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ack
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Visit our branches at:
92 – 94 Soho Road, Handsworth, Birmingham B21 9DP
2 - 4 Station Street - East, Coventry CV6 5FJ
291, High Street North, Manor Park, East Ham E12 6SL
29 College Road, Harrow, Middlesex HA1 1BA
293, Roundhay Road, Leeds, Yorkshire LS8 4HN
1 St. Michael’s Avenue, Leicester LE4 7AH
21 Knightsbridge, London SW1X 7LY
25/31 Cheetham Hill Road, Manchester M4 4FY
102, The Village, High Street, Slough SL1 1HP
45 South Road, Southall, Middlesex UB1 1SW
47 Ealing Road, Wembley HA0 4BA
08081 31 41 51 (freephone)
Calls are free from a UK landline but
charged from a mobile.
www.icicibank.co.uk
To learn more, contact us at:
Issued and Approved for the purpose of Section 21 of the Financial Services and Markets Act, 2000 by ICICI Bank
UK PLC (Company No. 04663024) having its registered office at One Thomas More Square, London E1W 1YN. ICICI
Bank UK PLC is authorised and regulated by the Financial Services Authority (registration number: 223268). It is
subject to the laws of England and Wales. ICICI Bank UK PLC is a 100% owned subsidiary of ICICI Bank Limited.
ICICI Bank Limited is regulated and authorised to take deposits in India by the Reserve Bank of India. Terms and
Conditions apply for all products and services.
All ICICI Bank logos and trademarks are the property of ICICI Bank Limited.
Ver 2.0 December 2011
Personal Banking
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These Terms and Conditions apply to the services and products
available to you, the customer by ICICI Bank UK PLC (we/ICICI
Bank). These Terms and Conditions should be read in conjunction
with the Debit Card Terms and Conditions, Internet Banking Terms
and Conditions, our Privacy Policy, Website Terms of Use, the
Terms on the Account opening form(s) and the Remittance Form.
These general Terms apply unless they are inconsistent with the
Terms that apply to specific products or Accounts. If there is any
inconsistency, the Terms relating to the specific products or
Accounts will take priority and apply. These are our standard
Terms and Conditions on the basis of which we provide our
products and services to you. For your own benefit and protection
you should read these Terms and Conditions carefully and retain a
copy in a safe place for future reference. If you do not understand
any of the Terms and Conditions, please contact us for further
information.
Additional or up-to-date copies of these Terms and Conditions are
available on request. These Terms and Conditions are also
available on our Website www.icicibank.co.uk and in our
Branches.
ICICI Bank UK PLC is authorised and regulated by the Financial
Services Authority (FSA Registration Number 223268). It is
subject to the laws of England and Wales. Its registered office is
One Thomas More Square, London E1W 1YN. We are an associate
member of the British Bankers' Association. We subscribe to the
Lending Code and we are a member of the Financial Services
Compensation Scheme established under the Financial Services
and Market Act 2000. Our VAT number is 820 4369 48.
ICICI Bank UK PLC is a 100% owned subsidiary of ICICI Bank Ltd.
And is regulated and authorised to take deposits in India by the
Reserve Bank of India.
A Introduction
Personal Banking
Definitions
In these Terms and Conditions:
“ATMs” mean automated teller machines/cash machines where
your card will be accepted, which may be operated by us or by
someone else.
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Personal Banking
Terms and Conditions
Sections
Section A – Introduction and Definitions
Section B – General Terms
Section C – Payment services
Section D – Channels of payments
Section E – Money Transfers to India
Section F – Product specific Terms and Conditions
Section G – Other Terms and Conditions
Page No
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44
“Branches” means Branches of ICICI Bank UK PLC in the
United Kingdom.
“Business day” means, in the United Kingdom, Monday to
Friday, except public holiday. Saturday is also treated as a
non-business day for payments , even though some of our
Branches are business on Saturdays.
“CHAPS“– means same day electronic transfer of funds
payments in GBP in the UK made through the Clearing
House Automated Payment System (CHAPS).
“Current Account” means a HomeVantage Current Account
and a HomeVantage Salary Account, unless these Terms and
Conditions distinguish between them.
“Debit Card payments“ means payments by Debit Card for
the purchase of goods or services (or both) either made in
person or remotely by telephone, Internet or mail order.
These are only available to Debit Card holders.
“Direct Debits“ means regular payments to a business or
other organisation from your Account, which may vary in
amount or date. Each individual payment is requested from
us by the business or organisation.
“GBP“, “Sterling“ and “£“ means the lawful currency for the
time being of the United Kingdom.
“Group“ means the ICICI Bank Ltd. group of companies,
which means our subsidiaries, our ultimate holding
company and its subsidiaries.
“Internal Transfers“ means payments made to any Account
within ICICI Bank UK PLC.
“Money Transfers to India“ means payments to India, which
are made using the money transfer services provided by us.
“Next business day payments” means GBP payments
directly to the Account of any person or organisation in the
UK, Channel Islands and Isle of Man, which will be received
by the payee Bank on the next business day.
“PIN“ means your Personal Identification Number. This is
unique to you and is needed to use cash machines or verify
purchase at retailers.
“Standing orders“ means regular payments you instruct us
to make of the same amount from your Account to an
identified recipient. A standing order continues until you tell
us to change or cancel it.
B General Terms
1. Opening an Account
2.1 Any one of you may give instructions on the Account,
including withdrawing the full balance, unless specified
otherwise.
2.2 Any one of you may request information or enquire about
any details on the Account.
2.3 Requests for additional Account opening in joint names
and closure of a joint Account will need to be made by all
joint Account holders.
2. Where you have a joint Account
“SWIFT Payments“ means payments from your GBP, USD
or EUR Accounts through any of our Branches.
"USD", "US Dollars" and "$" means the lawful currency for
the time being of the United States of America.
“Website” means our website www.iciciBank.co.uk.
“We”, “Us” and “Our” mean ICICI Bank UK PLC.
“You” and “Your” mean the customer who has an Account
with us. If you have a joint Account, references to “you”
include each of you together and separately unless
otherwise stated.
1.1 Accounts can be opened by:
• An individual aged 18 or over;
• Two individuals in their joint names. We may allow up
to a maximum of five individuals to open a joint
Account.
1.2 To open an Account with us you need to complete an
Account opening application form. You will be asked to
provide independent documentary evidence of your
identity and/or Current address for fraud prevention and
compliance with anti-money laundering regulations
purposes. The documents listed in the application forms
are not an exhaustive list. We may need you to provide
other documents and/or information. We are entitled to
decline to open an Account.
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3. Contacting each other
3.1 We may contact you by a variety of means including by
email, text message, post and/or telephone. If you change
your name, any contact details or any other information
relevant to your Account, you should tell us promptly
about those changes. We will contact you at the latest
address, telephone number or email address that you have
given to us.
3.2 We will not be responsible for any delays caused by postal
authorities.
3.3 You can contact us by calling on 08081 31 41 51 (freephone
from UK landlines). You may be charged for the call by your
service provider if it is made from your mobile or from
ou ts ide the UK. You ma y al so ema il us at
[email protected] or write to us at ICICI Bank UK
nd
PLC, 2 Floor, One Thomas More Square, London, E1W
1YN.
3.4 So that we may act on your instructions by telephone we
will ask you to sign a telecommunications authorisation
form.
3.5 Where you have a joint Account then, unless you request
otherwise, we will contact only the joint Account holder
named first in our records. The first named Account holder
is responsible for passing information we send to the other
Account holders.
3.6 If any communication or Account information sent to you
is returned to us as undelivered, we will try to contact you
by telephone to establish the reason for the return. If we are
unable to contact you then, for the safety of your Account,
we would block all further transactions unless we hear
from you.
2.4 Debit Card and Internet Banking services are offered to
each joint Account holder separately and any instructions
relating to these services must be made by the relevant
joint Account holder. For example, we will not accept a
request to re-issue a Debit Card to a secondary Account
holder if made by the primary Account holder. The
secondary Account holder will be required to make the
request himself/herself through any available channel.
2.5 Similarly, a communication address need only be provided
by the relevant joint Account holder.
2.6 All of you are jointly and severally liable for the Account or
any money owned to us. This means we have the right to
ask all or any one of you to repay the full amount owed to
us. This applies even if your relationship breaks down or, if
applicable, you divorce.
2.7 If any such difficulties arise between you, one or both of
you should contact us in writing and notify us that the
relationship has broken down or of the divorce. On receipt
of such notice we will only accept instructions which have
been authorised by all the joint holders. We will not be
responsible for any transactions made or instructions
given by either of you prior to receipt of such notice, and
until we have been able to obtain your joint instructions
regarding the operation of your Account.
2.8 If both of you agree in writing, a joint Account can be
transferred into the name of just one of you.
2.9 If your relationship ends or you divorce, your Account will
continue to operate as normal unless you notify us in
writing. You can also request us to close the Account or for
one or more Account holder's name to be removed from
the Account.
2.10 There may be instances when your Account may be
blocked. This may happen, for example, in the
circumstances mentioned in condition 2.7 above or if
either of the Account holders becomes bankrupt.
2.11 We may disclose to any of you any information we hold
about the Account(s), including information contained in
old statements. This means that where a sole Account is
converted into a joint Account, information relating to the
Account when it was a sole Account may be made
available to any of the joint Account holders.
2.12 Internet Banking services may be used for your joint
Account and we will provide you with separate Terms and
Conditions for this. We will follow any instructions given
by any one of you to us in relation to your joint Account
using these services.
2.13 If any one of you dies, the Account will be operated by the
survivor(s).
4. Authorising others to
operate your Accounts
4.1 You can authorise another person to operate your
Account(s) by a power of attorney, but you should take
legal advice before doing so. If you authorise another
person to operate your Account then you will be
responsible for their actions or omissions as if they were
your own.
4.2 In certain circumstances, the law may require us to allow
someone else to operate your Account (for example, if you
become Bankrupt, or in the event of your death). In such
circumstances, any power of attorney you have given
earlier may become ineffective.
4.3 For security reasons, we may not allow a person who is
operating your Account, for you to access some services.
Where we make these services available, that person may
use your security details. We will not treat this as you
breaking your security obligations because that the person
knows your security details.
5. Changing your Account
5.1 If you are unhappy about your choice of Account, you can
cancel it within 14 days of:
• The day the contract is entered into; or
• The day on which you receive the contract Terms
and Conditions and other information on paper or
electronically.
5.2 We will help you switch to another Account with us and
give you your money back with any interest it has earned.
We will ignore any notice period and any extra charges.
This does not apply to SuperSaver Bond and Fixed Deposit
Accounts.
5.3 If you decide to move your Account to any other financial
institution, we will give them information on your standing
orders and direct debits within three Business days of
receiving their request. We will close or move your Current
Account without charge, when you ask us to do so.
However, we may retain any credit balance until you have
repaid any money you owe us.
5.4 We will refund any Bank charges you have to pay as a result
of any error or unnecessary delay by us when you transfer
your Current Account to or from us.
6.1 If you have not made any transactions on your Current
Account for a consecutive period of 18 months, or on your
savings Account for a consecutive period of 60 months ,
we will make your Account dormant to protect against
fraud. We will inform you at least three months before
making your Account dormant.
6.2 The following transactions will not be allowed on a
dormant Account:
• Cash and cheque deposits into the Account;
• Cash and cheque withdrawals from the Account;
• Renewal of a Debit Card;
• Issue of a cheque book;
• Change of address and contact details;
• Transactions through Internet Banking;
• Password reissuance
• Operation on the linked Account
• Fund transfers by standing order, direct debit,
Internet Banking or manual instruction;
• Inward and outward remittance by CHAPS, SWIFT
and next business day payments;
• Opening another Account;
• Setting up standing orders;
• Adding a joint Account holder to an existing
Account.
