ICICI fixed rates drop

Update: ICICI replied saying to cancel I need to write to them, but surely by the time they receive my letter (Mon or Tues) they will have already banked my cheque which I sent on Wed!? Then they will say I cannot cancel as the account has been opened....

Have I got grounds for complaint to apply for the original interest rate of 7.1%, given then I applied before 7 November 2008?

Don't even think about getting clever with ICICI or pushing your 'rights' - they don't believe in rights and are very difficult to deal with - on the other hand, they do have leading rates. You'll soon learn to just go with their rules or withdraw your money; unfortunately, there's no middle ground

Kavanne wrote: »

No into my halifax account I only get £2500 a quarter. But with some fiddling I could probably manage it... does the £1000 have to remain in the account?

No, because it's a current account, it's expected that money will flow through the month. In theory, you could receive money one day, wait for it to register overnight and move it out by FP the next - just watch out you don't set off money-laundering alarm bells. I did that for 3 months with co-op, but I wouldn't have wanted to push it much further. I think they call it 'cross-firing' when you move money back and forth between accounts to make it look like you have a cashflow.

The £1000 doesn't have to go in in one go, so if you get £830 each month, you can just withdraw £170 and pay it back in a couple of days later. On the other hand, if you get £2500 paid in in one go every 3 months, you have a bit more fiddling to do.

edit - Remember you only have until 1 December (or earlier if pulled!) to apply, open and fund the GSR with £2500. Read the Ts & Cs carefully, because there are quite a few caveats.

Ok so following my earlier email asking HOW to cancel my application I have just received an email saying my application HAS been cancelled!!! I never said 'please cancel my application'! (all my email said was, 'how do I cancel my application?' and my name)

Right so I just got an automated email saying all applications where cleared funds are received AFTER 14Nov will get the new LOWER rates. Just phoned ICICI to make SURE my app with them was cancelled (it wasn't) and get a reference, but they said to call back on Mon to check!!!! Going to phone Hfax to tell them the cheque has been lost and to cancel it (because after this experience I wouldn't trust ICICI as far as I could throw them). Just opened a guaranteed saver reward with Hfax!! Thank for the tip, LTL

Just have to remind myself to do some money fiddling from my websaver once a month (I usually put my pay into it and transfer over just 830PM to my current account)