India-based private sector lender HDFC Bank has launched a new co-branded prepaid card for students travelling abroad for studies or leisure.

Dubbed HDFC Bank ISIC (International Student Identity Card) Student ForexPlus Card, the new prepaid card will also serve as a valid global student ID.

The ISIC is the only internationally recognised and accepted identity card for students and endorsed by UNESCO, and offers benefits across over 125 countries at more than 150,000 benefit locations.

Using the new card, students can make all payments during their studies abroad in a convenient and secure manner. The students can load USD, GBP and EUR currency on the card as per their convenience.

The chip-based card ensures safety and security of transactions by students abroad. It can be also be used to withdraw money from ATMs.

Moreover, ISIC has partnered with various merchants & institutions to offer exclusive deals and offers to students holding this card.

Additional benefits available for the cardholders include: protection against foreign exchange fluctuation and complimentary enhanced Air Accident Insurance cover of INR2.5m ($39,022.).

HDFC Bank country head for card payment products, merchant acquiring services & marketing Parag Rao said: “At HDFC Bank, enhancing customer convenience lies at the heart of all our new initiatives. We are delighted to offer our co-branded HDFC Bank ISIC Student ForexPlus Card to students travelling abroad for studies.

“The prepaid card meets their evolving needs and gives them great value in the form of wider acceptance, discounts, and convenience of card payments.

“We are confident that our co-branded ForexPlus Card will be a valuable addition to our growing portfolio of products. In Punjab, through this card, we hope to cater to the needs of more than one lakh students who travel abroad for studies every year.”