Frequently Asked Questions

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How can I access my HiSAVE account?

By logging into your account online.

You can also use our text message banking service, which enables you to have details like account balances, the last 3 transactions and schedules of fund transfers sent to your mobile phone.

Or you can use our free phone banking service, which is available 24/7. Dial: 080 81 31 41 51 (freephone from UK landline).

How do I change my contact details?

Simply call us on 080 81 31 41 51 (freephone from UK landlines) or log into online banking, go to 'Service Requests' > 'Request for change of email ID/contact number' or 'Request for change of address' and complete the form.

We’ll action changes to your postal address, email address or phone numbers within two Business Days.

What is a Service Request and how do I use them?

Our online ‘Service Request’ tool provides a quick link to frequently asked requests. Here are just a few of the ‘Service Requests’ currently available:

  • Open a HiSAVE Fixed Rate Account
  • Request a CHAPS transfer
  • Request for Change of Address
  • Track your Service Request

Here's how to raise a service request:

  • Log into your HiSAVE account
  • Click on the ‘Service Request’ option on the left-hand side of the screen
  • Select the appropriate ‘Service Request’, fill in the short form and click ‘Submit’
  • You’ll then receive your service request number which you can use to track the progress of your request

How to track the status of your service request:

  • Log into your HiSAVE account
  • Click on the ‘Service Request’ option and select ‘Track your Service Request’
  • Select your account number and enter your service request number
  • You’ll then see a progress update for your request

Will I be able to withdraw funds using a cheque book or debit card?

We don’t issue a cheque book or debit card for HiSAVE accounts. You manage your account online and you make withdrawals from your HiSAVE account (subject to the terms and conditions of your account) by transferring money to your Nominated Linked Account.

Can I make transactions in any currency?

HiSAVE accounts are denominated in pound sterling only. Transactions cannot be made in other currencies.

Will my online password expire?

For security reasons, if you don’t use your password during a six-month period it will expire. If this happens, we will send a new password to you within seven Business Days. Just visit our login page, click on the 'Forgot/Reissue password’ link and complete the quick form.

Alternatively, call us on 080 81 31 41 51 (freephone from UK landlines) and ask for a new password.

Will I have access to my HiSAVE account through ICICI branches?

HiSAVE accounts are managed exclusively online and you will not be able to access them through our branches.

How long does it take to move money between my HiSAVE account and my Nominated Linked Account?

If you are initiating a request to transfer funds from your Nominated Linked Account to your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account through ICICI Bank online banking, then it normally takes three Business Days to pull funds from your Nominated Linked Account using the Direct Debit. However, if your Direct Debit link is in the process of being set up, your first transfer may take up to seven or eight Business Days.

If you are initiating a request to transfer funds from your Nominated Linked Account to your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account through your Nominated Linked Account’s online banking then it normally takes one Business Day to receive funds in your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account.

If you would like to transfer funds between your HiSAVE Savings Account and your HiSAVE SuperSaver Savings Account, then please call us on 080 81 31 41 51 and it will take one business day for funds transfer

Will my Direct Debit instruction be cancelled if I don’t use it for more than a year?

No. Your account becomes dormant if you have not initiated any transactions for a period of 5 years, however the Direct Debit isn’t cancelled. If there are no transactions for more than 5 years, then the Direct Debit instructions are automatically cancelled to protect your account from being misused.

How do I transfer funds to and from my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account?

You can use online banking to transfer funds from your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account to your Nominated Linked Account or vice versa. Simply log into your HiSAVE account and go to the ’Transfer Money’ section. Don’t forget to click ’Confirm’ to complete your request.

Your instruction to transfer funds from your Nominated Linked Account to your HiSAVE account may be rejected by your Nominated Linked Account bank or building society for any of the following reasons:
a. A direct debit instruction is not set up with your Nominated Linked Account bank or building society.
b. A direct debit instruction has been cancelled by you or your Nominated Linked Account bank or building society.
c. Your Nominated Linked Account bank or building society’s stated date of debiting is in advance of the due date specified in any existing fixed direct debit instruction or advance notice to you.
d. Your Nominated Linked Account bank or building society is not in a position to pay the direct debit.
e. Your account number is not recognised by your Nominated Linked Account bank or building society.
f. You dispute the time, amount or frequency of advance notice and have requested single payment to be countermanded.
g. Your Nominated Linked Account shifted to another bank or building society.
h. You state that the amount of the direct debit differs from the amount in any existing fixed instruction or advance notice to you.
i. Presentation is overdue.

