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. You can withdraw funds from you Affinity Account through the personalized cheque book facility or by walking in to our branches.
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 Balance||Administrative charge for the respective month|
|250 currency units and above||0|
|0 –250 currency units||3|
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.
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
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 Balance||Administrative 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|
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$50,000 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 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.
- 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.
- 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 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:
- 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.
- 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:
- 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;
- 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)
- 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.
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 firstname.lastname@example.org
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 email@example.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:
- Cash and cheque deposits into the account;
- Cash and cheque withdrawals;
- Issue of fresh cheque book;
- Change of address and contact details;
- Inward and Outward remittance;
- 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.
What are the various transaction limits on Internet banking?
The following transaction limits are applicable on Internet banking:
|S.no||Transaction Type||From Account||To Account||Currency||Maximum Limit in currency units||Frequency|
|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.no||Branch Name and Address||Branch Code||SWIFT code||Currency||Category|
|1.||Raffles Quay –6 Raffles Quay, #01-02,Singapore-048580||8871||ICICSGSGXXX||SGD||Retail Banking|
|2.||190 Serangoon Road Singapore 218064||8873||SGD|
|3.||Private Banking Customers||8881||ICICSGSGXXX||SGD||Private Banking|
|8882||All currencies except SGD|
What are the various transaction codes?
The various transaction codes that reflect in your statement are as follows:
|S.no||Transaction Type||From Account||To Account||Narration format||Sample 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.no||Transfer Amount||Type 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.no||Transfer Amount||Type 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 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 Name||Current||Post Upgrade|
|Bank Code||Branch Code||Account Number||SWIFT/BIC||Account number|
|All other banks||NA||NA||58901234||SWIFTCode||58901234|
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.
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?
The limit of SGD 50,000 per transaction applies to all FAST participating banks. We are unable to increase the limit per transaction. However, please note that the maximum amount you may transact a day is still subject to your current personalized daily limit, which may be lower.
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.
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:
- Transaction receipt number,
- Debiting Account number,
- Receiving Bank and
- Receiving Account Number
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.