ICICI BANK, charge for transfers?

Jake'sGran

I am about to open an account with this bank and last night read the terms and conditions. In a section about transferring money to another bank it seemed to be saying that there is a charge for BACS payments. Is this correct? Does anyone know?

Oblivion

As I read their T&Cs, BACS transfers to another UK bank are free, as you would expect, and same day transfers by CHAPS to another UK bank carry a charge of £20, which is quite normal.

Dave.

LongTermLurker

Jake'sGran wrote: »

I am about to open an account with this bank and last night read the terms and conditions. In a section about transferring money to another bank it seemed to be saying that there is a charge for BACS payments. Is this correct? Does anyone know?

There's no charge for BACS transfers out - you're not looking at the Indian site are you? They seem to have different conditions; I don't know if BACS (as such) exists in India, but I haven't seen the condition you refer to.

Jake'sGran

I'll have another look. It was the UK site I was on. Must admit I don't usually read all the terms and conditions on these bank sites but decided to with this one. Thank you for responding.

Exo

Hi, rule 4.4. BACS is free for electronic transfers.
http://www.icicibank.co.uk/hisave_terms_condition.html

Don't forget, you can only have one nominated bank account to transfer money to and from your ICICI HiSave Account.

Exo