Hello Canada Account

What is Hello Canada Account?


The Hello Canada Account is Chequing account offered by ICICI Bank Canada for Indian citizens who are planning to move to Canada to live, work or study. Its key feature is the ability for customer to open an account before leaving for Canada. 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.

Who can apply for Hello Canada Account?


Any Indian citizen who has a valid Canadian visa in any of the following categories:

  1. Permanent Residency (immigration) permit
  2. Work permit (valid for more than 6 months)
  3. Study permit

How do I apply for a Hello Canada Account?


The account can be opened through designated ICICI Bank Limited branches in India.

Please approach the Non-Resident Indian (NRI) sales or service staff in the ICICI Bank branch near you.

OR

Email us your mailing address and telephone number at hellocanada@icicibank.com. We will contact you within 24 hours.

OR

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

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


  1. Valid Indian Passport (containing your full name, address and photograph)
  2. Valid Canadian visa (immigration, work or study)
  3. Acceptance letter from your employer or academic institution (for work or study visas respectively)
  4. Proof of address in India (any of the 2 from below list containing your address)
    • Valid Driving license issued by a Government Authority
    • Voter’s identity card issued by Election commission of India
    • landline phone bill (MTNL/BSNL)
    • Indian Passport issued by a Government Authority
    • Ration card issued by a Government Authority
    • Aadhar card issued by a Government Authority

In addition to the above requirements, any other document that the account opening ICICI Bank branch in India might deem necessary as part of the KYC requirement.

What are the Hello Canada Account’s features?


For customers with NON-RESIDENT status

  • No minimum balance required
  • No monthly charges
  • Deposit into the account allowed up to limit for immigrants by Reserve Bank of India.


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 chequing account
  • Earn interest, subject to account balance requirements
  • Unlimited access to in-branch and online banking
  • 24/7 call center support
  • Debit Card that allows access to over 2,500 ABMs in Canada
  • Personalized chequebook
  • Bill payment & Text alert facilities
  • And much more…….

How do I activate my Hello Canada Account?


Once you arrive in Canada, you need to activate your Hello Canada Account by visiting an ICICI Bank Canada branch in person with the required documents.

To activate the account, 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.

What are the documents required to activate the Hello Canada Account?


The mandatory documents required to activate the account are:

  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


You may be required to provide any other address proof (eg: telephone, internet bill)

How can I activate my account, if I am not settling near an ICICI Bank Canada branch?


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.
  2. Complete the form, ensuring all mandatory information is provided
  3. 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
  4. 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.
  5. Send all above mentioned documents to us by post at:
    ICICI Bank Canada
    P O Box 396
    Don Mills, ON M3C 2S7
    Canada

What is a Certificate of Balance (Proof of funds)?


You must show that you have enough money to support yourself and your family after you arrive in Canada. You cannot borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they are not coming with you). The amount of money needed is set by the Government of Canada accordingly to the size of your family.

You will also need to show proof to the Canadian visa office in your home country that you have enough money when you apply for your visa.

You do not have to show that you have these funds if you have a valid offer of employment in Canada AND you are currently working or authorized to work in Canada.

To learn more: http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

How can I obtain a Certificate of Balance?


The Certificate of Balance will be delivered to your address in India after you remit funds to your Hello Canada Account and request the certificate by doing one of the following:

  • Inform the branch official at your ICICI Bank Limited branch in India when you place an outward remittance instruction
  • Call our NRI call centre in India at 1-800-22-4848
  • Email hellocanada@icicibank.com from your email address registered with us.

The following information must be provided:

  • Customer Identification (CIF) Number
  • Account number
  • Name of the account holder
  • Address
  • Indicate “Request for Certificate of Balance” on the subject line if the request is sent by email

What items will I receive upon opening a Hello Canada Account? When will I receive these items?


  1. Welcome Kit: 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.

  2. 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.

  3. 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 around one month before you leave for Canada.

  4. Debit Card & 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 chequebook, which will be mailed to the address you provide.

  5. 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 C$5,000 before activation is completed, for your day-to-day needs subject to available balance in the account in maximum two transaction.

Can I operate my account while I am in India?


Your account will become fully operational once you arrive in Canada and activate it by personally visiting an ICICI Bank Canada branch and submitting the required documents. While in India you will only be allowed to remit funds to your Hello Canada Account as per the limit set for immigrants by the Reserve Bank of India.

I have not received my Canadian visa, can I apply for an account?


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

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


We are currently offering the Hello Canada Account only to people who intend to either permanently immigrate to Canada or visit temporarily for work or study.

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.

What is the minimum amount required to open an account?


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

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


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

Can I open a joint account?


Yes, you can open a joint account. We will require a copy of the Indian passport and Canadian visa for the joint applicant(s). The joint applicant should also be moving to Canada with the primary applicant, and should therefore have a valid Canadian visa under one of the specified categories.

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


The Hello Canada Account is currently being offered to people moving to Canada from India only.

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


Yes, you must be an Indian citizen, NRI or PIO holding a valid Indian passport with a valid Canadian visa to be eligible for opening a Hello Canada Account.

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


Yes, the limit for transfer of funds into your account is set by the Reserve Bank of India under the immigration category. You are required to mention the source of funds along with the purpose of remittance when performing a wire transfer (SWIFT).

When will the funds be credited to my account in Canada when I remit the funds from India?


he funds will be credited into the account within 2-3 business days.

When does interest start accruing on the account?


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.

Can I deposit funds after I receive my account number?


You can send money to your Hello Canada Account any time after you receive the account number. We recommend you send money to your account at least a month before you travel to Canada.

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


The exchange rate on the day you transfer funds to your Hello Canada Account will apply. As exchange rates are volatile and remittances will be performed by ICICI Bank Limited at their prevailing rates, ICICI Bank Canada cannot provide exchange rates in advance.

How will I get a confirmation of my account number?


Your application should be processed within 2 business days after submission at an ICICI Bank Limited Branch in India. You should receive a confirmation letter at your mailing address within 10 business days.

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


The account opening process will take approximately 2 business days, assuming all documents are in order and no further clarification is required. The letter notifying you of your account number will be dispatched to your mailing address and should arrive within 10 business days.

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


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.

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


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