Managing my HiSAVE Remittance account FAQs

How do I access my account?


By logging into your account online. You can also use our free phone banking service, dial 0344 412 4444 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls) .

How do I change my contact details?


Simply 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) or log into online banking, go to 'Service Requests' > 'Request for change of email ID/contact number' or 'Request for change of address' and complete the form. We’ll action changes to your postal address, email address or phone numbers within two business days.

What is a Service Request and how do I use this?


Our online ‘Service Request’ tool provides a quick link to frequently asked requests. Here are just a few of the ‘Service Requests’ currently available:

  • Open a HiSAVE Fixed Rate Account
  • Request a CHAPS transfer
  • Request for change of address
  • Track your Service Request

Here's how to raise a Service Request:

  • Log into your HiSAVE account.
  • Click on the ‘Service Request’ option on the left-hand side of the screen.
  • Select the appropriate ‘Service Request’, fill in the short form and click ‘Submit’.
  • You’ll then receive your Service Request number, which you can use to track the progress of your request.

How to track the status of your Service Request:

  • Log into your HiSAVE account
  • Click on the ‘Service Request’ option and select ‘Track your Service Request’.
  • Select your account number and enter your Service Request number.
  • You’ll then see a progress update for your Service Request.

Will I be able to withdraw funds using a cheque book or debit card?


No, we don’t issue a cheque book or debit card for a HiSAVE Remittance Account. You manage your account online and make withdrawals by transferring money to India or to your nominated linked account.

Can I make transactions in any currency?


A HiSAVE Remittance account is denominated in Sterling only. Domestic transactions cannot be made in other currencies. However, money transfers to India can be made in Indian Rupees.

Will my online password expire?


For security reasons, if you don’t use your password during a six-month period it will expire. If this happens, we can send a new password to you within seven business days. Just visit our login page, click on the “Forgotten log in details / Generate password online” link follow the on-screen instructions.

 

Alternatively, 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) and ask for a new password.

Will I have access to my HiSAVE Remittance account through ICICI branches?


No, the HiSAVE Remittance account is managed exclusively online.

How long does it take to move money between my HiSAVE Remittance account and my nominated linked current account?


It normally takes one business day to transfer funds between your HiSAVE Remittance Account and your nominated linked current account. If your direct debit link is in the process of being set up, your first transfer may take up to eight business days.

How do I transfer funds to and from my HiSAVE Remittance Account?


To transfer funds into your HiSave Remittance Account, you must login to your nominated linked account online and initiate an electronic transfer to the HiSAVE Remittance account.

 

To transfer funds from your HiSave Remittance Account to your nominated linked account, log into your HiSAVE Remittance Account and go to the ’Transfer Money’ section. Don’t forget to click ’Confirm’ to complete your request.

 

To transfer funds from your HiSave Remittance Account to a bank in India, log into your HiSAVE Remittance Account, click on ’Fund Transfer To India’ and go to ‘Transfer Money’ section. Register a beneficiary with us and submit your transfer request under the ‘Transfer Money’ tab. Don’t forget to click ’Confirm’ to complete your request.

Can I send money to my HiSAVE Remittance Account from an account that’s not my nominated linked current account?


No. You can only transfer funds to your HiSAVE Remittance Account from your nominated linked account..

Is my HiSAVE Remittance Account subject to any deposit or withdrawal limits?


Deposits: There is no limit on the value or number of deposits you can make from your nominated linked account to your HiSAVE Remittance Account.

 

Withdrawals: For domestic payments, you may withdraw up to £20,000 per day online. For money transfers to India, you may send up to £5,000 per day to an account with ICICI Bank Ltd. and up to £4,999 per day to an account with any other bank in India.

How can I transfer more than £20,000 from my HiSAVE Remittance Account?


You can by:

  • Calling 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). Requests received after 1:00 pm UK time, or on a non-working day, will be processed the following business day..
  • Writing to your ‘Account Manager’ after logging into online banking. In this case your request will be processed in two business days. The funds will be available in your nominated linked account in one business day from the time we act on your request.

How do I make a CHAPS transfer from my HiSAVE Remittance Account?


Log into online banking and go to ‘Service Requests’ > ’Request CHAPS transfer’. For a CHAPS transfer to be made on the same day, you must request the transfer on or before 1:00 pm UK time on a business day. Requests made after 1:00 p.m. UK time, or on a non-business day, will be fulfilled the following business day. Please note we do not accept future-dated transfers. There is a charge for CHAPS transfers.

