At a time when the latest UK Home Office data shows that Indians are now the topmost nationality being issued visas to study at UK institutions, an 89 per cent increase in 2022 from the previous year, one of India’s prominent banks has stepped in with a tailor-made offer for this group.
ICICI Bank UK, a wholly owned subsidiary of ICICI Bank headquartered in Vadodara in Gujarat, announced this week the launch of HomeVantage Current Account (HVCA) – a new account specially designed for Indian students headed for higher education in Britain.
The HVCA, which comes with a Visa debit card valid for use anywhere in the world, can be activated digitally before the students leave India for the UK. As an equivalent to a savings account in India, the account holder can activate internet banking and mobile banking once it has been activated. The students can opt for the physical debit card to be delivered to an Indian or UK address.
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Pratap Singh, Head Retail Banking, ICICI Bank UK plc, said: “We understand the unique banking requirements of students coming to the UK for further education and endeavour to make banking effortless for them.
“The digital account opening facility helps the Indian students with smooth onboarding to the UK bank account while they are still in India. The HomeVantage Current Account and the Visa debit card helps them to take care of their day-to-day banking requirements in the UK.
“Students and their parents in India have a strong connect with ICICI Bank. We look forward to serving the needs of the students while they study in the UK, and their parents in India for facilitating their overseas banking needs in a convenient, safe and secure manner.”
ICICI Bank UK claims it is part of its efforts to serve the Indian diaspora for over a decade through a range of personal, business and corporate banking services. It says that the new account can be set up via its mobile app or through an online application form. For joint accounts, students can visit any of the branches of ICICI Bank.
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Key features of HomeVantage Current Account:
Fully digital process: Students can open the bank account online either from India or in the UK and get the account details instantly*
Free debit card: Students receive Visa debit card at the given address of India or the UK
Available 24/7: The facility of digitally opening and accessing the bank account is available 24/7
* Subject to checks, terms and conditions apply
*Info: ICICI Bank UK