Icici bank trade and forex services dubai
The Terms shall be read in conjunction with the relevant account opening form s of the Bank, the terms of which are incorporated herein by reference. The Terms shall be read in conjunction with the relevant Remittance Registration Form, the Generic Terms and Conditions for the use of the Bank's website www. A minimum deposit may be prescribed for opening any account under a relationship. A minimum average balance during a quarter may also be required to be maintained in accounts.
Failure to maintain the prescribed average minimum balance will attract additional service charges as may be stipulated by the Bank from time to time. The Bank shall not be responsible for any unauthorised interception of e-mail or any other communication through whatever mode to or from ICICI Bank.
The clearing of cheques and withdrawals against cleared cheques will be normally permitted only against cleared balances as per the Bank's prevailing practices. The Bank may discharge its entire liability with respect to an account which it closes by deducting a service charge as may be imposed by the Bank from time to time and mailing to the customer's last known address a draft or cheque in the currency ies of the account without recourse to the Icici bank trade and forex services dubai as drawer, payable to the customer's order in the amount of the then credit balance in the account.
The Bank shall be entitled to with hold payments out of the customer's account or dishonour the customer's instructions in case any amounts outstanding from the customer to the Bank are not paid when due.
The Bank does not normally act on fax and other electronic instructions from its customers. Even with such indemnity the Bank reserves the right not to act on any fax or electronic instructions in its sole discretion. In any case Relationship and Account icici bank trade and forex services dubai documents, KYC icici bank trade and forex services dubai and address change instructions given by fax or other electronic form must be mailed in original hard copy to the Bank by the customer on the same day of receipt by the Bank of such fax or other electronic instruction.
Branch may insist on original hard copy for other customers instructions on case to case basis. The customer shall not permit any encumbrance or third party interest over or against any account s without the Bank's express prior written consent. The corporate customers Banks and Financial Institutions who are resident in Bahrain hereby declare and confirm that they are licensed by the Central Bank of Bahrain.
Deposits shall only be made if accompanied by proper supporting documents as required by the Bank, and the Bank shall have such rights as have been specified in these Terms. The Bank shall have the right to outsource or sub-contract any part of the banking operations to such third party including but not limited to any party outside Bahrain on such terms as the Bank deem fit in its sole discretion.
Such operations shall include but not be limited to, creation, maintenance and archiving of documents and records. The effective date of Fixed Deposit shall be the date on which the Bank gets funds to its account. No Fixed Deposit Receipt is issued in anticipation of realisation of the cheque.
A fixed deposit can only be opened in such currency, with such minimum balance and for such periods as the Bank may stipulate from time to time. The documents listed in the application forms are not an exhaustive list of requirements and the Bank reserves the right to require submission of such other documents as may be determined by the Bank on icici bank trade and forex services dubai case to case basis.
Fixed deposits placed with the Bank are non transferable and non negotiable and no right title interest therein or any part thereof can be transferred or secured by the customer to or in favour of any person without the prior written consent of the Bank. The Instalment and the number of instalments cannot be altered subsequently. Instalment for any calendar month must be paid on or before the last working day of that particular calendar month.
Such interest rates shall be in accordance with CBB directives if any from time to time At present the Recurring deposit interest rates are decided by the Bank as CBB has not issued any directives for the same.
The maturity proceeds will be credited to the Savings account of the depositor. If an Recurring Deposit is closed or discontinued for any reason before the maturity date other than death of depositorthe amount of installments already paid shall be paid together with the interest calculated on daily balance basis at the interest rate applicable at the time of opening the ICICI Bank Bahrain Recurring Deposit for the period for which the ICICI Bank Bahrain Recurring Deposit has been continued minus pre closure charges as per the below clause No interest will be paid if the deposit is closed with in 1 month.
An Account icici bank trade and forex services dubai normally be closed upon payment of all the stipulated number of instalments on the maturity date. Please visit our Website www. The terms and conditions set out in General Terms and Conditions Governing Accounts shall also apply to Recurring Deposits opened and maintained with the Bank, as amended, modified, supplemented and varied from time to time, in addition to the terms and conditions set out in this section.
