ICICI Bank has partnered with Visa to launch what the companies described as India’s first USD-denominated debit card issued through an International Financial Services Centre (IFSC) Banking Unit at GIFT City for non-resident Indian (NRI) customers.
The debit card is linked to ICICI Bank’s USD Global Savings Account offered through its IFSC Banking Unit at GIFT City. Built on Visa’s Infinite platform, the card enables customers to carry out transactions globally across ATMs, point-of-sale terminals, and e-commerce platforms using their USD balances.
According to the bank, the card offers zero foreign exchange markup on USD transactions conducted at PoS terminals and online merchants worldwide. The offering is aimed at simplifying cross-border banking and payment requirements for NRIs by providing direct access to US dollar savings.
ICICI Bank stated that the debit card comes equipped with EMV chip-enabled security features and allows customers to manage controls for ATM withdrawals, PoS usage, e-commerce transactions, and contactless payments through GIFT City NetBanking. Users can also customise daily transaction limits.
The card additionally offers access to Visa Infinite benefits, including travel, lifestyle, and merchant offers from participating global brands.
Commenting on the launch, Vipul Agarwal said the initiative reflects the bank’s focus on building global banking solutions for NRI customers while enabling seamless access to USD savings and reducing currency conversion-related costs.
Rishi Chhabra stated that the partnership is intended to address the growing cross-border financial needs of NRIs and strengthen globally connected payment experiences through GIFT City.
The bank added that both new and existing holders of its USD Global Savings Account are eligible for the debit card.
ICICI Bank currently offers a range of products through its IFSC Banking Unit at GIFT City, including multi-currency global savings accounts, fixed deposits, loans against deposits, and investment products tailored for NRI customers.
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