ICICI Bank

dancingdandare

its nice to see some people talking sense.....we need to just sit tight, there is no indication that ICICI have any real problems. But they will have if everyone keeps taking money out. The website is probably slow because stupid people are trying to take money out. DON'T MOVE IT......LEAVE IT ALONE.....and stop panicking....I have a lot of money in ICICI and i also had some in ice save, in total some 65k....I am not worried.....ice save was always going to be a problem with the whole country built on bankings......and that they had borrow some 9 times it GDP....India is not in anyway the same..............lets all stop panicking and just sit tight......

lectureral

In sunny France at the moment - I have the login page bookmarked as

http://!!!!!!!.com/ynvkuv

I don't know why it came up like that - replace !!!!!!! with tiny url (no space).

pablo1827

Took the 7.2fixed rate [1yr] with icici last week on the basis that iam covered by the FSCS and after looking at the guarantees on this site and money supermarket.Please tell me iam definately covererd.

dancingdandare

please people have a look at this .......it has enough money basically to be ok, so stop taking money out, plus we are all fully covered up to 50k by FCSC.

CLICK ON LINK

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

tasty_snacks

agsnu wrote: »

Basically, in a word, NO. Deposits are made by DD, withdrawals by BACS. You cannot be the beneficiary of a DD.

this makes much more sense, as companies have to be affiliated to be part of the DD scheme. it also opens up the chance to call the funds back into your account. i believe customers of icesave are attempting this.

JimmyTheWig

pablo1827 wrote: »

Took the 7.2fixed rate [1yr] with icici last week on the basis that iam covered by the FSCS and after looking at the guarantees on this site and money supermarket.Please tell me iam definately covererd.

As long as you have less than £50k in there, you are fine.

The potential problems are...

1. Whoever guarantees the money doesn't pay up (e.g. Iceland government).
With ICICI we are talking the UK government so I think you're safe there.

2. You may need to wait for your money. Up to three months has been mentioned.
You've got over 11 months before you can take the money out, so you're fine.

3. You may lose interest whilst waiting for the FSCS to pay out.
Not much you can do about that one.

Your alternative is to take your money out which will cost you as it is a fixed bond. Then put your money elsewhere, earning less interest.


So if you keep your money in and the unlikely happens and they do go bust you may lose out in interest. But if you withdraw your money now you will lose out in interest.

Andrew64

Just supposing ICICI in India got into serious trouble and decided to take all the money in ICICI UK and bring it to India. I think this was why Kaupthing Edge was suddenly seized - to stop the money being sent to Iceland.

Is there anything to stop this ocurring?

wilh

icici website is down - has this bank folded?

alchemistkevin

wilh wrote: »

icici website is down - has this bank folded?

lol. No. I have been speaking with someone in the bank today and transferred two five figure sums in there.

northern5

its ok for me, though I think its only a matter of time because all UK savers have lost faith in foreign banks...