These indemnities constitute a separate and independent obligation from the other obligations contained in the Terms, shall give rise to a separate and independent cause of action, shall apply icici bank trade and forex services dubai of any indulgence granted by the Bank and shall continue in full force and effect despite any judgment, order, claim or proof for a liquidated amount in respect of any sum icici bank trade and forex services dubai under the Terms, any judgment or order.
No proof or evidence of any actual loss may be required. India through Money 2 India M2I and through tie-ups with Correspondent Banks and Exchange Houses, which are governed by the respective terms and conditions for such remittance facility. The Generic Terms and Conditions for M2I would be mutatis mutandis applicable to the Facility of the Bank, so far as the Facility is utilising the services under M2I, whether such utilisation is done by the Registered Users or by the employees or agents of the Bank for the Registered Users.
The Registered User may be required to provide the Bank with certain additional details of the Beneficiary depending on the payment transfer method chosen. The Registered User will have to provide a unique nick name for each nominated Beneficiary in order to enable the Bank to identify that nominated Beneficiary. When a Beneficiary is nominated to be registered for remitting money the Bank will check whether that beneficiary is already registered.
If the beneficiary is not registered Anti- Money Laundering checks will be conducted on the beneficiary details as provided. The beneficiary will be registered within a reasonable period of time after verifying the beneficiary details provided. Once the beneficiary is registered the Registered User can transfer money to the beneficiary. The beneficiary registration status will be available under the "Registered Beneficiary" option accessible by the Registered User in the logged in section of internet banking.
For each remittance transaction, the amount to be remitted to the Registered Beneficiary and confirmation for further processing of transaction will have to be provided by the Registered User. Any number of beneficiaries can be registered by a Registered User. Once a transaction along with the Registered Beneficiary details has been confirmed by the Registered User it cannot be changed. Any scheme for awarding or securing reward points or other rewards or prizes by whatever name called is available only to Persons who are eligible for the same under the rules of the concerned scheme and the applicable laws of India and icici bank trade and forex services dubai concerned jurisdictions.
The Registered User is therefore required to verify that the Registered User is eligible before participating in any such scheme.
The Bank is not responsible or liable for the performance, quality or any other aspect of any rewards, prizes or items manufactured or supplied by third parties against any redemption of the points or otherwise pursuant icici bank trade and forex services dubai such scheme, and the Registered User's recourse for the same will be only against the persons who have manufactured or supplied the same.
However this clause shall not protect the aforesaid Persons or extend to their obligations and liability to the Bank or the Bank's claims against them. Under icici bank trade and forex services dubai circumstances will the funds to be remitted to India or any portion thereof be allowed to be transferred out of India under the Facility.
These indemnities constitute a separate and independent obligation from the other obligations contained in the Terms, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by the Bank and shall continue in full force and effect despite any judgement, order, claim or proof for a liquidated amount in respect of any sum due under the Terms, any judgement or order.
The Registered User shall notify the Bank immediately of any change icici bank trade and forex services dubai address or other information previously provided to the Bank by the Registered User and deliver to the Bank the relevant documents detailing such changes. Any writ, summons or other process may be served on the Registered User by mailing the same to the Registered User in accordance with the above and shall be deemed to be good service on the Registered User.
The foregoing shall not however preclude the Bank from effecting service of process in any other manner permitted by law. The Terms shall be governed by, and construed in accordance with Bahrain law. The Registered User hereby irrevocably submits to the non-exclusive jurisdiction of the Bahrain courts in icici bank trade and forex services dubai with any action or proceeding that may arise out of or in connection with the Terms.
Such submission shall not prejudice the Bank's right to commence action against the Registered User in any other court of competent jurisdiction. We request you to try again after some time. If the issue persists, please call our customer care numbers or submit a complaint.
General Terms and Conditions Governing Accounts 1. The Relationship shall be opened only when the documents submitted to the Bank are complete in all respects to the satisfaction of the Bank. Acceptance of documents by the Bank does not confer any right to the applicant to open the relationship. The icici bank trade and forex services dubai or the customer as the case may be, is bound to furnish any further documents or rectification of the documents already submitted to the Bank as and when required by the Bank.
At the end of every 3 years, you are under an obligation to provide the latest copy of your valid documents e. The Bank reserves the right to freeze your account, upon failure to submit the aforementioned documents. Please visit our Manama Branch with the relevant documents to icici bank trade and forex services dubai the account.
