Current Account

Cheque Discontinuation – Retail Banking Customers

Is there any impact on me?


Yes. You will not be able to issue cheques after 15 May 2020. However, there is no impact on you if you do not have a cheque book.

Will I still be able to use my existing cheque book?


Yes, you will still be able to use your existing cheque book till 15 May 2020, post which you should not use the same. Further, you are required to destroy your cheque leaves after 15 May 2020.

Using ICICI Bank cheque leaves after 15 May 2020 will attract premium charges or fees.   Further, if there is any fee or penalty charged to ICICI Bank on account of your using the cheque,  the same shall be passed onto you as per your obligations under the General Terms and Conditions Governing Accounts and Facilities, as made available and updated from time to time on our website and available here for ready reference

What if I need to use cheque to make a fund transfer?


You will no longer be able to use cheques for funds transfer after 15 May 2020. You can use internet banking for the same and transfer via FAST/eGIRO.

What are the alternative ways that I can do my banking transactions?


You may bank with us through any of the following channels:

  • Online Banking: Bank from the comfort of your own home or office with our online banking services.
  • Phone Banking: Call our Contact Centre to check your balances, fixed deposit maturity dates or make a remittance to India via Call & Remit (only for individual account holders) to pre-registered beneficiaries.
  • Branch: Visit us at our Raffles Quay branch.

How can I make a personal fund transfers?


You may transfer your funds with us through any of the following channels:

  • Online Banking: Bank from the comfort of your own home or office with our online banking services.

How can I make a remittances to India?


You may remit with us through any of the following channels:

  • Online Banking: Bank from the comfort of your own home or office.
  • Phone Banking: Make a remittance request through the telephone with one of our Customer Service Officers for remittances to India via Call & Remit facility (only for individual account holders) to pre-registered beneficiaries in India.
  • Money2India: Register and transact with Money2India (https://money2india.icicibank.com/newm2iNetSIN/) from the comfort of your home or office (only for individuals).
  • Branch: visit us at our Raffles Quay branch.

What can I do if I want to do a transaction on a weekend?


  • Online Banking: Bank from the comfort of your own home or office with our online banking services.
  • Phone Banking: Make a remittance request through the telephone with one of our Customer Service Officers for remittances to India via Call & Remit facility (only for individual account holders) to pre-registered beneficiaries in India.
  • Money2India:Use Money2India (https://money2india.icicibank.com/newm2iNetSIN/) for remitting to India (only for individuals).
  • Branch: Visit us at our Raffles Quay branch.

How can I close my account?


Kindly visit our Raffles Quay branch or call our toll free Contact Centre at 8001012553 (If you are calling from Singapore) or (65) 67239009 (If you are calling from outside Singapore. Call charges may apply) 7 days a week, between 08:00 - 18:00 hrs (IVR Option 1).

I do not have online banking. What should I do?


Kindly visit our Raffles Quay branch or call our Contact Centre to enable your internet banking services.

What is Call & Remit?


Call and Remit is a facility offered to individual customers of the Branch holding a current account, to provide instructions in the form of a remittance request over the telephone call to transfer and/or remits funds to a registered beneficiary's bank account in India.

Please click here for more information.

Cheque Discontinuation – Corporate Banking Customers

Is there any impact on the SGD account maintained with ICICI Bank?


Yes. You will not be able to issue cheques post 15 May 2020. However there is no impact on you if you do not have a cheque book.

Will I still be able to use my existing cheque book?


Yes, you will still be able to use your existing cheque book till 15 May 2020, post which you should not use the same. Further you are required to destroy your cheque leaves as they should not be used. Using ICICI Bank cheque leaves post 15 May 2020 will attract premium charges or fees.  Further, if there is any fee or penalty charged to ICICI Bank on account of your using the cheque, the same shall be passed onto you as per your obligations under the General Terms and Conditions Governing Accounts and Facilities, as made available and updated from time to time on our website and available here for ready reference

What if I need to use cheque to make a fund transfer?


You will no longer be able to use cheques for fund transfer after 15 May 2020.

What are the alternative ways that I can do my banking transactions?


  • Online Banking: Bank from the comfort of your own home or office with our online banking services.
  • Contact your Relationship Manager or visit our Republic Plaza office (Monday to Friday, 0900 hrs-1800 hrs).
  • Email/Fax: Send instructions as per your arrangement with ICICI Bank.

