Visa Partners ICICI Bank for India’s First USD Debit Card

By Parth Prabhudesai

ICICI Bank, in partnership with Visa, has launched India’s first USD-denominated debit card from its IFSC Banking Unit (IBU) at GIFT City, aimed at providing Non-Resident Indians (NRIs) with easier access to global banking and payments solutions.

The debit card is linked to ICICI Bank’s USD Global Savings Account and is built on Visa’s premium Infinite platform. It enables customers to make transactions directly in US dollars across ATMs, point-of-sale terminals and e-commerce platforms worldwide, helping users avoid currency conversion charges on USD transactions.

The launch marks a significant step in expanding offshore banking solutions for NRIs while strengthening GIFT City’s position as an international financial hub.

Vipul Agarwal, Head – Cards and Payment Solutions at ICICI Bank, said, “ICICI Bank has consistently focused on creating innovative banking solutions that cater to the evolving global financial needs of NRIs. As global mobility increases, NRIs often face currency conversion costs and fragmented international banking experiences. This USD-denominated debit card represents an important step in providing customers with seamless access to their USD savings.”

Rishi Chhabra, Country Manager for India at Visa, added, “Visa is proud to partner with ICICI Bank to launch the first USD-denominated debit card issued from GIFT City’s IFSC. This solution enables Non-Resident Indians to access and spend their US Dollar savings globally with greater convenience, transparency, and control.”

The card offers global usability across ATMs, PoS terminals and online platforms, along with zero markup on USD transactions. Customers can also manage card controls through GIFT City NetBanking, including enabling or disabling ATM, contactless and e-commerce usage, as well as setting daily transaction limits.

In addition, the card provides Visa Infinite privileges, including travel and lifestyle benefits and exclusive offers from participating global brands.

The debit card is available to both new and existing holders of ICICI Bank’s USD Global Savings Account through its GIFT City banking unit.