ICICI Bank has partnered with Visa to launch India’s first USD-denominated debit card for Non-Resident Indian (NRI) customers through its IFSC Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City), introducing a new payment solution designed for international banking users. The card is linked to ICICI Bank’s USD Global Savings Account and is aimed at customers seeking seamless access to dollar-denominated savings for global spending.

The launch reflects a broader trend in the financial sector, where banks are increasingly developing products tailored to globally mobile customers. NRIs often face challenges such as foreign exchange conversion costs, multiple banking relationships across countries, and limitations while accessing overseas funds. ICICI Bank says the new offering is intended to reduce some of these friction points.

Built on Visa’s premium Infinite platform, the card allows users to directly access and spend US dollar balances held in their savings account. It can be used across international ATMs, point-of-sale (PoS) terminals, and e-commerce platforms globally.

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Features to consider

One of the key features of the card is the elimination of markup fees on US dollar transactions conducted at PoS terminals and online platforms. Traditionally, international card transactions often involve currency conversion charges and exchange-rate related costs, which can increase expenses for frequent travelers and overseas users.

According to ICICI Bank, the card enables direct usage of USD savings, reducing dependency on currency conversion mechanisms for eligible transactions. The product also supports multi-currency usability, allowing customers to make purchases across different geographies.

The offering could be particularly relevant for NRIs with recurring international expenses related to travel, education, lifestyle purchases, or overseas business activity.

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Security features

Security and transaction control have also been central to the card's design. The debit card is equipped with EMV chip-enabled technology that complies with regulatory standards. Customers can manage usage preferences through GIFT City NetBanking, including the ability to enable or disable ATM withdrawals, PoS transactions, e-commerce payments, and contactless features.

Users can additionally set daily transaction limits, allowing greater control over spending patterns and adding another layer of flexibility.

As digital transactions and cross-border payments continue to rise globally, financial institutions are increasingly incorporating customer-controlled security settings into premium card products.

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Premium benefits

Apart from payment functionality, the debit card also provides access to Visa Infinite privileges. These include travel-related benefits, curated lifestyle experiences, and exclusive offers from participating global brands.

Vipul Agarwal, Head – Cards and Payment Solutions at ICICI Bank, said rising global mobility among Indians has created demand for more integrated international banking experiences. He noted that the collaboration with Visa combines global acceptance with premium service capabilities.

Visa India Country Manager Rishi Chhabra said the launch supports the evolving financial needs of NRIs and aligns with India's broader ambition of developing globally connected financial infrastructure through GIFT City.

The launch also reinforces GIFT City’s growing role as a hub for offshore banking services and international financial innovation in India.

Published on: May 14, 2026 3:42 PM IST