· Students can manage international expenses of their studies with just one card
· Parents can reload the card digitally from India
ICICI Bank today announced the launch of an enhanced version of its ‘ICICI Bank Student Travel Card’. The new multicurrency card offers enhanced benefits to the students worth up to Rs. 5,000 and is now available in 15 currencies. The card, previously available in five currencies namely USD, EURO, GBP, AUD and CAD, can also be availed in SGD, AED, CHF, JPY, SEK, ZAR, SAR, THB, NZD and HKD.
The card offers a convenient, safe and hassle-free way to manage education related expenses to students, who are going abroad for higher studies and their parents who will reload money digitally from India. While it helps the students to pay for expenses such as application fee, university admission fee, other course related fee, hostel fee and day-to-day living expenses, their parents can seamlessly and digitally reload the card from India. The card enables students to withdraw money from ATMs across the globe in the local currency.
Also, students get the added benefits of free comprehensive travel insurance, lost card liability insurance, Croma shopping voucher, 40% discount on excess courier baggage as well as 20% discount on overall courier service by DHL and a replacement card which can be activated instantly in the event of loss/damage of the primary card.
Speaking on the initiative, Mr. Sudipta Roy, Head – Unsecured Assets, ICICI Bank said, “ICICI Bank is pleased to offer a specialised and enhanced travel card for students who travel abroad to pursue higher studies. With a steady increase in the number of students heading abroad for higher studies, the student travel card has been equipped with added benefits and features. We believe that these enhanced features will comprehensively assist students and their parents in meeting their various payment needs. Also, this gives parents a convenient and hassle free way of sending money to their children for their expenses. This is in line with the Bank’s philosophy of providing innovative and relevant solutions for our customers.”
Key benefits offered by the ICICI Bank Student Travel Card:
· Available in 15 currencies
· 40% discount on excess courier baggage as well as 20% discount on overall courier service by DHL
· Croma shopping voucher
· Card Protection Plus insurance worth Rs 1,600
· Lost card/Counterfeit card liability coverage up to Rs 5,00,000
· Replacement card in the event of loss/damage of primary card
· International Student Identity Card (ISIC) membership. The ISIC card is the only internationally accepted proof of bona fide student status and offers exclusive discounts and offers at over 1,50,000 merchant outlets across over 130 countries
The card has a validity of five years and can be applied for using the Bank’s mobile banking platform, iMobile or from any foreign exchange- enabled ICICI Bank branch. Anyone, including non-customers of the Bank, can apply for this card.
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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at Rs.1,250,472 crore at June 30, 2019. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 15 countries, including India.
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 fi led 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 www.sec.gov