ICICI bank and linked account

tunner53

set up ICICI bank no problems at all, but and its a big but...... every time I request money from my linked account it gets credited to ICICI but does not leave the linked account. Then about 5 days or so later it shows being returned on the ICIC statement. I've emailed the account manager numerous times but they just tell me its been credited but give no answer reference the returning. Any body had this prob and what do I do about it, I'm really close to ditching this account. Cheers

anticlaus105

Use BACS to pay the money in instead. Do not use the ICICI direct debit system to transfer in. It is a complete shambles.

Make sure your linked account is set up properly by doing a small transfer out (£1) first tho.

I have never had any problems transfering out. I always use BACS to pay in tho.

codetown

how do you take the money out of icici?
bacs works only one way from your bank into icici. what about the other way round?

Paul_Herring

Send it from ICICI to your bank. I've done this quite a few times and have had no problems with it.

gingercordial

Didn't see this before requesting my first payment into ICICI by direct debit, which is taking forever! So you mean I can just send money to ICICI as a payment from my current account, rather than bothering with the DD?

Does that work from any account or just your linked account? Would be great if I could send my cahoot money straight through rather than routing it via the linked current account. If so, ICICI's T&Cs don't exactly make it clear that you can do that, do they?

teksat2k

Eagerly awaiting reply to gingercordial as I'm in exactly the same position.
I'd read it as being transfers having to be to/from linked account and was about to transfer via A&L current account - would be great to be told different.
After applying for ICICI about a year ago, never got around to sending my original £1 deposit (bad initial reports about ICICI and higher rates with Cahoot). Initial deposit amount sent by cheque to ICICI received response advising that account was now open, within just a few days - just waiting for password to arrive in post and then at least £35k of what's now becoming a substanstial stooz pot will be leaving Cahoot.

lisyloo

So you mean I can just send money to ICICI as a payment from my current account, rather than bothering with the DD?

You can pay money into MOST accounts from your current account providing you have a sort code and account number (for credit cards you usually use the card number as the reference.
Most accounts accepts BACS these days.

Would be great if I could send my cahoot money straight through rather than routing it via the linked current account.

Go to "withdrawals" and then
"Make a one-off withdrawal"

If so, ICICI's T&Cs don't exactly make it clear that you can do that, do they?

To be fair it isn't their job to tell you how to operate your current account or Cahoot account.
They probably have their own reasons for telling you to do it "their way" although I can't think what that would be.

gingercordial

lisyloo wrote:

To be fair it isn't their job to tell you how to operate your current account or Cahoot account.

True, I just read the T&Cs as being that you had to do it by their DD function. Good to know that's not the case, thanks! Money now on its way directly from Cahoot, fingers crossed it gets there.

ricer

no prob transferring from my current acc to icici.
havent transferred any back yet.
hope not to have any probs.

ricer

what is bacs

Paul_Herring

ricer wrote:

what is bacs

http://en.wikipedia.org/wiki/BACS