How can I close my account?


Kindly get in touch with your Relationship Manager or visit our office at Republic Plaza.

I do not have online banking. What should I do?


Kindly get in touch with your Relationship Manager or visit our office at Republic Plaza.

Affinity Current Account

What is an Affinity Current Account?


The Affinity Current Account (“Affinity Account” or “Affinity”) is designed to provide you with easy linkages back home in India from ICICI Bank Limited, Singapore Branches (“ICICI Singapore”).

ICICI Singapore's Affinity Account can be used as a standalone transactional account or can be linked to your fixed deposit or savings account.

In what currencies can one open an Affinity Account? What is the minimum balance requirement?


You can open an Affinity Account in Singapore Dollars ("SGD"), United States Dollars ("USD"), Australian Dollars ("AUD") and/or Euros ("EUR"). There is no minimum balance requirement to operate your Affinity Account. However, if the total monthly average balance of all your accounts with us such as the Affinity Account, savings account and fixed deposit falls below 250 currency units, the following charges will apply:

 

Total Monthly Average BalanceAdministrative charge for the respective month
250 currency units and above 0
0 –250 currency units 3

 

*Please note that if the Affinity Account is the only account that you have under a particular Customer ID with ICICI Singapore, you would be required to maintain a minimum balance of 250 currency units in such account(s).

Is any interest paid on the account?


There is no interest paid on the Affinity Account. You can choose to open a linked Savings account (only in SGD) to earn interest on surplus funds.

How will I be able to view my account statement from my internet banking page?


You are able to view or download your account statement from your internet banking page under the section Account Statement (PDF).

 

Please note that you will be able to view or download your account statement only if you have done any transaction in operative accounts during the respective month. Kindly contact our call centre or visit any of our branches if you wish to receive your account statement regardless if you have done any transaction.

If you only hold a fixed deposit with ICICI Bank, the Deposit Confirmation Advice ("DCA") provided to you provides the details of your deposit with us.

Will I be provided a cheque book with the account?


No cheque books are provided.

Is there any overdraft facility on the account?


No overdraft facility is provided on the Affinity Account.

What are the various charges applicable for a Current Account?


The service charge payable for the account will be communicated by the Bank from time to time, and is also detailed in the Schedule of Charges

Can non-individual customers open an Affinity Account?


Non-individual customers can open a regular Current Account. The Monthly Average Balance ("MAB") requirements for a regular current account are SGD1, 000. The customer can choose to open an account in SGD, USD, AUD and/or EUR.

What is the minimum balance requirement for non-individual current accounts?


There is no minimum balance requirement to operate a Current Account. However if the total monthly average balance of all your accounts with us such as Current Account, Savings Account and Fixed Deposit falls below 1,000 currency units, the following charges will apply:

 

Total Monthly Average BalanceAdministrative charge for the respective month
1,000 currency units and above No Fee
500 – 1,000 currency units 3
500 currency units and below 5

 

*Please note that if such Current Account is the only account that you have under a particular Customer ID with ICICI Bank, you would be required to maintain a minimum balance of 1,000 currency units in such account(s).

Are monies in the current account insured?


Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

India Banking service for Affinity Current Account

How do I link and de- link my India account?


It’s Simple! Just follow the following steps-

  • Login to the ICICI Bank Singapore internet banking
  • Click on ‘India banking tab”
  • Click on ‘LINK YOUR NR ACCOUNT’

From thereon follow the on screen instructions and within three business days your request will be processed.

You can also choose to de-link your NR Account at anytime by clicking on ‘DE-LINK YOUR ACCOUNT’ and by following the on screen instructions.

How long does it take to link my India account?


Once we receive a completed request your account will be linked within three business days.

Can I make transactions in my India account post linking?


You will only be able to view balances and mini statements (the previous 10 transactions). You will not be able to carry out any transactions in the India account.

Which accounts can be linked to my Singapore account?


Only Non-Resident accounts held with ICICI Bank Ltd., can be linked to your Singapore account.

Which account will I be able to view post linking?


You will only be able to view the savings and deposit accounts post linking. You will not be able to view other accounts like the Demat, Home Loan,credit card or any other accounts.

