ICICI Bank, Visa launch USD-denominated debit card for NRI customers at GIFT City

ICICI Bank, Visa launch USD-denominated debit card for NRI customers at GIFT City


ICICI Bank has partnered with Visa to launch what the companies said is 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 (IBU) at GIFT City. Built on Visa’s Infinite platform, the card allows customers to make transactions globally at 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 carried out at PoS terminals and online merchants worldwide. The companies said the product is aimed at addressing cross-border banking and payment needs of NRIs by enabling direct access to US dollar savings.

ICICI Bank said the card comes with EMV chip-enabled security features and allows customers to manage usage controls for ATM withdrawals, PoS transactions, e-commerce payments and contactless payments through GIFT City NetBanking. Customers can also set daily transaction limits.

The card also provides access to Visa Infinite privileges, including travel, lifestyle and merchant offers from participating global brands.

Vipul Agarwal said the launch reflects the bank’s focus on developing global banking solutions for NRI customers and aims to provide seamless access to USD savings while reducing currency conversion-related costs.

Rishi Chhabra said the partnership is intended to support growing cross-border financial requirements of NRIs and strengthen globally connected payment experiences from GIFT City.

The bank said both new and existing holders of its USD Global Savings Account are eligible for the debit card.

ICICI Bank’s IFSC Banking Unit at GIFT City offers products including global savings accounts in multiple currencies, fixed deposits, loan against deposits and investment products for NRI customers.



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