Business Banking

These terms and conditions apply to the services and products available to “you”, the customer, which means non-corporate customer and includes
* a small charity, ie a charitable body whose annual income is less than £1 million; or
* a micro-enterprise, ie an enterprise that employs fewer than ten people and whose annual turnover and/or balance    sheet total does not exceed EUR 2million (or its Sterling equivalent), which is not 'linked' with another enterprise which    does not satisfy these criteria.
For example, if you are a subsidiary with a much larger parent company (whether or not based in the UK) you will not be treated for these purposes as a micro-enterprise

They, together with the terms on the account opening form(s) or any other forms signed by you for services related to your account, are a contract between you and "us", ICICI Bank UK PLC. We are an Associate Member of the British Bankers' Association. ICICI Bank UK PLC is authorized and regulated by the Financial Services Authority (FSA 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 authorized to take deposits in India by the Reserve Bank of India.

These general terms apply unless they are inconsistent with the terms that apply to specific products or accounts. In the event of any inconsistency, the terms relating to the specific products or accounts or services will prevail.

These are our standard terms and conditions upon which we intend to rely for our products and services from time to time. For your own benefit and protection you should read these terms and conditions carefully before availing any of our products and services and keep them in a safe place. You can ask for a copy of these terms at any time. If you do not understand any of the terms or conditions, please contact us for further information by visiting any of our branches.

1.1  Accounts may be opened by:

• a sole trader - a person operating a business in his or her own name or under a trading name;
• a partnership - two or more people operating an unincorporated business together with a view to making a profit from the business;
• Corporations - Companies (incorporated in the UK or abroad), Limited Liability Partnerships and other corporate bodies
• Clubs, societies, associations, personal representatives, trustees, charities and others - persons, groups or bodies providing a service to benefit others

To open an account with us you need to complete an account opening application form. You will be asked to provide us with such information as we may require 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(s).

For any operation on your Account; including making payments by cheques from your account, we will ask you and other persons who will sign on the account to provide us with specimen signatures in advance. The specimen signature shall be of the authorised signatory. ‘Authorised Signatory’ means any person(s) authorised by you (in the case of a sole trader/practitioner/company/club, that includes the sole trader/practitioner/director/administrator and any person nominated by you in any mandate or other written instruction in relation to the Account; in the case of a firm, that includes those partners nominated to act as signatories on the Account; and in the case of a trust, this includes those trustees nominated to act as signatories on the Account) to operate the Account in accordance with the separate Account operating instructions you provide us from time to time, covering the Account and (if applicable) any other Accounts you have with us. Only the Authorised Signatory (ies) may give us instructions for operations on the Account.

We may set a minimum opening balance, a minimum average quarterly balance or other required minimum standards. You can refer to our Rates and Charges leaflet for details about the charges. If you do not maintain these set balances, then we may withdraw certain services and/or you may incur charges.

In the case of a partnership firm, each partner jointly and severally shall be held fully liable and responsible for any debt on the Account. In the event of the Bank receiving notice that any person has ceased to be a partner of the firm by death, bankruptcy, retirement or otherwise, we may treat the surviving continuing partners or partner as having full power to carry on the business of the firm and may deal with the firm’s assets as freely as if there had been no change to the firm.

We may contact each other by post, telephone, computer (and subject to Section B clause 3) which includes internet/ electronic mail, digital television and any other electronic means and/or message made by any type of electronic device including but not limited to mobile/cellular communications or by any other method we agree. If we post a letter to you in the United Kingdom (the UK) it will be considered to be received 24 hours later if sent by first class post, 72 hours later if sent by second class post. If we post a letter to you at an address outside the UK it will be considered to be received by you seven days after being sent. Electronic mail will be considered to be received on transmission, subject to a receipt or transmission confirmation.

You could electronically mail (email) us at ukcorporate@icicibank.com or write to us at ICICI Bank UK PLC, PO Box 905, Wembley HA0 9DX.

