ICICI: "RVSL FOR TRF" - what does this mean?

oliver_m_2

Good morning,
I've openend an ICICI HiSAVE account around January 2008.
and made a test deposit of £ 100.00 in March 2008.
My account was then displaying

Sr.No: 1
Date: 06/03/2008
Description: RVSL FOR TRF ON 04/03/08
Debit: 100.00
Balance: 1.00
***********************************************
Sr. No: 2
Date: 04/03/2008
Description: BY INST 83400 : ECS DD
Credit: 100.00
Balance 101.00
***********************************************

Does anyone know about "RVSL FOR TRF"?
This question was already discussed here
http://forums.moneysavingexpert.com/showthread.html?t=779909

But there was yet no satisfying answer...

I did phone ICICI though but the English of ICICI's employees were not
understandable. So I gave up on that and left about £ 1.00 on that account.
Now, with the new interest rate of 7.2% for the 1 year term I'm curious
to know on how to fix the "RVSL FOR TRF" error.

Thanks in advance,
Oliver

isofa

I'm guessing reserved for transfer? It's certainly something for transfer...

dunstonh

I reckon "reversal for transfer". It appears to be a recalled s/o, d/d or transfer. If it was a first payment and the transfer was using direct debit, then a common error is that the mandate wasnt set up at the bank at the time the transfer was made so the bank recalled it.

oliver_m_2

Thank you, dunstonh!
It was indeed my first payment via direct debit. And you are right the mandate was not set up at my bank (Halifax) at the time the transfer was made so my bank recalled it.
- in fact the direct debit has not been set up at all (I've just looked it up)!
Although ICICI claimed this via email to me in February 2008:

[FONT=Arial, Helvetica, sans-serif]We have arranged for a new direct debit to be set up on your nominated current account provided by you at the time of application. This direct debit enables us to execute any funds transfer that you may initiate from your HiSAVE account using the 'Receive Money' option available in our website.[/FONT]

I have waited over a month to ensure that the direct debit is really set up before making the first payment.
Now this is really annoying of ICICI - claiming that they have set it up while nothing has happened. Pretty crap service...

Anyone with the same experience?

Paul_Herring

It would appear to mean that ICICI are still having trouble finding their rear end with both hands, a torch, and a map, even after all this time.

Pretty crap service...

Anyone with the same experience?

A substantial number of people on these boards won't deal with ICICI precisely because of their customer service.

I will only (re)open an account with them if their rates are substantially more than the competition.

isofa

Personally I'm with Paul, there have had such a bad rep, that I' wouldn't touch them either, I couldn't care less if a bank is offering a massive rate, if they have a poor customer service, I'm not interested (and on that basis I'll never touch Abbey again!). I've had totally different experiences (i.e. very good) from some of the other top rated accounts.

Reversal it must be, I'd have guessed that dunstonh would have known

ICICI_Bank

Dear Customer ( Oliver M.)

Please write to us at [EMAIL="headservicequality@icicibank.com"]headservicequality@icicibank.com[/EMAIL] with account number and contact details. Please use subject line as " Comments from Site".


Sincerely,

Uma Lakhani
Office of Head Service Quality
ICICI Bank.

Paul_Herring

ICICI_Bank wrote: »

Dear Customer ( Oliver M.)

Please write to us at [EMAIL="headservicequality@icicibank.com"]headservicequality@icicibank.com[/EMAIL] with account number and contact details. Please use subject line as " Comments from Site".


Sincerely,

Uma Lakhani
Office of Head Service Quality
ICICI Bank.

(Presuming this is genuine) Why on earth should they write to you? All they want to know is what the abbreviation means. Why couldn't you have just told us all what it means instead of getting people to email you individually to what appears to be a non-UK email address.

Incidentally, looking at the user name part of that email address, does this mean that ICICI are finally thinking of making an effort to putting some quality into their customer service? (Rhetorical question btw)

milocoon

After 4 weeks and 5 Service Request Complaints after ICICI made TWO Direct Debit requests I have had my bank charges and postage to them paid - what a nightmare.
If I had not had spare funds which I transferred to cover their co** up, my bank charges would have escalated as i was over my agreed overdraft.
If I were you "Send them the money from your account" so you are in charge, never going to allow them to DD my account again.
I had a phone call prior to the email below when they admitted TWENTY faulty DD transactions on the 4th July.

Heres the email with names removed

Dear Mr. Deleted Name

We are sorry to learn of your dissatisfaction with the level of service you have received from us. Such feedback from our customers is always welcome and is vital to us in achieving our aims in customer service.

We have received your complaint regarding fund transfer into your HiSAVE account. We have investigated your complaint and found that on 1 July 2008 you placed an online request to transfer £2500 on 3 July 2008 into your HiSAVE account. Due to a technical problem the amount of £2500 was pulled into your HiSAVE one extra time on 4 July 2008 leading to bank charges in your linked account.

We regret the inconvenience caused to you and as discussed and agreed we have credited £25.50 in to your HiSAVE account towards the bank charges applied by your linked account bank.

Please do not hesitate to write to us at ukcustomerrelations@icicibank.com if you require further assistance in this matter.

Please note that, under terms of our Complaints Procedure, this is our final response. If you are dissatisfied with it, you may refer your complaint to the Financial Ombudsman Service (FOS). You need to do this within six months from the date of this letter. For more information please visit the link http://www.financial-ombudsman.org.uk/consumer/complaints.htm and read the guide ‘Your Complaint and the Ombudsman’. If you are unable to open a link please let me know and we will send you a hard copy of leaflet.

Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR

Yours sincerely,

Deleted Name
Service Quality Team
ICICI Bank UK PLC