The app is equipped with state-of-the-art technology ‘Optical Character Recognition’ (OCR) that recognises written characters in documents and matching the photo in the passport with the selfie.
Opening a bank account in the United Kingdom is not at all a difficult task and as experienced by Suparna Nag (name changed), who migrated to the country long back, it takes hardly an hour to open an account there. To make the process even easier, ICICI Bank UK PLC, a subsidiary of ICICI Bank, has announced the launch of a digital account opening facility using the bank’s mobile application.
Through its first-of-its-kind service by an Indian bank in United Kingdom (UK), ICICI Bank enables Indians (holding Indian passport) moving to UK for work, to open a personal current account in UK, which is equivalent to a savings account in India, while they are in India itself.
“I never tried to open an account in England from India, but even 20 years ago, it used to take less than one hour to open accounts in London,” said Suparna.
However, now there is no need to visit any bank branch in UK and to open an account and a soon-to-be expat individual can simply download ICICI Bank’s UK mobile application called ‘ICICI Bank UK iMobile’ and furnish all KYC details electronically. Moreover, the account will get activated instantly, allowing customers to start transacting immediately.
Customers will also receive a contactless debit card at their correspondence address within a few days either in UK or in India.
Along with other features, the holders of the ICICI Bank personal current account in UK will get the facility of 24X7 guaranteed exchange rates for sending money to India as well as the facility of instant money transfer to any ICICI Bank account in India and instant money transfer to any other bank account in India up to Rs 2 lakh through IMPS.
The mobile application ‘ICICI Bank UK iMobile’ can be downloaded on both android and iOS based smartphones. The app is equipped to read written characters from documents, as well as to match the photo given in the passport with the selfie of the applicant and approve/disapprove the account opening process and get the newly opened account activated instantly.
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Speaking about the initiative, Loknath Mishra, MD & CEO, ICICI Bank UK PLC said, “ICICI Bank has been leveraging technology to provide world-class banking experience to its customers. We have introduced the opening of a personal current account in digital manner to further improve engagement with our customers. This unique proposition heralds a new era of opening an account in few minutes, a marked improvement over a few days taken earlier. We believe that ease of banking is a key parameter for individuals when they look for a banking partner. ICICI Bank remains committed to meet customers banking needs in UK as well as make hassle free remittance service to India”.
A current account using ICICI Bank UK iMobile application may be opened by following simple steps:
- Download the app and fill in basic details like e-mail id, password, etc
- Capture first page of the passport: The app is equipped with state-of-the-art technology ‘Optical Character Recognition’ (OCR) that recognises written characters in documents
- Click a selfie and submit: Image mapping facility will match the photo in the passport with the selfie
- Instantly, the current account gets activated along with instant password and mobile PIN (MPIN). One can immediately start using the account
- The contactless debit card is sent at customer’s correspondence address either in UK or India
The customers will also have the option to open NRI Accounts online instantly, which will allow to view the details of the NRI Accounts via ICICI Bank UK Internet banking, making it more convenient to track finances between the UK and India.