6.3 No Account statements will be sent for a dormant Account.
6.4 To activate a dormant Account, you will need to visit any of
our Branches and provide us with proof of your identity
and Current address. You can also send certified true
copies of these documents to us at ICICI Bank UK PLC, PO
Box 905, Wembley HA0 9DX. Please call us at 08081 31 41
6. Dormant Accounts
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Liability for Unauthorised
Transactions
Liability for Unauthorised
Transactions
Liability for Unauthorised
Transactions
Liability for Unauthorised
Transactions
You will need to provide us with proof of your identity and
address. We are required by law to check and verify your identity.
We may do this electronically, using a reference agency, or ask
you for documentary evidence. We will check your identity when
you apply to open an Account with us and may also do so at any
time while you hold an Account with us or we provide you with
services. We may delay or decline to process your application
until we have received satisfactory evidence of your identity.
7. Money laundering regulations
8. Important security information
8.1 You must take all reasonable precautions to keep safe and
prevent the fraudulent use of your cards and security
details (including PINs, security numbers, passwords or
other details such as those which allow you to use Internet
Banking and telephone Banking). These precautions
include the following:
• Always learn the PIN or other security details we may
send you and immediately destroy the slip giving
you the information;
• Never allow anyone else to use your card, PIN or
other security details. If you do, you will be
responsible for the money taken from your Account;
• Do not keep a note of your PIN or security details
where anyone else might recognise it, for example
by writing your PIN and/or security details on or
keeping them with your card or other Bank
documents. If you think someone else knows your
PIN, password or other security details please
contact us immediately;
51 (freephone from UK landlines) or visit any of our
Branches for further details of the process for activating a
dormant Account.
6.5 Your money in a dormant Account will always be your
property no matter how many years pass. If you die it will
become part of your estate. If the Account remains
dormant with no customer initiated activity for 15 years, it
may be governed by the provisions of Dormant Bank and
Building Society Accounts Act 2008. If you ask us, we will
tell you how to access your dormant Account.
• Do not choose security details which are easy to
memorise such as sequences of letters, or numbers
which may be easy to guess, for example your date
of birth;
• Take care to ensure that no one hears or sees your
security details when you use them;
• Keep card receipts and other information about your
Account containing personal details (such as
statements) safe and dispose of them safely. You
should take simple precautions such as shredding
paper containing such information.
8.2 If any card, cheque book or Internet Banking related
security details are lost or stolen, or you suspect that
someone has used or tried to use them, you must tell us
without delay by calling us on 08081 31 41 51 (freephone
from UK landlines). To help us continually improve our
services, in the interests of security and to comply with our
regulatory obligations, we may monitor and/or record your
telephone calls with us.
8.3 If asked, you must confirm in writing the loss or theft of
your cards or security details. If you no longer require your
card and/or any unused cheques, then you must return
them to us at ICICI Bank UK PLC, PO Box 905, Wembley
HA0 9DX, or you should destroy it. Cards should be cut
diagonally across the magnetic stripe into at least four
pieces to destroy them.
8.4 We may ask you to co-operate with us and the police in
relation to any investigation into the actual or suspected
misuse of your card and/or Accounts. We recommend that
you report any unauthorised transactions to the police
within seven days. We may also disclose information about
you or your Account to the police or other third parties if
we think it will help prevent or recover losses.
8.5 If you find your card after having reported it lost, you must
not use it again. You must cut the card diagonally across
the magnetic strip into at least four pieces to destroy it.
8.6 Cards and PINs
• Sign each card on the signature strip as soon as you
receive it;
• Never disclose the PIN or card security codes except
when using the cards to make payments;
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•
when paying for goods and services over the
telephone or through the internet.
8.7 Telephone Banking
• When you call us, we will confirm your identity using
our security procedures. We may not be able to
assist you if we are unable to identify you as our
customer. This is to protect the security of
your Account.
• When we call you, we will never ask for details of
your password or PIN to identify you as our
customer. We will ask you questions based on
information known to us about you and the
transactions on your Account.
• If you are using your mobile phone for online payee
registration, we recommend you delete the
information as soon as the service has been
performed.
8.8 Personal Internet Banking
• Keep your personal computer secure by using up-to-
date and functioning anti-virus spyware software
and a personal firewall on any computer you use for
Internet Banking.
• Never disclose your online password. We will never
ask you for your password.
• Always access Internet Banking by typing in the Bank
address to your web browser. Do not go to an
Internet Banking site from a link in an email and then
enter personal details.
Do not disclose your PIN for mail order payments or
C. Payment services
1. Different types of payments you can make
• Internal transfers
• Next business day payments
• CHAPS
• SWIFT payments
• Money Transfers to India
• Standing orders
• Direct debits
• Debit Card payments
Please refer to the Definitions in Section A of these Terms and
Conditions for an explanation of these different kinds of payment.
2. Requirements for making a payment
When making a payment, you must ensure there is sufficient
available balance in your Account and you must provide us with
correct and complete details. If you do not do so, we will not be
liable for failing to make a payment or for making an incorrect
payment, but we will make reasonable efforts to recover your
funds (although we may charge you for this). Payments are made
on the basis of sort code and Account number of an Account and
not the name of the Account holder.
3. Payments that involve a foreign
currency exchange (SWIFT payments)
3.1 You can make payments from your GBP, USD or EUR
Accounts, through any of our Branches. If you make a
payment in a currency other than the currency of your
Account, we will use the prevailing exchange rate as
applicable at the time of conversion. If you would like to
know the exchange rate used, please contact us at any of
our Branches.
3.2 If a payment made in another currency is returned, we will
convert the amount back to the original currency at the
exchange rate prevailing on the date of return of funds.
3.3 The charges incurred will be shared between you and the
beneficiary. This means that charges made by our
correspondent/intermediary Bank will be charged to you
and charges made by the intermediary/correspondent
Bank of the beneficiary's Bank will be incurred by the
beneficiary. In the case of cross currency transactions
(other than from GBP to INR), you may choose between
OUR charges (all correspondent/intermediary Bank
transaction charges are to be met by you), BEN charges (all
correspondent/intermediary Bank transaction charges are
to be met by the beneficiary) or SHA charges (transaction
charges made by our correspondent/intermediary Bank
will be met by you and charges made by the beneficiary
Bank's intermediary/correspondent charges will be met by
the beneficiary). In the absence of any instructions, the
charges incurred will be SHA (Shared).
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4.1 To set up a direct debit you must complete and submit a
direct debit instruction form to the recipient
4.2 The recipient of the direct debit will lodge the direct debit
instruction electronically onto your Account but may
occasionally send the original direct debit instruction you
completed to us. When each payment request is received
by us, we will check if the reference for that payment
matches the reference on the direct debit instruction. Only
then will we make the payment from your Account.
4.3 You can withdraw your agreement for direct debit
payments to be made at any time by telling us via any
Branch, calling our Customer Service Centre or Internet
Banking by 12 noon on the business day before that
payment is due to be made by us. You should also inform
the recipient that you have cancelled the direct debit.
4.4 All direct debits received will be processed by us within 24
hours of receiving the request from the recipient or the
recipient's Bank.
4.5 If you think there has been an incorrect direct debit
payment in GBP, you should tell us immediately so that we
can arrange a full and immediate refund. You should do
this even if the original error was made by the business or
organisation that sets the direct debit up. You should also
contact them to let them know what you have done and
why.
4. Direct debits
5. Debit card payments
5.1 You can pay for goods and services using your Debit Card
in the UK and abroad at retailers who display a VISA logo.
5.2 Before we take a payment from your Account, we will
require you to enter details of your PIN into a keypad or to
provide a signature when you make a purchase or make a
cash withdrawal from an ATM. For online, telephone or
mail order transactions we will also require certain
personal details and the three digit card security number
on the back of your card. We will advise the retailer or other
supplier if we are prepared to authorise the payment to be
made from your Account. To help us make a decision and
to prevent misuse of your Debit Card we may refer an
authorisation request back to the retailer for further
information. This may result in you being asked to produce
further identification.
5.3 We will not be responsible if a retailer or other supplier
refuses to accept your Debit Card or if you cannot use your
Debit Card to make a payment.
5.4 We will normally deduct from your Account the amount of
a Debit Card payment made on the same day that we
receive the request from the retailer. We will make the
payment to the retailer on the same day or the day we
receive the payment request from VISA.
5.5 We cannot cancel a payment made using a card once you
have given your consent to make the payment to a retailer.
You will need to contact the retailer separately. This
includes payments made on a regular basis from your card
Account, such as magazine subscriptions. You will also
need to tell the retailer if your Account is closed or your
card number changes; otherwise they may not be able to
collect your payments.
5.6 If a retailer agrees to give a refund for a purchase made
using a card payment, we will make the refund when we
receive details of it from the retailer.
5.7 We will normally refund any amount which has been
debited incorrectly and not claimed by the retailer within
30 days of the actual debit.
6. Cash withdrawals
6.1 You can withdraw cash from your Account over a Branch
counter or from an ATM that allows cash withdrawals and
has a VISA logo. There is a limit on the amount you can
withdraw each day from an ATM. This limit is mentioned in
the Debit Card Terms and Conditions.
6.2 Cash withdrawals from an ATM will be deducted from your
Account on the same day. For cash withdrawals at an ATM
outside the UK, the amount of any cash withdrawal made
in a currency other than GBP will be converted into GBP.
See the Rates and Charges leaflet for charges that will
apply.
6.3 For withdrawals over the counter at Branches, you must
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7.1 You can pay in cash at any of our Branches. You must
complete a paying-in slip to do this. Counterfeit currency
may be confiscated. You must not send cash to us by post.
7.2 If you pay cash at one of our Branches it will be added to
your Account and treated as available immediately. It will
be treated as cleared for interest calculation purposes on
the same day.
7.3 If you use one paying-in slip to pay a mixture of cash and
cheques into your Account over the counter at one of our
Branches, the cash will be credited to your Account and
will be available for you to withdraw and will start earning
interest (if applicable) from the same day. Please see clause
8 below for the treatment of cheques.
7.4 Other Banks may allow you to pay in cash to your Account
through their Branches. The credit will appear in the
balance of your Account three business days later. The
cash is treated as cleared for interest calculation purposes
(if applicable) two business days after it has been paid in at
the other Bank.
7.5. You will need to provide proof of funds if you wish to
deposit cash of over £2000 into the Account. However this
limit is indicative and the Bank may ask for proof of funds in
the case of cash deposits below £2000. The proof may be
an ATM slip or a Bank Account statement showing
withdrawal of funds. The ATM slip should not be more than
seven days old.
7. Cash payments into your Account
provide a proof of identity acceptable to us, and the cheque
book or withdrawal book for the Account. There is a limit of
£2000 on cash withdrawals from Branches by a single
withdrawal. If you wish to withdraw £2000 or more you will
need to contact your nearest Branch in advance.
6.4 We will deduct cash withdrawals made over the counter at
any of our Branches from your Account immediately. You
cannot use your Debit Card for withdrawals over our
counters.
8. Cheques you issue from your Account
8.1 When you write a cheque you must take all reasonable
precautions to prevent anyone else altering it or making a
forgery.
This includes (but is not limited to):
• Using black ink which cannot be erased;
• Never leaving a gap between words or figures;
• never signing a cheque before you use it;
• You should draw a line through the unused space on
the cheque so that it will prevent unauthorised
people adding extra numbers and names;
• You must sign all alterations to cheques you issue.
8.2 When you write a cheque you must clearly write the name
of the payee and you should also put some additional
information, as this will help us to prevent fraud. If you are
paying the cheque to a large organisation, financial
institution, Bank or building society you may add further
details on the payee line (e.g. Inland Revenue re. XYZ).
8.3 You can write cheques only in the currency of your
Account.
8.4 You should not issue a future dated cheque. If you do so
and the cheque is presented to us before that date, we will
not pay it.
8.5 If we receive a cheque issued by you that is more than six
months old we may decline to pay it.