Your instruction for funds transfer from your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account to Nominated Linked Account may also be rejected by your Nominated Linked Account bank or building society for any of the following reasons:
a. Your Nominated Linked Account details are invalid.
b. Your Nominated Linked Account is transferred to another bank or building society.

In such cases please contact your Nominated Linked Account bank or building society for more details.

Can I send money to my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account from an account that’s not my nominated linked current account?

No. You can only transfer funds to your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account from your Nominated Linked Account.

Can I send money from my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account to an account that’s not my nominated linked current account?

No. You can only send funds from your HiSAVE Savings Account or HISAVE SuperSaver Savings Account to your Nominated Linked Account.

Is my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account subject to any deposit or withdrawal limits?

Deposits: There is no limit on the value or number of deposits you can make from your Nominated Linked Account to your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account.

Withdrawals :The maximum value of withdrawals you’re allowed to make through our online banking service is £50,000 per day. If you wish to withdraw more than £50,000, please call us on 080 81 31 41 51 (freephone from UK landlines) or log into online banking and write to our Accounts Manager. We’ll be happy to assist you.

How can I transfer more than £50,000 from my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account?

You can do so in either of the following ways:

  • Simply call us 24/7 on 080 81 31 41 51 (freephone from UK landlines). Requests received after 13.00hrs UK time, or on a non-working day, will be fulfilled the following working day.
  • Alternatively, log into online banking and write to our ‘Account Manager’ from your log into online banking. In this case your request will be processed in one Business Day. The funds will be available in your Nominated Linked Account in one Business Day from the time we act on your request.

How do I make a CHAPS transfer from my HiSAVE Savings or HiSAVE SuperSaver Savings Account?

Simply log into online banking and go to ‘Service Requests’ > ’Request CHAPS transfer’.

For a CHAPS transfer to be made on the same day, you must request the transfer on or before 11:45am UK local time on a working day. Requests made after 11:45am UK local time or on a weekend or bank holiday will be made on the next working day.

For a CHAPS transfer to be made on the same day, you must request the transfer on or before 1:00 pm UK time on a working day. Requests made after 1:00 pm UK time, or on a non-working day, will be fulfilled the following working day.

Please note we do not accept future-dated transfers.

There is a £20 charge for CHAPS transfers.

How will I know if you have received my request for a CHAPS transfer?

We will send you a confirmation email within an hour of receiving your request.

How can I cancel a fund transfer request?

If you wish to cancel or modify a recurrent direct debit request or future dated/scheduled instructions, please log into online banking and go to the 'Transfer Money' section. Alternatively, call us on 080 81 31 41 51 (freephone from UK landlines) and place your request.

Same-day fund transfer requests cannot be cancelled because we start processing your request as soon as we receive them.

Future dated/scheduled instructions can be cancelled up to one Business Day before the scheduled date of transfer, but only if we receive the cancellation before 13.00 hrs UK time.”

How do I close my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account?

Call us 24/7 on 080 81 31 41 51 (freephone from UK landlines) and place your request.

We will then close your account and transfer the balance, plus any interest, to your Nominated Linked Account. It takes one Business Day for funds to reach your Nominated Linked Account via next business day transfer. Please note: if you have a HiSAVE Fixed Rate Account linked to HiSAVE Savings Account or HiSAVE SuperSaver Savings Account, you will not be able to close your linked HiSAVE Savings Account or HiSAVE SuperSaver Savings Account until the maturity of your HiSAVE Fixed Rate Account.

How do I reactivate a dormant account?

If there are no customer-generated transactions in a HiSAVE Savings Account or HiSAVE SuperSaver Savings Account for a period of 60 months we will mark the account as ‘dormant’.

To reactivate a dormant account you can call us 24/7 on 080 81 31 41 51 (freephone from UK landlines) and ask us to reactivate your account. Your request will be processed in one Business Day.

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How will I receive my HiSAVE Account statements?

You will be able to access your monthly account statement, by logging into your HiSAVE Account internet banking and downloading the same. The monthly statement will be in a non editable PDF format. Your PDF account statement will be available for viewing and download for 3 months after it has been generated.

