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HiSAVE Remittance Account 1.00% AER

  • Online savings account designed for money transfers to India
  • Instant money transfers to any ICICI Bank Account in India and transfers to other Banks within 24 hours
  • Earn interest on the balance maintained in your account
  • Online account opening and management
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HiSave Remittance Account – ICICI Bank UK PLC

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Our HiSAVE Remittance Account is a dual-benefit online account which makes remitting money to India easier and lets you earn interest on the balance maintained.

If you regularly remit to India, but find it difficult to visit a branch, you can apply online for this account and send money any day of the week, at any time of day. The HiSAVE Remittance Account is designed for money transfers to India with special features.

  • Online-only account opening and management
  • Monthly interest on account balance
  • No minimum balance required
  • Access to money transfer service 24/7, including weekends and bank holidays
  • Confirmed exchange rate 24/7
  • Instant money transfers to ICICI Bank Ltd. accounts in India
  • Transfers within 24 hours to 55,000 bank branches in India
  • Service assurance on all remittances to India
  • Withdrawals and deposits can only be made via your linked current account
  • No chequebook or debit card

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Service assurance

We´ll transfer your money:

  • Instantly ­ to ICICI Bank India
  • In 24 hours ­ to any other bank in India
If we fail to meet this assurance, we´ll pay you 5 pence for every £10 transferred by way of credit into your account. We´ll pay a minimum of £1 and maximum of £50.

Beneficiary text alerts

We can send your beneficiary a text alert when we remit your money to India. This will keep them informed of the payments you have sent. Text alerts to India are charged at 50 pence per text.

Standing instructions

A standing instruction is an order you give us to send money to India at regular intervals. You only need to place your money transfer request once and we will do the rest for you. You can instruct us to transfer money every seven days, 15 days, monthly, every two months, quarterly or every six months. Log into your HiSAVE Remittance Account, click on 'Fund Transfer to India' and go to the 'Manage Standing Instructions' tab.

  • Please see the applicable charges.

  • Future dated transfers

    You can instruct us in advance to remit money to any account in India on a particular date. Transfers will be completed at the exchange rate applicable at the time of transfer. Log into your HiSAVE Remittance Account, click on ´Fund Transfer to India´ and go to the 'Transfer Money' tab.
    Please see the applicable charges.

    Rate block

    Get more Rupees for your Pounds. Tell us the minimum rate at which you wish to remit money to India and we will ensure your money is sent only at that exchange rate or at a higher rate. Log into your HiSAVE Remittance Account, click on 'Fund Transfer to India' and choose 'Rate Block' tab.
    Please see the applicable charges.

    Transfer instructions in GBP or INR

    Choose the currency of your money transfer request - in Pounds (GBP) or Indian Rupees (INR). A GBP instruction will tell us the exact amount to debit from your HiSAVE Remittance Account and the corresponding INR to be transferred. An INR instruction will tell us the exact amount of Indian Rupees to be credited to your beneficiary. For instructions in INR, the amount debited from your HiSAVE Remittance Account will be determined by the INR-GBP rate on the date of transfer, up to five decimal places.

    Rewards for referrals

    Refer a friend who you think would benefit from our Money Transfer to India service and get a calling card with 500 free minutes to India. The friend you refer must have never held a HomeVantage Current Account or HiSAVE Remittance Account with us.

      It´s simple:
    • Log onto your HiSAVE Remittance account and go to Fund Transfer to India
    • Click on the "Refer a friend" tab
    • Enter your friends´ details
    Click here to view the Terms and Conditions of the calling card