Can I place a request to link my India accounts over the phone or at a branch?


The request for linking account can only be submitted online. You can visit our branches or call us to know more about the process of linking accounts.

How long does it take to de-link my India account?


Once we receive a completed request, the account will be de-linked within three business days.

Can I use this service if I have a HiSave account?


The service is currently available to Affinity Current Account holders only. We will inform you as and when the service is extended to other account types.

What do I do if I have opened a new account under the same customer ID?


You will be able to view your account details without making any new requests once the account is opened.

What do I do if I see an incorrect transaction?


For any discrepancy in your balance or statement please contact ICICI Bank Ltd. You can call them on 8001012553 and select IVR Option 2 for NRI Services.

Account Opening

How can I apply for an Affinity Current Account and what are the documents I need to submit?


It is quite simple to apply for Affinity Current Account. Please visit any of our branches, fill the Account Opening Form and furnish the following supporting documents.

  1. Proof of Identity:
    • Singapore Citizens / Permanent Residents - Copy of pink / blue NRIC card
    • Singapore Residents (Other than Permanent Residents) - Copy of documents issued by the relevant Government Agencies/ Ministries in Singapore (eg: Employment Pass) and Passport.
    • Singapore Non Residents - Copy of Passport.
  2. Proof of Residential Address :E.g. latest copy of utility bills, bank statements etc - issued within the last 3 months.

 

Please carry the originals of the above mentioned documents with you so that our staff may verify the same.

Can I have the Affinity Account in joint names?


Yes, you can hold the Affinity Account in joint names, to a maximum of four account holders. The account operations shall be in accordance with the instructions provided at the time of account opening for mode of operation of account.

Whom can I contact to open a Current Account with ICICI Bank?


Please visit our branches and meet our Customer Service representatives.

Can a non-resident of Singapore open an Affinity Current Account?


The Affinity Current Account is only for individuals resident in Singapore. However, non-resident customers can open Fixed Deposits with ICICI Singapore.

How can I pay for the initial account opening?


At the time of account opening, you can make the initial account opening deposit by cheque, cash or by swiping your NETS card. Please note that the cash and NETS transactions should be done only at ICICI Singapore branches through the available NETS terminal

How will the initial funds (for account opening) be returned if the account opening form is declined or rejected by ICICI Singapore?


In case the account opening form is declined and/ or rejected, ICICI Singapore will inform you through post, phone or mail (based on the details as provided by you on the account opening form at the time of account opening) as applicable about the rejection of your account opening form. The refund of funds deposited for initial funding at the time of account opening will be as indicated below.

  • For non-account holders: The funds deposited by the applicant at the time of account opening (for initial funding of the account) will be refunded to the applicant within a period of 7 working days from the date of rejection of the account opening form, in the following manner:
    1. In case of cheque and/ or NETS based funding: The funds deposited will be refunded by ICICI Singapore by providing a cashier's order in the applicant's name at the applicant's registered communication address (i.e. the address designated by the applicant as his/ her communication address in the account opening form at the time of account opening) by courier or post.
    2. In case of cash based funding:The funds deposited will be refunded by ICICI Singapore to the applicant by providing a cashier's order of the amount equivalent to the funds deposited at the time of account opening.
  • For existing account holders (for subsequent account opening): For account holders, reversal of funds can be by either of the following means:
    1. In case of deposit of funds by a debit instruction: Reversal of funds will be by crediting the customer's existing account with the equivalent amount;
    2. In case of initial account funding by cheque or NETS transaction: The funds deposited will be refunded by a cashier's order in the customer's name and sent vide courier or post at the customer's registered communication address (if the account opening is initiated bydepositing a cheque or vide a successful NETS transaction)
    3. In case of account funding by cash: ICICI Singapore will return the funds deposited by cash to the customer by providing a cashier's order of the amount equivalent to the funds deposited at the time of account opening.

Account Servicing

Whom do I contact for any grievances on product or service issues?


For service or product related issues, you may contact our Customer Service Managers at our branches or write to us at sg.service@icicibank.com

 

For any complaints, you may write to our Complaint Officer by addressing your complaint/ grievance to: The Complaint Officer, ICICI Bank Limited, 6 Raffles Quay, Level 1, John Hancock Building, Singapore or by email on sg.complaints@icicibank.com

How can I avoid dormancy on my accounts?


