ICICI Bank UK launches instant current account for mobile platforms. Customers simply need to download the Bank’s mobile application called ‘ICICI Bank UK iMobile’. They do not need to visit a branch and know your customer (KYC) information is conducted electronically, enabling the account to be activated instantly which allows customers to start transacting immediately…. reports Asian Lite News
ICICI Bank UK PLC has announced the launch of a digital account opening facility that allows customers to open a personal current account instantly using the Bank’s mobile application. The first-of-its-kind service by an Indian bank in the United Kingdom (UK), it enables Non-Resident Indians (holding an Indian or British passport) and expatriate Indians (holding an Indian passport) and moving to the UK for work, to open a current account.
ICICI Bank UK PLC is a 100% subsidiary of ICICI Bank Limited and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ICICI Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS).
Customers simply need to download the Bank’s mobile application called ‘ICICI Bank UK iMobile’. They do not need to visit a branch and know your customer (KYC) information is conducted electronically, enabling the account to be activated instantly which allows customers to start transacting immediately.
iMobile provides Instant money transfer to any ICICI Bank account in India and instant money transfer to any other bank account in India
Customers will receive a contactless debit card at their correspondence address within a few days of opening the account, either in the UK or in India. They will also be able to remit money 24×7 instantly to any ICICI Bank account in India.
Speaking about the initiative, Mr. Loknath Mishra, MD & CEO, ICICI Bank UK PLC said: “ICICI Bank has always leveraged technology to pioneer digital innovations and provide a world-class banking experience to its customers. We have introduced the opening of a current account in a digital manner to further improve engagement with our customers. This unique proposition heralds a new era of opening an account within a few minutes, a marked improvement over opening a more traditional bank account which can take a number of days. We believe that ease of banking is a key parameter for individuals when they look for a banking partner. ICICI Bank remains committed to meeting customer banking needs in the UK as well as providing hassle free remittance services to India”.
The mobile application ‘ICICI Bank UK iMobile’ can be downloaded on both android and iOS-based smartphones. There are a few simple steps required to open a current account using the ICICI Bank UK iMobile application. This includes downloading the app and filling in basic details such as entering an e-mail address, creating a user ID and choosing a password.
The customer must also provide a copy of the first page of their passport. This process is conducted within the app which is equipped with state-of-the-art technology ‘Optical Character Recognition’ (OCR) that recognises written characters in documents. The customer must then take a selfie within the app and press submit. Once the steps above have been carried out, the current account will become activated. One can then immediately start using the account. The contactless debit card will be sent to the customer’s correspondence address either in the UK or India.
Benefits from opening an account:
- Faster account opening using mobile app which includes gaining a contactless debit card
- Access to mobile and internet banking
- Access to 24X7 phone banking and a free text alert facility
- 24X7 guaranteed exchange rates for sending money to India
- Instant money transfer to any ICICI Bank account in India and instant money transfer to any other bank account in India