In addition, the statement of transactions is also available in other formats for your reference. Upon request, we can also provide you a physical copy of the statement. You may place a request by calling us at 08081 31 41 51 (freephone from UK landline) or writing through ‘Accounts Manager’ from your HiSAVE Account internet banking. There is a charge of GBP 5 for these requests.

In addition to the statements, historical transactions can also be viewed online.

What transactions can I make in my HiSAVE Savings Account or HiSAVE SuperSaver Savings Account?

The table below provides a list of transactions that can be conducted with a HiSAVE Savings Account or HiSAVE SuperSaver Savings Account:


Financial Transactions

Turn Around Time (business days)

Charges (£)

Cut-off for placing the request for it to be processed on same day (if applicable) UK local time

Financial Limit (£)

Value date (business days)

Channel

Payments into HISAVE

2 hours from receipt of funds

NIL

15:30 pm
GMT

No limit

The amount will be credited into your account on the same day on which we receive it and will start earning interest

Internet & Phone Banking

Withdrawal via “Next business day payments”

1 business day

NIL

13:00 for online request
13:00 for phone request

50,000 per day for online transactions

Immediate, provided the request is received before cut-off time. Funds will be available in your Nominated Linked Account as per BACS clearing cycle

Internet & Phone banking

Withdrawals from HiSAVE (CHAPS)

1

20

13:00 hrs

No limit

Immediate, provided the request is received before cut-off time

Internet & Phone banking

Request for opening a HiSAVE Fixed Rate Account by pulling money from your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account

2 (provided cleared funds are available in your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account)

NIL

NA

Minimum amount should be 1,000. No limit on maximum investment

You will start earning interest from the day you have clear funds in your HiSAVE Savings Account or HiSAVE SuperSaver Savings Account

Internet & Phone banking

Request for opening a HiSAVE Fixed Rate Account by pulling money from your Nominated Linked Account

7 (provided direct debit link between your HiSAVE Savings Accounts or HiSAVE SuperSaver Savings Account and your Nominated Linked Account is set up)

NIL

NA

Minimum amount should be 1,000. No limit on maximum investment

You will start earning interest from the day we receive clear funds from your Nominated Linked Account

Internet & Phone banking

Request for change in tax status

1

NIL

NA

NA

Your tax status will be considered to have changed once we have processed your request

Internet & Phone banking

Request for closure of HiSAVE Savings Account or HiSAVE SuperSaver Savings Account

2

NIL

NA

NA

NA

Internet & Phone banking

Conversion of HiSAVE monthly interest product to HiSAVE yearly interest product or vice versa

7

NIL

NA

NA

NA

Phone banking

 

Non Financial Transactions

Turn around time (business days)

Charges (£)

Cut-off for placing the request for it to be processed on same day (if applicable) UK local time

Financial Limit (£)

Value date (business days)

Channel

Request for change in contact details like address/email/telephone/mobile number

2

NIL

NA

NA

NA

Internet & phone banking

Request for R85 form

7 ((dependant on UK postal service)

NIL

NA

NA

NA

Internet & phone banking

'Re- issue' of internet banking password

7 (dependency on UK postal service)

NIL

NA

NA

NA

Internet & phone banking

Request for activation of a dormant account

1

NIL

NA

NA

NA

Phone banking

Request for change of Nominated Linked Account

7 (from the time we receive the cheque and Direct Debit Mandate from you)

NIL

NA

NA

NA

Internet banking

Request for physical copy of Tax certificate

7 (dependency on UK postal service)

5

NA

NA

NA

Phone banking

Request for physical copy of statement (one-off requirement)

7 (dependency on UK postal service)

5

NA

NA

NA

Phone banking

Request to check status of funds transfer from Nominated Linked Account to HiSAVE account

1

NA

NA

NA

NA

Phone banking

Miscellaneous queries

2

NA

NA

NA

NA

Phone banking

NA - Not applicable

Contact us

Call us on:
0844 412 4444
(calls cost 5 pence per minute plus your
phone company’s access charge).

If you're outside the
UK call +44 203 478 5319

Fixed Rate Account

Up to 2.50% AER

Fixed returns for your savings

Apply now

Savings Account

0.50% AER

Easy access to your savings

Apply now