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ICICI Bank UK has announced that it will launch a new account specially designed for Indian students that are planning to pursue their higher education in Britain. The account has been named ‘HomeVantage Current Account’ (HVCA) and comes with a visa debit card that can be used anywhere in the world.
Moreover, according to ICICI Bank UK, a wholly-owned subsidiary of Vadodara-headquartered ICICI Bank, the account can also be digitally activated before the students leave India for the UK.
Similar to savings accounts in India, internet and mobile banking can be activated by the account holder once their account has been activated. The students from India can choose for the debit card to be delivered to an Indian or also to the UK address.
“We understand the unique banking requirements of students coming to the UK for further education and endeavour to make banking effortless for them,” Pratap Singh, Head Retail Banking, ICICI Bank UK plc told the Economic Times.
“The digital account opening facility helps the Indian students with smooth onboarding to the UK bank account while they are still in India. The HomeVantage Current Account and the visa debit card help them to take care of their day-to-day banking requirements in the UK,” he added.
According to ICICI Bank UK that this special account is a part of its efforts to serve the Indians for over a decade through a range of business, personal, as well as corporate banking services. Apart from this, those who want to open joint accounts can reach any of the branches of ICICI Bank.
With Indians crossing the Chinese to become the largest nationality being issued visas to study in UK institutions, nearly 118,000 Indian students have received student visas this year – an 89 per cent increase.
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