8.6 We may decide not to pay a cheque if:
• There is not enough money in your Account; or
• The cheque has a technical irregularity (for example
there is a difference between the amount in words
and figures, or the signature is different to that held in
our records); or
• We have reasonable grounds to suspect fraudulent
activity.
8.7 You must tell us as soon as possible if you become aware
that any cheque has been lost or stolen.
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9. Standing Orders
9.1 On the day specified in the standing order, we will debit
your Account. It will take one business day for the
beneficiary bank to receive money. If the day specified in
the standing order falls on a non-business day, we will
consider it to be specified for next business day. The
payee's Bank will then receive money in two business
days.
9.2 If the standing order is not processed on the due date due
to reasons such as there being an insufficient balance in
your Account, we will not attempt to process the same
instruction again. If you do wish to make the payment, you
will need to contact us and provide separate instructions.
We will continue to process all future standing instructions
on their scheduled dates.
9.3 You can instruct us to stop or cancel a standing order by
telling us at any Branch, by Telephone Banking or by
Internet Banking if:
8.8 If you issue a cheque and it is deposited outside the UK, we
will deduct charges which we incur for transferring the
money to the beneficiary. These charges may include
SWIFT or foreign currency demand draft charges and
postal charges.
8.9 If you ask us to “stop” a cheque we will do so, provided:
• The cheque has not been paid already;
• We receive the request to stop it before 11 am on the
day the cheque is presented for payment; and
• You have provided sufficient details for us to identify
the transaction for example cheque number.
8.10 When you issue a cheque from your Account, the amount
will be deducted from your Account two business days
after the beneficiary deposits the cheque into their
Account. For example a cheque paid in on a Monday will be
deducted from your Account on Wednesday. More time
may be needed for a cheque paid into a building society
Account or any Bank outside England or Wales or any
Account held at a non-clearing Bank.
• The amount has not already been taken out of your
Account; or
• We have not told the person to whom it is payable or
their Bank that it will be paid; or
• You instruct us before 12 noon of the business day
before which the payment is due.
9.4 If you wish to cancel a standing order which has been set
up using the Internet Banking facility, we recommend you
cancel the standing order using Internet Banking. If you
wish to cancel the instruction by visiting our Branch, you
may need to tell the Branch staff that the standing order
was originally set up online.
9.5 If you set up a standing order by visiting a Branch, you can
cancel it at the Branch or using the telephone Banking
service.
10. Payments into your Account
10.1 We will credit to your Account cash and cheques that are
payable to you. In the case of a joint Account, we will
accept a cheque made payable to any one of you.
However, cheques made payable to joint names cannot be
credited to an Account in a sole name.
10.2 All UK electronic payments received between 9:00 am and
3.30 pm on a business day, will be credited into your
Account within two hours of receipt of funds by the Bank.
10.3 All UK electronic payments received after 3:30 pm on a
business day or anytime on a non-business day, will be
credited into your Account by 11:00 am on next
business day.
10.4 If you receive a payment in a currency other than the
currency of your Account, we will use our prevailing
exchange rate as applicable at the time of conversion. If
you would like to know the exchange rate used, please call
us on 08081 31 41 51 (freephone from UK landlines).
10.5 We can only accept responsibility for payments into your
Account after we have received and checked them.
10.6 Payment instructions received from the payer's bank may
be rejected by us if your Account is dormant or frozen. The
instruction will then be returned to the payer's bank within
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21
one business day, and funds will be credited into the
payer's account depending upon the clearing scheme
supported by the payer's bank.
10.7 If a payment is fraudulently or mistakenly paid into your
Account or if a rejection is received from the payer’s bank
for a previously received payment instruction, the amount
of the payment may subsequently be deducted. This may
happen even if the funds are included in the balance of
your Account, you have used them to make a payment, or
have transferred or withdrawn all or part of them. If the
deduction of the payment from your Account makes your
Account overdrawn, we will treat this as an unauthorised
overdraft. If we do so, we will apply interest and charges as
mentioned in our Rates and Charges leaflet for the
unauthorised overdraft.
10.8 Clearing cheques
10.8.1 The “clearing cycle“ is the time taken for money paid into
your Account to be added. All cheques deposited in our UK
Branches by 2 pm (the “cut off time“ will be processed the
same day. All cheques deposited after the cut off time will
be processed on the next business day and for the periods
mentioned below will be treated as being received on the
next business day. When you pay a GBP cheque from
another Bank in the UK into your Account with us:
(i) We will deposit the cheque in your Account on the
same day if we receive it before the cut off time;
(ii) We will start paying interest (if any) on the cheque
from the second business day after we receive it;
(iii) The funds will be available for you to use from the
fourth business day after we receive the cheque, but
the cheque may still be returned unpaid up until the
sixth business day after we receive it; and
(iv) From the end of the sixth business day after we
receive it, if the cheque is returned unpaid by the
paying Bank, we cannot take money from your
Account without your consent unless you have acted
fraudulently.
So, for example, if you pay in a non - ICICI Bank UK PLC
cheque on a Monday, it will start earning interest on
Wednesday, you can use the money on Friday and we
cannot take the payment out of your Account after the
following Tuesday (unless you have acted fraudulently).
If the Bank, building society or other organisation that the
cheque was drawn on decides not to honour it, they will
normally explain the reason for non-payment. We will
deduct the amount of the cheque from your balance no
later than the end of the sixth business day after it was
added to your balance. In all circumstances, you will be the
owner of the funds on the sixth business day after the
deposit of the cheque, and the amount of your cheque
cannot then be debited from your balance without your
consent unless you were knowingly involved in a fraud
concerning the cheque.
10.8.2 If cheques are deposited with Giro Slips at any non- ICICI
Bank UK PLC Branch, you will earn interest from the
second business day, but you will only be able to withdraw
funds from the sixth business day.
10.8.3 If an amount is credited to your Account in error, we will
earmark the relevant funds and notify you. The amount will
be debited from your Account after that notification.
10.8.4 If a cheque is returned unpaid by the paying Bank before
the end of the sixth business day from the day it is paid in,
we can take the money back out of your Account, even if
you have already spent it or it puts you into an
unauthorized overdraft. If this happens, we will let you
know. We will apply interest and charges as mentioned in
our Rates and Charges leaflet.
10.9 Foreign cheques
10.9.1 Foreign cheques mean cheques in a foreign currency or
cheques in GBP paid out of an Account at a Bank outside
the UK.
10.9.2 We will take our charges for dealing with foreign cheques,
and any charges by the foreign Bank and our agent
(including any charges resulting from the foreign Bank
returning the cheque unpaid or asking for the money to be
returned) from the Account you told us to pay the cheque
into.
10.9.3 Occasionally it is not possible to obtain payment of foreign
cheques because of local foreign exchange or other
restrictions.
11.1 All UK GBP electronic payment requests placed at any of
our Branches or online before 1:00 pm on a business day
will be debited from your Account on same day and the
payee's bank will receive funds on the next business day.
11.2 All UK GBP electronic payment requests placed at any of
our Branches or online after 1:00 pm on a business day and
anytime on a non-business day will be debited from your
Account on next business day and the payee's bank will
receive funds on the second business day.
11. Next business day payments
from your Account
Time of placing
payment request
at Branch/ online
Debit in
your Account
Transfer of funds
to beneficiary
bank
Monday to Friday –
before 1.00 PM
Same day
Next business
day
Next business
day
Non-Business
days (including
Saturday)
Second business
day
Monday to Friday –
after 1.00 PM
Next business
day
Second business
day
11.3 If payments from your Account are rejected by the payee's
bank, we will credit your Account within two hours upon
receipt of funds.
D. Channels of payments
1 Personal Internet Banking
You can make some payments like UK GBP electronic payments,
internal transfers and standing orders through Internet Banking by
logging in to your Account using your user ID and password.
Please also refer to our Internet Banking Terms and Conditions .
Our Internet Banking service is a simple, safe and convenient way
to access and manage your Accounts online. To ensure that stay
safe online we recommend the following steps to protect you and
your computer:
• Never disclose your Internet Banking password to
anyone. Remember that we will never ask you for
your passwords;
• Never respond to any email that asks for confidential
or personal security information. We will never send
you such an email;
• Ensure that there is up-to-date and functioning anti-
virus and firewall software on any computer you use
for online Banking;
• When shopping online, only make a payment via
secure websites;
• If possible, avoid disclosing sensitive Account
information when using computers in public
places/Internet cafes. If this is not possible, take extra
precautions;
• Ensure you log off your secure personal Account
before leaving any computer.
Please be aware that if you intentionally pass on your
security details to any person you will be in breach of your
Terms and may be liable for any unauthorised transactions
that occur on your Account as a result.
2. Telephone Banking Services
2.1 You can use telephone Banking for Accounts held solely or
jointly by you.
2.2 Telephone Banking is available, provided that your identity
can be verified by speaking to a customer services officer
and completing security procedures.
2.3 To use telephone Banking, call us on 08081 31 41 51
(freephone from UK landlines). To help us continually
improve our services and in the interests of security, we
may monitor and/or record your telephone calls with us.
2.4 Our telephone Banking service enables you to:
• Obtain your balance;
• Obtain details of recent transactions;
• Speak with a Customer Service Officer in relation to
other enquiries.
2.5 You cannot make fund transfers from your Account except
for money transfers to India. Money transfers to India may
be made through the telephone Banking service only if you
have a valid Debit Card.
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23
24
25
3. Debit Cards
2.6 Telephone Banking may be temporarily unavailable if we
have to carry out routine maintenance. We will try to inform
you in advance but it may not always be possible to do so.
2.7 Security procedure for Telephone Banking - When you call
the telephone Banking service, we will verify your identity
by asking you a number of questions based on information
known to us about you and the transactions on your
Account. On correct confirmation of this information we
will act on your instructions. We advise you to keep your
personal information safe and not to disclose it to third
parties, as doing so could endanger the security of your
Account. You must inform us without undue delay if you
become aware of the loss or theft of such information.
2.8 On satisfactory completion of the security procedures we
will act on instructions given by you, including payment of
money from your Account.
2.9 We may refuse to carry out any instructions if they are
above a particular value, or if we believe there is a
suspected breach of security. We will tell you about this.
2.10. We may terminate or suspend the telephone Banking
service at any time. We will tell you about it at least two
months in advance. We may not be able to provide you
with this advance notice if we discontinue this service to
protect the security of your Account.
3.1 A Debit Card is a card which displays the VISA debit logo
which you can use to make purchases from retailers or
suppliers of services and which also allows cash machine
access to your Account.
3.2 Issuing a card and Personal Identification Number (“PIN“)
3.2.1 When you apply for an Account with us, you will receive a
Debit Card to access and operate your Account. The PIN
which is to be used with your card will be send to you
separately. We will not reveal your PIN to anyone else. The
details of charges for your Debit Card are provided to you
in the Rates and Charges leaflet.
3.2.2 The card will be valid for an initial period of four years after
which a new card will be issued. The card will be valid until
the last business day on the month indicated on the card. If
the card is lost or destroyed within the four year period
specified, the card will be replaced.
3.2.3 You will receive our Debit Card Terms and Conditions with
your card. The Rates and Charges leaflet provides you the
details on applicable charges for using the Debit Card.
3.2.4 If your Account is in joint name, these Terms apply to each
cardholder.
E. Money Transfers to India
1. Money Transfers to India Definitions
1.1 In this section, the following words and phrases will have
the meanings as assigned below:
• "Account" means the Home Vantage Current Bank
Account You hold with us.
• "Adequate Balance" means the amount of funds
which must be available in your Account in order to
make the Transfer of funds requested and for us to
debit the Charges payable for the Service.
• "Beneficiary" means a person to whom You would
like to Transfer funds using the Service.
• "Beneficiary Bank" means the bank in India with
which the Registered Beneficiary holds an account.
· • "Business day" means a day (other than a Saturday
and Sunday) on which banks are open for general
business in the United Kingdom, United States of
America and India.
