Why bank with us – ICICI Bank UK PLC
We offer you a range of personal banking, business, corporate and investment banking services in the UK and Europe. We’re a wholly owned subsidiary of ICICI Bank Ltd, an award-winning global bank.
- India’s largest private bank
- 25 million customers in 19 countries
- The consolidated asset base is USD 4.1 billion as at March 31, 2012
Page Sharing Links
- Import LC (letter of credit) - we can issue letters of credit to enable you to purchase goods from international suppliers. You can benefit from our worldwide distribution network (our offices/branches and correspondent banking relationships) and our expertise in structured instruments.
- Collection Bills - we handle import collection bills which are a common and flexible method of payment for goods purchased from your suppliers. Our expertise enables efficient and prompt handling of your import collection documents.
- We arrange delivery orders and shipping guarantees - in certain situations your goods may arrive at the port before the shipping documents have been processed through the banking system. We can issue a shipping guarantee allowing you to take control of the goods from the shipping company.
- Import financing - for many businesses import financing is an essential tool for growth. We address your working capital gap through various import financing solutions in foreign currency including buyers and supplier’s credit at competitive LIBOR (London Interbank offer rate) linked rates.
- Export LC (letter of credit) Advising – by advising the export LC or amendment, the advising bank signifies that it has satisfied itself as to the apparent authenticity of the LC or amendment and that the advice accurately reflects the terms and conditions of the LC or amendment received. We can handle export letters of credit to assist timely delivery by exporters.
- Export LC (letters of credit) confirmation – we offer confirmation services of export letters of credit received from other foreign banks, enabling you to eliminate foreign bank and country risks from your exports. Once we add our confirmation to the letter of credit you are assured of payment, subject to non-discrepant documents, irrespective of non-payment by LC opening bank.
- Collection Bills – routing your export collection bill activities through us will help to eliminate many of your exporting challenges. Not only will your international banking become more uniform, but you also experience fewer delays in receiving payment, gaining greater control over your export receivables and benefit from an efficient cash flow management.
- Export LC bill discounting and negotiation – we can negotiate export bills drawn under letter of credit provided that the documents are presented in accordance with the terms and conditions of the LC.
- Pre-and post-shipment financing – we provide pre-shipment finance at competitive rates to help you meet your working capital needs while manufacturing your goods for export. Similarly for post-shipment financing, we can credit the discounted value of your invoice immediately upon shipment of goods. The proceeds are credited to your account provided the export documents are presented to us.
When entering into a large-scale business transaction or high-value project, a company is required to submit a bank guarantee. In an increasingly challenging business environment, a bank guarantee is an effective way of securing performance and payment. We provide bank guarantee services that assure your clients of your strong commitment. Some of the variants of guarantees offered include:
- Performance guarantees
- Financial guarantees
- Bid bond guarantees
- Advance payment guarantees
- Deferred payment guarantees
- Stand-by letters of credit
Payment & treasury services
The services we provide to enable fast and convenient international payment and treasury management include:
- Cash amd cheque handling
- Local CHAPS & BACS payments
- International money transfers
- Money transfers to India
- Inward credits
- Payment services to financial institutions
- Corporate forex services:
- Conversion of all major traded currencies
- Cash, TOM and spot rates
- 24/7 online access (read only) to your Corporate Current Account
- Treasury services customised to your needs
Corporate Current Account
- A secured-channel, multi-currency account offering 24-hour transactions in Sterling, Dollars and Euros.
- Access corporate online banking through our website from any location globally – with no separate installations required.
- View real-time balances and statements, with a multi-level approval system which will help you monitor and keep control of your accounts.
- A dedicated relationship manager will manage your account, further you can walk into any of our 11 branches in the UK.
We also offer the following services with this account:
- Competitive and transparent exchange rates on money transfers to India, including instant money transfers to ICICI Bank Ltd (India).
- Domestic and international money transfers from Sterling, US Dollars and Euros, to Sterling, US Dollars, Euros, Swiss Francs, Australian Dollars, Canadian Dollars and Japanese Yen.
- Commercial payment services – make or receive payments and manage foreign exchange for overseas markets.
- SEPA Inward Credits for non-priority payments from over 30 countries.
We can help you invest your surplus funds in fixed deposits with features including:
- A wide range of tenures
- An array of investment plans to choose from
- The ability to make partial withdrawals
- An auto-renewal facility
- Inward credits