flight bookings (max cashback capped at Rs. 3,000 per month).
    • Comprehensive travel insurance including a personal air accident cover worth Rs. 10 lakh and many other travel-related insurance covers.
    • Free replacement card provided with the primary card in the welcome kit.
    • The card can be used for shopping at duty-free stores at airports within India.
    • Exciting deals around the world on stay, travel, dining and shopping.
    • Discounts on international roaming packs.
    • Complimentary lost card liability cover worth Rs. 5 lakh.

    ICICI Bank Sapphiro Forex Prepaid Card Welcome Benefits

    You get the following benefits complimentary at the time of card issuance-

    • Uber discount vouchers worth Rs. 1,000.

    Complimentary International Airport Lounge Access

    ICICI Sapphiro Forex Prepaid Card comes with two complimentary international airport lounge access for its users. DreamFolks provides airport lounge access, which can be availed through their app. DreamFolks has an annual membership fee of US $99, while the membership is complimentary for the Sapphiro Forex Prepaid cardholders, it allows two free visits to the international airport lounges. For any additional lounge access after the complimentary two have been exhausted, users will be charged US $27 per visit.

    Travel Benefits With ICICI Sapphiro Prepaid Forex Card

    Apart from complimentary airport lounge access, the card has other travel perks like

    • 5% discount on hotel and flight bookings with a monthly max cap of Rs. 3,000 on the cashback.
    • Discounts on international roaming packs.
    • No mark-up fee on cross-currency usage.

    Insurance Benefits

    You get a complimentary comprehensive insurance plan with the card. The following table summarizes that all the insurance covers that you get under this comprehensive plan-

    Insurance Type Covered Amount
    Personal Air Accident Cover – Death Only Rs. 10 lakh
    Checked-in Baggage Delay USD 300
    Loss of Travel Documents (Passport, Visa, Tickets) USD 500
    Missing of Connecting International Flight During Transit USD 300
    Plane Hijacking Up to USD 3,000
    Counterfeit Card Liability Rs. 5 lakh
    Lost Card liability Rs. 5 lakh

    Other Benefits

    • A free replacement card is provided in the welcome kit.
    • The card can be used for shopping at duty-free stores at international airports across India.

    ICICI Bank Sapphiro Forex Prepaid Card Charges

    • An initial fee of ₹2,999 (plus GST) is chargeable at the time of card issuance.
    • No foreign currency mark-up fee and no cross-currency usage charges.
    • A cash advance fee of USD 2 is applicable on cash withdrawals from ATMs. If you withdraw cash at POS, you have to pay a withdrawal fee of 0.5% of the withdrawn amount.

    Bottom Line

    Similar to most prepaid forex cards available in the market, the Sapphiro Forex Prepaid Card offers plenty of benefits, such as complimentary international lounge access, zero cross-currency markup, and discounted rates on hotels and flights, which are usually provided only by credit cards. Given the zero markup fee on cross-currency usage and all the other premium benefits that the card offers, it would be safe to conclude that the ICICI Sapphiro Forex Prepaid Card does justice to its high joining fee.

    FAQs:

    Yes, you get 2 complimentary international airport lounge access every year with ICICI Sapphiro Prepaid Forex Card.

    No, since it is a prepaid card, you need not satisfy any minimum income criteria to be eligible for ICICI Sapphiro Forex Prepaid Card.

    Yes, you can shop on all international e-commerce websites that accept Visa credit/debit cards with your Sapphiro Forex Prepaid Card.

    No, you can not shop at merchants registered in India with your ICICI Bank Sapphiro Forex Prepaid Card. However, you can shop at duty-free stores at international airports in India.

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