ICICI account creation and running how does it work?

theAnarchist

Hi I have just set up an account with ICICI.

I take it I need to send an chq for £1000 to open the account.

Do they allow you to make a deposit later or is your initial deposit the fixed amount sum?

Do I just sent them a chq for the full amount that I want in my account?

Can you top the account up with savings periodically?

Can you manage your account online?

thanks

JCB2020

You dont say which type of account!

We have HiSAVE savings accounts - linked to Nationwide Flexaccount (current) and use BACS not chq.
It is operated as a internet savings account moving money in and out as required.

No problems so far!

Baldur

The HiSave savings account can be topped up as you like, fixed rate accounts are usually set up by transferring funds from the savings account. The minimum opening deposit is £1.00, from memory, you can then deposit or withdraw funds via Direct Debit/BACs to/from your linked account.

You can set up multiple fixed rate accounts, but cannot add to them during the fixed rate term.

Yes, you can manage your account(s) online, although the fixed term ones will only show the amount deposited until they reach maturity.

theAnarchist

Its a fixed rate account.

I need to open it with the initial deposit and then get my money into it.

What would the proccess be?

So I cant add any more to the fixed rate account.

Baldur

theAnarchist wrote: »

So I cant add any more to the fixed rate account.

As I posted above, "You can set up multiple fixed rate accounts, but cannot add to them during the fixed rate term."

I have four fixed rate accounts with them at the moment.

I've only transferred funds fom my HiSave savings accounts into fixed rates, so can't help on setting up just a fixed rate account.

wollix

i have recieved a notice that ICICI has closed its variable rate instant access account
does anyone know why? and what is going on?
thanks
wollix

KingL

Received notice from where? It is still showing on their website and it seems unlikely that they would withdraw such a fundamental part of their service portfolio. They have recently withdrawn their Fixed Term (with early Access Option) account. Are you thinking of that?

Baldur

The last notification that I received was, as KingL says, that with effect from December 24, 2008 the HiSAVE Fixed Rate Account - with early access, product had been withdrawn.

You appear to be confusing this with the HiSAVE Savings Account.