ICICI Bank Coral Prepaid Forex Card

The ICICI Bank Coral Prepaid Forex Card is a specialized card provided by ICICI Bank, designed exclusively for foreign currency transactions. Being a prepaid card, it requires you to load it with any of the supported foreign currencies before it becomes usable for forex transactions. It’s important to mention that this card is not applicable for making purchases at online or offline stores within India. Nevertheless, it can be utilized at international online and offline vendors situated outside of India, as long as they accept Visa credit/debit cards. Additionally, you can use the card at duty-free shops located in international airports throughout India.

Key Highlights of ICICI Bank Coral Prepaid Forex Card

  1. Upon joining, you receive two vouchers: one for BookMyShow and another for Uber, each worth Rs. 500.
  2. You also enjoy complimentary OneAssist complete card protection.
  3. A comprehensive insurance plan is included, covering various scenarios like air accidents, card loss, baggage delay, and more.
  4. The card can be utilized for duty-free shopping at international airports throughout India.
  5. A welcome kit includes a free replacement card along with your primary card.

Features and Benefits of ICICI Bank Coral Prepaid Forex Card

The ICICI Bank Coral Prepaid Forex Card offers several features and benefits:

Welcome Benefits of ICICI Bank Coral Prepaid Forex Card:

  1. Rs. 500 BookMyShow voucher as a welcome benefit on a newly issued card.
  2. Rs. 500 Uber voucher as a joining benefit on card issuance.

Travel Benefits of ICICI Bank Coral Prepaid Forex Card:

  1. Comprehensive insurance plan with various travel-related insurance benefits, including:
  2. Rs. 10 lakh coverage for air accidents.
  3. USD 300 coverage for checked-in baggage delay.
  4. USD 500 coverage for loss of passport/tickets.
  5. USD 300 coverage for missing connecting international flights.
  6. Up to USD 3,000 coverage for plane hijacking.
  7. Emergency cash delivery and concierge service access during international travel.

Insurance Benefits of ICICI Bank Coral Prepaid Forex Card:

  1. Lost card liability cover.
  2. Covers against delay of checked-in baggage.
  3. Coverage for loss of passport/ticket.
  4. Protection for missing connecting international flights.
  5. Coverage for plane hijacking.
  6. Counterfeit card liability of Rs. 5 lakh.
  7. Lost card liability of Rs. 5 lakh.

Other Benefits of ICICI Bank Coral Prepaid Forex Card:

  1. Rs. 500 BookMyShow voucher as a welcome gift on card issuance.
  2. Exciting offers on travel, shopping, and dining while traveling overseas.
  3. Free replacement card provided in the welcome kit. The replacement card can be activated in case of primary card loss.

ICICI Bank Coral Prepaid Forex Card Fees and Charges

Explore the fee structure for the ICICI Bank Coral Prepaid Forex Card and discover the financial advantages that come with it.

  1. Initial Fee: Rs. 499 (plus GST) charged when the card is issued.
  2. Annual Membership Fee: Rs. 299 (plus GST) to be paid from the second year onwards.
  3. Foreign Currency Transactions: No foreign currency mark-up fee for transactions made in the card’s loaded currency.
  4. Cross-Currency Transactions: 3.5% fee on the transaction amount for transactions made in a different currency than the one loaded on the card.
  5. Cash Advance Fee:
  • USD 2 fee for cash withdrawals from ATMs.
  • 0.5% fee on the withdrawn amount for cash withdrawals from POS.

Eligibility Criteria for ICICI Bank Coral Prepaid Forex Card

Here are essential criteria for applying for an ICICI Bank Coral Prepaid Forex Card:

  1. Age Requirement: Typically, applicants should be at least 18 years old to apply for the card.
  2. Citizenship: The card may be available to Indian residents and non-resident Indians (NRIs).
  3. Documentation: You will likely need to provide valid identification documents such as a passport, Aadhaar card, or other KYC (Know Your Customer) documents as required by ICICI Bank.
  4. Forex Card Application: You may need to fill out an application form provided by ICICI Bank to apply for the Coral Prepaid Forex Card.
  5. Verification: ICICI Bank may conduct background checks and verify the information provided in your application.
  6. Funding: You may need to deposit the initial amount (Rs. 499 or as required) into your prepaid forex card account to activate it.

