Hello Canada Account FAQs - ICICI Bank

The Hello Canada Account is a Checking account offered by ICICI Bank Canada for Indian citizens moving to Canada to live, work or study. It's key feature is the ability for the customer to open an account before leaving for Canada. The customer can remit money into their Hello Canada account before leaving for Canada in order to meet the proof of funds requirement.

There are two main statuses during the application process:

1. Non Resident status: When the account is opened, the customer is classified as Non Resident, as he or she is still in India.
2. Resident status: Achieved after the customer arrives in Canada and completes the KYC process as per Canadian Regulations.

Note: Customer will be still classified Non Resident while in Canada, until they complete the KYC process.

Any Indian citizen who has a valid Canadian visa in any of the following categories can apply for Hello Canada Account.

1. Permanent Residency (“PR”) (immigration) visa
2. Work visa (valid for more than 6 months)
3. Study visa

The account can be opened through designated ICICI Bank Limited branches in India. You can approach the Non Resident Indian (NRI) sales or service staff in the ICICI Bank branch near you.

OR

E-mail us your mailing address and telephone number at globalbanking@icicibank.com. We will contact you within 24 working hours.

OR

Call us on 1-800-22-4848 (in India)

1. Valid Indian Passport (containing your full name, address and photograph)
2. Valid Canadian visa (immigration, work or study)
3. Letter from your employer or academic institution (for work or study visas respectively)
4. Proof of address in India

For customers with Non Resident status:

• No minimum balance required
• No monthly charges
• Deposit into the account up to the RBI permissible limit for outward remittance

Note: Interest is not paid and withdrawals are not allowed for customers holding Non Resident status.

For customers with Canadian Resident status:

• Choice of HiVALUE® or HiVALUE PLUS checking account
• Earn interest, subject to account balance requirements
• Unlimited access to in-branch and online banking
• 24x7 Call center support
• Debit Card that allows access to over 3,600 ABMs in Canada
• Personalized cheque book
• Bill payment and Text alert facilities
• and much more…

Kindly visit the ICICI Bank Canada branch in person with the required documents. The branch official will fill the required Activation form and place your request

For customers with Canadian Resident status:

1. Permanent Resident card or one of the following Citizenship and Immigration Canada forms (IMM 1000, IMM 1442, IMM 5292 or IMM 5688)
2. Indian Passport
3. Social Insurance Number letter issued by the Government of Canada
4. You may be required to provide any other address proof (e.g. telephone bill, internet bill)

Canada is a vast country and we understand that some Hello Canada Account holders might settle in a location that does not have an ICICI Bank Canada branch nearby. These customers can activate their account by following the steps listed below:

1. Download the Account Activation Form available on ICICI Bank Canada website Complete the form, ensuring all mandatory information is provided
2. Attach notarized copies of following documents:
   • Permanent Resident card or one of the following Citizenship and Immigration Canada forms: IMM 1000, IMM 1442, IMM 5292 or IMM 5688
   • Indian Passport
   • Social Insurance Number letter issued by the Government of Canada
   • Account opening letter
3. Enclose a pre-printed personalized cheque for $1 (with your name and Canadian address), payable to yourself. The cheque should be issued from your account with any Canadian bank other than ICICI Bank Canada.
4. Send all the above mentioned documents to us by post at:
   ICICI Bank Canada
   P.O. Box 396
   Don Mills, ON M3C 2S7
   Canada

The Immigration Department of the Government of Canada requires proof that you have enough money to support yourself and your family in Canada. They determine the amount of money required according to the number of people in your family. You cannot borrow this money from another person. These funds must be available to cover living expenses for you and your family, even if they are not accompanying you.

For more information, go to the Government of Canada WebsiteThe Immigration Department of the Government of Canada requires proof that you have enough money to support yourself and your family in Canada. They determine the amount of money required according to the number of people in your family. You cannot borrow this money from another person. These funds must be available to cover living expenses for you and your family, even if they are not accompanying you. For more information, go to the Government of Canada Website http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

A Certificate of Balance will be sent to you automatically via your ICICI Bank Canada Secure Mailbox after we receive the funds that you deposited into your Hello Canada Account.

