With the increase of Chinese residents’ business travel, tourism, overseas study and other outbound activities, the Global Travel Credit Card issued by ICBC for overseas consumption has seen rapid growth. So far, over one million cards have been issued, with the total consumption up to RMB 23.8 billion.

According to an ICBC official, the Global Travel Credit Card stands out from numerous financial products thanks to unique advantages in the following three aspects.

Firstly, the Global Travel Credit Card supports ten foreign currencies: US dollar, euro, Hong Kong dollar, pound sterling, Japanese yen, Singapore dollar, Canadian dollar, Australian dollar, Swiss franc and New Zealand dollar. The card also features “zero conversion fee”, allowing cardholders to be unconditionally and directly exempt from conversion fees for any currency at any place abroad. This preference alone, according to calculation, can save customers an average of 1.5% of the card usage cost.

Secondly, ICBC innovatively launched a 10 (industries) * 10 (enterprises or outbound destinations) preferential business and tourism services so that cardholders can enjoy globally preferential services in 10 industries including aviation, hotel, shopping and leisure, refund in cash, travel, overseas study, airport VIP, car rental, tax rebate, and rescue, with at least 10 well-known domestic and overseas enterprises for each industry to provide the preferences in more than 10 major target countries and territories. According to calculation, such preference can save additional 10% business travel cost for customers. Currently, the number of cooperative enterprises in the business district of ICBC Global Travel Credit Card has reached 76, with more than 100 cooperative brands.

Finally, the Global Travel Credit Card is easy in repayment. After consumption abroad, cardholders can either directly purchase foreign exchange with RMB for repayment, or repay the overdraft directly with foreign exchange, thus freed from the trouble of handling the remaining foreign exchange after returning home. ICBC also launched on the official website the theme page for Global Travel Credit Card, and through the mobile banking the dedicated app for cardholders to acquire information of products and preferential enterprises anytime and anywhere.