If you are not happy about your choice of account, you may 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.

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 working days of receiving their request to do this. Also, we will close or move your current account without charge, when you ask us to do so. We will give you what you need to operate the account within 10 working days of approving your application.

We will cancel any Bank charges you have to pay as a result of any mistake or unnecessary delay by us when you transfer your current account to or from us.

In case you have not made any transactions on your current account for a period 18 months, then for the safety of your account we will make your account dormant.

    A dormant account has restrictions on transactions. The following transactions will not be allowed on a dormant account;

• Cash and Cheque Deposits into the account
• Cash and Cheque withdrawals
• Issue of fresh cheque book
• Change of address & contact details
• Transactions through internet banking
• Password regeneration
• Fund transfers through Standing Instruction, Direct Debit, Internet Banking or manual instruction
• Inward & outward remittance – Chaps,Swift & BACS
• Booking of Fixed deposit from dormant account
• Setting up Standing Instructions

You agree to repay and reimburse us fully for all losses and damages that we may incur due to us acting on your instructions or any breach of these terms and conditions by you as permissible under any law.

  Under Money Laundering Regulations, you may need to provide us with evidence of your identity to protect your interests.
We are required by law to check your identity to prevent money laundering. We may do this electronically, using a reference agency, or ask for documentary evidence. We will check your identity at the time of submission of application and at any time during continuance of the relationship you hold with us. We may delay or decline the processing of the application or instructions until we have satisfactory evidence of your identity.
  Where required by an applicable law or we otherwise believe that disclosure may help to combat fraud, money laundering offences or other criminal activity, we may report information about you and the Service we provide to you to the appropriate regulatory or governmental authorities, bodies or agencies. In case of any dispute or fraud reported by you or identified by us, we reserve the right to report the matter to the appropriate regulatory authorities

Internal transfers –payments between UK accounts you have with us in the same name.

BACS payments – sterling payments directly to the account of another person or organisation in the UK, Channel Islands and Isle of Man.

CHAPS – payments in sterling in the UK made through the Clearing House Automated Payment System (CHAPS).

You must provide us with all the following details to enable us to make a payment:

If you are going to receive BACS payments or Internal Transfers, you must tell the sender of the payment your account number and sort code.

We will require all the following details from you to enable us to set up a standing order from your account:

• We will require all the following details from you to enable us to set up a standing order from your account:
• the recipient’s name, sort code and account number;
• the date we are to start deducting the payments from your account;
• how often you want us to make the payments;
• the amount of each payment and for what length of time you require us to make the payments; and
• any reference identifying the payment (including a reference to you or the recipient).

We will require all the following details from you to transfer money from your account:

• Name of the Beneficiary
• Postal address of the Beneficiary
• Beneficiary’s account number
• Beneficiary Bank’s complete postal address with post code (in case of transfers to banks other than ICICI Bank Limited, India)
• your own account number and name. This is a legal requirement and these details will be passed to the recipient’s bank
• the recipient’s reference, if applicable
• amount, currency and purpose of payment

We do not normally act on fax, email, or other electronic instructions. If you do wish us to act on fax, email or other electronic communications we will require you to agree to repay to us any losses we incur by doing so.

• "Account" means any bank account you hold with us.
  
• "Corporate ID" means an identification number issued to you and to be used to access the Service.
  
• "Password" refers to the password issued by us to a User to access the Service, and which may be changed by you from time to time.
  
• "Service" means the corporate internet banking service offered by us to you through which you may access information relating to the Account(s) you hold with us. The Service may be provided by us or through our associates or contracted service providers.
  
• "Terms and Conditions" means these terms and conditions (as amended from time to time) which apply to the use of the Service.
  
• "User" means a person authorised by you to access the Account(s) through the Service.
  
• "User ID" means the identification provided to each User of the Service to enable the User to access your Accounts.
  
• "Website" refers to the website owned, established and maintained by us located at www.icicibank.co.uk.
  