You will receive a Welcome Kit upon submitting the completed Account Application Form and required documents at an eligible ICICI Bank Limited branch in India. The Welcome Kit contains your Customer Identification Number (CIF), which will be your Login ID for online banking. Also enclosed are the Legal Brochure, Disclosure Statement, Hello Canada Account Terms and Conditions, Internet Banking Password and product brochure. In addition, you will also receive:

1. Account confirmation: You will receive a confirmation letter after your account has been opened. This letter will provide your account number and additional account details.
2. Certificate of Balance: A Certificate of Balance, which will serve as proof of funds at the port of entry in Canada, can be issued to you upon successful completion of an outward remittance to your Hello Canada Account. All you have to do is submit a request when you place your remittance instruction. We recommend that you remit your funds at least 20 days before you leave for Canada.
3. Debit Card and Cheque book: Once you arrive in Canada and submit the required documents at your ICICI Bank Canada branch, you will be given your Debit Card. You can also request your first free personalized cheque book, which will be mailed to the address you provide.
4. Cash for initial period: We understand that it may take some time for you to provide the required documents, and that you may require some cash for your day-to-day activities in the interim. Your Hello Canada Account allows you to withdraw up to CAD 5,000 before activation is completed, for your day-to-day needs subject to available balance in the account in maximum two transactions.

Your account will only become fully operational once you have completed your account activation in Canada. While you are in your home country, you will only be allowed to remit funds to your Hello Canada Account, up to a maximum of CAD 100,000.

We require a copy of your Canadian visa in order to process your application for a Hello Canada Account. A Visitor Visa or Temporary Resident Permit will not be accepted. You must provide an Immigrant Visa, Student Visa or Work Visa that is valid for more than 6 months.

We are currently offering the Hello Canada Account only to people who are migrating to Canada on work, study (more than 6 months) or Permanent Residency visa.

ICICI Bank Canada is a member of Canada Deposit Insurance Corporation. The instruments and/or products that are eligible for deposit insurance from the Canada Deposit Insurance Corporation (CDIC) are listed in our Deposit Register, subject always to coverage limitations as outlined by CDIC. For further information, please visit the CDIC website or call: 1-800-461-CDIC (2342).

There is no minimum amount required to open a Hello Canada Account. The account is offered only in Canadian Dollars.

There is no minimum balance requirement to be maintained in a Hello Canada Account.

The Hello Canada Account must be opened as a single-holder account; however, you can add your spouse or partner as a joint account holder once you have activated your account in Canada.

There is no minimum balance requirement to be maintained in a Hello Canada Account.

Hello Canada account can be opened from USA, UK, Philippines, Vietnam, Germany, UAE, Bahrain, China, Hong Kong, Singapore, South Africa and Nepal.

Yes, customers can transfer the fund from India up to a maximum of CAD 100,000

Funds are usually credited into the account within 3-5 business days, however, in some cases it may take longer.

Interest starts accruing from the day you activate your Hello Canada Account, subject to account balance requirements. No interest is paid until the account is activated in Canada with the submission of required documents as per Canadian regulations.

You can send money to your Hello Canada Account any time after you are provided with the account number. International wire transfers may take more than five business days to reach ICICI Bank Canada. We recommend that you send money to your account at least a month before you travel to Canada.

The account opening process will take approximately 1-2 business days provided that all documents are in order and no further clarification is required. You will receive a confirmation letter with your account number via your ICICI Bank Secure Mailbox.

The account opening process will take approximately 1-2 business days provided that all documents are in order and no further clarification is required. You will receive a confirmation letter with your account number via your ICICI Bank Secure Mailbox.

You will need to submit Letter of Direction (written instruction) signed by all applicants informing us of your decision to close the account. State a brief reason and submit it along with your original account opening confirmation letter and Certificate of Balance. The Letter of Direction and documents must be submitted at a designated ICICI Bank Limited branch in India. Funds will be sent by ICICI Bank Canada to your account in India stated in the account opening form. The prevailing exchange rate at the day of transfer will apply.

You are permitted to perform any regular banking transactions after the account is activated in Canada.

You will need to submit your Passport, SIN No. at the Canada Branch to receive the Debit Card and cheque book