Accounts become dormant if there are no customer-induced transaction (debit or credit) for a period of 12 months. To avoid such instance please ensure that there are regular transactions in your account like:

  1. Cash and cheque deposits into the account;
  2. Change of address and contact details;
  3. Inward and Outward remittance;
  4. Booking of Fixed deposit from dormant account.

 

Please note if the account is dormant, we will be unable to send any account statements.

My account has become dormant/inactive. How can I activate it?


You need to simply visit either of our branches with your valid ID and residential address proof for verification. You will also need to give a written request for activation of your account.

 

Post receipt of the completed request, your account will be activated within 24 hours.

Funds Transfer

What are the various transaction limits on Internet banking?


The following transaction limits are applicable on Internet banking:

 

S.noTransaction TypeFrom AccountTo AccountCurrencyMaximum Limit in currency unitsFrequency
1. Fund transfer ICICI Current Account Account with any bank in Singapore SGD 50,000. Daily*
2. Fund transfer ICICI Savings Account Self current account with ICICI Bank SGD 249,999 Daily*
3. Fund transfer ICICI Current Account Current Account within ICICI Bank SGD SGD 50,000 Daily*
4. Fund transfer Hisave savings account Linked account of Hisave with any other bank in Singapore SGD 50,000 Daily*
5. Remittance to India ICICI Current Account Registered payee with any Bank in India SGD,USD 25,000 Daily*

What are the Branch codes for ICICI Bank?


The following branch codes are applicable for ICICI Bank Singapore:

 

S.noBranch Name and AddressBranch CodeSWIFT codeCurrencyCategory
1. Raffles Quay –6 Raffles Quay, #01-02,Singapore-048580 8871 ICICSGSGXXX SGD Retail Banking
8872 USD,AUD,EUR
2. 190 Serangoon Road Singapore 218064 8873 SGD
8874 USD,AUD,EUR

 

S.noOthersCodeSwift CodeCurrencyCategory
3. Private Banking Customers 8881 ICICSGSGXXX SGD Private Banking
8882 All currencies except SGD

 

When does the fund transfer limit get reset?


Daily Funds Transfer limit for a particular day is reset at 12:00 AM Singapore time.

Can I change my fund transfer limit?


Yes you can modify the limit to a value lower than what is offered by the bank using the “Update transfer limits” tab and following instructions online.

What are the various transaction codes?


The various transaction codes that reflect in your statement are as follows:

 

S.noTransaction TypeFrom AccountTo AccountNarration formatSample Narration
1. Fund transfer ICICI Current Account Account with any bank in Singapore BIL/12 digit trans action reference number/Date and time /SW Transaction reference number is 145 executed on 24 October 2012 the narration will be -BIL/000000000145/24-10-2012 17:40:54/SW
2. Fund transfer ICICI Savings Account Self current account with ICICI Bank TRTR/12 digit trans action reference number/Date and time /SW Transaction reference number is 178 executed on 24 October 2012 the narration will be - TRTR/000000000178/24-10-2012 17:40:54/SW
3. Fund transfer ICICI Current Account Current Account within ICICI Bank SGD SWY/Remarks Remarks set as - Savings SWY/Savings
4. Fund transfer Hisave savings account Linked account of Hisave with any other bank in Singapore SWY/Remarks Remarks set as - consolidated SWY/consolidated
5. Remittance to India ICICI Current account Registered payee with any Bank in India IRM/FIO8 digit transaction reference number/REM/Date and time Transaction reference number is SRI01234567 executed on 2 Feb 2012 the narration will be -IRM/FIOSRI01234567 /REM/20120210124224

What kind of transaction signing is applicable on my fund transfers?


The transaction signing required for a transaction depends on the amount that you are transferring. Please be guided by the grid below-

 

Local Fund transfer

S.noTransfer AmountType of verification applicable
1. From 1 to less than 2001 Onekey device based OTP
2. From 2001 to less than 25001 Transaction signing password using Onekey device with one input parameter
3. From 25001 to less than equal to 50000 Transaction signing password using Onekey device with two input parameters

 

Remittance to India

S.noTransfer AmountType of verification applicable
1. From 1 to 2000 Onekey device based OTP
2. Greater than 2000 and less than 25000 Transaction signing password using Onekey device with one input parameter

What is the GIRO upgrade about?


