ICICI Bank

Jim_B_3

mr_fishbulb wrote: »

It's not on BBC.

As popular as it is, I don't think MSE members can bring down ICICI

How about another small country? The film of it could be "MSE Does The Maldives". They're about the same size as Iceland, by population.

JimmyTheWig

My guess is that it's the website gone down after too many people started taking their money out. It's not the most reliable website out there, is it!

But in any case, is it worth adding this into the thrice daily updated "Are Your Savings Safe?" article?

darren72

I've spoken to ICICI who inform me that the website is down for planned maintenance to cope with demand.

Weluvdarling

ICICI should definitely be included in the "Are Your Savings Safe?"

Jim_B_3

I've got my own parachute, I've recently taken up SCUBA, I ride a motorbike that I have crashed and probably will again, I've sailed into storms that tore the mainsail in half (in the daylight, fortunately, so we could at least see to do something about it) and when I go climbing I begrudge wearing a safety helmet. None of these are nearly as fearsome as watching the international money machine churning round with almost half my life savings buried in its rabid chops.

I think it fair to say in the future I'll only gamble with my life; not with my savings!

agsnu

Andrew64 wrote: »

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?

Even if this did happen, the FSCS would cover you.

alared

Maybe we should all go back to our local building society with a passbook!

MadSage

MSE_Martin wrote: »

It is a UK licenced bank with all the £50,000 limit protected; if you've less than that in there, there is no risk to your money whatsoever, regardless.

There is still a risk for people who need access to their money to pay bills and don't have other accounts. If the indicators are correct and the bank does go under, those people have a big problem. I don't think this is considered enough.

I agree people shouldn't start withdrawing all their cash, because it is protected, and withdrawing the cash will not help the situation the bank appears to be in, but people who pay their bills from an account held by a bank which is at risk, need to know the situation. The bank may be ok, but then again it may not, so they should be prepared. It seems the panic began in India weeks ago and was even televised, so the bank may already have lost billions in recent weeks.

hackettblue

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?

OhPoopy

I've just logged into my account on the ICICI bank site and it is working fine for me. It's responding well too. It was okay about 25 min ago too.

Could just be a network issue stopping some parts of the internet from reaching the server which hosts the site. (I work for an ISP so am nearer the 'core' of the internet than most).