• “Working day” means a day on which banks are open for business in England and Wales, excluding Saturdays, Sundays, bank holidays and public holidays.

• You have an existing Corporate ID and you have completed a Corporate Internet Banking Application Form.
• If you do not have an existing Corporate ID, you will be eligible for one once you have opened an Account and completed a Corporate Internet Banking Application form.

• never in writing or otherwise, recording the Password in a way that can be understood by someone else;
• never revealing the Password or User ID to someone else including our staff;
• destroying any advice, from us, concerning your Password immediately after receipt;
• avoiding using a Password that may be easy to guess;
• not recording the Password or User ID on any software which retains it automatically;
• keeping the Corporate ID and User ID in a safe place at all times; and
• treating emails you receive with caution and being wary of emails or calls asking you to reveal any personal security details. We will never contact you to reveal your Passwords.

• Know real time balances of the Accounts, namely, the uncleared balance, the available balance and lien Amount. But see clause 3.8.3.
• View Transactions on the Account for a period up to one month date range.
• View Mini-statements which will reflect last 10 transactions on the account.
• Know the status of cheques in clearing, shown as float balance.
• Set up or cancel standing orders
• Transfer funds to and from any Account (subject to any account restrictions agreed separately with you);
• Instruct transfers to third parties’ accounts; and
• Use other facilities which the Bank may from time to time incorporate into the Service; all to the extent that the Service permits from time to time.

• Use black ink which cannot be erased, not leaving a gap between words or figures. Never sign a cheque before you use it.
• When you are writing a cheque you must clearly write the name of the person you are paying the cheque to and also put some additional information as this will help us to prevent fraud.
• If you are making a cheque payable to a bank, a building society, a large organization or a financial institution, do not make the cheque payable simply to that organisation. Add further details in the payee line (for example XYZ Bank, ABC Ltd, account number XXXXXXX).
• In all cases you should draw a line through the unused space on the cheque so that it will prevent unauthorised people to add extra number and names.
• You must sign all alterations to cheques you issue.

• the cheque has not been paid already;
• we receive the request to stop it before 1100 Hrs on the day the cheque is presented for payment.
• you have provided sufficient details for us to identify the transaction. We will charge to "stop" the cheque. The charges are provided in rates and charges leaflet.

• where we have acted on your instructions;
• where our services are unavailable or delayed by any cause beyond our reasonable control (including industrial action, and any system/hardware failure)
• if, for any reason beyond our control, the operation of your account or our ability to you for any monies in your account is restricted or otherwise affected; or
• if your instructions are inaccurate, incomplete, or wrong.

• the exact amount of the payment is not specified when you give your authority, for example with a direct debit; and
• the amount of the payment exceeds the amount you could reasonably have expected to pay, taking into account your previous spending pattern, the Terms and all other circumstances (but not fluctuations in the exchange rate),

• 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 ukcorporate@icicibank.com or visit any of our branches if you want to receive details of the relevant fraud prevention agencies.
• We and other organisations may access and use information recorded by fraud prevention agencies from other countries.

• 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
• if the change is not favourable to you, by telling you about it through personalized correspondence or putting notices in our branches, at least 60 days in advance of making the change.

• if the change is to your advantage, we will tell you about the change personally or by putting notices in the national press or on our Rates and Charge at our branches within 30 days of the change; and

• if the change is not favourable to you, by giving you at least 60 days’ advance personal notice.

We may make any change to the Terms for all or any of the reasons set out in this clause.

• If the change is favourable to you.

• Following, or in anticipation of, and to reflect a change in relevant law or regulation or to reflect a change in industry guidance or code of practice or good banking practice.

• To reflect the making of a relevant recommendation, requirement or decision of any court, ombudsman, regulator or similar body.

• To reflect the costs or consequences of any event beyond our control that may impact our provision of accounts, services or facilities to you.

• To make the Terms clearer.