This is an industry wide enhancement of the current interbank GIRO payment infrastructure led by the Association of Banks in Singapore (ABS).

What are the benefits of this upgrade?


The benefits that are available after the upgrade are:

  • Ease of setting up payment instructions without the need for a bank branch code
  • Introduction of new Purpose code and Reason codes
  • Ability to pay credit or charge cards with other banks
  • Greater clarity of payment instruction in bank statements

Will my bank account number be changed?


Your bank account number will not be changed. However when you are adding payee for fund transfer please note that for HSBC, OCBC and State Bank of India (SBI), you will need to incorporate the branch into the account number field after the upgrade. The full account number will be expanded to include the branch code followed by the existing account number for these 3 banks, please remember to use the new account number going forward.

See below for an example:

Bank NameCurrentPost Upgrade
Bank CodeBranch CodeAccount NumberSWIFT/BICAccount number
HSBC 7232 146 12345678 HSBCSGSGXXX 14612345678
SBI 7791 277 34567891 SBINSGSGXXX 27734567891
OCBC 7339 550 45678901 OCBCSGSGXXX 55045678901
All other banks NA NA 58901234 SWIFTCode 58901234

 

FAST FAQ

What is FAST?


FAST (Fast And Secure Transfers) is a new electronic funds transfer service that enables customers to transfer SGD funds almost immediately from one participating bank to another in Singapore.

How do I perform a FAST transaction?


After logging into your internet banking using Login ID and password, at the Funds Transfer (Interbank Funds Transfer) page, when entering the details of your payment, the FAST option will be available if the beneficiary bank is one of the FAST participating banks. Tick on the box [FAST (Fast and Secure Transfer)], complete the remaining fields and proceed to submit the transaction.

Can I make funds transfer from a FAST participating to a non-FAST participating bank?


No, FAST only enables funds transfer between accounts of the 19 participating banks in Singapore. Funds between a participating and a non-participating bank may be transferred via Interbank GIRO.

Are FAST transfers secure?


FAST is secure and adopts the same security standards established by the banking industry in Singapore for funds transfers.

Can I use FAST if I have the payee’s name only and not the account number?


No, the payee’s bank account number is required for FAST transfer.

I have an existing payee where the beneficiary bank is one of the participating banks. Do I still need to create new payee to perform a FAST transaction?


No, if you have already added the designated payee previously; you may simply click on the Fund transfer link to transfer funds to the payee and then select FAST to perform the FAST transaction.

What is the limit per transaction, can I request for a further increase in the limit?


Effective Feb 5th 2018 using FAST you can-

  • Receive upto SGD 200,000
  • Send upto SGD 50,000

However, please note that the maximum amount you may send out in a day is still subject to your current personalized daily limit, which may be lower.

Why can't I choose FAST for my transaction?


You will not be able to choose FAST if the beneficiary bank is not one of the FAST participating banks.

Why do I have to fill in Purpose of Transfer?


The purpose of transfer field is required to be filled in for FAST transactions, and the purpose code that you have selected will be reflected in the account transaction history for each FAST transaction, for your easy reference.

Can I perform a future dated FAST transaction?


Yes.

Can I have a recurring FAST transaction?


Yes. Please note that the start date for any recurring transaction cannot be the same day. The earliest start date is the following day.

I encountered the following error message, what does it mean?


*The selected bank is currently unable to accept FAST transactions. You may choose to use the 3rd Party Funds Transfer service instead which may take 2 - 3 working days. Alternatively, please try again later.

 

The beneficiary bank is currently unable to accept FAST transactions. You may choose to effect the funds transfer using the 3rd Party Funds Transfer (Interbank Funds Transfer) service, which may take two to three working days. Alternatively, you may try again later.

What does the status of the transaction mean?


There are 4 types of transaction status:

  • Submitted - Payment instruction has been received but not processed.
  • Successful - Payment is successful.
  • Rejected - Payment is unsuccessful.
  • Scheduled - Payment instruction has been received for payment to take place on a future date.

What is the implication of the FAST transaction narration


It contains:

  1. the payment name FAST;
  2. the 4-character code for the purpose of the transfer;
  3. Rejected - Payment is unsuccessful.
  4. the beneficiary account number; and
  5. the remarks entered.

