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Business Current Account

Banking at your convenience

We offer businesses a wide range of solutions. Our business current account help you transact and move your money easily and quickly. Bank offers business current accounts in GPB, USD and EUR. The Bank provides banking solution to transfer money in all major currencies across the globe.

  • Dedicated relationship manager
  • Fast and easy international and domestic money transfers
  • Online banking access, giving full control of your finances

Read more about our terms and conditions

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Product Overview

Current Accounts


Bank currently offer business current accounts in GBP, EUR and USD

  • For GBP accounts you additionally get a debit card and a cheque book
  • Use online banking services for transferring funds within and outside of UK
  • No cash deposits, withdrawals, direct debits or standing orders can be made in the USD and Euro accounts

Global Payments and Receipts


We can help you send and receive money to and from abroad quickly, easily and cost-effectively via SWIFT.

Global Payments


Our clients can convert funds from their current account in GBP, EUR and USD (as source currencies) to USD, EUR, GBP, HKD, INR, AUD, SGD, CAD, JPY, AED, SEK, CHF (as destination currencies) at competitive exchange rates. Users can simultaneously remit funds in the destination currencies to beneficiaries across the globe through the SWIFT network

Likewise our clients can also receive funds in GBP, EUR and USD, HKD, INR, AUD, SGD, CAD, JPY, AED, SEK, CHF and convert it at competitive exchange rates to credit their Business Current Account with us

India payments: Enjoy fast and convenient money transfer service to more than 4874+ branches of ICICI Bank Limited and over 55,000 branches of other banks in India.

Domestic Payments and Receipts


Make payments within the UK through the following

Same Day Payments: Make or receive payments within UK in GBP through any bank

CHAPS: For amount greater than GBP 1,00,000.00 use CHAPS payment service to send or receive money to or from any bank in the UK. Charges for CHAPS payment to apply as per applicable rates

Cut Off Times


Please Note: Payment instructions received after the cut-off time or on a non-business day, will be processed on the next working day Please find below the cut-off times from our corporate internet banking platform

GBP Payments( Corporate Internet Banking Platform)

Same Day Payments

4:00 PM BST

CHAPS

1:00 PM BST

   

Currency Cut-off and execution times( Corporate Internet Banking Platform)

Currencies

Cut-off time for same day remittance

JPY

N.A (Next working day)

AUD

N.A (Next working day)

SGD

N.A (Next working day)

AED

N.A (Next working day)

HKD

N.A (Next working day)

USD

6:00 P.M. BST or 5 P.M. GMT as applicable

EUR

2:00 P.M. BST or 2:00 P.M. GMT as applicable

GBP

3:30 P.M. BST / 3:30 P.M. GMT as applicable

CAD

6:00 P.M. BST or 5 P.M. GMT as applicable

INR

12:30 A.M. BST or 11:30 A.M. GMT as applicable

CHF

11:30 A.M. BST or 10:30 A.M. GMT as applicable

SEK

1 P.M. BST or 12: P.M. GMT as applicable

 

Other Product Information


Withdrawal arrangement
  • No notice period required for cash withdrawals below £2000.
  • For withdrawals above £2000, one-day advance notice is required at the concerned branch
  • Charges apply for cash withdrawals refer to Rates and charges schedule
  • No restrictions on the number of withdrawals
Standing charges Refer to the Business Banking Rates and Charges Schedule
Minimum balance £ 5000 per month(In case of non-maintenance of minimum balance charges would apply)
Access Branch, Internet Banking
Other charges As per the Business Banking Rates and Charges Schedule

Key Information


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:

Customer Relations,
ICICI Bank UK PLC,
2nd Floor, One Thomas More Square,
London – E1W 1YN
Or
Email us at ukcustomerrelations@icicibank.com

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)?

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 businesses – are covered by the scheme.

In respect of deposits, from 30 January 2017, 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 us including their share of any joint account, and not to each separate account.

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.