• "Charges" means the charges made by us for use of
the Service by You.
• “Chip and PIN Debit Card” in relation to a money
Transfer using a Debit Card means a Debit Card that
has a built-in electronic chip and with which a
transaction can only be authenticated using a PIN.
• "Future Dated Transfer" means a request placed in
advance, to be processed on the Business Day on
which You have instructed us to process the
transaction. The Transfer will be processed by the
close of business on that Business Day.
• "Pay now requests" means requests which will be
processed as soon as the transaction details are
confirmed by You online.
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• "Rate Block" means the minimum rate at which You
wish to Transfer money to India. If this is specified
we will ensure your money is sent only at that rate or
at a higher rate.
• "Registered Beneficiary" means a person who has
been registered by You with us and nominated by
You to receive payments through the Service.
• "Remittance ID" means a remittance identification
number.
• "Service" in the context of money Transfer, means the
money Transfer service to India (in INR) offered by us
to You by which money may be sent to a Registered
Beneficiary.
• "Service Assurance" means the payment that we
provide if the Transfer does not get completed or
made within the Transfer Time chosen by us as
provided in clause 1.5.5, subject to the conditions
provided in clause1.5.
• “Standing Instruction” means an order You give us
to Transfer a set amount at regular intervals.
• "Transaction Reference" means an identification
number which will be issued and displayed to You
upon confirmation of instructions to Transfer funds
and through which You can track the status of the
Transfer.
• “Transaction Receipt” in relation to money Transfer
using a Debit Card means the printed electronic
receipt containing the date and amount of the
transaction, a transaction identification number and
a merchant identification number generated by the
relevant point of sale terminal.
• “Transaction ID" in relation to money Transfer using
a Debit Card means a unique number with which
details of transaction can be identified.
• "Transfer" means the payment of funds authorised
by You through the Service to be processed and
delivered to the Registered Beneficiary.
• "Transfer Time" means the number of Business days
taken to Transfer funds to be credited to the
Registered Beneficiary's account with the
Beneficiary Bank.
• "Website" means our website www.icicibank.co.uk.
• "You" in the context of money Transfer means a
person who holds a Home Vantage Current Account
with us and uses the Service.
1.2 Use of the Service
You may use the Service to make a Transfer to India in the
following ways:
(a) Visit one of our Branches.
(b) Money Transfers through phone: You may use this
facility by calling us 24x7 on 08081 31 41 51
(freephone from UK landlines).
(c) Through Internet Banking.
(d) Transfer funds by Debit Card using any non ICICI
Bank UK PLC, GBP chip and pin Debit Card.
1.3 Registration for using the Service
You may register to use the Service in the following ways:
1. By visiting the Branch and through a Debit Card: You
will need to complete the designated remittance
form at any of the Bank's Branch. Once we process
your registration request successfully, we will
provide You with a Remittance ID confirming your
status as a user of the Service.
2. Te l e p h o n e : Yo u w i l l n e e d t o s i g n t h e
telecommunications mandate and accept and agree
to its Terms and Conditions and also those specified
in section D of these Terms and Conditions on the use
of the telephone Banking service. You may not
register a Beneficiary by telephone except for your
own Account held with ICICI Bank Ltd., India. No
Remittance ID is provided.
3. Online:
You will need to log in to your Current Account in the
Internet Banking section and go to the Remittance section
to fill in the form online. No Remittance ID is provided.
1.4 Registered Beneficiary Details
1.4.1 Where the Beneficiary is an Account holder of ICICI Bank
Limited, India You will have to provide us with the Account
number and the type of Account of the Beneficiary.
1.4.2 Where the Beneficiary is not an account holder of ICICI
Bank Limited, India You will have to provide us with the
name of the Beneficiary's bank, complete Branch address
28 29
with postal code, and the account number together with
the type of the account. Where You require remittance of
funds to be made by demand draft, the complete postal
address of the Beneficiary will be required.
1.4.3 Where the Beneficiary holds a no frills savings account
('small account' as defined by the Reserve Bank of India) in
India, Beneficiary registration will be rejected and your
Transfer request will not be processed, as the Reserve
Bank of India restricts the credit of foreign remittances to
such types of account.
1.4.4 You may be required to provide us with certain additional
details for each of the Registered Beneficiaries.
1.4.5 Transfers using the phone may be sent only to Registered
Beneficiaries or to Your personal Bank Account with ICICI
Bank Ltd., India. The Beneficiary may have been registered
through Branch, telephone Banking or Internet Banking. A
request for a new Beneficiary registration other than your
own Account with ICICI Bank Ltd. (India) will not be
accepted through telephone banking.
1.4.6 Transfer request via telephone banking will be rejected if
the Beneficiary is not registered or if the Beneficiary
account is a non-individual account. An email
communication of such rejection will be sent to You within
three Business days of the rejection.
1.4.7 For online Transfers, processing registration requests
involves conducting Know Your Customer and Anti-Money
Laundering checks as required by applicable laws and will
be completed within one Business Day.
1.4.8 1. You need to complete the registration process once
for each Beneficiary. There is no limit on the number
of Beneficiaries that may be registered by You.
2. If You use the Service online to make a Transfer, You
may check the registration status of each Beneficiary
submitted to us for registration by logging onto your
Account online and viewing the list of Beneficiaries.
3. You are responsible for ensuring that the Beneficiary
data provided to us is complete and accurate. If You
refuse or fail to provide correct, accurate and
updated data for the Beneficiary, we may decline the
request to register such Beneficiary under the
Service.
4. We may refuse to provide the Service without giving
a reason, in particular to prevent money laundering,
fraud or terrorist financing.
5. You should update all Beneficiary details provided to
us prior to execution of any transaction.
1.5 The Service, Service Assurance, Payment Methods,
Charges, Transfer through Debit Card and Transfer Times
1.5.1 You may request us to send payments to a bank account of
a Registered Beneficiary which can receive foreign inward
remittances in accordance with Reserve Bank of India
guidelines.
1.5.2 You may use the Service only to make Transfers to India.
You may Transfer money only in GBP (originating
currency) towards your Registered Beneficiary in INR
(disbursing currency).
1.5.3 You can make a Transfer using the Service by:
(a) Cash
(b) Cheque
(c) Account debit
(d) Debit Cards - only the cards that comply with the
details mentioned below may be used for money
Transfer:
1. The card must be a GBP Chip and Pin Debit
Card.
2. The card must be a non-ICICI Bank Debit Card.
3. Magnetic strip cards without a chip may not be
used for money Transfer.
4. Credit Cards may not be used for money
Transfer.
Please note that if payment is deposited by cash or cheque,
we will first credit such payment to your Account. We will
then debit your Account and process the Transfer.
1.5.4 We will Transfer the funds to the Registered Beneficiary in
accordance with the payment method chosen by You. For
each Transfer, You must inform us of the amount in the
remitting currency to be Transferred to the Registered
Beneficiary and confirm that You wish us to process the
Transfer request.
30 31
Payment
type
Mode of
making a
request for
Transfer
Cut off time
for giving
instructions
to us on a
Business
day
Time taken
by us to
send money
to the
Beneficiary
Bank
Transaction
limit for
Transfer**
Service
Assurance
****
Account
Transfer
(Transfer
to
accounts
held with
ICICI
Bank,
India
Branch,
Call
Centre
4:30 pm
UK time
24 hours
from
placing a
transfer
request
No Limit for
Branch.
Through
Call centre
£1500 for a
third party
beneficiary
and
£4999 for
self
Transfers
per day
5pence for
every £10
transferred
No Limit for
Branch.
Through
Call centre,
£1500 for a
third party
beneficiary
and £4999
for self
Transfers
per day
Insta
Transfer
(Transfer
to
accounts
held with
ICICI
Bank,
India)
Branch,
Call
Centre
4:30 pm
UK time
4 hours
from
placing a
Transfer
request
5pence for
every £10
transferred
No limit for
Branch.
Through
Call centre,
£1500 per
day
NEFT,
RTGS
(Electron
ic Funds
Transfer
to Non
ICICI
Bank)***
Branch,
Call centre
4:30 pm
UK time
24 hours
from
placing a
transfer
request
5pence for
every £10
transferred
No limitDemand
Draft
Branch 4:30 pm
UK time
The demand
draft will be
sent within 2
Business
Days
No Service
Assurance
*To avoid any doubt, the Transfer time will exclude the time
taken by us to register the Beneficiary as explained in
clause 1.4. Please note that the time lines are subject to
Business days in the United Kingdom, United States of
America and India.
** Banks participating in an electronic funds transfer
facility offered by Reserve Bank of India. (Details of
participating banks are available on request in our
Branches).
*** The payment under the Service Assurance will be
made in GBP. You will receive payment by way of credit in
your HVCA Account with us within two Business days from
the date of credit to your Beneficiary's account. The
payment made to You will be 5pence for every £10
Transferred, subject to a minimum of £1 and maximum
of £50.
1.5.6 You may have to pay the charges applied by the
Beneficiary Bank. We may not be aware of these charges.
Such charges may be deducted by the Beneficiary Bank
from the amount that is transferred and credited to the
account of the Registered Beneficiary.
1.5.7 Once You have confirmed the Transfer, a Transaction
Reference for it will be issued to You.
1.5.8 Charges are as provided in the Rates and Charges leaflet
available at your request at any Branch. You can also view
the charges on the Website.
1.5.9 You will be provided with a time stamp at the time of
placing the request for Transfer in the following cases:
(a) Remittance requests at the Branch: Time stamp will
be provided manually on the receipt of transaction
issued to You after accepting the request for
Transfer;
(b) Remittance requests through phone: Time of
request will be communicated to You by our
representative at the time of placing the request for
Transfer;
We recommend You to check that the time stamp is
accurate on the transaction receipt.
Insta
Online
for credit
to
Accounts
held with
ICICI
Bank
Limited,
India
Internet
Banking
Anytime Instant £5000 per
day
5pence for
every £10
transferred
Online
transfers
for credit
to Bank
Accounts
held with
Banks
other
than ICICI
Bank
Limited,
India
Internet
Banking
Anytime 24 hours
from
placing a
transfer
request
£4999 per
day
5pence for
every £10
transferred
32 33
1.5.10 The Service Assurance will not apply in the following
circumstances:
(a) You provide incorrect/incomplete transaction details
and/or Beneficiary details;
(b) The Beneficiary's account is not valid;
(c) There is a system failure, technical error and/or delay
on the part of intermediary banks or Beneficiary
bank in crediting the Beneficiary’s account;
(d) The circumstances are beyond our reasonable
control and all efforts have been made by us,
whether caused by strikes, power failures,
equipment malfunctions, acts or omissions of any
intermediary Bank, war, riots (or threats of war or
riots), governmental or court orders, or work
stoppages;
(e) Your Account with us is not active;
(f) The Beneficiary's account cannot receive foreign
inward remittances in accordance with Reserve Bank
of India guidelines;
(g) Additional documents or information are required by
the Beneficiary Bank for processing the transaction;
(h) All transactions rejected by the Beneficiary Bank;
(i) All transactions that are cancelled by You.
1.5.11 Transfers through Internet Banking:
Transfer instructions through Internet Banking may be in
the following forms:
Pay Now:
(a) All pay now requests will be processed as soon as
the transaction details are confirmed by You online.
Your Account will be debited once You have
confirmed your transaction.
(b) Pay now requests will be executed at the exchange
rate applicable at the time the transaction is
confirmed by You. Pay now requests may be set in
GBP or INR. A request set in GBP will define the exact
amount to be debited from your Account. A request
set in INR will define the exact amount to be credited
to your Beneficiary's account in India. For
instructions in INR, the amount debited from your
account will be determined by the INR-GBP
exchange rate up to five decimal places.
(c) For requests set in INR, the equivalent GBP amount
will be calculated at the applicable exchange rate and
debited from your Account, subject to the daily
online transaction limit.
