Voluntary Code of Conduct and Public Commitments

ICICI Bank complies with many industry Codes of Conduct and Public Commitments that are designed to protect consumers.

The Financial Consumer Agency of Canada (FCAC) monitors our adherence to Codes of Conduct and Public Commitments.

Voluntary Codes of Conduct

Code of Conduct for Federally Regulated Financial Institutions—Mortgage Prepayment Information

This code of conduct outlines the type of information consumers will receive to help them make an informed decision about prepayment of their mortgage.

Canadian Code of Practice for Consumer Debit Card Services

This code of conduct outlines practices and responsibilities which help to protect consumers who use debit card services.

Code of Conduct for Credit and Debit Card Industry in Canada

This code of conduct sets the principles for business practices related to the issuance and acceptance of payment cards and operation of payment card networks.

Canadian Bankers Association’s Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses

The Canadian Bankers Association (CBA) has developed a code of conduct model that states minimum standards for banks when dealing with small and medium sized businesses.

Principles of Consumer Protection for Electronic Commerce: A Canadian Framework

The principles provide a framework for commerce over open networks, including the internet.

Code of Conduct for the Delivery of Banking Services to Seniors

A code of conduct that sets out principles that apply to banks to guide them when they deliver banking products and services to Canada’s seniors.

Public Commitments

Canadian Bankers Association's: Commitment to Provide Information on Mortgage Security (2014)

This Public Commitment outlines information banks must provide on the different types of mortgage security banks take when consumers borrow funds through a mortgage for the purchase of a home.

Canadian Bankers Association's: Commitment on Powers of Attorney and Joint Deposit Accounts (2014)

This public commitment sets out the minimum information about Powers of Attorney and Joint Deposit Accounts that banks must provide consumers who want to give someone else the authority to do banking for them.

Commitment on Modification or Replacement of Existing Products or Services (2012)

This public commitment outlines the procedures for banks to provide consumers with information related to the modification or replacement of existing products and services.

Canadian Bankers Association’s Guidelines for the Transfer of Registered Plans

This commitment outlines the maximum amount of time that banks may require when transferring registered deposits between financial institutions.

Fraud Protection

These commitments outline consumers’ liability in relation to fraudulent transactions on their credit cards.

• MasterCard
• Visa
• Interac

Low-Cost and No-Cost Accounts

Banks in Canada have agreed as an industry to adhere to the public commitment of Low-cost and No-Cost Bank Accounts by expanding their offerings of low-cost and no-cost bank accounts. The commitment is intended to protect consumers and save Canadians money by making banks offer low-cost bank accounts to any individual and offer no-cost accounts to youth, students, seniors qualifying for the Guaranteed Income Supplement, and to Registered Disability Savings Plan beneficiaries.

Canadian Bankers Association: Online Payments

This public commitment outlines the practices and responsibilities of the consumer and the industry when using on line payments systems in Canada.

Plain-Language Mortgage Documents—Canadian Bankers Association Commitment

This document reflects the banks’ commitment to improving the understandability and readability of residential mortgage documents.

To view the details of above Voluntary Codes of Conduct and Public Commitments on Canadian Bankers Association website, please visit: https://www.cba.ca/voluntary-commitments-and-codes-of-conduct