Please note that eligibility criteria can change, so it’s best to contact ICICI Bank directly or visit their official website to get the most up-to-date information regarding the eligibility requirements for the Coral Prepaid Forex Card.

Documents Required for ICICI Bank Coral Prepaid Forex Card

To apply for the ICICI Bank Coral Prepaid Forex Card, you will typically need to provide the following documents:

1. Proof of Identity:

  • Passport
  • Aadhaar card
  • Voter ID card
  • Driver’s license
  • PAN card
  • Any other government-issued photo ID

2. Proof of Address:

  • Passport
  • Aadhaar card
  • Voter ID card
  • Utility bill (electricity, water, gas, or landline telephone bill)
  • Bank account statement or passbook
  • Rental agreement (if applicable)
  • Any other document that serves as proof of your residential address

3. Visa and Travel Details (if applicable):

  • Visa documents (e.g., tourist visa, work visa) if you are traveling abroad.
  • Airline tickets or itinerary to confirm your travel plans.

4. Passport Size Photographs: Usually, two passport-sized photographs are required.
5. Application Form: You will need to fill out the application form provided by ICICI Bank for the prepaid forex card.
6. Additional Documents (if required): Depending on ICICI Bank’s policies and the specific type of prepaid forex card you are applying for, there may be additional documents requested.

How To Apply for ICICI Bank Coral Prepaid Forex Card?

Follow these steps to apply for the ICICI Bank Coral Prepaid Forex Card:

Online Application:

  1. Visit the ICICI Bank website.
  2. Navigate to the “Forex” or “Travel Cards” section.
  3. Select the Coral Prepaid Forex Card option.
  4. Fill out the online application form with your details, including KYC documents.
  5. Submit the application, and follow the bank’s instructions for document verification and card issuance.

Offline Application:

  1. Visit a nearby ICICI Bank branch or authorized forex outlet.
  2. Request an application form for the Coral Prepaid Forex Card.
  3. Complete the form with your personal details and attach the required KYC documents.
  4. Submit the application along with the necessary documents to the bank or outlet.
  5. Follow the bank’s instructions for further processing and card issuance.

Frequently Asked Questions (FAQs)

1. What is the ICICI Bank Coral Prepaid Forex Card?

The ICICI Bank Coral Prepaid Forex Card is a travel card designed for international travelers. It allows you to load multiple foreign currencies onto a single card, making it convenient for spending abroad.

2. How can I apply for the Coral Prepaid Forex Card?

You can apply for the Coral Prepaid Forex Card online through the ICICI Bank website or visit a branch or authorized forex outlet for an offline application.

3. What currencies can I load onto the card?

You can typically load several major foreign currencies onto the card, such as US Dollars, Euros, British Pounds, and more. Check with the bank for the current list of available currencies.

4. Is there an annual fee for the card?

Yes, there is typically an annual membership fee associated with the Coral Prepaid Forex Card. Refer to the bank’s terms and conditions for the specific fee amount.

5. How can I reload the card with more funds while traveling?

You can reload the card online through the ICICI Bank portal or visit an authorized outlet. You will need to provide the necessary KYC documents for reloading.

6. What are the advantages of using this card while traveling abroad?

Some advantages include competitive exchange rates, no foreign currency mark-up fee on transactions in the loaded currency, and the ability to lock in exchange rates.

7. Are there any transaction fees for using the card overseas?

There may be a cross-currency usage fee for transactions made in a currency other than the one loaded on the card. Check with the bank for the current fee structure.

8. How can I check the balance and transaction history of my Coral Prepaid Forex Card?

You can check your card balance and transaction history online through the ICICI Bank portal or contact their customer service.

9. What should I do if my card is lost or stolen while traveling?

Contact ICICI Bank’s customer service immediately to report the loss and request a replacement card or assistance with emergency funds.

10. Can I use the Coral Prepaid Forex Card for online purchases as well?

Yes, you can use the card for online transactions, including booking flights, hotels, and shopping, wherever Mastercard or Visa cards are accepted.