I noticed a reversal transaction for FAST transaction, why is it so?


The FAST transaction that you have performed has been rejected by either the beneficiary bank or the FAST operator. Hence the transaction has been reversed.

 

The reason for the rejection will be notified to you via a message sent to your online banking mailbox.

I submitted a FAST transaction more than 5 minutes ago and the status of the transaction still shows as ‘SUBMITTED’. What do I do?


Please contact the Bank, and provide us with the following information:

  1. Transaction receipt number,
  2. Debiting Account number,
  3. Amount
  4. Receiving Bank and
  5. Receiving Account Number

General FAQ

Is there any minimum age to open the account?


We currently offer accounts to persons above 18 years of age.

In which language can I communicate with the Bank?


English is the language of communication for any communication with the bank.

Money Transfer FAQ

Are there any money transfer related FAQs that I may refer to?


Yes, you may visit for the FAQs on money transfers.

ePayments User Protection Guidelines

What is the purpose of the ePayments User Protection Guidelines?


It is to establish a common baseline protection for individuals or sole proprietors from losses arising from isolated unauthorised transactions or erroneous transactions from the protected accounts of these account holders.

What is a protected account?


A protected account means any payment account that
a) is held in the name of one or more persons who are either individuals or sole proprietors;
b) is capable of having a balance of more than $500 (or equivalent amount expressed in any other currency) at any one time, and
c) is capable of being used for electronic payment transactions.
For ICICI Singapore customers, protected accounts would include the Affinity current account and Savings account.

What are your duties as an account holder/account user?


You shall be responsible for the following:

 

A.Transaction Notifications

  • providing ICICI Singapore with a complete and accurate Singapore mobile phone number and email address;
  • opting to receive all transaction notifications for all outgoing transactions of any amount;
  • enabling transaction notification alerts on any device used to receive transaction notifications from ICICI Singapore;
  • monitoring all transaction notifications;

 

B.Protect access codes

  • do not voluntarily disclose any access code to any third party;
  • do not disclose the access code in a recognisable way on any payment account, authentication device, or any container for the payment account;
  • do not keep a record of any access code in a way that allows any third party to easily misuse the access code;
  • If you keep a record of any access code, you should make reasonable efforts to secure the record, including keeping it in a secure location accessible or known only to account user and unlikely to be found by a third party.

 

C.Protect access to protected account

  • Update the device’s browser such as Chrome, Safari, Internet Explorer, Firefox to the latest version available;
  • Patch the device’s operating systems such as Windows operating system (OS), Macintosh OS, iOS and Android OS, with regular security updates provided by the operating system provider;
  • Install and maintain the latest anti-virus software on the device, where applicable; and
  • Use strong passwords, such as a mixture of letters, numbers and symbols. You and your account users are to look out for and follow security instructions /advice provided by ICICI Singapore from time to time.

 

D.Report unauthorised transactions

 

You shall report any unauthorised transactions to ICICI Singapore as soon as practicable after the receipt of any transaction notification alert for any unauthorised transaction. Where you are unable to do so, ICICI Singapore may require you to provide reasons for the delayed report. This might include time periods or circumstances that led to the delayed reporting.

 

E.Provide information on unauthorised transaction

 

You shall within a reasonable time provide ICICI Singapore with all information as may be requested by ICICI Singapore in order to facilitate ICICI Singapore’s investigation of the unauthorised transaction. Such information requested may include the account affected, the account holder’s identification information including the name or identity of any account user for the protected account, the date and time of the loss or misuse of the authentication device, or access code that was lost, stolen or misused , the type of authentication device, access code and device used to perform the payment transaction and any other information about the unauthorised transaction that is known to the account holder

 

F.Make police report

 

You shall furnish ICICI Singapore with a police report if ICICI Singapore requests for such a report to be made to facilitate its claims investigation process. ICICI Singapore may also require the police report to be furnished in respect of unauthorised transaction claim, before the before ICICI Singapore begins its claims resolution process.

How will I receive the transaction alerts?


The transaction alerts service is available to all customers with a Current/Savings account. The alerts will be sent by SMS on the mobile phone number registered with ICICI Singapore. Each transaction alert is triggered at the time of transaction and will contain information relating to the relevant transaction details such as the transaction date, reference number and the transaction amount.

