NEW ICICI Feedback Poll - Are the problems all cleared up?

msraec

Opened first time early on and never did get around to finishing it because of the ID - nothing dodgy, I just never managed to get along to a solicitor to pay £7 for a stranger to verify my identity - something ICICI insisted on to finish opening my account (not just lazy, i wasnt in a rush to part with the money either!)

Still fancying the interest rate i tried again online a few months ago out of curiosity and this time it opened really smoothly - everything they said they'd do and send they did and sent in super quick time, no ID was requested this time and i transferred £1 with no problem

I'm waiting til the ING bonus interest pays out in early august (paying 6% til 2 aug as seen on this site! thanks Martin) then plan to shift the money over to ICICI...the account is set up with all my accounts on First Direct Internet Banking Plus so dont foresee any probs moving it over but will prob try with a few hundred first just to be sure it doesnt get lost in cyberspace!

So...so far so good (this time round - I didnt try using any of the details from my original attempt, just tried afresh)

Anyone who had problems initially with getting ID sorted i'd recommend trying again by just clicking the links and starting a new account with ICICI, worked for me

murphydavid

The poll looks good but reading the above comments still leads me to the conclusion that I won’t touch them till they achieve membership of the banking code. I know how long they have been saying they have been trying to get it. So why can’t they?
Is there anything to compare this thread with? If we did a poll on one of their competitors who are in the banking code would we get the same number of negative comments or not? Can’t see many really positive posts. Maybe in my mind I put more weight on the negative or maybe there is a trend that those unlucky enough to have had problems are more likely to post?
Personally as far as savings accounts go ICICI is the only one I have joined and withdrawn from for poor service reasons and I am always joining new ones in pursuit of better interest.
I tried to open an account in the early days. Got as far as sending a £10.00 cheque. Problems with the password and my cheque not being cleared through made me tell my bank the cheque had been lost and they cancelled it. I remember thinking “thank goodness it was only £10.00". Hence I kept my £10.00. About two months later I got a password (for a non existent account). On the anniversary I was sent a statement that said my £10.00 had earned interest in ICICI? Now if they are paying interest on non-existent money I wish it had been more than £10.00. But seriously, I did remind them that they never got the £10.00 but no response. So as far as I am concerned their incompetence continues.

exel1966

Opened an account at the end of June prior to the A&L rate dropping. Took two and half to three weeks to get it up and running and with password. Have made 6 transfers into the account so far all taking between 2-3 days from outside accounts. Have needed to contact the FREE helpline twice to clarify a couple of points and they were dealt with very smoothly and sufficiently, so all in all a good move.

rkuk

hmmm - I've been thinking about openign one of these accounts the past couple of days. Obviously for the simple reason of the high interest rate, though the amout of problems I have read does worry me. I had planned to shift a substantial amount of money from a poxy current account into the ICICI one and then trickle the money out into a regular savings account. The fact that it's a lot of money (well to me it is) does worry me, in case things do mess up.

Also,

juliamarsh wrote:

it's a pain that you can only transfer money to and from one external account. T

Having read this little bit by Julia (thanks) does this mean I won't be able to do this process of trickling into a regular saver, as the initial money will be coming from my current a/c, i.e:

Current a/c >>> ICICI (or other instant access a/c) >>> Regular Saver =

Cheers

MarkyD_2

Opened account with ICICI in March this year and so far so good :beer: !!!! Only one slight hitch when, just after registering I received the same initial registration e-mail. This was quickly resolved after sending them an e-mail advising them of the mistake.

Optimist

Opened account last month, the only problem I encountered was that it was difficult to read the password they sent, otherwise everything worked great and it continues to work with no problems.

DocProc

I've got an account. Wifey's got an account. And we both have a joint HiSAVE account too, making three HiSAVEs all together.

No problems worth remembering so far. Some of the Indian CS staff we have spoken too have been really, really, helpful and an utter credit to the bank.

Everything opened on time, no password problems.

All transfers seem to work OK. After opening them as instructed with the personal cheques, we have preferred to visit the linked current account branch, use a CHAPS transfer, and push funds into our HiSAVE accounts.

To take money out of the HiSAVE account, well, we do that online on the HiSAVE web site and again do a 'push'.

I can't say that we have yet tried to pull money into the HiSAVE from the linked current account from the HiSAVE online site. Our experience in doing this, when with INGDirect, was that 'pulling' took too long.

We like ICICI. Periodically, I go to

http://www.myiris.com/shares/company/chartShow.php?cSelect=2&icode=ICICIBCO

and have a bit of a read on 'News' and also check their share price, which seems to be steady after the recent worldwide falls and now possibly, as I write, about to rise.

ICICI Bank do seem to be a respected and admired bank. We've noted how on the one hand they were very quick to fire some of their own errant traders for breaching guide-lines during one period last year and lately, how they might be about to lend Kingfisher Airlines $150-200m. This last deal is not the norm for them as they have a name and reputation for lending money to mostly small time businesses in India. They have also been assigned several 'Triple A Credit Ratings'.

Hope that helps.

sue.b_2

I had no problems opening my account, in fact, it was very fast. Then I tried to move a large sum from my linked account into the new account via the ICICI web site. After checking daily and seeing that the request had been actioned and then completed I was surprised to find that my money had not moved. I emailed ICICI and, eventually, got a reply that said they had no trace of my request. Mysteriously the record of on the site had disappeared the day before I received the email. Now I initiate transfers through the linked account.

juliamarsh

TO reply to rkuk, you will have to pull your regular saver contribution out of ICICI every month into your linked current account, and then send it from there into your regular saver account. Rather a palaver having the extra 'layer' but you may be able to set up a regular monthly payment from ICICI so you don't have to think about it. I haven't looked into this but this is what I do with the Lloyds regular saver as they insist the money comes out of a Lloyds current account, so I had to set one up just for the purpose of transferring the regular saver money across from my main bank account.

rkuk wrote:

hmmm - I've been thinking about openign one of these accounts the past couple of days. Obviously for the simple reason of the high interest rate, though the amout of problems I have read does worry me. I had planned to shift a substantial amount of money from a poxy current account into the ICICI one and then trickle the money out into a regular savings account. The fact that it's a lot of money (well to me it is) does worry me, in case things do mess up.

Also,



Having read this little bit by Julia (thanks) does this mean I won't be able to do this process of trickling into a regular saver, as the initial money will be coming from my current a/c, i.e:

Current a/c >>> ICICI (or other instant access a/c) >>> Regular Saver =

Cheers

SirSaveALot_2

Hi

Thanks everyone for the info in this and previous threads.

I'm also looking for a new savings account for when ING's bonus 6% rate ends early in August.

I am still in two minds about ICICI. I almost applied last week but was put off when they wanted employer information in the application (I just can't see why they need it for a saving account). But some people on the previous thread said they're not the only savings account provider who ask for it. So I guess I'll give them the benefit of the doubt.

There are still a lot of problems being reported, so I think I'll treat it as a notice account (assume that there'll be some delays in taking money out).

As long as no-one's permanently lost money!! :eek:

Cheers
JS