Future Dated Transfer:
(a) A future dated transfer request will be processed on
the date on which You have instructed us to process
the transaction. The Transfer will be processed by the
close of business on that business day.
(b) Future dated transfer requests will be executed at the
exchange rate applicable at the time the transaction
is processed. The rate applied may or may not be the
highest exchange rate for the day. The applicable
exchange rate will be inclusive of all promotional
offers (if any) valid at the time of processing.
(c) Future dated transfer requests may be set in GBP or
INR. A request set in GBP will define the exact
amount to be debited from your Account. A request
set in INR will define the exact amount to be credited
to your Beneficiary's account in India. For requests in
INR, the amount debited from your account will be
determined by the INR-GBP exchange rate up to five
decimal places.
(d) For requests set in INR, the equivalent GBP amount
will be calculated at the applicable exchange rate and
debited from your Account, subject to the daily
online transaction limit.
(e) Future dated transfer requests will not be processed
if your Account does not have a sufficient cleared
balance or You have used all the daily online
transaction limits (cumulative of all Transfers
processed on the day). The status and details of your
request may be viewed on the Transfer history page
34 35
of your Internet Banking (link available on your
Internet Banking, which displays history of your
Transfers to India).
(f) Where You have multiple and varying transactions
scheduled on a given day, any one or more may be
rejected. The cumulative sum of the transactions
scheduled on a given day will be matched against the
daily online limit and the funds available in your
Account.
(g) A future dated transfer request (which is in 'Active'
status) may be deleted before 00:00UK time on the
date for which it has been scheduled. A future dated
transfer request will be automatically deleted if the
Beneficiary to whom it has been set is deleted.
(h) Service Assurance is applicable to all requests from
the time they are accepted for processing.
Standing Instruction:
(a) A standing instruction will be processed depending
on the following:
• The date for which it has been scheduled;
• The frequency of transactions (Every seven
days, Every 15 days, Every month, Every two
months, Every quarter, Every six months); and
• The number of times the Transfer is required.
The Transfer will be processed by the close of
business on that Business Day.
(b) Standing instructions will be executed at the
exchange rate applicable at the time the transaction
is processed. The rate applied may or may not be the
highest exchange rate for the day. The applicable
exchange rate will be inclusive of all promotional
offers (if any) valid at the time of processing.
(c) Standing instructions may be set in GBP or INR. A
request set in GBP will define the exact amount to be
debited from your Account. A request set in INR will
define the exact amount to be credited to your
Beneficiary's account in India. For instructions in INR,
the amount debited from your Account will be
determined by the INR-GBP exchange rate up to five
decimal places.
(d) For requests set in INR, the equivalent GBP amount
will be calculated at the applicable exchange rate and
debited from your Account, subject to the daily
online transaction limit.
(e) Standing Instructions will not be processed if your
Account does not have a sufficient cleared balance
or You have used all the daily online transaction limits
(cumulative of all Transfers processed on the day).
The status and details of your request may be viewed
on the Transfer history page of your Internet Banking
(link available on your Internet Banking, which
displays history of your Transfers to India).
(f) Where You have multiple and varying transactions
scheduled on a given day, any one or more may get
rejected. The cumulative sum of the transactions
scheduled on a given day will be matched against the
daily online limit and the funds available in your
Account.
(g) If a standing instruction transaction has failed, the
next due transaction will be processed on the
scheduled date. The failed transaction will also be
counted in the total number of payments set for the
standing instruction.
(h) The status of various standing instructions set by You
may be viewed on the 'Manage Standing
Instructions' page of your Internet Banking.
(i) A Standing instruction (which is in 'Active' status)
may be deleted before 00:00 UK time on the date for
which it has been scheduled. A standing instruction
will be automatically deleted if the Beneficiary to
whom it has been set is deleted.
(j) Service Assurance is applicable to all requests from
the time they are accepted for processing.
36 37
Rate Block:
(a) A rate block request is valid for a period not
exceeding 15 days from the date of your request.
(b) A rate block request will be processed on a date
when the actual exchange rate meets or exceeds the
desired exchange rate set by You. If the desired
exchange rate is not met during this period, the rate
block request will be cancelled. All updates in the
actual exchange rate during a day will be validated
against the desired exchange rate. For example, if the
rate desired by You is 72.00, and:
• The actual exchange rate is 72.00, your transaction
will be processed at 72.00
• The actual exchange rate is 72.20, your transaction
will be processed at 72.20.
(c) The rate block request will be executed at the actual
exchange rate applicable at the time the transaction
is processed, which may be equal to or greater than
the desired exchange rate set by You. The applicable
exchange rate will be inclusive of all promotional
offers (if any) valid at the time of processing.
(d) A rate block request may be set only in GBP, defining
the exact amount to be debited from your Account.
(e) Rate block requests will not be processed if your
Account does not have a sufficient cleared balance
or You have used all the daily online transaction limits
(cumulative of all Transfers processed on the day).
The status and details of your request may be viewed
on the Transfer history page of your Internet Banking
(link available on your Internet Banking, which
displays history of your Transfers to India).
(f) Where You have multiple and varying transactions
scheduled on a given day, any one or more may get
rejected. The cumulative sum of the transactions
scheduled on a given day will be matched against the
daily online limit and the funds available in your
Account.
(g) The status of various rate block requests set by You
may be viewed on the 'Rate Block' page of your
Internet Banking.
(h) You may delete a rate block request which is in
'Pending' status. If You have deleted the Beneficiary
to whom the rate block has been set, your request
will be automatically deleted.
(i) Service Assurance is applicable to all requests from
the time they are accepted for processing.
1.5.12 Transfers through Debit Card:
1. The following conditions must be complied with to
use this Service, failing which we reserve the right to
refuse the Service:
a. Valid photocard driving licence or passport as photo
identification to be provided. If You are unable to
provide any of these documents, please speak to a
member of staff.
b. The Debit Card cannot be an ICICI Bank UK PLC Debit
Card.
c. The card must be a Chip and Pin Debit Card
denominated in GBP.
d. Magnetic stripe cards/cards without a chip may not
be used for money Transfer.
e. Transactions without entering the PIN (signature
based) will not be allowed.
f. Credit cards will not be accepted for money Transfer.
g. The name on the Debit Card must be the same as on
the photo identity proof.
h. We may refuse to provide the service without giving
a reason, in particular to prevent money laundering,
fraud or terrorist financing.
2. Two copies of the Transaction Receipt will be provided to
You after the money Transfer. You will sign and return one
copy of the Transaction Receipt to the official at the Branch.
3. We do not take responsibility for any Debit Card which is
38 39
lost or forgotten or left behind by You in the Branch
premises. However, if we find any Debit Card in our Bank
premises, we will retain it only until the end of the business
hours of the day (business hours of the Branch for the day
(“Business Hours”). If You need to claim the card, You will
have to provide us a valid photocard driving license or
valid passport as proof of identity. All unclaimed Debit
Cards after the end of the business hours of the day will be
destroyed by us. The cards will be destroyed in a secure
manner in the presence of two Branch officials.
4. We will retain and destroy your Debit Card if:
a. We have reason to believe that the card does not
belong to You.
b. We are asked to do so by your issuing bank.
If your card/transaction is rejected by your bank, You will
need to contact your bank.
1.6 Exchange Rates/Charges
When You give instructions to us through any of our
Branches, by telephone Banking service (between 11:00
am to 4.30 pm UK time) or Internet Banking we will provide
the exchange rate for the Transfer before the instructions
are confirmed by You. The exchange rate applied to the
Transfer will be the prevailing exchange rate at the time
You give us the Transfer request.
1.7 Your Responsibilities
1.7.1 You can make the Transfer to the Registered Beneficiary
from clear funds held by You in your Account (through
Branch, telephone Banking or Internet Banking). You
should ensure that there is an adequate balance in your
Account before You initiate a request for a Transfer. In case
of Transfers by Debit Card, there should be an adequate
balance in the account from which You have initiated the
Money Transfer. If You do not have a sufficient balance your
Transfer request will not be processed.
1.7.2 You must disclose the purpose of the Transfer and ensure
that You do not use this Service for any unlawful purposes
under the laws of the United Kingdom and India.
1.7.3 In online money Transfers, all relevant details of the
transaction will be displayed on the confirmation page,
including the Transfer amount and applicable Charges that
will be debited from your Account. By clicking on 'Confirm'
You will accept the Transfer. For each Transfer that we
perform acting upon your instructions, the Account will be
debited for the Transfer amount and applicable Charges as
soon as the Transfer is confirmed.
1.7.4 Your Account statements and other advices that we
provide to You should be reviewed by You. If You notice
any discrepancies, please notify us immediately.
1.7.5 If an INR demand draft is lost or stolen, You must inform us
immediately. The demand draft will be valid for six months
from the date of issue (subject to revision by Reserve Bank
of India). You may wish to check whether the draft has been
paid before the expiry of such validity period.
1.8 Terms specific to the Service
1.8.1 We will be responsible for acting on your instructions to
make a Transfer upon receiving clear funds, converting it
into the foreign currency and transferring it to the
Beneficiary Bank.
1.8.2 You will not receive interest on the funds Transferred from
the time you have provided us the Transfer instructions to
the time the Beneficiary receives the funds.
1.8.3 If we are unable to credit a Registered Beneficiary's
account, we will notify You by post or email on the
registered address and contact details submitted by You.
1.8.4 To comply with relevant legislations, when funds are
Transferred by us to a Beneficiary Bank, the Transfer may
need to be accompanied by details of (i) Your name (ii) Your
address (iii) Your date and place of birth (iv) Your
identification number or national identity number and (v)
Your Account number or a unique identification number
allowing the transaction to be traced back to You.
1.9 Reversal/Cancellation/Refund
1.9.1 If You ask us to cancel a Transfer we will do our best to do
so, depending on the stage of the Transfer of the funds and
40
41
the stage at which the cancellation is requested. We will not
be liable if for any reason we are unable to cancel the
Transfer.
1.9.2 For any reversal/cancellation of a Transfer request initiated
at any of our Branches or by phone, we will deduct from
your Account a charge of £10. Any charges made by the
Beneficiary's Bank on the reversal request will be met by
You.
1.9.3 You cannot reverse or cancel any Transfer requests made
online by Internet Banking.
1.9.4 If any exchange rate loss is incurred at the time of reversal,
it will be met by You.
1.9.5 If any exchange rate profit is made at the time of reversal, it
will be passed on to You. If there are sufficient reasons for
us to believe that You intentionally wanted to profit due to
currency trading, we may not pass on any gain to You.
1.9.6 Once a Transfer has been made and the Registered
Beneficiary’s account has been credited in accordance
with the instructions provided by You, any reversal of that
Transfer will require the Registered Beneficiary's prior
written consent. We will not be responsible for obtaining
that consent.
1.9.7 If You do not provide us with accurate, correct and
complete information or if we are unable to Transfer funds
due to other reasons beyond our reasonable control, we
will refund the amount to your Account after deducting the
relevant Service Charges.
1.10 Our responsibility to You
1.10.1 If You give Transfer instructions at any of our Branches, our
staff will inform You about the Transfer amount, amount in
Indian Rupees which will be received by the Registered
Beneficiary, exchange rate, charges and value date.
(Value date for Beneficiary accounts held with ICICI Bank
Ltd., India will mean the date on which the funds are
credited to the Beneficiary account and are available for
withdrawal. Value date for Beneficiary accounts held with
banks other than ICICI Bank Limited, India will mean the
date on which the funds are credited to the Beneficiary
Bank.)
For Transfer requests using the telephone banking service,
the above details will be reflected in your monthly Account
statement.
For Transfer requests using Internet Banking, the above
details will be available on the 'Transfer History' page of
your Internet Banking logged in section.
1.10.2 If we are unable to process your Transfer due to incomplete
or incorrect information provided by You on the Transfer
form, we will inform You within three Business days of the
receipt of the request. We will ask You to provide us with
the correct details for us to execute your Transfer.