For joint accounts, who will receive the alerts?


ICICI Singapore will send the alerts to the account holder who is registered as the main applicant as indicated in the account opening form.

Will I be prompted to confirm my payment instructions and recipient details before the transaction is executed?


Where applicable, ICICI Singapore will provide an onscreen opportunity, which will contain information relating to the relevant transaction and recipient details such as protected account to be debited, the intended transaction amount recipient’s account number or name, for you to confirm the payment transaction and the recipient credentials before the relevant payment transaction is executed by ICICI Singapore.

What is the impact of setting a higher limit for transaction alerts?


You will only receive alerts where the transaction amount is higher than > 0.1 SGD. Please ensure that you update your current mobile number with ICICI Singapore so that you are alerted to unauthorised transactions should they arise and are able to report these unauthorised transactions promptly or to take steps to secure your account and prevent further losses in a timely manner. This will affect the extent to which you are liable for losses arising from the unauthorised transactions. Please take into consideration your responsibilities and liabilities under the E-payments User Protection Guidelines for unauthorised transactions at all times in your dealing with ICICI Singapore.

What are my liabilities for losses arising from unauthorized transactions?


This is applicable to your ICICI Affinity current account and saving account -

  • You shall be liable for loss where the primary cause of the loss is the account user’s recklessness. Recklessness include the situation where any account user deliberately did not comply with the duties of account holders and account users in the E-payments User Protection Guidelines. The account user is expected to provide information to ICICI Singapore to determine whether any account user was reckless. The actual loss that the account holder is liable is capped at the applicable transaction limit or daily payment limit on the protected account.
  •  You shall not liable for loss if:
    • the loss arises from any action or omission by ICICI Singapore and does not arise from any failure by any Account user to comply with any duties of account holders and account users set out in the E-payments User Protection Guidelines or;
    • an unauthorised transaction that does not exceed $1,000, if the loss arises from any action or omission by any third party and does not arise from any failure by any account user to comply with duties of account holders and account users set out in the E-payments User Protection Guidelines. You will be liable for unauthorized transactions that exceed $1,000.

How can I report an unauthorized or erroneous transaction?


Please visit  ICICI Singapore’s branch in Singapore during usual business hours or call ICICI Singapore’s 7 day a week hour customer service hotline to report any unauthorised or erroneous transactions as soon as practicable after the receipt of any transaction notification alert for any unauthorized or erroneous transaction. You will receive a written acknowledgement of the report and no fee will be charged by ICICI Singapore for making the report. Click here to know details of how to contact us.

I have reported an unauthorized transaction. When will I know the outcome of ICICI Singapore’s assessment of my claim?


ICICI Singapore will complete our assessment of your claim within 21 business days upon receiving sufficient information from the account holder to complete the investigation for straightforward cases. For complex cases, this may take up to 45 business days. Complex cases may include cases where any party to the unauthorized transaction is resident overseas or where insufficient information has been provided to bank for purposes of the claims investigation. If ICICI Singapore’s assessment is that the account holder is not liable for any loss arising from the unauthorized transaction, ICICI Singapore will credit the account holder’s protected account as soon as this conclusion is reached.

I have reported an erroneous transaction. When will I know the outcome of ICICI Singapore’s recovery of my claim?


ICICI Singapore will make reasonable efforts to facilitate communication between you and the recipient with the aim to improve your chances of recovering the payment amount sent through the erroneous transaction. However, ICICI Singapore may take longer to convey instructions in complex cases such as where any party to the transaction is resident overseas or where ICICI Singapore has not received sufficient information from you to convey instructions. For the purposes of assisting ICICI Singapore to recover sums sent in error, you should provide ICICI Singapore with information as requested by ICICI Singapore which may include the account affected, the account holder’s identification information including the name or identity of any account user for the protected account, the date and time of the loss or misuse of the authentication device, or access code that was lost, stolen or misused ; the type of authentication device, access code and device used to perform the payment transaction; the recipient’s unique identifier, including account number, identification number, name or other credentials entered by the account user; the date, time, amount and purpose of the erroneous transaction insofar as such information is known to the account user any other information about the unauthorised transaction that is known to the account holder.