Disclosure Statement for Business Chequing Plus Account The following information sets out our schedule of charges for Business Chequing Plus accounts effective May 1, 2014. Unless otherwise stated, all fees and charges are in Canadian Dollars. ICICI Bank refers to ICICI Bank Canada. 1.0 Account fees, minimum balance and currency Details Minimum balance requirement Monthly administrative charges Currency of the Account Minimum number of CompuSafe linked to account for Daily Credit and Deposit Services Value Canadian Dollar One 2.0 Daily Credit and Deposit Services for CompuSafe Service 2.1 Monthly Administrative fees and rebates Plan option Service and collection Monthly Administrative plans Fees per CompuSafe unit Plan 1 Once a week pickup $300.00 Plan 2 Twice a week pickup $425.00 Plan 3 Three times a week pickup $525.00 2.2 Amount of and frequency of charges The account will be charged on the first business day of each month based on the number of CompuSafe units linked to the account during the previous month. The account will be charged a monthly administrative fee for each CompuSafe units linked to the account at any time during the month. 2.3 Eligible content and deposit charges Content category Eligible content Currency Canadian dollar bills 1 & coins Currency US dollar bills Cheques Canadian and US dollar currency cheques drawn within Canada on a Canadian Bank or Financial Institution
3.0 for electronic transactions 3.1 Corporate Internet Banking Transaction Type Transfer money online from Business Chequing Plus account to a linked external chequing account in Canada Transfer money from Business Chequing Plus to a third party s ICICI Bank account Bill payment 2 View or download statement 3.2 ABM Card Issuance An ABM card may be issued to a maximum of two authorized signatories on the Business Chequing Plus account, and subject to other requirements of ICICI Bank. There are no charges for ABM card issuance. The ABM Card is issued in person at any of ICICI Bank Canada s Branches. 3.3 ABM Card Transaction Fees Transaction type Deposit Transactions other than cash deposits: 3 i) ICICI Bank ABMs and ii) THE EXCHANGE Network of ABMs Withdrawal Transactions: 3 i) ICICI Bank ABMs and ii) THE EXCHANGE Network of ABMs Interac Direct Payment (POS Transactions) Withdrawal Transactions at Interac Network of ABMs (Inside Canada) 4 Transactions at other Canadian, U.S. and International ABMs 5 4.0 Transaction at Branches $1.50 per transaction $1.50 per transaction Transaction Type Withdrawal (debit) transactions Deposit (credit) transactions other than Cash and coins Bill payment 2 Cash Deposits Coin Deposits (rolled or boxed) Issuance of Draft 6 Request for refund or replacement of lost or stolen Draft $2.00 per $1,000 deposited $2.00 per $100 deposited $7.50 per draft $10.00 per draft
4.1 Bulk Remittance: Transfer money to India in one transaction request to multiple individual beneficiaries. for Bulk Remittance Up to 40 Above 40 beneficiaries beneficiaries per request per request $5.00 per beneficiary $4.00 per beneficiary 5.0 Wire Payment request at Branches Transaction Type Outgoing transaction without currency exchange $25.00 at Branch 7 per transaction Outgoing transaction with currency exchange $10.00 at Branch 7 per transaction Incoming wire transfers $10.00 per transaction Investigation fee for non-bank errors 6.0 Account Handling Fees Account closed within 180 days of opening (except transfer within ICICI Bank or account closed within 14 days of being opened) $25.00 Monthly statements sent by email Monthly paper statements for Business Accounts $5.00 per month (on request) Duplicate statement $10.00 Interim statement $10.00 Certificate of Balance $25.00 Transfer/Bank draft sent by mail or courier Draft charges, plus postage or courier charges Account balance transferred to another financial institution $25.00 7.0 Credit Reports (Individual & Commercial) Inquiry in Canada, written Inquiry outside Canada, written 8.0 NSF (non-sufficient funds) Items returned by ICICI Bank (cheques, pre-authorized $42.50 debits, money transfers,electronic fund transfer etc.) Items deposited and returned by other Financial Institutions (cheques, electronic deposits, online transfers, etc.) $5.00
9.0 Cheque Handling Stop payments 8 $15.00 Returned items (including mail advice to payee) 9 $5.00 Cashing Government of Canada cheques (federal cheques) 10.0 Collection Items Canadian or US cheque sent for $55.00 re-presentment in Canada Canadian Dollars, US Dollars or other foreign 0.20% (min. $30.00 and currency cheques payable outside Canada max. $150.00) Collection item returned unpaid 9 $15.00 Correspondent banks may apply a service charge for collection items. 11.0 Searches and Notices Searches (e.g. Cheque copy) 12.0 Cheque Book A charge will apply depending upon the type of cheque book requested. For information on charges, visit an ICICI Bank branch or contact your relationship manager. 13.0 Canada Deposit Insurance Corporation Certain deposits are eligible for deposit insurance from the Canada Deposit Insurance Corporation ( CDIC ), subject always to maximum coverage limitations as outlined in CDIC s brochure 'Protecting Your Deposits' and provided the deposits are in Canadian funds, are payable in Canada, and have a term of no more than 5 years. For further information, please contact CDIC at 1-800-461-CDIC (2342) or visit their website at http://www.cdic.ca/protecting_your_deposits.html 14.0 Dormant Account When there has been no customer activity on your account for 24 months, your account becomes dormant. A notice of dormancy will be mailed to the customer's last known address. Notices are only sent after the 2nd and 5th year the account has been dormant. 2 years dormant charges: $20.00 per annum for each of years 3-5 inclusive. 5 years dormant charges: $30.00 per annum for each of years 6-10 inclusive. 15.0 Hold Funds Policy When you deposit a cheque into your account, either through an ICICI Bank ABM, by mail, in CompuSafe unit or at one of our branches, the entire amount may be Held. When you deposit a cheque or cash into your account through any of THE EXCHANGE Network of ABMs, the entire amount may be Held. Some cheque or non-cash deposit may be subject to verification processes and may require a longer than usual hold period The credit for such deposit may not be given until we have verified its authenticity and details. You will not have access to these funds until the hold period expires.
