ICICI transfer

tomstickland

brranger wrote:

Prehaps they are just unwilling to let you all move your funds to icesave at the same time. as I'm sure if all the people i borrowed off came to me I could'nt just find the money like that.

Nah, the whole idea of an instant access savings account is that all the savers can withdraw all of their money at any time.

jelly4cats

Just gone online again & had another go. Glad to say that this time the transfer was successful, I was getting quite concerned. It's no use having good interest rates if you can't access your own money.

Paul_Herring

Hmm - well up until this weekend's little farce I was quite happy with ICICI. I think I'll be moving my money over to Landisbanki and try my luck with them...

dazinoz27

Check if you have an ICICI account that they haven't debited your last transfer from your linked account twice! They have me which has now put my bank account passed my overdradft limit! They said it will take two days to go back in. The said on the phone the will cover any charges by my bank and a letter will come out to me. They better had or they'll be hell to pay!:mad:

Paul_Herring

dazinoz27 wrote:

Check if you have an ICICI account that they haven't debited your last transfer from your linked account twice! They have me which has now put my bank account passed my overdradft limit! They said it will take two days to go back in. The said on the phone the will cover any charges by my bank and a letter will come out to me. They better had or they'll be hell to pay!:mad:

It may be worth your while quoting the DD guarantee to your bank and letting them know that you only authorised one withdrawl instead of 2. They may be willing to pre-emptively discard any charges/interest due to it (and maybe even getting your bank itself to refund the 2nd withdrawl,) instead of allowing you to go through the hassle of arguing about it after the fact.

nrsql

I suspect this is the case for a lot of people but:
All they had to do was respond to my emails and I would have been happy.
They could have given a realistic time when the site woud be working - preferably posted on the site and updated and that would have kept a lot of customers.

Telling me to send an email to the account manager then ignoring it and leaving the site to error rather than give a warning is probably the worst thing a company can do if they want to retain a customer base.
That combined with not being able to get through to the call centre today leaves me thinking this isn't a very professional company - a shame because I was quite happy and willing to put up with a lot until this fiasco.

My guess is that they are scaling down the operation in the UK which is why they aren't too concerned. If that's the case then it should be a worry for anyone leaving funds with them.

Hugeass304

I am also having trouble with this lot. I have had two transfers of £20 credited to my account but three lots of £20 have been withdrawn from my linked account. It was all working fine for me since last october with no problems in or out. It's all gone tits up since their software upgrade at the start of the month. I am also awaiting an email reply

arleyb

dazinoz27 wrote:

Check if you have an ICICI account that they haven't debited your last transfer from your linked account twice! They have me which has now put my bank account passed my overdradft limit! They said it will take two days to go back in. The said on the phone the will cover any charges by my bank and a letter will come out to me. They better had or they'll be hell to pay!:mad:

Hi
Copy of an Email I sent to ICICI Account Manager today:

---

You have taken two direct debits of £5000.00 from my linked account when I only requested one. I only discovered this because I was refused withdrawal from an ATM. This involved me in transferring money on an urgent basis to clear the negative balance which was of considerable inconvenience to me.
You have corrected this since this morning by transferring £5000.00 from my cleared balance which has reduced my cleared balance from £7843.32 to £2843.32.
In view of this complete incompetence I am extremely worried about your ability to handle my finances especially when you have access to my linked account by Direct Debit.
The very least I would have expected was an Email informing me that there had been a problem.
Therefore will you please transfer £7000.00 to my linked account as soon as possible.

Thankyou

---

I figure that there is more chance of getting a withdrawal than an account closure ?????

Update on 11th:
To add insult to injury have just found that my current account bank has charged me £25 fee for the returned Direct Debit
Just had a call from ICICI to say that there had been a technical fault and asking if I wanted the money that had been taken in error returned. I almost said YES. The person who phoned did not have any details of my account and did not have any idea of what cleared balance meant. HEADLESS CHICKENS come to mind

[Deleted User]

FWIW You have my sympathy. That is outrageous, and worryingly not the only example. :mad:

145dude

ICICI are appalling. As we all know, the site was missing functionality all weekend to initiate transfers. Well, I needed access to my money and the website would not enable me to create a transfer. I contacted the Customer Services team and they could not provide a timescale merely a suggestion to either e-mail the Account Manager or send a fax(?!). I asked when my e-mail request would be actioned and I was told it "should be" within 24 or 48 working hours, then a further 3, 4 or 5 working days for the transfer to complete. Well, I was not happy about this shoddy approach. As it was, I needed the money to purchase a car and with the timescales I had been given, it was likely I would have to wait until the following week until I got the money, which was of no use to me (I had already paid a deposit).

So, I requested a CHAPS transfer on Sunday, again, I had to e-mail the Account Manager and I was told that if I selected the incorrect heading my request would be ignored (thanks). As I felt so uncomfortable about a) the unavailability of the website functionality for an undetermined length of time and b) the lack of any timescales or sense of urgency, I requested that the full amount of my savings (£20k) be transferred by CHAPS to my linked account. I was assured that because it was a CHAPS transfer, it would be processed Monday and in my linked account by the end of the day.

Well, guess what happened! Yup! No money in my linked account, yet the money had left my ICICI account. Contacted linked account peeps, nope, money not coming nor can see it coming. Return to ICICI, whereby a Supervisor assures me the money is sent and it must be in my linked account (even though I told him it was not there). I am told it should be there first thing this morning, then midday, then this afternoon, then this evening ... I ask him to initiate a trace, I am advised he cannot do this because they're all on a tea break ... He assures me he will call me back, he does not, so I spent all this afternoon chasing ICICI and getting zero information back. They were unwilling to phone the CHAPS team to investigate, all they would do is lodge a complaint on my behalf, timescale to resolve? 24 to 48 working hours. Well, I was most displeased to say the least. After several heated discussions and after their point blank refusal to even telephone the CHAPS team, give me a phone number, or escalate my matter to someone else apart from a Supervisor "oh the manager is not in and even if he was he doesn't take calls" . Great, thanks again!

At 16:00 today I was at the end of my tether. 20k had seemingly gone missing and ICICI were totally incompentent at investigating the matter. Whilst arguing with a Supervisor again (he refusing to do anything but lodge a complaint email and refusing point blank to call the CHAPS team) the money suddenly dropped into my linked account. Now, all they had to do was trace the transfer in the first place and all the hassles I experienced would have been lessened.

I am extremely relieved that I no longer have any money in my ICICI account and I would implore everybody to withdraw their money ASAP. In my opinion, the slighter higher interest rate carries an extremely high risk and I would not let these guys anywhere near your money! AVOID AVOID AVOID.