Current Account FAQs
How is minimum Monthly Average Balance (MAB) calculated?
MAB is calculated on a simple average of day-end balances for a calendar month. MAB is calculated by adding the closing balance of account each day from start of the month to end of the month. Then the total sum amount is divided by number of days in that month.
What documents do I need to open a Current Account?
To view the list of documents required for opening a Current Account with ICICI Bank, please click here . The type of documentation depends on your business entity type.
How do I change the Current Account product type for my account? / How do I do a variant change for my Current Account?
You can change the Current Account product type by visiting the nearest ICICI Bank branch along with the request letter signed as per Mode of Operation (MOP) on entity letterhead. Please make sure that the product selected by you fits your business profile by checking the Schedule of Charges for that Current Account variant on our website > Service Charges and Fees > Business and Corporate Banking. For selecting seasonal and Made2Order Current Account, please visit the branch for further details. Once the request is submitted, your contact details will be updated in 1 working day. To locate the nearest ICICI Bank branch, visit maps.icicibank.com/mobile .
What are the benefits of ICICI Bank BizCircle GlobalLinker?
- Access to large network of businesses (buyers, suppliers, manufacturers, etc.) across various industries and geographies
- Exciting deals and offers relevant to day to day operations of the business (flights, website builder, office stationery, insurance, hotel deals, consulting, advertisement)
- Collaborate and engage with employees internally using the private intranet
- Features like eBriefcase for storing files securely and easy access to e-mails right from logged in section
- Post articles, blogs and start forums for online discussions
- Get access to relevant industry news, updates, articles and discussions
- Create e-commerce store Linker.store at zero fee.
Can I register on ICICI Bank BizCircle GlobalLinker if I don’t have an ICICI Bank Current Account?
Yes, ICICI Bank BizCircle GlobalLinker is open for all and any SME can register for free on the platform.
How do I group multiple Current Accounts?
Grouping means group of accounts coming together to maintain the aggregate balance. The same is treated as a group of accounts for the purposes of Minimum Account Balance (MAB) and free limits aggregation. We offer upto 50% Monthly Average Balance, Lifetime Business Debit card charges waiver in grouping platinum variant. Please visit the nearest ICICI Bank branch along with request letter signed as per Mode of Operation (MOP) on your entity letterhead along with Board Resolution/ Authorisation letter, wherever appropriate. To locate the nearest ICICI Bank branch, visit maps.icicibank.com/mobile . For details, SMS CURRENT GROUPING to 5676766.
How do I close my Current Account?
For account closure, you may submit the account closure request at the account opening branch. The request letter needs to be on the company's letterhead and signed by authorised signatories. The Debit Card if any, and the unused cheques also need to be submitted.
Is there a fee for signing up on ICICI Bank BizCircle GlobalLinker?
No, registering and signing up on ICICI Bank BizCircle GlobalLinker is absolutely free.
How do I track my deliverables for my Current Account?
You may track your deliverables through the following modes:
Log in to Corporate Internet Banking (CIB) > Service Requests > Track Your Deliverables > Enter ICICI Bank Account Number > Submit.
Login to iBizz > Services > Check Status > Track Deliverables
Corporate Customer Care:
You may call our Corporate Customer Care between 8:00 a.m. and 8:00 p.m. To know the local Corporate Customer Care numbers, please click here
How do I find out the minimum balance policy for Current Account?
The details regarding the terms & conditions and Monthly Average Balance/ service charges pertaining to the Current Account (based on the type of account you are holding) have been updated on our website www.icicibank.com > Rates and Charges (footer of the page) > Service Charges and Fees > Business and Corporate Banking.
How do I create a personalised e-Commerce store?
You can create a Personalised e-Commerce store in 5 easy steps:
- Step 1 - Create Account: Sign Up on ICICI Bank BizCircle GlobalLinker and enjoy free access to Linker.store
- Step 2 - Store setup: Select store name and a personalised theme for store
- Step 3 - Add products: Create product inventory
- Step 4 - Business details verification: Share bank account and shipping details
- Step 5 - Publish store: Launch personalised eCommerce store and enjoy the big business advantage!
How do I update GSTIN in my Current Account?
To update Goods and Services Tax Identification/ Registration Number (GSTIN) in your ICICI Bank Current Account, you may visit any ICICI Bank branch or update it online through Corporate Internet Banking (CIB). Update of GSTIN is mandatory for availing of the input tax credit of the GST paid to us.
Process to update GSTIN:
How do I transfer my Current Account to the nearest branch?
Please visit the nearest ICICI Bank branch along with request letter signed as per Mode of Operation (MOP) on your entity letterhead along with Board Resolution/ Authorisation letter, wherever appropriate. To locate the nearest ICICI Bank branch, visit maps.icicibank.com/mobile .
All the linked accounts including Savings Accounts, Flexi Fixed Deposits and Exchange Earners Foreign Currency (EEFC) accounts under the given Customer ID of your Current Account will be transferred to the new ICICI Bank branch.
You are requested not to do any transaction during these 2 working days. If any transaction is done during the processing period, your request for transfer of account will not be completed.
The following details of your Current Account remain unchanged after the transfer of account:
- Your 12-digit bank account number will not be changed
- Existing Electronic Clearing System (ECS) mandates, standing instructions and post-dated cheques already issued will continue to be valid for the account.
How can I update the contact details in my Current Account?
You can update contact details like mobile number, e-mail ID, address by visiting the nearest ICICI Bank branch along with request letter signed as per Mode of Operation (MOP) on entity letterhead. Once the request is made, your contact details will be updated in 1 working day. To locate the nearest ICICI Bank branch, visit maps.icicibank.com/mobile .
How do I approach ICICI Bank to open a Current Account?
What all taxes can be paid through ICICI Bank online?
What is InstaBIZ application?
InstaBIZ is ICICI Bank's powerful user-friendly app that helps Business Banking, Corporate and Institutional customers to execute complex banking transactions with ease from their mobile phones and tablets.
What is Linker.store?
An e-commerce store creator for traditional brick and mortar stores to take their business online at zero fee!
An online Do It Yourself (DIY) store offering - inventory management, e-commerce website with themes, payment gateway and logistics integration at pre-negotiated rates
‘Linker.store’ is offered on ICICI Bank BizCircle GlobalLinker for free and at no extra cost or revenue share on transactions
Please click here to visit the website.
What is ICICI Bank BizCircle GlobalLinker?
BizCircle GlobalLinker is an online business networking platform for Small and Medium scale Enterprises (SMEs) and startups that aims to help them in better managing their business by connecting them with relevant business opportunities and building new connections - all on a single platform. Click here to register for BizCircle GlobalLinker.
How do I update or change my mobile number/ e-mail ID for alert facility in my Current Account?
For registration/modification or deletion of mobile/ e-mail alert facility, please submit a request letter on company's letter head signed by authorised signatories at the ICICI Bank branch.
You can subscribe for the following alert types:
- Credit above Rs 5,000
- Debit above Rs 5,000
- Inward cheque rejection
- Outward cheque rejection
- Periodic Balance