Cheque Image Clearing
In the present cheque clearing system, cheques deposited are physically transported from banks or building society branches to central clearing centres, where they are processed before being exchanged with the relevant banks and building societies for payment. It is a slow and labour-intensive process. ICICI Bank UK PLC meets the requirements of the 2-4-6 cheque clearance process implemented by all UK banks and building societies. The 2, 4 and 6 refer to the number of working days after a cheque has been paid into an account. Working days are Monday to Friday, except bank holidays. So, for example, if you pay in a cheque on a Monday, you will see it in your statement the same day, it counts towards interest on Wednesday(2), you can use the money on Friday(4) and ICICI Bank cannot take the payment out of your account after the following Tuesday(6).
Changes from 30 October 2017
The Cheque and Credit Clearing Company (which manages the cheque-clearing system) has announced that from October 30, 2017, there’ll be a new, image-based clearing system. UK banks and building societies will clear cheques by exchanging cheque images instead of exchanging physical cheques and from the second half of 2018 cheques will be cleared much faster which means you will have faster access to your money. We will also change the way we process cheques at our branches. More details will be provided as we get closer to the implementation date.
Interest Certificate for the year 2016-2017 now available online:
Your Interest Certificate for the year 2016-2017 is now available online to view and download. To download your Interest Certificate, log in to your account online and select 'Download Interest Certificate for 2016-17'.
Our Rates and charges are changing with effect from January 15, 2017.
- For changes in Money Transfer to India and international usage of your ICICI Bank UK Debit Card click here to see the changes.
- For changes in Business Current Account charges click here for details
Knightsbridge branch relocated
The services provided from our branch at 21 Knightsbridge, London SW1X7LY has relocated to a new office effective October 10, 2016.
Personal Savings Allowance (PSA)
We would like to inform that Income tax will no longer be deducted from the interest you earn on your savings account and these changes will take effect on 6th April, 2016.
Personal Savings Allowance – FAQs
How much is the Personal Savings Allowance?
Tax Certificate (FY 2015-16)
Foreign Account Tax Compliance Act (FATCA)