Important update for fund transfers to HSBC retail accounts effective 9 May 2016
Please note the changes which will be applicable when you initiate payment instructions for fund transfers from your ICICI Bank Singapore account to HSBC accounts from 9 May 2016 onwards because The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (“HSBC Singapore Branch”) is subsidiarising its Retail Banking and Wealth Management business in Singapore (the “RBWM Business”).
|For fund transfers to HSBC retail accounts |
(Should be directed to the new Subsidiary)
|For fund transfers to HSBC corporate accounts
(Should continue to be directed to the existing legal entity)
|Bank’s full name:||HSBC Bank (Singapore) Limited||The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch|
|SWIFT Bank Identifier Code (BIC):||HSBCSGS2||HSBCSGSG|
|FAST bank description:||HSBC BANK (SINGAPORE) LTD||HONGKONG AND SHANGHAI BANKING CORP|
Insured Deposit Register, ICICI Bank Limited, Singapore Branch
ICICI Bank Limited, Singapore Branch
The following are deposit accounts which are eligible for deposit insurance coverage under the Deposit Insurance And Policy Owners’ Protection Schemes Act 2011 Singapore (the "Act") as amended from time to time. Any Singapore dollar deposit in this list held by or for an individual or a charity, will be insured up to the limits specified in the Act.
Call Deposit Account
HiSAVE Saving Account
HiSAVE Fixed Deposit
Deposit Insurance Scheme
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.
Update to GTC (February 1, 2016)
Important Update for Change in General Terms and Conditions Governing Accounts and Facilities
Please note that the General Terms and Conditions Governing Accounts and Facilities of ICICI Bank Limited, Singapore Branch (“GTC”) (last amended on June 1, 2015) has been revised (with modifications), and the updated version of the GTC has been uploaded on the website and shall be effective from February 1, 2016.
Update for Internet based remittances (December 8th ,2015)
Important update for Internet based remittances effective December 8th 2015.
Please note that remittance transactions to India through Internet banking facility will be disbursed same day to any bank in India subject to operational cut off**
Transaction request received on a working day upto 4 pm SGT shall be processed same day, transaction request received post 4 pm SGT shall be processed the next working day (working day for the purpose of such transfers is defined as a working day in Singapore and India).
Update on Zurich Life Insurance (Singapore) Pte. Ltd
Zurich Life Insurance (Singapore) Pte. Ltd will cease to accept new policy applications from December 1, 2015. As such, ICICI Bank Limited, Singapore Branch will no longer be accepting new policy applications from the same date which includes applications for ZProtect, ZProtect Prestige and ZCare plans. Please visit Zurich Life Singapore’s website at www.zurich.com.sg for more information. Please note that this cessation will not have any impact on its existing customer policies.
Update on Change in Schedule of Charges (February 1,2016)
Important Update on Change in Schedule of Charges
Please note that the Schedule of Charges of ICICI Bank Limited, Singapore Branch ("SOC") (last amended on April 1, 2015) has been revised to include without premature withdrawal option for fixed deposits and the updated version of the SOC shall be effective from February 1, 2016.
Update on the Immediate Payment Service (“IMPS”)
The Immediate Payment Service (“IMPS”) disbursement mode from ICICI Bank Singapore branch International money transfer has been temporarily discontinued. We shall intimate you through an update on the website, once we resume this service.
Update on GIRO” (March 23,2015)
Please be informed that the Interbank GIRO infrastructure will be upgraded with effect from March 23, 2015 to serve you better. Click here to find out the key improvements that will be made available to you soon.
Q1. 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).
Q2. What are the benefits of this upgrade?
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
Q3. 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||Bank Code||Branch Code||Account Number||SWIFT/BIC||Account number|
|All other banks||NA||NA||58901234||SWIFTCode||58901234|