A Hold may be placed on your account for the total amount of the deposit as follows: A cheque deposited either through an ICICI Bank ABM, by mail or in person drawn on ICICI Bank within Canada will not be subject to a hold period. A cheque or other instrument deposited either through an ICICI Bank ABM, by mail or in person drawn on another financial institution within Canada will be subject to a maximum five-business day excluding the day of deposit; with the exception that, subject to certain terms and conditions set out in the Access to Funds Regulations, where such cheques or other instruments are drawn in Canadian Dollar on a financial institution within Canada and for $1,500 or less, the cheque will be subject to a maximum four business day hold period, excluding the day of deposit, if it is deposited in person with an employee at one of our branches; and a maximum five business day hold period, excluding the day of deposit, if it is deposited in any other manner; where such cheques or other instruments are drawn in Canadian Dollars on a financial institution within Canada and for greater than $1,500, the cheque will be subject to a maximum seven business day hold period, excluding the day of deposit, if it is deposited in person at one of our branches; and a maximum of eight business day hold period, excluding the day of deposit, it is deposited in any other manner 10. Bank drafts or certified cheques deposited by mail or at an ICICI Bank ABM or in person drawn on another Canadian financial institution within Canada may be exempted from a regular hold period so long as ICICI Bank receives confirmation of funds from the other financial institution. In respect of all cheque and other instrument deposits, a cheque or other instrument deposited either through an ICICI Bank ABM, by mail or in person on Saturday, Sunday or any banking holidays will be deemed to have been deposited on the next business day. Cash deposited through an ICICI Bank ABM will not be subject to a hold period. A cheque or other instrument or cash deposited through any of THE EXCHANGE Network of ABMs (cheque or other instrument drawn either on ICICI Bank or another financial institution within Canada) will be subject to a maximum five-business day hold period. A cheque deposited by mail or in person drawn on a financial institution outside Canada will be subject to a maximum forty-day hold period. Electronic transfer of funds initiated by you from your linked account with another financial institution anywhere in Canada and credited to your account with ICICI Bank will be subject to a maximum five-business day hold period after day of credit to your account. We may refuse to accept or lodge any cheque or non-cash deposit if we have reasonable grounds to believe that the deposit is being made for illegal or fraudulent purposes. If a cheque is damaged or mutilated, we reserve the right not to accept that instrument. We reserve the right to reject a cheque which has been endorsed more than once. Cheques not encoded or partially encoded cheque drawn on financial institutions located in Canada may be held up to 15 business days. If a cheque or non-cash item deposited is returned for any reason after the hold period expires, we have the right and will charge the amount of the item to your Account. A hold period provides no guarantee that a cheque or other non-cash deposit will not be returned unpaid after the hold period expired. Please note Saturday, Sunday and holidays are not business days for clearing and settlement function. A cheque may be returned if it is materially altered, whether apparent or not, up to a period of 90 days from the date the paying bank receives the cheque as per Canadian Payment Association rules.
Notice of Changes to Fees and Listed in this Disclosure Statement You will be informed of any new fees or increases to fees and charges: If a monthly statement (either electronic or paper) is provided to you then: 30 days prior to the effective date, by means of a notice provided with your statement of account or through a separate notification letter. If a monthly statement is not provided to you then: 60 days prior to the effective date, by means of a notice displayed at ICICI Bank branches and on ICICI Bank s website. 1 Only Canadian dollar bills deposited into the electronic bill acceptor of CompuSafe unit are eligible for daily credit. 2 Bill Payment Facility: Please note that it takes up to 5 business days to process a bill. However, there may be instances where a payee may not accept payments online and in such cases the bill payment facility will not be available. In such cases it may take up to 10 business days for processing payments 3 Neither ICICI Bank nor any of THE EXCHANGE network ABM providers impose a surcharge for ABM deposits, withdrawals and inquiries. 4 Interac surcharges apply. 5 ABM providers may impose a surcharge. 6 Correspondent banks may apply a service charge for drafts. 7 Correspondent banks may apply an additional service charge for processing incoming as well as outgoing money transfers. Rates and charges for International Money Transfers are subject to change without prior notice. 8 Stop Payment of a cheque can be requested, provided that the processing of item has not been initiated 9 If a cheque other than currency of account is returned unpaid, the Bank will debit the account and apply its foreign exchange rate of that particular day on which the transaction has been reversed. This is in addition to the other charges that may apply for return of cheques. 10 This includes deposits made in the CompuSafe unit. For purpose of calculation of hold period in case of deposit in CompuSafe, the day of deposit is the day when the cheque is deposited for clearing.