Account Features

What are the currencies in which the Business Savings Account, Business Chequing Premium Account and Business Chequing Elite Account are offered?


Presently, these products are offered in Canadian dollars and US dollars.

Do you offer ABM card services for the Business Savings Account?


No, ABM card services are offered only for the Business Chequing Premium Account and Business Chequing Elite Account in Canadian dollars and to authorized signatories of the account only. To request the issuance of an ABM card please contact your branch.

When is the interest on the Business Savings Account credited?


Business Savings Account interest is computed daily and paid monthly at the end of each month.

Are my Business Chequing Premium, Business Chequing Elite and Business Savings Accounts secure?


All information you provide to us is held in strictest confidence, in compliance with privacy standards followed by all major Canadian financial institutions. The authorized individual(s) are the only ones who can transact on the account.

Are my deposits eligible for CDIC Insurance?


ICICI Bank Canada is a member of Canada Deposit Insurance Corporation (CDIC). The instruments and/or products that are eligible for deposit insurance from the Canada Deposit Insurance Corporation are listed in our Deposit Register, subject always to maximum coverage limitations as outlined in CDIC’s brochure "Protecting Your Deposits" and provided they are in Canadian funds, are payable in Canada, and have a term of no more than 5 years.

For further information, please visit the Canada Deposit Insurance Corporation website or call: 1-800-461-CDIC (2342).

Is it true that there is no minimum deposit for the Business Savings Account?


Yes, it is true that there is no minimum for the Business Savings Account. Your account starts earning interest, if applicable, from the first dollar deposited.

How often will I receive my statements?


For your Business Savings Account, Business Chequing Premium Account and Business Chequing Elite Account you will receive your statements once a month.

Which accounts can be linked online?


The Business Savings Account, Business Chequing Premium Account and Business Chequing Elite Account with ICICI Bank Canada can be linked with a business chequing account held in the same business name and currency with any Canadian financial institution.

Upon linking of these accounts you will be able to do online transfers between the accounts free of charge. For linking your Business Savings Account or Business Chequing Premium or Business Chequing Elite Accounts please contact any of our branches.

Please refer to our hold policy for details on the hold period.

Can bill payments be made through the Business Account?


Yes, you can make bill payments at a branch and through internet banking if you have a Business Savings Account or Business Chequing Premium Account or Business Chequing Elite Account maintained in Canadian dollars.

How do I move money between accounts with different currencies?


You may move money between your Canadian dollar and US dollar accounts within ICICI Bank Canada. To move money from or to an external linked account, the external linked account must be in the same currency as your account with ICICI Bank Canada. For instance, if you have a US dollar and Canadian dollar savings account with ICICI Bank Canada and you have linked your chequing account in US dollars and Canadian dollars with your accounts at the other financial institution, you may carry out the following transactions:

  • Transfer money between your Canadian dollar and US dollar accounts within ICICI Bank Canada.
  • Transfer money between your Canadian dollar savings account with ICICI Bank Canada and the linked Canadian dollar savings account with the other financial institution.
  • Transfer money between your US dollar savings account with ICICI Bank Canada and the linked US dollar savings account with the other financial institution.