However, in the case of Transfers to banks other than ICICI
Bank Limited, India, You will receive a notification within
three Business days of the date of receipt of rejection by
the Beneficiary Bank to us.
1.11 Limitation of Liability
1.11.1 We will generally rely without further enquiry on the
Transfer instructions given by You unless we have
reasonable cause to believe that such instructions are
incorrect, unauthorised or fraudulent.
1.11.2 We will be liable for losses arising as a result of not carrying
out Your instructions correctly or unreasonable delay in
doing so. Our liability may be limited to the original amount
of the Transfer.
F. Product Specific Terms and Conditions
1. Current Accounts
1.1 Currency and minimum balance
A Current Account can only be opened in such currency
and with such minimum balance as we may specify from
time to time.
42
43
2. SuperSaver Savings Accounts
2.1 Currency, Minimum Balance and Eligibility
Currency- GBP only
Minimum balance – You will need to maintain a minimum
balance of £500 to keep earning the higher rate of interest
on your Account. You will earn a lower rate of interest on
the days when the balance is below £500. Please check our
website link
www.icicibank.co.uk/savings_supersaver.html to check
the interest rates offered on the SuperSaver Savings
Account.
Eligibility
(a) You must have a linked Current Account with ICICI
Bank UK PLC;
(b) You must be at least 18 years old;
(c) You must provide valid proof of identity and
address.
2.2 Interest rates and payment of interest
2.2.1 Interest rates are subject to change and may vary from time
to time. You may enquire about the Current rates at any of
our Branches or by calling us on 08081 31 41 51 (freephone
from UK landlines).
2.2.2 We will keep you informed about changes in the interest
rates on your Accounts by sending you a personal notice
within 30 days of the change.
2.2.3 If we reduce the interest rate to your disadvantage, we will
give you two months prior notice and if you wish, we will
close your Account or help you switch your Account to a
Bank of your choice.
2.2.4 Interest is accrued daily on the day end cleared balance
and paid into your Account on the last Business Day of
each month.
This means that interest is compounded monthly.
2.3 Funds Transfer
You may transfer funds from and to your Savings Account
1.2 Monthly average balance charge
1.2.1 We will apply a monthly average balance charge on your
Current Account, based on the average balance
maintained in all your Accounts with us, such as
HomeVantage Current Account, SuperSaver Savings
Account, SuperSaver Bond, Fixed Deposit or HiSAVE
Accounts, for the respective month. The charges are
detailed in the Rates and Charges leaflet. This however
does not apply for HomeVantage Salary Account and
Global Indian Accounts.
1.2.2 The monthly average balance is calculated by adding your
daily closing balance of all your Accounts with us for the
month and dividing it by the total number of days for that
month. If you have a joint Account, we will consider the
balances maintained across all the Accounts held by all the
Account holders for calculating the monthly average
balance on the Account.
1.2.3 The monthly average balance charge for a month will be
automatically deducted from your Account on the first date
of the following month and will appear in your Account
statement as 'Administration Charges'.
1.2.4 On all cases where we were unable to recover the monthly
average balance charge from your Current Account, we
will recover that charge on the first business day in the next
month.
1.2.5 The monthly average balance charge will be applicable to
dormant Current Accounts as well as to active Accounts.
1.2.6 The monthly average balance charge will not apply to
blocked Accounts.
1.3 Funding at the time of Account Opening
To fund your GBP Current Account you can give us a
cheque of a minimum £100 drawn from your UK based
Bank, deposit cash (minimum of £50) in the Branch or
transfer the money electronically to your Current Account,
once the Current Account number is provided to you.
If your Account opening cheque is returned unpaid, your
Account will be debited with the charges in accordance
with the existing Rates and Charges leaflet available in our
Branches and on our website .www.icicibank.co.uk
44
45
only to your linked ICICI Bank UK PLC Current Account.
You may withdraw money from your SuperSaver Savings
Account by providing a written request giving details of
where the funds are to be transferred. You may also do this
online through the secure channel of Internet Banking.
3. SuperSaver Bond
3.1 Term of SuperSaver Bond
The term of the SuperSaver Bond will start on the date on
which we receive cleared funds in the SuperSaver Bond
Accou nt upon satisfact or y c om pletion of all
documentation as required by us.
3.2 Currency, period and minimum balance
SuperSaver Bonds can only be opened in GBP, with a
minimum balance of £1000 and for periods as specified by
us from time to time.
Eligibility
(a) You must have a linked Current Account with ICICI
Bank UK PLC.
(b) You must be at least 18 years old.
(c) You must provide valid proof of identity and address.
3.3 Interest rates
3.3.1 Interest on the SuperSaver Bond(s) will be credited to your
Account at the rate(s) as may be prescribed by the Bank
from time to time.
3.3.2 Interest is accrued daily at the gross rate applicable at the
time the Account is opened and is paid monthly, quarterly
or annually into your linked ICICI Bank Current Account
depending upon the option chosen.
3.3.3 Renewal Instructions
(a) If you have chosen the option of Auto-renewal, the
deposit will be renewed at our then prevailing market
rates for the corresponding amount and period of the
deposit on the date of maturity. This will apply even
in cases where preferential rates were provided for
the original deposit. Only the principal will be
reinvested and the interest will be credited to your
linked Current Account.
(b) If you have not asked us to reinvest the funds, or have
not given any alternate instructions, the deposit will
not earn any interest from the day following the
maturity date of the deposit. We will inform you if
your deposit becomes overdue.
3.4 Interest rates are fixed at the time of release and no early
withdrawals, closures or additional deposits are permitted
during the term of your SuperSaver Bond.
3.5 If any SuperSaver Bond is due for payment on a day which
is not a business day, the deposit will be payable on the
next business day. Interest will be paid up to the business
day on which the deposit was originally due and not the
succeeding business day.
3.6 No early withdrawals from a SuperSaver Bond are allowed
before the end of the agreed term. In exceptional
circumstances (for example death or Bankruptcy of the
Account holder) withdrawal will be permitted before the
term of the Bond. This may result in a cost being incurred
by you.
3.7 If a SuperSaver Bond Holder dies, the deposit amount and
accrued interest will be paid without notice or loss of
interest. If the SuperSaver Bond is in a joint name and one
of the Account holders dies, the survivor(s) may elect to
transfer the amount of the deposit and interest to their sole
name(s) for the remaining term or may opt to receive the
amount of the deposit and interest without any notice or
loss of penalty interest.
3.8 We will send you a deposit confirmation advice which will
mention the details of the SuperSaver Bond e.g. amount,
term, interest rate etc.
You can make an enquiry in respect of any instruction,
whether made by you or another person, by contacting us
on 08081 31 41 51 (freephone from UK landlines) or in
person at any of our Branches.
G Other Terms and Conditions
1. Enquiries about an instruction
46
47
2. Cut-off times, execution times and when
you can cancel an instruction to
make a payment
2.1 The cut-off time is the time on a business day before which
a payment instruction is treated as received by us for that
business day. This means that if we receive a payment or a
payment instruction after the cut-off time, we will treat this
as received by us on the next business day. If we receive a
payment or a payment instruction on a day that is not a
business day, we will treat this as received on the next
business day. Cut-off times vary for different types of
payment and for different ways in which the payment is
requested.
2.2 If you ask us to make a payment immediately, you cannot
change or cancel the payment instruction because we start
processing it when we receive it. You can cancel a standing
order and any other payment which you have asked us to
make on a future date as long as you tell us before 12 noon
of the of the business day before which the payment is due
to be made.
2.3 After any time limits for cancellation referred to in this
clause have expired, you may cancel your instructions only
if it is possible for us to do so.
Branch
Next
business
day
1:00 pm
1 business
day
£50,000
per
business
day
No
NA
1 business
day
1:00 pm
Internet
banking
CHAPS
Branch
1:00 pm
Same day
NA
No
SWIFT
GBP 1:00 pm
USD 1:00 pm
EUR 10:30 am
Branch
Same day.
This may
take longer
depending
on the
country
the money
is being
sent to
NA
No
Payment
type
How to
request
for a
payment
General cut
off time for
giving us
instructions
Maximum
execution
time
Payment
limit
Can you
arrange a
payment to
be sent on a
future date?
Branch
4:30 pm Immediate
NA
No
Internal
transfers
Internet
banking
Anytime
Immediate
£50,000
per day
Yes and you
can cancel a
future date
payment by
internet
banking a day
before we
send payment
Bankers
draft
GBP 4:30 pm
USD 12:00
noon
-Same day
for GBP
drafts.
-Next
business
day for
USD drafts.
Branch
NA
No
4:30 pm
In case of
internal
transfers
- same day.
In case of
external
transfers
- next
business
day if
scheduled
date is a
business day;
second
business
day if
scheduled
date is a
non-business
day
Branch NA
Yes and you
can cancel a
standing
order at
our Branches
by submitting
a request
before 12:00
noon, a day
before we
execute
payment
Standing
orders
INR
Demand
Draft
NA
Same day
NA
Branch 4:30 pm
Standing
orders
Internet
banking
Anytime
In case of
internal
transfers
- same day.
In case of
external
transfers -
next business
day if
scheduled
date is a
business
day; second
business
day if
scheduled
date is a
non-business
day
Yes and you
can cancel a
standing
order
by Internet
Banking a day
before we
execute
payment
£50,000
per
business
day
Refer
Section C,
Clause 6
Cash
deposit
Cash
payment
Refer
Section C,
Clause 7
NoBranch Immediate4:30 pm
NoBranch Immediate4:30 pm
3. When payments will and
will not be made by us
3.1 When we assess whether to make or authorise payments,
we may consider any other payments we have made or
agreed to make from your Account that day, even if those
other payments have not already been deducted from your
Account. You must take this into consideration when
requesting payments.
48 49
4. Conduct of your Account
4.1 Borrowing from us
4.1.1 For unauthorised overdrafts, we may charge our
applicable fee each time your Account becomes
overdrawn and will inform you accordingly.
4.1.2. We may not allow a payment if it makes your Account
overdrawn or exceed any agreed overdraft limit. If we do
pay the cheque or other item or card transaction and your
Account becomes overdrawn or you exceed any agreed
overdraft limit, this does not mean that we have agreed to
an overdraft or increased the limit. You must immediately
pay enough money into your Account to cover the
overdrawn amount or the amount that is over your agreed
overdraft limit.
4.1.3 We may use any amount you have in your Account and in
any currency to settle overdrafts in your name and/or a
joint Account. We will inform you before doing this unless
we reasonably think that you will move your funds in order
to prevent us from applying set-off. Please refer to
condition13 in section G for other provisions on “set-off”.
We may delay or refuse to make or authorise a payment if:
(a) We reasonably believe that you did not give us the
instructions; or
(b) We reasonably suspect fraud or it is prudent in the
interests of crime prevention.
In such cases we will confirm the transaction by making a
return telephone call to a telephone number that we hold
on our records for you.
3.2 If we refuse to make a payment that you have requested we
will inform you of this by the close of next business day.
You can also contact us and we will tell you the reasons for
the refusal of a payment and the procedure for correcting
any errors that led to the refusal (unless a legal reason or
certain other limited circumstances beyond our control
prevent us providing this information to you).
3.3 We will act upon written instructions or recorded lines (as
applicable depending on the method used for giving
instructions) received by us. If we reasonably believe that
such instructions are incorrect, unauthorised or
fraudulent, we will refuse to act upon such instructions.
4.1.4 We may allow an overdraft on your Account if we feel that it
is a necessary to ensure that your Account is in order. If we
do so, we will apply interest and charges as mentioned in
our Rates and Charges leaflet.
4.2 We will ask you to sign a telecommunication mandate
which authorises us to act on your instructions received by
us through telephone and/or email. Instructions received
by us through the secured channel of Internet Banking will
also be executed by us on your behalf.
