ICICI status

oldwiring

Fully regulated under UK rules?
UK compensation rukes apply?
What are ratings of reference agencies?
How do ratings compare with well established and well trusted deposit taking institutions like major banks and buidling societies. e.g. HSBC, Nationwide?
Where is call centre?

The rates sem attractive, but I feel a little nervous that the rsisk may be raisedand so would like some answers to my questions.

Comments plese.

westernpromise

oldwiring wrote:

Fully regulated under UK rules?
UK compensation rukes apply?
What are ratings of reference agencies?
How do ratings compare with well established and well trusted deposit taking institutions like major banks and buidling societies. e.g. HSBC, Nationwide?
Where is call centre?

The rates sem attractive, but I feel a little nervous that the rsisk may be raisedand so would like some answers to my questions.

Comments plese.

No idea, but their utterly chaotic admin is reason enough to avoid them. A year after I opened an account, I am still unable to transfer funds except by sending paper letters through the post. Their online messaging is slow and the responses unresponsive.

They are the worst and most incompetent financial institution I have ever dealt with.

oldwiring

westernpromise wrote:

No idea, but their utterly chaotic admin is reason enough to avoid them. A year after I opened an account, I am still unable to transfer funds except by sending paper letters through the post. Their online messaging is slow and the responses unresponsive.

They are the worst and most incompetent financial institution I have ever dealt with.

Thanks for the testimonial. They are obviously a good:rolleyes: company:rotfl: and ripe if my experiences of admittedly a few years back are true, of a take over ny Inteligemt Finance

EagerLearner

I have been with ICICI for 3 months now and found them fantastic. Transfers to my bank account are made at the click of a button and arrive within 3-4 working days.

Interest is paid monthly and on time. The account took very little time to open. Any e-mails I have sent have been replied to within around 5 hours.

Please don't go on one negative opinion - Martin's highly comprehensive poll (see Savings section) has shown that whilst they had some teething problems last year, they are now the best place to store your savings to earn top dollar, if you have already maxed your ISA and regular saver accounts.

westernpromise

EagerLearner wrote:

I have been with ICICI for 3 months now and found them fantastic. Transfers to my bank account are made at the click of a button and arrive within 3-4 working days.

Interest is paid monthly and on time. The account took very little time to open. Any e-mails I have sent have been replied to within around 5 hours.

Please don't go on one negative opinion - Martin's highly comprehensive poll (see Savings section) has shown that whilst they had some teething problems last year, they are now the best place to store your savings to earn top dollar, if you have already maxed your ISA and regular saver accounts.

Equally, 99 experiences the other way shouldn't count for much - outfits with legendarily bad service, such as talktalk and NTL, probably manage to serve 99% of their customers effectively. The issue is that their 1% screwup rate may be 100 or 1,000 times worse than what other banks achieve.

There's a competence threshold ICICI failed to meet on launch and which in my case they continue not to meet. They still have not found a way to enable me to transfer money into the account. Out, yes. In, no. The only way to add funds is to send in a paper cheque, which takes around 6 weeks to be credited. Online transfers are impossible.

If an online bank can't arrange online money transfers, then I have to wonder what else they are quietly screwing up behind the scenes, where we don't all immediately notice - don't you? Credit status reporting? Data protection? ID theft prevention, anyone?

Martin's highly comprehensive poll doesn't take account of the possibility that the unhappy customers left and it's only the happy ones who are feeding back. If so, then yes, it would all look great.

I'm getting 4.75% a year elsewhere. This costs me £300 a year or so versus getting ICICI's rate, but it's money well spent since it spares me having to deal with ICICI.

ioscorpio

I recently opened an account, the paper cheque with my initial £1 deposit went through quickly and so did mt larger deposit by BACS

mrbadexample

I opened an account without any trouble at all and it runs very smoothly. I've had not so much as a hint of a problem, so it gets the thumbs up from me.

M_Thomson

westernpromise wrote:

They still have not found a way to enable me to transfer money into the account. Out, yes. In, no. The only way to add funds is to send in a paper cheque, which takes around 6 weeks to be credited. Online transfers are impossible.

Can you explain what you mean by this please? I manage to do transfers into ICICI all the time from my bank Smile.

masonic

Latest ICICI thread is here (unless they have launched a new current account I'm unaware of )

oldwiring

Yhanks for the input. However no one has attmpted to answer the specific questions that I raised in the OP

masonic

Well, OK then, here's a start...

"Fully regulated under UK rules?"
As far as being registered with and regulated by the FSA, yes. They have also applied for membership of the banking code, but haven't yet been accepted.

"UK compensation rukes apply?"
Yes.

"Where is call centre?"
Do you really need to ask ? I find it better to communicate with them via e-mail/messages through their website.