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 You Are Here: Home > Products & Services > Personal Banking > Accounts > Flexible Account
Flexible Account
 
Flexible accounts are available in British Pound Sterling (GBP), US Dollars (USD), Euros (EUR) and Chinese Yuan (RMB).
Flexible Accounts are convenient & accessible.
Friendly counter service available.
Flexible accounts use the floating rate - Interest will be calculated daily on cleared balances and paid quarterly.
Paper Statements are available monthly, quarterly, six monthly or annually.

For more details, please click here to view the General Terms and Conditions.

Customer identification requirements

Applications for opening of a new Flexible account can be made by completing the application form at the branch or by downloading the form and bringing it to the branch. Please click here to view and print the Account Opening Application Form.

If you are a new or existing customer, we are required to verify your identity when you apply for a new account to comply with money laundering regulations. These regulations aim to stop criminals using financial products and services to launder money. They also protect you from criminals who might try to use your identity without you knowing. As a result you will be asked to provide the following identity verification documents (copies of which will be retained for our records).

Please provide two items: one from List 1 plus a separate item from List 2. Please note items from the same source cannot be used twice and one must be proof of address. The name and address detailed on your identity verification documents must be the same as the name and address you provide us during your application.

List 1 (Proof of Identity) List 2 (Proof of Address)
Passport – UK/EEA (unexpired). Unexpired UK/EEA (or Switzerland) photocard driving licence (the date of the licence and photograph must be in date).
Passport – non UK/non EEA (unexpired with a valid visa). Council tax bill/demand letter**
Unexpired UK/EEA (or Switzerland) photocard driving licence (the date of the licence and photograph must be in date). Notification of entitlement to state/local authority benefit**.
EEA or Switzerland national identity card. Notification of entitlement to tax credit**
Notification of entitlement to state/local authority benefit**. Notification of entitlement to pension from the DWP**
Notification of entitlement to tax credit** HMRC (Inland Revenue) coding/assessment/statement/tax credit** (not P45/P60s).
Notification of entitlement to pension from the DWP**. Local council rent card or tenancy agreement**.
HMRC (Inland Revenue) coding/assessment/statement/tax credit** (not P45/P60s). Bank statement***
Utility bill (not mobile phone, satellite/cable TV bills)***
New in the UK
If you have arrived in the UK in the last 2 months and do not hold any of the above documents, please provide a confirmation from your employer/school/college/university/ confirming your name, address and details of employment/student/residence status **.
Please note you must provide one of the above documents within 3 months of opening your account to ensure your account remains active.

** Must be the most recently issued version and less than 12 months old.

*** Must be the most recently issued version and less than three months old (except for water bills – which may not be less than 12 months old).

Opening of a Flexible Account / Time Deposit

Flexible Accounts can only be opened by visiting the branch.

New Time Deposits can also be opened at the branch but if you have online banking, the renewal of the Time Deposit can be completed by logging into your online banking. Please note, a new Time Deposit Account cannot be opened online.

Please bring the original or certidied documents to the Cashier at:

 

ICBC (London) plc

81 King William Street

London

EC4N 7BG

Our business hours are:

Monday-Friday 9.30 – 4pm.

 

Please see the rules relating to certification of documents by clicking here.

Source of Funds/Source of Wealth

The Bank is subject to strict legal and regulatory obligations. In order for us to comply with these obligations we may when processing your application for the opening of your account or from time to time thereafter ask you to provide further information and documental evidence about the source of any funds received into your ICBC accounts. Please click here for more information in regards to source of funds, information and evidential guide.

Acceptance/Refusal

We have the right to decide whether your application for account opening is successful or if further information is required from you. We cannot guarantee that your account opening request will be approved. We hold the right to give no explanation or reasons for any refusal we may give for our decision.

Flexible Account Opening Process

Step 1

Prior to completing the account opening form, you must read the FSCS Information Sheet and the Exclusions List and complete the FSCS Customer Declaration.

Step 2

You must read and understand the General Terms and Conditions and Tariff List.

Step 3

If you are happy to proceed, complete the Personal Account Opening Application Form and Signature card. The application form must be completed in full and completed in English (although signature can be in Chinese if that is your standard signature). The completed forms must be handed into the branch in person.

Time Deposit Application Form (for existing Flexible Account customers)

If you did not select on your Flexible Account opening form that you wish to open a Fixed Time Deposit Account, you are required to complete a new Time Deposit Account Application. You must come in person to the branch to open a Time Deposit Account and bring along your proof of identification document, i.e. valid original passport or driver’s licence with photograph.

To open a new Time Deposit Account the following steps must be followed:

Step 1

Prior to completing the Time Deposit Application Form, you must read the FSCS Information Sheet and the Exclusions List and complete the FSCS Customer Declaration.

Step 2

You must read and understand the General Terms and Conditions and Tariff List.

Step 3

If you are happy to proceed, complete the Time Deposit Account Opening Form and Signature card. The application form must be completed in full and completed in English (although signature can be in Chinese if that is your standard signature). The completed forms must be handed into the branch in person.

(Click here for the Time Deposit Instruction Form).

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