Each Relationship with a customer is represented by a Customer Identification No. Each combination of Relationship icici bank trade and forex services dubai distinct and unique and hence is identified by a separate Cust ID. Operating Accounts Relationships can be opened in the names of: More than two persons may be permitted to open account s in their joint names at the discretion of the Bank; A company, partnership firm, trust, association or other entity registered or constituted inside Bahrain as may be permitted by the Bank in their respective names.
All the accounts under a relationship Cust ID will be compulsorily operated as per mode of operation as specified in the account opening form. Should any such instruments be received by the Bank without having been so endorsed, then the Bank is hereby authorized to endorse any such instrument on behalf of the Customer and to credit the same to the account. Any overdraft or other obligations incurred on the account or otherwise shall be the joint and several liability of each and every individual constituting the Customer.
Hence, it is incumbent upon the customer to inform the Bank of any changes in mailing address immediately. The Bank will not be responsible for any loss, damage or consequences for wrong delivery of the above items arising out of the customer not informing the Bank of its change in mailing address. The Cust ID is common for all accounts opened in the same name and capacity, in addition to unique account number for each account.
Cust ID, once allotted, needs to be quoted when opening any further accounts in the same name and capacity. The Cust ID and account number is to be quoted in pay-in-slips issued by the customer and in all correspondence.
The customer or guardian, in case of minor accounts or the trustee in case of trust accounts or the relevant intermediary in case of any other fiduciary account or the authorised signatories in case of icici bank trade and forex services dubai accounts is expected to examine the entries icici bank trade and forex services dubai any statement of account or balance confirmation certificate that may be sent to it by the Bank and within 14 days of receipt of the same, to draw the attention of the Bank to any errors or omissions that might be discovered.
If no such notification is received by the Bank after the expiration of the said 14 day period, the details and information contained in such statement of account or balance confirmation certificate shall be conclusive evidence of the correctness of the contents and entries therein against the customer or any person claiming under or through the customer without the requirement for any further proof.
The Bank does not accept any responsibility for any loss arising out of failure on the part of the customer to examine the entries in the statements and report, within the fourteen day period stated above, any errors or omissions to the Bank.
Conduct of Account Operations in the account shall be permitted only after the activation of the account and the customer who has opened an account with the Bank should get a confirmation from the Bank as to the activation of the account.
An account shall not be activated unless all procedural formalities in this regard are completed. The Bank shall not be responsible or icici bank trade and forex services dubai for any consequences or losses suffered to the customer on account of any operation or attempted operation of the account prior to the activation of the account.
Transactions are entertained normally during banking hours at the Bank. Similarly, if any cheque or other instrument deposited by the customer is returned unpaid, a service charge will be imposed. No overdrawing is permissible in accounts unless an overdraft facility has been specifically sanctioned by the Bank. Standing instructions are subject to service charges stipulated by the Bank from time icici bank trade and forex services dubai time.
Collection services may be provided by availing of similar services of other banks. The Bank does not accept any responsibility for loss, delay, mutilation or interception of the instruments in postal or courier transit or by such other banks. The Bank does not accept or share any responsibility for icici bank trade and forex services dubai of such instruments or for the genuineness, validity or correctness of the signatures or endorsements thereon.
Withdrawals against such instruments are permissible only on realisation by the Bank. The Bank has the authority to debit the accounts to recover any amount credited erroneously. Closure of Account and Service Charges The Bank reserves the right to terminate the Relationship or Close the account s at any time and for any reason after prior notice to the customer at its last known address without assigning any reasons thereof and without any liability. However, the Bank reserves the right not to give any such notice where in the opinion of the Bank there exist certain exceptional circumstances which necessitate closure of account e.
The Bank further reserves the right to close or freeze the Account icici bank trade and forex services dubaiafter due notice to the Customers for reasons which may include, but icici bank trade and forex services dubai not limited to, the following: Upon closure of icici bank trade and forex services dubai Account s for any of the reasons specified above or otherwise, the Customer shall take steps to collect the balance amount in the Account, if any, and till such time the Customer collects such amounts, the Bank reserves the right to keep such amounts in a special office account without any interest being payable on the same.
Such information can be received mostly in the following manner: Any person can approach the branch with an information about the death:
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