• To reflect any change in our systems and procedures, including any change arising from any reorganisation of our business as a result of it being acquired by, or by our acquiring another bank or organisation.

• To reflect any change in the base rate or any rate that replaces it, as set by the Bank of England or by any Bank that takes over responsibility for setting such a rate (or the equivalent rate set by the relevant country’s central bank when dealing with foreign currency).

• To reflect changes or anticipated changes in costs associated with relevant technology, the costs we pay to others in respect of the product in question, inflation and/or in our costs of providing accounts, services or facilities.

• To reflect any changes or anticipated changes in money market interest rates or the cost to us of the money we lend.

• To improve the services we provide.

• To reflect our internal policies on competitiveness, market share and/or the profitability of our business as a whole, where we are not acting dishonestly, for an improper purpose, in a manner which inappropriately discriminates against a particular customer or as an unreasonable financial institution would.

If any accounts you hold with us are in credit, we may use any of them to reduce or repay any amounts you owe to us on other accounts you hold with us anywhere in the same name (including any card accounts and joint accounts) whether or not those accounts are in the same currency. If we decide to do so:

• We will tell you why and when it has been done; and

• in doing so, we may (and you irrevocably authorise us to):

•bring to an end any fixed deposit period applying to any of the accounts you hold with us and adjust any interest payable by us;

• convert to sterling at the prevailing market rate of exchange any balance that is in a currency other than sterling; and in doing so we will have no liability to you.

Nothing in this clause will prevent us from exercising at any time, any other right of set-off or of combination of accounts to reduce or repay any amounts you owe us.

Issuing a Cheque in favour of ICICI Bank UK PLC A/C Customer Name. The account will be credited only for the cleared funds against the cheque, subject to fulfillment of the following conditions:

a. The cheque is duly crossed, dated and signed by You

b. The cheque is accompanied with the pay-in slip, duly signed by You

c. The signature on the cheque matches the signature of the applicant as in the Account Opening Form

d. The cheque is not for any amount less than 100 GBP.

In case your account opening cheque is returned unpaid, your account shall be debited of the charges as per the existing rate & charges schedule available in our branches and on our website www.icicibank.co.uk

In the event that any event outside our control (including industrial action) stops or delays us from performing our obligations to you, then we may elect either:

• to postpone performance until we are able to perform our obligations; or

• to close the account by giving 30 days' notice to you.

"ICICI" and our logo are our registered trademarks. We have a license for or own all copyrights for the website through which you access the service and all trademarks and other materials used on it.This agreement shall be governed by and construed in accordance with the English laws and any dispute between you and us shall be subject to the exclusive jurisdiction of the Courts of England and Wales.

We will treat all your personal information as private and confidential (even when you are no longer a customer). We will not reveal your name or address or details about your accounts to anyone, including other companies in our group, other than in the following exceptional cases:

• if we are required or permitted to do so by any applicable law, regulation, legal process or governmental request;

• there is a duty to the public to reveal the information;

• our interests mean that we must give the information (for instance, to prevent fraud or for credit rating); or

• if you ask us to reveal the information, and we have your prior written permission or request.

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.

1. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies.

2. Law enforcement agencies may access and use this information.

3. 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

4. Contact us at ukcorporate@icicibank.com or visit any of our branches if you want to receive details of the relevant fraud prevention agencies.

We and other organisations may access and use information recorded by fraud prevention agencies from other countries.

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.

If you want to make a complaint please contact us promptly at:

• Write to us at:

Customer Relations,
ICICI Bank UK Plc,
5th Floor Alperton House,
Wembley
HA0 1EH

• Walk in to your nearest ICICI Bank branch and speak to a member of staff.

• Telephone: Customer Relations on freephone 080 81 31 4151 (24x7) to inform us of your concerns.

• Email to: ukcustomerrelations@icicibank.com

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 5 working days of receiving your complaint, we will send you a written acknowledgement. Within 4 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 sent it, we will send you our final or other response within 8 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:

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