4.3 If a petition for a bankruptcy order is presented against
you, we may:
(a) Refuse to act on any instructions given by you or
anyone else to make payments out of your Account
unless you have previously obtained an appropriate
order from the court; and/or
(b) Set up a separate Account in your name into which
any of your future payments will be credited.
5. Liability
5.1 Making Payments
5.1.1. We will not be liable if your payment is delayed or sent to
the wrong person because you gave us the wrong details.
If a payment does go to the wrong person because you
gave us the wrong details, we will use reasonable efforts to
recover the payment.
5.1.2 If you provide us with extra information to that specified by
us, we will only be responsible for making the payment
based on the information we have told you we require.
5.1.3 For payments to another Bank Account, we will make sure
payments are sent to the beneficiary's Bank. It is that Bank's
responsibility to make sure the payment is added to the
Bank Account of the beneficiary.
5.1.4 If you have instructed us to make a payment, we are
responsible for it being made correctly to the beneficiary
Bank. If required, we will prove to you or the beneficiary
Bank (as appropriate), that the payment was received by
the beneficiary Bank within the timescales for executing
payments.
5.1.5 If we do not carry out your instructions, delay doing so, or
50 51
do not do so correctly, we will be liable for losses, including
charges we may have applied at the time of execution of
the transaction and any resulting interest loss. We will not
be liable to you for any losses we could not reasonably be
expected to have foreseen.
5.1.6 We will take reasonable steps to ensure that email and
other transmissions passing over the internet remain
confidential and are not interfered with. However, we
cannot completely guarantee the privacy or confidentiality
of any information passing over the internet or that it will
not be interfered with.
5.1.7 Provided we have exercised reasonable care we shall not
be liable to you for any loss or damage suffered by you:
(a) Where we have acted on your instructions correctly;
or
(b) Where our services are unavailable or delayed by
any unavoidable circumstances beyond our control
such as war, riots (or threats of war or riots),
governmental or court orders.
(c) If your instructions are inaccurate, incomplete, or
wrong.
5.2 Preauthorised transactions
5.2.1 Payments authorised by you and carried out by the payee
(for example, where you authorise a payment to be taken
from your Debit Card, or a direct debit) will be immediately
refunded where:
(a) The amount of the payment exceeded what you
could reasonably have expected (except that you
cannot complain about increases resulting from
exchange rate fluctuations);
(b) Your authorisation did not specify the exact amount
of the payment; and
(c) You request the refund within eight weeks of the
payment from your Account.
To be entitled to an immediate refund, you must provide
the information reasonably necessary to establish that
these Terms have been satisfied. The reason for refusing
any refund will be provided within 10 Business days of the
date of your request or receipt of any further information
required. If you are not satisfied with the reason for
refusing a refund, please contact your local Branch or our
telephone Banking service. If we discover subsequently
that you are not entitled to a refund, we will be entitled to
reapply the payment(s) to your Account, together with any
applicable interest and/or charges.
You will not be entitled to a refund where you have given
your consent to the payment directly to us and at least four
weeks in advance:
(a) We or the payee have provided you with information
about the payment; or
(b) Information about the payment was made available
to you by our online Banking service, or at any
Branch.
5.2.2 The above clause does not apply to payments where the
recurring payment amount is fixed.
5.3 Unauthorised transactions
You must read your statements carefully on receipt
or when they are available online.
If you suspect that an unauthorised or incorrect payment
has been made from your Account please contact us
immediately by visiting any Branch or using our Telephone
Banking Service. If you do not tell us promptly and in any
event within 13 months after the date the payment was
debited, you may not be entitled to have any errors
corrected or amount refunded. Otherwise and subject to
clause 6.2 below, an unauthorised or incorrect payment of
which you have given notice will be refunded and, where
applicable, your Account will be restored to its position
had the unauthorised or incorrect payment not taken
place. We will have no further liability to you in relation to
any unauthorised payment.
52
53
6. Liability for unauthorised transactions
6.1 You will be liable up to a maximum of £50 for any losses
incurred in respect of unauthorised payments from your
Account arising:
(a) From the use of a lost or stolen card or security
details; or
(b) Where you have failed to keep your security details
safe.
6.2 You will be liable for all losses if:
(a) You have acted fraudulently, which includes allowing
another person to make payments; or
(b) You have intentionally or with gross negligence
failed to keep your security details secret and safe.
You will not be liable for any losses occurring after
you have informed us that your security or personalised
details are no longer safe.
6.3 You will not be responsible for any unauthorised payments
where:
(a) You have not yet received your security details; or
(b) These have been made by someone who has your
security details and has used them without your
authority to make a payment where the Account
holder does not need to be present, such as the
purchase of goods or services by telephone, over the
internet or mail order.
6.4 Compensating us for loss
You must compensate us for loss or damage which is
caused to us as a result of either of the following:
(a) You have acted fraudulently; or
(b) You have not observed these Terms and Conditions
and this was done intentionally or with gross
negligence.
The amount paid by you under this condition will represent
a reasonable assessment of our losses. This includes the
reasonable costs incurred by us in investigating and
managing the matter as well as our reasonable legal costs.
The protection provided by you under this condition will
not apply if we deliberately or negligently caused the loss
or if it is not consistent with relevant laws or regulations.
7. Suspension/Restriction of services
like Internet Banking, Telephone Services,
Debit Cards
7.1 We may suspend, withdraw or restrict the use of our
services where:
(a) We have reasonable grounds to suspect that your
security details have not been kept safe;
(b) We have reasonable grounds to suspect
unauthorised or fraudulent use of your security
details; or
(c) We consider it appropriate for your protection.
Unless we are unable to contact you or there is a legal
reason or other circumstances beyond our control
preventing us from doing so, we will tell you before taking
this action and provide our reasons for doing so. If we are
unable to contact you beforehand, where possible we will
tell you and give our reasons afterwards.
7.2 You can ask us to lift any suspension on your services by
contacting us. However we may refuse to act on such a
request if this would compromise our reasonable security
measures or if it is unlawful to do so.
8. Interest rates
8.1 You can find out about our interest rates by calling us on
08081 31 41 51 (freephone from UK landlines), visiting our
website, looking at the notices in our Branches or asking
our staff. When you open an Account, we will give you
information on the interest rates which apply to your
Accounts. We will also tell you our website address, our
customer service numbers and the other ways in which
you can find out about charges and the interest rates on
your Accounts.
8.2 If you ask us, we will give you a full explanation of how we
work out the interest. You may also ask our staff at any of
our Branches or a customer service officer on 08081 31 41
51 (freephone from UK landlines) for such an explanation.
8.3 When you have money in your Account (depending upon
which Account you hold), you may be eligible to earn
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9. Charges
9.1 When you open your Account we will give you details of
any charges for the day-to-day running of your Account.
You can also find out about these charges by calling our
customer service, visiting our website or asking our staff.
You can download the latest copy of our rates and charges
from our website.
9.2 If we increase any of these charges or introduce a new
charge, we will always tell you personally at least two
months beforehand. If you are dissatisfied with the
changes, you will have a right to switch or close your
Account without loss of interest or any additional charges.
We will increase charges only because of valid reasons
such as changes in market conditions, the cost of providing
service to you, or legal or regulatory requirements
affecting us.
9.3 If any sum due and payable by you is not paid on the due
date you will be liable to pay interest (both before and after
judgment) on such sum at such rate or rates as we may
from time to time stipulate, from the date payment is due
up to the date of payment.
9.4 When you give us any instructions on the telephone to
carry out a transaction or a service where there is a charge,
our customer service officer will inform you of the charge
and seek your confirmation before proceeding with the
instructions.
10. Statements
10.1 We will give you regular monthly Account statements for
your Current and savings Account. You will be able to
access your monthly Account statement in a secure PDF
format by logging into your Account online. Your PDF
Account statement will be available to view and download.
We will not charge you for this service. You will need to
have Adobe Acrobat Reader installed on your computer to
be able to view the statement.
10.2 Please contact us through email, telephone or by visiting
our Branches if you wish to receive your statements by
interest on it. If so, we will work out the interest due on the
cleared amount in your Account at the close of business
every business day. The interest will be paid into your
Accounts on the last business day of each month. This
means that interest is compounded monthly.
8.4 Where we add interest to your Account, we pay it “net”
(taking off income tax at the standard rate) unless we are
allowed to pay you gross interest (without taking off tax).
For example, we can do this if you (or all of you on a joint
Account) give us a completed Form R85 (or any
replacement form). You can get the form from our
Branches or from HM Revenue and Customs. Higher rate
tax payers may have to pay additional tax themselves.
8.5 Changes to interest rates
8.5.1 When we change the interest rates on your Accounts, we
will update the information with our Branches, call centre
and website. To help you compare rates, the old rates will
also be available from our customer service and on our
Website.
8.5.2 We may change interest rates applied to money you have
with us in your Account in the following ways:
(a) If the change is to your advantage, we will tell you
about the change personally or by putting notices in
our Branches within 30 days of the change; and
(b) If the change is to your disadvantage, we will always
tell you personally at least two months beforehand. If
you are dissatisfied with the changes, you will have a right
to switch or close your Account without loss of interest or
any additional charges.
We will change the interest rates only for valid reasons
such as changes in market conditions, the cost of providing
service to you, or legal or regulatory requirements
affecting us.
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post. You can receive your Account statements by post at
no extra charge.
10.3 For the security of your Account we will not provide you
with statements if your Account is dormant. Please refer to
section B, clause 6 for information on Dormant Accounts.
10.4 You can ask us to send you a copy of a paper statement we
have already provided but we will charge you for this.
10.5 Your statements will show all amounts added to or taken
from your Account since the previous statement along
with details of individual transactions.
10.6 We may use messages on or with your statements to tell
you about changes to these Terms and Conditions or to
other agreements or services you have with us.
10.7 If you have a joint Account we will provide the statement to
each of you.
10.8 You should read your statements and tell us as soon as
possible if you believe there is an incorrect entry.
11. Changes to these Terms and Conditions
11.1 We may change these Terms and Conditions, including our
charges, for valid reasons such as changes in market
conditions, the cost of providing service to you, legal or
regulatory requirements affecting us or any development
of our systems or processes. If we believe any term is not
clear, we will modify it to make it simple and clear without
altering the meaning.
11.2 We will advise you of any such changes covered under
condition 11.1 including changes to charges, which are to
your disadvantage, by sending you personal notice (sent
electronically) at least two months in advance of the
change. If you are dissatisfied with the changes, you will
have a right to switch or close your Account without loss of
interest or any additional charges.
11.3 We will advise you of any changes covered under
condition 11.1, including changes to charges, which are
not to your disadvantage, by sending a personal notice
(sent electronically) within 30 days of making such change.
11.4 If any major change is made, or many minor changes are
made in one year, we will provide a copy of the new Terms
and Conditions or a summary of the changes. You can also
view the Terms and Conditions from our website
www.icicibank.co.uk.
12.1 You can close your Account at any time by writing to us at
your Branch or ICICI Bank UK PLC, PO Box 905, Wembley
HA0 9DX or visiting any of our Branches. You should return
any Debit Cards or unused cheques provided to you
(cutting both before sending them).
12.2 If you have a joint Account, we would require all joint
holders to authorise closure of the Account.
12.3 You must repay any money you owe us, including charges,
the amount of any cheques, card transactions or other
payment instructions you have made, which have not been
taken from your Account.
12.4 Unless specified by you, we will send a cheque for the
money we owe you to your last address on our records.
We will only pay or transfer the money in your Account(s)
to you and not to any other person.
12.5 If you require your tax certificate for your Account(s)
closed during the Current year, you can make a request for
this with our call centre.
12.6 We can also close your Account by giving you not less than
two months notice before we close your Account.
12.7 We can also close your Account immediately if you have
been, or we reasonably consider you may be:
(a) Seriously or persistently broken these Terms and
Conditions in any other way; or .
(b) Using or obtaining, or allowing someone else to use
or obtain, a service or money illegally;
(c) Acting fraudulently;
(d) Behaving improperly (for example, in a threatening
or abusive manner to our staff); or
(e) Giving us false information; or
(f) Using your Account for an illegal purpose.