    Apply Now


    HiSAVE Remittance Account


    Eligibility
    Access
    • Application - Please apply online, it takes less than 10 minutes.
    • Management - you manage your accounts online or through the Customer Service Centre.
    • Account statements can also be viewed and downloaded online.
    • Please go through the HiSAVE Remittance Account Terms and Conditions before you apply.
    Account funding
    • Your Account can only be funded by electronic transfer from your linked current account.
    • We will credit your HiSAVE Remittance Account within two hours of receipt of funds from your bank.
    • No minimum balance is required to be maintained.
    Interest rates and payment
    • View our current interest rates
    • Interest is calculated on a daily basis on the total balance in your Account at the relevant gross rate.
    • Interest is paid at the end of each month into your Account.
    • Interest is paid net (i.e. taxed) unless you register for tax-free status.
    Withdrawals
    • Withdrawals may be made either as money transfers to India, or as payments into your linked current account.
    • No penalties for withdrawal.
    • Payments into your linked current account will be processed within one business day.
    • Money transfers to ICICI Bank accounts in India will be processed instantly; Transfers to any other bank account in India will be processed within 24 hours.
    Withdrawal limits
    • Money transfer to India - You can transfer up to £5,000 per day to an ICICI Bank Ltd. account or up to £4,999 per day to any other bank in India.
    • Payment into the linked current account - £50,000 per day.
    Contact details
    Call us on 080 81 31 41 51 (Freephone from UK landlines) or email HiSAVE enquiries.

    1. Who regulates us?
      ICICI Bank UK PLC is authorised and regulated by the Financial Services Authority. ICICI Bank UK PLC (registration number: 223268). ICICI Bank UK PLC (Company number 04663024) has its registered office at One Thomas More Square, London E1W 1YN.

    2. What to do if you have a complaint?
      If you wish to register a complaint, please contact us at:
      ICICI Bank UK PLC,
      Customer Relations,
      2nd Floor,
      One Thomas More Square,
      London E1W 1YN

      Or

      Call our Customer Service Centre at 0844 412 4444 (calls cost 5 pence per minute plus your phone company's access charge).

      Or

      Email us at ukcustomerrelations@icicibank.com
      We will then arrange for a member of the complaints team to investigate and respond to you accordingly.

    3. Are we covered by the Financial Services Compensation Scheme?
      ICICI Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

      In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank 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.

    Money transfer to India


    Step 1 – log into your HiSAVE Remittance account and select 'Transfer Money' under 'Fund Transfer To India'

    Step 2 – to send money to a new beneficiary:

    • Click on Register a new beneficiary and enter the beneficiary details
    • Call us on 080 81 31 41 51 (Freephone from UK landlines) and we’ll verify the beneficiary details with you over the phone
    • The beneficiary will be registered within one business day

    Step 3 – to send money to a pre-registered beneficiary:

    • Click on 'Transfer Money' and enter the details of your transfer request
    • Click on 'Confirm' after checking the details
    • Money transfers to beneficiaries having ICICI Bank accounts in India will be processed instantly; transfers to any other bank account will be processed within 24 hours.
    • You can transfer up to £5,000 per day to an ICICI Bank Ltd account or up to £4,999 per day to any other bank in India.
    • Money transfers to beneficiaries having ICICI Bank accounts in India will be processed instantly; transfers to any other bank account will be processed within 24 hours

    Apply Now

    Payment to your linked current account


    Step 1 – log into your HiSAVE Remittance account and select 'Transfer Money tab'

    Step 2 – Submit details of your transaction and click 'Confirm'

    • Payments into your linked current account will be processed within one business day.
    • You can withdraw up to £50,000 per day to your linked current account.

    Click here to see our indicative money transfer exchange rates.

    HiSAVE Remittance Account Rates effective from mm dd yyyy

     
    AER(variable xx%
    Gross xx%
    Net xx%
    Tax Free xx%

    Charges

     
    Money transfer to an ICICI bank account in India £1
    Money transfer to other banks in India £2
    CHAPS transfer £20
    Physical copy of statement £5
    Physical copy of tax statement £5

    Charges applicable to each transfer made using the standing instructions, future dated transfers and rate block features:

     
      Transfer to ICICI Bank Limited (India) Transfer to other Indian banks
    Transfer Mode Instant 24 hours
    Online £1 £2

    HiSAVE Remittance Account Rates effective from mm dd yyyy

     
    AER(variable xx%
    Gross xx%
    Net xx%
    Tax Free xx%

    Charges

     
    Money transfer to an ICICI bank account in India £1
    Money transfer to other banks in India £2
    CHAPS transfer £20
    Physical copy of statement £5
    Physical copy of tax statement £5

    Charges applicable to each transfer made using the standing instructions, future dated transfers and rate block features:

     
      Transfer to ICICI Bank Limited (India) Transfer to other Indian banks
    Transfer Mode Instant 24 hours
    Online £1 £2

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    We're here to help

    Call us on 0344 412 4444 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls).

    If you're outside the UK, call +44 203 478 5319.

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