|Features and Benefits||
|Safe and secure||
In line with Bank’s previous communication dated February 07, 2020 please note, from April 08 2020 the Bank shall no longer be supporting ‘Online Forex Payment Services’ platform. Instead customers will be able to use ICICI Bank UK PLC’s customer friendly Corporate Internet Banking Platform for making international payments in major world currencies. For more information, please click here. In case of any queries for logging into CIB platform or currencies supported by the platform please write to email@example.com.
The Business Banking Current account provides benefits for organisations that require foreign exchange services such as:
- Facilitating payments in a range of currencies
- Remit Indian Rupees to more than 4000 branches of ICICI Bank Ltd (India) through Business Internet Banking & through the Branch Network
- Remit Indian Rupees to through the Branch Network to more than 55,000 bank branches in India
- Bespoke Online Forex Payment Service for currencies other than Indian Rupees
- Trade and working capital requirements
- Treasury offerings including Indian Rupee forwards
- These products and services are subject to terms and conditions, a copy of which you can collect from the branch/relationship managers/treasury dealer.
- Exchange rate fluctuations impact foreign currency payments.
At ICICI Bank UK PLC we are focused on developing our relationships with Business Banking clients. As such we are pleased to introduce to you a bespoke Online Forex Payment Service to enable you to make international payments through your account online.
We are committed to understanding your business and tailoring flexible solutions that work for you and meet your needs as your business continues to evolve.
When your business is trading internationally and whether you’re paying suppliers based overseas in a range of currencies or funding an overseas office, ICICI’s Online Forex Payment Services can help you manage your costs, with competitive and real time exchange rates.
The Online Forex Payment Service platform does not provide access to Business Internet Banking or Personal Internet Banking services. For more information relating to these services, please visit our website at www.icicibank.co.uk
1. Who regulates us?
ICICI Bank UK PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268).
2. What should you do if you have a complaint?
If you want to make a complaint, please contact us at:
ICICI Bank UK PLC,
2nd Floor, One Thomas More Square,
London – E1W 1YN
Call our Customer Service Centre at 0344 412 4444(Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls)
Email us at firstname.lastname@example.org
We will then arrange for a member of the complaints team to investigate and respond to you immediately.
3. Are we covered by the Financial Services Compensation Scheme (FSCS)?
FSCS Coverage information 2017 click here
FSCS Coverage information 2015 click here
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268).
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.
For further information about the compensation provided by the FSCS (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 the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.
ICICI Bank UK PLC’s – Online Forex Payment Service offers a variety of methods in which you may transfer funds to your beneficiary.
|Delivery Method||Turn Around Time||Description||Fee|
|Direct Credit||5 days||Direct Credit is the means by which an organisation can transfer funds electronically, directly into a specified Bank to make payments to accounts of individuals or companies E.g of a Direct Credit are Automated Clearing House transfers||
|Wire Transfer||3 days||Wire transfers allow customers in different geographic locations to easily transfer money to financial institutions around the globe. International money transfers are effected with the help of SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages. A six digit Bank Identification Code (BIC) is assigned to each bank and transfer of fund is effected with the help of SWIFT messages.||
|Issue of Draft||15 days||Mailed as a draft (cheque) to the address of your recipient.||
|Cancel a Payment||3 days||