Linked Current Accounts and Cheque Deposits FAQs

Why do you need my current account number and bank sort code?


We need your current account number and bank sort code to set up an electronic direct debit link between your HiSAVE Account and your current account (nominated linked account). This will be the account from which your initial deposit and will be transferred. You remain in full control of your money at all times.

Does my nominated linked account need to be with ICICI Bank UK?


No, it can be with any UK bank or building society, however it cannot be an ICICI bank HomeVantage Current Account.

Does my initial deposit need to come from my nominated linked account?


Yes, it must be drawn from the nominated linked account that you selected during your application. This can be done either by transferring funds directly from your nominated linked account into your HiSAVE Remittance Account or by sending us a cheque.

Can I link a joint current account with my sole HiSAVE Remittance account?


Yes. If you want to open a HiSAVE Remittance account in your sole name, your nominated linked current account can be either a sole or a joint account.

Can I change my nominated linked account?


Yes, you can change your nominated linked account after 45 days of your HiSAVE Remittance Account being opened. To change your linked account, follow the below steps:

 

Customers who have a single HiSAVE Remittance Account only:

  1. Log in to your HiSAVE Remittance Account and click on: ’Transfer Money’ > ‘View or change nominated linked account’ > ’Change nominated linked account’. You will need to enter your new current account details and approve the direct debit mandate.
  2. We will give you a reference number which you should make a note of.
  3. To verify your new account, we will set up a direct debit on the new nominated linked account and debit £1 from your account.
  4. We will change your nominated linked account within one business day of debiting £1 from your new nominated linked account.

Please note: You cannot change your nominated linked account more than once within a period of 45 days.

 

Customers who have other single HiSAVE accounts as well:
Your nominated linked account must be common between all your HiSAVE accounts. So follow exactly the same steps as above to change your nominated linked account. The details account will be changed in all your HiSAVE accounts.

 

Customers who have a joint HiSAVE Remittance Account only:

  1. Log in to your HiSAVE Remittance Account and click on: ’Transfer Money’ > ‘View or change nominated linked account’ > ’Change nominated linked account’. You will need to enter your new current account details and approve the direct debit mandate. Your new current account must be in the same joint names as the HiSAVE Remittance Account.
  2. We will give you a reference number which you should make a note of.
  3. To verify your new account, send us a cheque from the new nominated linked account (value £1). Please mention the reference number on the back of the cheque in order for us to trace your request quickly.
  4. We will change your nominated linked account within seven business days of receiving the cheque. The cheque amount will be deposited in your HiSAVE Remittance Account.

Please note: You cannot change your nominated linked account more than once within a period of 45 days.