ICICI Bank

alihen

I wasn't asked for any sort of ID when I set my account up in November, although it has taken me until today to finally log on!
I just wondered if anyone else had been told you had to put at least £250 into the account to earn any interest because they won't calculate any interest unless it is over the value of £1? Thought you could earn interest on every penny and now a bit confused....

margaretclare

Hi

I've recently opened mine. It wasn't immediately obvious that it's a bank from India, but it has a legit operation in the UK and is regulated by the FSA.

Was a bit disappointed that, after opening my cahoot bonus saver account (I've been with cahoot a few years now) they lowered their interest rate. Because of 'stoozing', the idea is to maximise interest, so their rate of 5.15% is welcome. They pay interest at the end of the 'second' month.

Margaret Clare

DocProc

zaccy wrote:

There is one MAJOR fault that I have found however and that is their internet security. Using Firefox or Opera I can log on and service my account without one security check..This is a MASSIVE SECURITY ERROR. .

Can you please explain what you mean here in a little bit more detail? I ask this because using IE6 I do feel I can also "log on and service my account without one security check."

zaccy wrote:

No point in calling India as they do not have the culture to realise and pass on customer concerns as it is all about "saving Face" when criticised.

I agree with this comment more or less 95%. Very rarely does one get an Indian CS representative who uses objective reality to handle responsibilities, task requirements and decisions.

tomstickland

I've used them for about 6 months now and have had a good experience. I'm 100% online banking anyway, and there's is a totally transparent account paying 5.whatever %. Good one I think.

DocProc

zaccy wrote:

I've just been looking at my account using opera. All I had to do was click Login, then click the wand tool and I was into the account. This means anyone who gains access to this computer can get straight to my ICICI account. All my other on line accounts take me through one or more other identification process first. Yes I could delete my passwords from the browser but I have so may different online accounts nowadays I can not rember all the different user names and passwords. I could always write them down on paper but that is hardly secure too. All ICICI have to do is incorporate at least one other extra securiuty check in the log in process.

Zaccy:

Check out the following thread on this Forum. It is about Password/Username storage software, the writing down of ICICI HiSAVE passwords and the use of Egg Money Manager.

Doing any of these might well invalidate any refund from ICICI if your hiSAVE Account is compromised and also most probably any FSA protection you might seek:-

http://forums.moneysavingexpert.com/showthread.html?t=189796