Hello Canada Newcomers Account

I have not received my Visa, can I go ahead and apply for an account?

We will require a copy of the Visa in order to process your application for a Hello Canada Newcomers Account. Tourist Visa and Study Permit will not be applicable. It has to be an Immigrant Visa or Work Permit.

I am a resident Indian and do not have plans to immigrate to Canada but I am interested to open an account with you in Canada, can I open an account?

We are currently offering the account only to people who intend to immigrate and are in possession of a valid Canadian visa to either permanently reside or temporarily work in Canada.

Are my funds, deposited with your bank, insured?

ICICI Bank Canada is a member of the Canada Deposit Insurance Corporation (CDIC), a federal crown corporation that insures eligible Canadian Currency Deposits at member institutions for up to CAD $100,000 per depositor.
For more details please visit www.icicibank.ca

What if I decide to settle nowhere near an ICICI Bank Canada branch?

Your Hello Canada Newcomers Account is accessible through 40,000 Interac ATMs in Canada. We also offer Internet Banking on the account. Your account will be accessible to you anytime, anywhere. However, to activate the account you would need to visit one of the ICICI Bank Canada branches.

You can also link your Chequing Account to ICICI Bank Canada Savings Account and three other Chequing accounts from up to three different banks in Canada. You can use Internet Banking to transfer funds between your accounts for ease of operations.

If you wish, you may also execute a fax agreement at the time of account activation, which will enable you to send instructions to us via fax.

How do I apply for a Hello Canada Newcomers Account?

This account package is available for people moving to Canada from India on Work Permit/Immigration Visa.

- Please approach the NRI sales or service staff in the ICICI Bank branch nearest you, fill in the application form and submit it along with the relevant documents.
OR
- Call us on 1866 ICICI 4U (for customers in India). We will send our sales representative to meet you and help you in completing the formalities to open the account.
OR
- Please send us your contact address and telephone number on hellocanada@icicibank.com. We will contact you within 24 hours.

What are the documents required to open a Hello Canada Newcomers Account?

Mandatory Documents:

Valid Indian Passport (containing pages of name, address, photograph and validity of passport)

Visa for:
   - Immigration
   - Employment
   - Copies of the above documents will be retained by the Bank after verifying with the original

Additional Documents:

In addition to above, any one of the following documents:

Valid Driving license issued by a Government Authority

Permanent Account Number (PAN) card issued by the income tax department

Voter’s identity card issued by Election commission of India

Any other identity card issued by Government Authority

What is the minimum amount required to open an account?

There is no minimum amount required to open a Savings Account. Savings Account is offered only in Canadian and US Dollars.

For Term Deposits, the initial deposit would be a minimum of 1,000 in the currency of the deposit which is available in Canadian & US Dollars.

What is the minimum balance that is required to be kept in the account?

There is no minimum balance required to be kept in a Savings Account. For Term Deposits, the minimum balance would be 1,000 in the currency of the deposit.

Can I open a joint account?

Yes, you can open an account in a joint name. We will require a copy of the passport and visa for the joint applicant (s). The joint applicant should also be moving to Canada with the primary applicant – hence should have the visa..

I am moving to Canada from a country other than India. Can I open this account?

The Hello Canada Newcomers Account is presently being offered for people moving to Canada from India and is currently not offered from other locations.

Do I need to be a resident Indian / NRI (Non Resident Indian) / PIO (Person of Indian origin) to open this account?

Yes, you would have to be a resident Indian / NRI / PIO to be eligible for opening an Hello Canada Account. In all the above cases, you should be holding a valid Indian passport with valid immigration visa or a work permit from the Canadian High Commission.

Is there a limit to the maximum amount that I can transfer from India?

Yes, the bank’s internal limits for transfer of money is a maximum of USD 100,000 under this program.

How will you acknowledge the receipt of funds to ICICI Bank Canada account?

On request, we can issue a Bank Balance Confirmation letter to you. You can request for the certificate while completing your account opening formalities, the instruction option is available in our account opening form.

When will the funds be credited to my account in Canada?

Your Hello Canada Newcomers Account will get funded after both the form and the remittance reach Canada. Depending on your location in India, this can take from 5 to 10 working days.

From what day does the interest start accruing on the account?

The interest starts accruing from the day the funds are credited to your Hello Canada Newcomers Account.

Can I deposit the funds after I receive my account number?

We open an account only on receipt of the initial deposit for the account along with the account opening form with all the documents.

What is the exchange rate that you will apply to convert my INR into Canadian dollar / US dollar?

The exchange rate valid on the day of transfer of funds to your Hello Canada Newcomers Account will apply. As exchange rates are volatile, we cannot commit on the applicable rate.

How will I get a confirmation of my account number?

If you have applied for a Balance Confirmation certificate, the account number and the balance will be available on the certificate.

When will you confirm the account number? How many days do you take to open an account?

Depending on your location in India, the account opening process will take from 5 to 10 working days.

What if I decide not to immigrate? How will you return my funds deposited with your bank?

We will need written instructions (signed by all applicants) informing us of your decision. These instructions would need to be sent to ICICI Bank Canada in original. The format for the letter would be sent to you when you request for the same. Only this format is to be used. Please go through the instructions and terms and conditions of the same carefully. The money will be sent by ICICI Bank Canada to your account in ICICI Bank Limited.

When can I start operating my account?

Your account is activated for operations once you reach Canada and contact our branch in Canada. Your deliverables for the account will also be kept ready on the tentative date of arrival mentioned in the Account Opening Form.

You can avail of our Internet Banking facility offered on your Hello Canada Newcomers Account in Canada (available only after reaching Canada and submission of the Social Insurance Number).

What if I want to send funds back to India after reaching Canada?

If such a request arises in the first three months of your opening the Hello Canada Account, funds will be sent back to India to your account with ICICI Bank Limited.