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ICICI Make your account dormant, but do not tell you!
adrian2000
Posts: 512 Forumite
I opened an account in 2007 with ICICI bank online and added some money into the account. had a few transactions over the years, but nothing really in the last year as I was just keeping it their for a rainy day.
The other day I looged onto my account and arranged a transfer got a message to say it would take three days. I checked today as the money as not in my linked account. I ogged back on and no record of the transfer. I tried to do the transfer again, but it stated transaction not allowed. I gave them a call and they said that my account had been made dormant. When I asked why they said it was dormant as I had not used it in the last 6 months. They have never informed me by post , email or phone.
So just be aware that if you too are saving for a rainy day and don't do any transactions in your account for 6 months they could make your accound dormant too!!!
The other day I looged onto my account and arranged a transfer got a message to say it would take three days. I checked today as the money as not in my linked account. I ogged back on and no record of the transfer. I tried to do the transfer again, but it stated transaction not allowed. I gave them a call and they said that my account had been made dormant. When I asked why they said it was dormant as I had not used it in the last 6 months. They have never informed me by post , email or phone.
So just be aware that if you too are saving for a rainy day and don't do any transactions in your account for 6 months they could make your accound dormant too!!!
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Comments
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That's not good. Do you know if you actually need to do a transaction to prevent it becoming dormant, or is simply logging in sufficient?Stompa0
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adrian2000 wrote: »I think you need to do a transaction as I have logged in a few time over the last 6 months
Thanks, in that case it sounds like a real pain.Stompa0 -
I just checked on their website and found this.
20. I received a communication from ICICI BANK UK PLC stating that my Account has become Dormant. What does it mean? If you make no transactions on your Account for a period of more than 12 months, as a precautionary measure, we would classify your account as 'Dormant'.
After classifying your account as 'Dormant' and we will not be able to process instructions for:
Cash and Cheque Deposits in your Account Cash and Cheque based Withdrawals Renewal of ATM/Debit Card Issue of fresh cheque book Change of Address Transactions through Internet Banking Password Regeneration or change of linked Savings Account
For reactivation of a Dormant Account, you will have to visit one of our Branches in person and submit your Proof of Address and Identity.
Note: Your money in a dormant account will always be your property or if you die it will become part of your estate, no matter how many years have passed .0 -
adrian2000 wrote: »I just checked on their website and found this.
20. I received a communication from ICICI BANK UK PLC stating that my Account has become Dormant. What does it mean? If you make no transactions on your Account for a period of more than 12 months, as a precautionary measure, we would classify your account as 'Dormant'.
After classifying your account as 'Dormant' and we will not be able to process instructions for: Cash and Cheque Deposits in your Account Cash and Cheque based Withdrawals Renewal of ATM/Debit Card Issue of fresh cheque book Change of Address Transactions through Internet Banking Password Regeneration or change of linked Savings Account
For reactivation of a Dormant Account, you will have to visit one of our Branches in person and submit your Proof of Address and Identity.
Note: Your money in a dormant account will always be your property or if you die it will become part of your estate, no matter how many years have passed .
This has got to be a wind up...."visit one of our branches in person..."? I'm sorry, but I would rather invest my money elsewhere and not have to go through this palaver.0 -
Yes seems kind of stupid, logging in should be adequate. Banks are always banging on about costs, that just promotes needless transactions as I need to transfer an insignificant amount out and back again just to get round that.Hope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0 -
I had a zero balance "dormant" account with them, I thought it was closed!
All that was required to re-activate was a 'phone call and a new password, sent to the registered address, it was then possible to access and close properly.
So in my case nothing was needed re proof of address etc.. I don't recall receiving anything from them advising the account was dormant either otherwise I would have done something sooner.0 -
Do ICICI have any branches?
I don't think I've ever seen one!0 -
Do ICICI have any branches?
I don't think I've ever seen one!
I have!
http://maps.google.co.uk/maps?hl=en&q=park+lane,+london&ie=UTF8&hq=&hnear=Park+Ln,+London+W1K,+United+Kingdom&ll=51.502572,-0.154495&spn=0.020222,0.038409&z=15&layer=c&cbll=51.502604,-0.154309&panoid=nUKBfXdmpeCH8ewLqluILg&cbp=12,168.62,,2,-1.81Stompa0 -
Don't think I'll be nipping down to London (from Scotland) anytime soon to reacivate a dormant account!!!!
This is a real pain - time to move accounts again!0
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