Terms and Conditions for money transfers to India
These Terms and Conditions (the “Terms and Conditions”) apply to money transfers to India through
various modes – ICICI Bank Mobile Banking App, online money transfer, money transfers through
phone banking, a branch or by standing order.
These Terms and Conditions are divided into two sections: specific terms and conditions applicable to
the relevant mode of money transfer and common terms and conditions applicable to all the modes of
transfer. The specific and common terms and conditions should be read together.
The words “we”, “us”, “our” and words with similar meaning refer to ICICI Bank UK PLC (“ICICI Bank”)
These Terms and Conditions are in addition to the Personal Banking Terms and Conditions and
HiSAVE Remittance Account Terms and Conditions offered by ICICI Bank to Customers and are
available on our Website. If there is any inconsistency between the Personal Banking Terms and
Conditions and HiSAVE Remittance Account Terms and Conditions and these Terms and Conditions,
the latter shall prevail.
A customer agrees to be bound by these Terms and Conditions, which may be amended, modified or
supplemented at any time by ICICI Bank. Any changes in the Terms and Conditions will be posted
and updated on the Website.
Definitions
“Beneficiary” refers to a registered person to whom a Customer transfers funds through
HomeVantage Current Account or HiSave Remittance Account;
“Customer” refers to a person who has a HomeVantage Current Account or HiSAVE Remittance
Account holder with us;
“Extra Credit” refers to additional amount which will be received in the Beneficiary’s account
“Offer” refers to the 10 paise preferential rate offered on prevailing exchange rate being offered to
Customers.
“Promotion Period” refers to the time period of the Promotion starting from 12:00 am on May 1,
2020 until midnight on September 30
th
, 2020
“Successful Transaction” refers to a transaction where the Beneficiary’s account is credited with the
amount transferred by the Customer.
“Repeat Transaction” refers to a transaction which is initiated by Customer within 30 days of a
Successful Transaction during the Promotion Period
“Website” refers to the website of ICICI Bank as made available online at www.icicibank.co.uk
“Branch(es)” refers to the branch offices of ICICI Bank in the United Kingdom at Birmingham, East
Ham, Harrow, London, Manchester, Southall and Wembley.
A. How to Avail Offer?
This Promotion is available on every Repeat Transaction initiated by a Customer during the
Promotion Period(within last 30 days) This transaction can be initiated using any channel of ICICI
Bank UK Plc.
B. Offer Details
Under this Offer, upon compliance with the terms and conditions, the Customer shall be eligible for
10 paise extra on the GBP-INR exchange rate applicable at the time of each RepeatTransaction initiated
during the Promotion Period. The Promotional Credit would be credited into the respective Beneficiary
account along with the transaction requests on the same day.
C. Specific Terms and Conditions
1. A Customer will be eligible to receive preferential rate of 10 paise when he initiates a transaction
within 30 days of last transaction date during the Promotion Period. For example a customer
initiating his first transfer on May 10, 2020 he is eligible to receive 10 paise Preferential rate on
his next transaction on or before June 9, 2020 but a customer is initiating a transfer on Sep 15,
2020 then he is only eligible to receive preferential rate upto Sep 30, 2020 where the Promotion
Period ends.
2. The Preferential Rate will be available to all the Customer of the Bank at the time of each
Successful Transaction made through the Website, Mobile Banking App, money transfers
through a branch or phone banking.
3. If the Customer is eligible for a preferential rate under any other offer provided by us, the
higher rate will be applicable. For e.g. If you transfer money using ICICI Bank Mobile Banking
App and at the same time the Bank is providing an offer where you will receive 50 paise extra
on the GBP-INR exchange rate. In such cases the customer will get an exchange rate which is
higher i.e. 50 paise and not 20 paise. Please note you will not receive 70 paise extra i.e. 20 paise
plus 50 paise on the GBP-INR exchange rate.
4. There are no minimum transfer requirements for the Preferential Rate to be applied. All
communication should be addressed to ukservice@icicibank.com
5. This Preferential Rate is not available for money transfers to India made through
Money2India.com and Money2Home.co.uk
6. The above mentioned features are non-transferable and non-negotiable and may be withdrawn
without any notice period.
7. We shall not be liable for any failure to comply with our obligations to transfer the 10 paise
preferential rate where such failure is caused by something outside its reasonable control. Such
circumstances shall include, but not be limited to, weather conditions, fire, flood, hurricane,
strik
e,
industrial dispute, war, hostilities, political unrest, riots, civil commotion, inevitable accidents,
supervening legislation or any other such circumstance.
8. These Terms and Conditions are governed by and construed in accordance with laws of England
and Wales and all disputes shall be subject to the jurisdiction of the competent courts of England
and Wales.
