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Why isn’t a joint account (ICICI) holder allowed to open a sole account?


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Written on: 17.11.2009 [12:06]
Sienna
Sienna
Topic creator
Posts: 4
I was reading about the new HiSave account and was interested in opening it online and then sending a cheque from my ICICI joint account. ICICI then replied saying that if I wanted to open a HiSave account in just my name the opening cheque had to come from a single account too. They also said that with a joint cheque I can only open a joint account. Why is this? Is this normal?
Written on: 22.11.2009 [21:35]
Rigaud
Rigaud
Posts: 1
It seems it is in their terms and conditions: “To open a HiSave Savings Account, you must make a deposit (of minimum £1), by cheque, from a personal current account in your name at a UK bank or building society. If you are opening a joint account, your deposit cheque must be from a personal current joint account which is in name of two of you.” Perhaps you would be better off going for a different institution? If not and you really want this account then I suppose you could open a current account in just your name and then apply for the HiSave account.
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