Frequently Asked Questions

Why do you need my current account number and bank sort code?

We need your current account number and bank sort code to set up an electronic Direct Debit link between your HiSAVE account and your current account(hereafter referred to as nominated linked account).

For HiSAVE Savings Accounts: Nominated linked account will be the account from which your initial deposit must come. It will also be the account from which any deposits are made and to which any withdrawals will be sent.

For HiSAVE Fixed Rate Accounts: Nominated linked account will be the account from which your lump sum deposit must come. A HiSAVE Savings Account is automatically set up for you when you open a HiSAVE Fixed Rate Account. This is because all interest earned on your Fixed Rate Account is paid into the Savings Account, allowing you to access your interest whenever you want. The Direct Debit is set up between your HiSAVE Savings Account & your nominated linked account.

Please note: You remain in full control of your money at all times.

Back to top

Does my nominated linked account need to be with ICICI Bank UK?

No, it can be with any bank or building society in the UK.

Back to top

Does my initial deposit (lump sum in the case of Fixed Rate Accounts) need to come from my nominated linked account?

Yes, it must be drawn from the nominated linked account that you selected during your application. This can be done either by transferring funds directly from your nominated linked account into HiSAVE Fixed Rate Account or by sending a cheque.

Back to top

Can I link a joint current account with my sole HiSAVE account?

Yes. If you want to open a HiSAVE account in your sole name, your nominated linked current account can be either a sole or a joint account.

Back to top

Can I change my nominated linked account?

Yes, you can change your nominated linked account. However you cannot change it within 45 days of your HiSAVE account being opened. Follow the steps given below to change your nominated linked account:

Customers who have HiSAVE Savings Account only :

• i. Log in to your HiSAVE account and click on: ’Transfer Money’ > ‘View or change nominated linked account’ > ’Change nominated linked account‘.You will need to enter your new current account details and approve the direct debit mandate.
• ii. We will give you a reference number. Make a note of this
• iii. To verify your new account, send us a cheque from the new nominated linked account (minimum value £1). Please mention the reference number on the back of the cheque in order for us to trace your request quickly.
• iv. We will change your nominated linked account within 6 working days of receiving the cheque. The cheque amount will be deposited in your HiSAVE Savings Account.
• Please note: You cannot change your nominated linked account more than once within a period of 45 days.

Customer who have both HiSAVE Fixed Rate Account and HiSAVE Savings Account:
Your nominated linked account is linked to your HiSAVE Savings Account. So follow exactly the same steps to change your nominated linked account as above.

Customers who have HiSAVE Fixed Rate Accounts only:

• i. Call us on 080 81 31 41 51 and place a request for change of nominated linked account
• ii. Our phone banking officer will provide you with a reference number. Make a note of this
• iii. Download a Direct Debit Mandate form by clicking here
• iv. Print the Direct Debit Mandate form, complete it by filling in details of the new nominated linked account, and send it back to us along with an original copy of the bank statement of your new nominated linked account. The issue date of the bank statement should be more than 3 months old. We require this statement for verification purposes, and it will be returned to you after verification. Please mention the reference number on the statement in order for us to trace your request quickly.
• v. We will change your nominated linked account within 6 working days of receiving the bank statement.
• Please note: You cannot change your nominated linked account more than once within a period of 45 days.

Back to top