ICICI Bank

EalingSaver

valderee wrote: »

Yep, we're back in business at last... never known the site work so fast!

Absouletly. Just logged in. The site has always been a dog - now its working at warp speed (well not quite, but all things are relative). They must have just plugged a whole new server farm into the system - which would explain the earlier problems peeps were having.

pillsbury33

Wow - talk about scaremongering! As far as I'm concerned ICICI is as safe as any other bank, and as long as everyone has less than £50,000 in their account there is little to worry about. For those who are quoting CDS figures, here's an excerpt from an article on Reuters:

MUMBAI (Reuters) - Indian bank ICICI's (ICBK.BO: Quote, Profile, Research, Stock Buzz) exposure to the creidt crisis is likely to hurt its profits but will not dent its credit profile, rating agency Standard & Poor's said on Friday after a sharp drop in the bank's share price.

If this bank does go down, and with my £35k in it, it will be thanks to all the idiots who are busily looking after themselves, listening to rumours, and withdrawing their money. A self fulfilling prophecy! Did we not learn anything from Northern Rock?

cshowell

hackettblue wrote: »

Ok, so we have £65,000 in ICICI and I'm a little bit nervous about the fact that I can't get on line. So if the worst should happen and things go 't' up are we covered for the whole amount?

If it is a joint account you are covered (as you are covered for up to £50k each), but if it is in the name of one person you are only covered up to £50k, so recommend you move £15k elsewhere.

stevemcol

pillsbury33 wrote: »

Wow - talk about scaremongering! As far as I'm concerned ICICI is as safe as any other bank, and as long as everyone has less than £50,000 in their account there is little to worry about. For those who are quoting CDS figures, here's an excerpt from an article on Reuters:

MUMBAI (Reuters) - Indian bank ICICI's (ICBK.BO: Quote, Profile, Research, Stock Buzz) exposure to the creidt crisis is likely to hurt its profits but will not dent its credit profile, rating agency Standard & Poor's said on Friday after a sharp drop in the bank's share price.

If this bank does go down, and with my £35k in it, it will be thanks to all the idiots who are busily looking after themselves, listening to rumours, and withdrawing their money. A self fulfilling prophecy! Did we not learn anything from Northern Rock?

mate, they'll all be at the petrol pumps tomorrow, just in case. it really does wind me up. the world is talking itself into a depression.

formulaonefan

bobmccall wrote: »

Problem is, when the IceSave people said on Moneybox that everything was safe, I belived them and thought everyone was scaremongering, so left my £17k there - now I'm gonna have to wait months to get it back.

Same with ICICI, I'm minded to leave my money in it (not least because half of it is in a fixed rate till mid November), and I'm not the type to follow the (possibly ill-informed) crowd - BUT, I don't want to be burned twice.

At least the website is back.

Some users in this savings board bite my head off for saying could Icesave & KE go bust? All I wanted is....what are the next steps if banks goes bust to keep prepared. Those idiots have since disappeared. My money got locked for a week in KE but it all cleared and got my money. Looks like Icesave users may have to wait longer (not sure how long) to get their money.

formulaonefan

stevemcol wrote: »

mate, they'll all be at the petrol pumps tomorrow, just in case. it really does wind me up. the world is talking itself into a depression.

How on earth can we talk ourself into depression? There is no such thing as talk up or talk down.

I accept to a certain extend ppl panicking and taking money out can cause big issues. BUT have you gone through what icesave/ke users gone through? I have! I put my money in KE and it went missing from all bank accounts for a whole week. All my life saving in few minutes was no where. It was as if it didn't even exist.

Some users here are defending because they got fixed term and will lose interest if they take out. But I would rather lose interest then lose my whole life saving. I learned my lesson with KE going bust. I did not leave any money in ICICI. It was taken out. Not taking any chances.

formulaonefan

pillsbury33 wrote: »

Wow - talk about scaremongering! As far as I'm concerned ICICI is as safe as any other bank, and as long as everyone has less than £50,000 in their account there is little to worry about. For those who are quoting CDS figures, here's an excerpt from an article on Reuters:

MUMBAI (Reuters) - Indian bank ICICI's (ICBK.BO: Quote, Profile, Research, Stock Buzz) exposure to the creidt crisis is likely to hurt its profits but will not dent its credit profile, rating agency Standard & Poor's said on Friday after a sharp drop in the bank's share price.

If this bank does go down, and with my £35k in it, it will be thanks to all the idiots who are busily looking after themselves, listening to rumours, and withdrawing their money. A self fulfilling prophecy! Did we not learn anything from Northern Rock?

Please dont talk about scaremongering. I said something about KE & Icesave going bust but no one would listen and I was branded scaremongering. Look what happened?? Some of my indian friends hold ICICI bank a/c and they are concerned what is happening. The govt will step in and take it over if there is trouble with this bank but I think like iceland, the first priority will be for its nationals. They won't worry about international bank a/c holders just like iceland. That's why I moved all my money from international bank a/c. Govt. wants to help their own country ppl first. I'm safe with UK bank a/c

What is the credit risk score for ICICI?

Andrew64

formulaonefan wrote: »

What is the credit risk score for ICICI?/quote]

According to this article the CDS is 900.

http://www.bloomberg.com/apps/news?pid=20601091&sid=aPAn3CZ_qBvc&refer=india

Swipe

If the Indians are withdrawing their money too at the other end I'd get any money out sharpish if you need access to it within the next 6 months. The FSCS is going to be backlogged for the next few months. They are about to have 300,000 forms to process.

kipperman

formulaonefan wrote: »

How on earth can we talk ourself into depression? There is no such thing as talk up or talk down.

I accept to a certain extend ppl panicking and taking money out can cause big issues. BUT have you gone through what icesave/ke users gone through? I have! I put my money in KE and it went missing from all bank accounts for a whole week. All my life saving in few minutes was no where. It was as if it didn't even exist.

Some users here are defending because they got fixed term and will lose interest if they take out. But I would rather lose interest then lose my whole life saving. I learned my lesson with KE going bust. I did not leave any money in ICICI. It was taken out. Not taking any chances.

Totally agree - I did not take my money out of Icesave as I did not want to join the "sheep" - result- cannot get hold of my money for a while yet and a pretty unpleasant Tuesday until Darling made his announcement about full compensation.

Cleared out my ICICI account Wednesday morning

Is there anyone out there who got burnt by Icesave who doesn't feel the same?

Baaaaaaaaaaaa