12.8 If we plan to close, move or significantly reduce (by 30%)
the opening hours of your Branch, we will tell you at least
12. Closing your Account
5958
12 weeks beforehand. We will also tell you how we will
continue to provide Banking services to you, including
your nearest Branch.
12.9 You must inform all third parties with whom you have
arranged direct debits and standing orders of the closure
of your Account. If someone sends a payment to your
closed Account, we will take reasonable steps to return the
payment to the sender.
12.10 In the event of your death:
(a) We will ask the personal representative of the
deceased to provide proof of their authority and then
transfer the balance to the personal representative.
The Account will be blocked when we receive notice
of the Account holder's death.
(b) In the case of joint Accounts, if any one of the
Account holders dies, we will accept instructions
from the survivor(s) and the Account will pass into
their name(s).
(c) We may not permit any withdrawal from an Account
where an Account holder has died until we have
received the correct forms relating to the estate.
13. Set-off
13.1 We may use any credit balance (in any currency) on any
Account you hold with us to repay any amounts that you
owe us, including amounts you owe us for unauthorised
overdrafts on your Accounts, together with any related
charges. This applies to Accounts held in your own name
or jointly. We will inform you before doing this unless we
reasonably think that you will move your funds in order to
prevent us from applying set-off.
13.2 We can exercise our right of set-off as described above
even if there is a court decision against you or you are fined
unless the court instructs us otherwise, or we are
otherwise prevented by law.
14. Promotions
We may run promotions from time to time for you, which may only
be available to eligible customers.
15.1 We will treat all your personal information (“your
information”) as private and confidential (even when you
are no longer a customer). By “your information” we mean
any information about you that you or third parties (such as
credit reference agencies, fraud prevention agencies or
third parties associated with you) provide to us. We will
process your information in accordance with the Data
Protection Act 1998, and any other applicable laws.
15.2 We and other Group companies will access, use and
analyse your information for the following purposes:
• To manage, maintain and develop our relationship
with you;
• To consider any applications made by you;
• To manage your Account(s);
• To make financial risk assessments including money
laundering checks and for fraud prevention
purposes;
• To meet our regulatory, compliance and reporting
obligations;
• To provide you with information in relation to
products, services and events of both Group
companies and third parties which we consider may
be of interest to you. However, we will do so only if
you have given an explicit consent for this. If at any
time, you want to revoke your consent, you may tell
us at ICICI Bank UK PLC, One Thomas More Square,
London E1W 1YN;
• For assessment and analysis purposes including
behaviour scoring and market and product analysis;
and
• To prevent crime, to verify your identity; and
• To develop and improve our services to you and to
notify you about changes to our services.
15.3 We will not disclose your information outside the Group
except:
• Where we have your permission;
15. Your Information:
how we use/process it
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• If we are required or permitted to do so by any law or
regulation;
• To credit reference and fraud prevention agencies
and identity and address verification organisations
(who may record and use your information and
disclose it to other lenders), financial services
organisations and insurers. Your information may be
used by those third parties to make assessments in
relation to your creditworthiness for debt tracing,
fraud and money laundering prevention purposes;
• If false or inaccurate information is provided and
fraud is identified, details will be passed to fraud
prevention agencies. Law enforcement agencies
may access and use this information. We and other
organisations may also access and use this
information to prevent fraud and money laundering,
for example, when:
• Checking details on applications for credit and credit
related or other facilities;
• Managing credit and credit related Accounts or
facilities;
• Recovering debt;
• Checking details on proposals and claims for all
types of insurance;
• Checking details of job applicants and employees.
Please contact us at 08081 31 41 51 (freephone from
UK landlines) if you want to receive details of the
relevant fraud prevention agencies;
• To government entities and regulatory bodies in
order that those entities may discharge their
responsibilities and obligations or exercise their
powers or functions;
• To persons who act as our agents and service
providers. Where we use agents and service
providers this will be under a strict code of
confidentiality and we will ensure that they have
adequate security measures in place to safeguard
your information;
• To a third party to whom we transfer or may transfer
our rights and duties under your customer
agreement or any other agreement we enter into
with you; We will transfer our rights and obligations
only to those third parties whom we reasonably
consider capable of performing them so that there is
no reduction in the service standard provided to you
by us;
• To third parties as part of the process of selling one or
more of our businesses;
• To carefully selected third parties so that they can
contact you about products or services that they
think may interest you. We will pass your information
to third parties for marketing purposes only if you
have given an explicit consent for this.
15.4 We and other organisations may access and use from
other countries the information recorded by fraud
prevention agencies.
15.5 We may transfer your information to Group companies or
third parties situated in other countries (including outside
the European Economic Area) for the purposes of carrying
out your order, processing your payment instructions,
provision of support services etc. We will take all steps
reasonably necessary to ensure that such Group
companies or third parties agree to apply similar levels of
protection as we are required to apply in the UK.
15.6 We will use your information to inform you by mail,
telephone or email about products and services that may
be of interest to you. You can tell us if you don't want to
receive such marketing information.
15.7 Under the Data Protection Act 1998, you have the right to
see the personal records we hold about you. We may
charge you a small fee (Currently £10) for supplying the
information and may require as appropriate your identity
before doing so.
15.8 You have the right of access to your personal records held
by credit reference and fraud prevention agencies. We will
supply their names and addresses upon request by you.
15.9 We require your prior written permission or request if we
are asked to give a Banker's reference about you. This
reference is no more than an opinion and is in no way a
guarantee of your ability to make payments.
15.10 We may monitor or record calls, emails, text messages or
other communications in accordance with applicable laws.
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Such recording or monitoring may take place for business
purposes such as quality control and training, prevention
of unauthorised use of our telecommunication systems
and Website, ensuring effective systems operation,
prevention or detection of crime, and protection of your
personal data.
15.11 If in trying to contact you by telephone we are unable to
speak to you, we may leave a message for you to call or
contact us.
16.1 Data sharing
We may record, exchange, analyse and use relevant
information about you and your relationships with the
companies in our Group (including the nature of your
transactions) for credit assessment, market research and
administrative purposes. Relevant information may also
be exchanged with companies in our Group and others, for
audit purposes.
16.2 Crime prevention and debt recovery
To prevent crime, to verify your identity and to recover
debt, we may exchange information (both within the UK
and, where appropriate, overseas) with other companies
in our Group and, where appropriate, with fraud
prevention and debt recovery agencies and other
organisations including other lenders
16.3 Where you borrow or may borrow from us, we may give
details of your Account and how you manage it to credit
reference agencies. If you borrow and do not repay in full
and on time, we may tell credit reference agencies who will
record the outstanding debt.
16. Credit reference and fraud prevention
17. Financial difficulties
17.1 We will consider cases of financial difficulty
sympathetically and positively. Our first step will be to try
to contact you to discuss the matter. If you find yourself in
financial difficulties, you should let us know as soon as
possible. We will do all we can to help you to overcome
your difficulties. With your cooperation, we will develop a
plan with you for dealing with your financial difficulties and
we will tell you in writing what we have agreed.
17.2 The sooner we discuss your problems, the easier it will be
for both of us to find a solution. The more you tell us about
your full financial circumstances, the more we may be able
to help.
17.3 If you are in difficulties, you can also get help and advice
from debt-counseling organisations. We will tell you where
you can get free money advice. You should also be aware
that there are other companies that charge a fee for
managing your debts. You should check the fees that may
be charged before asking these companies to act on your
behalf.
17.4 In certain circumstances we may pass your debt to another
organisation or debt-collection agency. We will always
choose reputable firms which have subscribed to the
Lending Code. In other circumstances, we may sell your
debt. We will always choose reputable firms if we do this.
Nothing in these Terms and Conditions will reduce your statutory
rights including your rights relating to described Accounts or
services, the fairness of Terms on which they are provided to you,
any rights you may have to close your Account and/or claim
compensation. For further information about your statutory rights
contact your local authority Trading Standards Department, the
Office of Fair Trading or the Citizens Advice Bureau.
18. Your statutory rights
If you want to make a complaint, please contact us in one of
the following ways
Write to us at:
Customer Relations,
ICICI Bank UK Plc,
One Thomas More Square,
London
E1W 1YN.
Visit your nearest ICICI Bank Branch and speak to a
member of staff.
Telephone: Customer Service Centre on 08081 31 4151
(freephone from UK landlines) to inform us of your
concerns.
19. Complaints
6564
Email: [email protected]
We will arrange for the right person to investigate and
respond to your concerns. (You must not send us your
password, or other information you consider confidential,
by e-mail or post). Within two business days of receiving
your complaint, we will send you a written
acknowledgement. Within four weeks, we will write to you
again with our final response or to explain why we need
more time to respond. If we have not already responded to
you, we will send you our final or other response within
eight weeks and will tell you how to take your complaint
further if you are still not satisfied. If you are not happy with
the outcome, you may have the right to ask the Financial
Ombudsman Service to settle the complaint. You may
contact that service at:
The Financial Ombudsman Service,
South Quay Plaza,
183 Marsh Wall,
London E14 9SR
Phone: 0845 080 1800
Website: www.financial-ombudsman.org.uk
Email: complaint.info@financial-ombudsman.org.uk
20. Miscellaneous
20.1 Applicable law
These Terms and Conditions are governed by English law
and any dispute between you and us will be subject to the
non-exclusive jurisdiction of the courts of England and
Wales.
20.2 Notice
We may use any contact details you have provided us with,
including your postal address, telephone number and
email address for any notice or other communication we
may make to you, or may deliver it to you personally. Any
writ, summons or other process may be served upon you
by posting the same to you or handing it to you personally.
However, we may serve process upon you by any other
means permitted by law.
20.3 Circumstances beyond our control
If we fail to perform our obligations towards you because
of any event beyond our control such as war, riots,
Governmental or court orders or similar circumstances,
then we:
• Will try to perform such obligations as soon as
reasonably practicable; or
• We may close your Account by giving two months
notice to you.
In such circumstances, you may also terminate this
contract without any penalty.
20.4 Transfer of rights and obligations
You may not transfer any of your rights or obligations in
relation to your Account or assign or transfer any Account
or deposit.
We may transfer all or any of our rights in relation to your
Account. We may also transfer any of our obligations, or
arrange for any other party to carry out our obligations, but
only to someone we reasonably consider capable of
performing them so that there is no reduction in the service
standard provided to you. We will give you two months
advance notice before we make any such changes. You
have the right to close or switch your Account within this
two month period without incurring any penalty or extra
charges.
20.5 Relaxation of Terms and Conditions
If we relax any of the Terms and Conditions this may be a
temporary measure or a special case and we may enforce
them again upon reasonable notice.
20.6 I m p o r t a n t i n f o r m a t i o n a b o u t c o m p e n s a t i o n
arrangements:
Under UK legislation, all deposit monies held by you with
us (as a Bank authorised and regulated by the FSA) are, in
the unlikely event of us ever becoming insolvent,
protected. We are a member of the Financial Services
Compensation Scheme established under the Financial
Services and Market Act 2000. The FSCS can pay
compensation to depositors if a Bank is unable to meet its
financial obligations. Most depositors, including most
individuals and some small businesses, are covered by the
scheme. In respect of deposits with ICICI Bank UK PLC,
payments under the Scheme are limited to 100% of the
first £85,000 of a depositor's total deposits with us. Where
two depositors hold a joint Account, each Account holder
is treated as having a claim in respect of their share, so the
maximum amount that could be claimed would be £85,000
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each (making a total of £170,000). The £85,000 limit relates
to the combined amount in all the eligible depositor's
Accounts with us including their share of any joint
Account, and not to each separate Account.
For further information about the scheme (including the
amounts covered and eligibility to claim) please ask at your
local Branch, refer to the FSCS website www.FSCS.org.uk
or call 020 7892 7300 or 0800 678 1100.