How will I know if you have received my request for a CHAPS transfer?


We will send you a confirmation email within one hour of receiving your request.

How can I cancel a domestic payment request?


Domestic payment requests cannot be cancelled because we start processing your request as soon as we receive them.

How do I close my HiSAVE Remittance Account ?


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) and place your request. We will then close your account and transfer the balance, plus any interest, to your nominated linked account. It takes three business days for funds to reach your nominated linked account and the HiSAVE account to be closed.

 

Please note that if you have a HiSAVE Fixed Rate Account linked to HiSAVE Remittance Account, you will not be able to close your HiSAVE Remittance Account until the maturity of your HiSAVE Fixed Rate Account.

How do I reactivate an inactive account?


If there are no customer-generated transactions in a HiSAVE Remittance Account for a period of 24 months, we will mark the account as ‘inactive’. To reactivate a inactive account you can 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) and ask us to reactivate your account. Your request will be processed in one business day. In some cases, we may need to see some documents.

How will I receive my HiSAVE Remittance account statements?


You can access your monthly account statements by logging into online banking and downloading them. They’re in a non-editable PDF format and are available for viewing and downloading for twelve months after they have been generated. Your statements of transactions are also available in other formats for your reference. Upon request, we can give you a physical copy of these statements. You can place a request by calling 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) or by writing in via ‘Account Manager’ from online banking. There is a charge of £5 for these requests. You can also view your historical transactions online.

What transactions can I make in my HiSAVE Remittance Account?


The table below provides a list of transactions that can be conducted with a HiSAVE Remittance Account:

 

>
Financial Transactions Turn Around Time (business days) Charges (£) Cut-off for placing the request for it to be processed on same day (if applicable) UK local time Financial Limit (£) Value date (working days) Channel
Payments into HISAVE Remittance Account 2 hours from receipt of funds NIL 3:30 pm
UK time
No limit The amount will be credited into your account on the same day on which we receive it and will start earning interest Internet and Phone Banking
Withdrawal via “Next business day payments” 1 NIL 1pm for online request
1pm for phone request
50,000 per day for online transactions Immediate, provided the request is received before cut-off time. Funds will be available in your nominated linked account as per BACS clearing cycle Internet and Phone Banking
Withdrawals from HISAVE Remittance Account via CHAPS 1 20 1:00 pm No limit Immediate, provided the request is received before cut-off time Internet and Phone Banking
Request for opening a HiSAVE Fixed Rate Account by pulling money from your HISAVE Remittance Account 2 (provided funds are available in your HISAVE Remittance Account) NIL NA Minimum amount should be 1,000. No limit on maximum investment You will start earning interest from the day you have clear funds in your HiSAVE Fixed Rate Account Internet and Phone Banking
Request for opening a HiSAVE Fixed Rate Account by pulling money from your nominated linked account 7 (provided direct debit link between your HiSAVE Savings Accounts and your nominated linked account is set up) NIL NA Minimum amount should be 1,000. No limit on maximum investment You will start earning interest from the day we receive clear funds from your nominated linked account Internet & Phone banking
Request for change in tax status 1 NIL NA NA Your tax status will be considered to have changed once we have processed your request Internet and Phone Banking
Request for closure of HISAVE Remittance Account 2 NIL NA NA NA Internet and Phone Banking
 
Non Financial Transactions Turn Around Time (business days) Charges (£) Cut-off for placing the request for it to be processed on same day (if applicable) UK local time Financial Limit (£) Value date (business days) Channel
Request for change in contact details like address/email/telephone/mobile number 2 NIL NA NA NA Internet and Phone Banking
Request for gross interest (submission of R85 form) 7 (dependant on UK postal service) NIL NA NA NA Internet and Phone Banking
'Re- issue' of internet banking password 7 (dependency on UK postal service) NIL NA NA NA Internet and Phone Banking
Request for activation of an inactive account 1 NIL NA NA NA Phone banking
Request for change of nominated linked account 7 (from the time we receive the cheque and Direct debit Mandate from you) NIL NA NA NA Internet Banking
Request for physical copy of Tax certificate 7 (dependency on UK postal service) 5 NA NA NA Phone Banking
Request for physical copy of statement (one-off requirement) 7 (dependency on UK postal service) 5 NA NA NA Phone Banking
Request to check status of funds transfer from nominated linked account to HiSAVE account 1 NA NA NA NA Phone Banking
Miscellaneous queries