ICICI transfer

nrsql

Well good news - my transfer from icici on the 31st hit natwest today (3rd)as expected.
Not so good news. Two transfers to icici on 29th (Sunday) and 30th both went out of natwest yesterday - no sign of them in the icici account although the processed date is set to the transfer date.

stevemcol

Money seems to be arriving and leaving my account on time. The website is a bit dodgy at the moment but I'm guessing they'll realise that and either reverse the upgrade or upgrade again to fix the bugs.

I'm going to ride the storm for now. I suspect the less pressure we put on the system, the quicker they'll recover to their previously excellent service.

nrsql

Not sure the service was ever excellent.
More concerning is that when the online service has problems their customer service centre doesn't try to help and they don't action emailed requests.

>> I suspect the less pressure we put on the system, the quicker they'll recover to their previously excellent service.
Why persevere when it's not even a good rate any more.
It doesn't even seem as though they think they have a problem so I doubt if they are trying to fix anything.

DocProc

The Sort Code for ICICI HiSAVE starts with a '30'-xx-xx.

This signifies it is a 'Lloyds TSB' associate (because all their sort codes start with '30'-xx-xx too).

One benefit of this is that transfers 'in', when PUSHED from LloydsTSB and transfers 'out', when PUSHED from within ICICI HiSAVE end up as cleared funds within the target account within only TWO DAYS.

Compare this with IceSave, where funds can only be pushed and pulled from within the IceSave account into a Lloyds TSB current account, and it is taking me 4 days for the target account to receive cleared funds.

This is not at all good! In fact it is disgustingly bad!!!

nrsql

>> funds can only be pushed and pulled from within the IceSave account into a Lloyds TSB current account

i seem to be doing it happily to a natwest account.

stevemcol

nrsql

My 'perhaps misplaced' loyalty to ICICI is because until recently, it has been the best internet account I've ever had. Rapid tansfers (far quicker than the UK based account you are transferring from/to) and a nice, quick, at a glance web page.
I like the idea that a foriegn bank was treading on the big boy's toes and showing them how it should be done.
I wasn't aware the rate had dropped behind so I guess I'll do a bit more research.

nrsql

The rates not bad but is beaten by icesave.
Suspect it won't go up if the boe rate is increased next week.

If you are happy with it then that's fine. I wouldn't use it for money I might need to get at though. I tend to keep a lump with natwest I can get at instantly (can call the bank manager if necessary) and distribute between a couple of higher rate accounts. I use egg as an intermediate/reliable account, have moved from icici to icesave but will see what happens next week.

masonic

nrsql wrote:

Suspect it won't go up if the boe rate is increased next week.

It has to go up to at least 5.25% because of their rate guarantee.

[Deleted User]

masonic wrote:

It has to go up to at least 5.25% because of their rate guarantee.

Only if the Base Rate is increased to 5.00% or more.

As per their FAQ No 41

'We guarantee that the gross interest rate will be at least 0.25% above the Bank of England Base Rate, until 31st December 2007. During this guarantee period we promise to implement any applicable increase in our rates within thirty business days of an increase in the Bank of England Base Rate.'

i.e strictly speaking they would be within their rights to pay 5% atm, with a base rate of 4.75%, rather than the current 5.15% gross aer.

betheebee

Have had enough of being fobbed off, am trying to withdraw money from ICICI, been tryinghfor 2 weeks now. Have phoned 10 times, each time I am told that I do have a linked account with my current account at Lloyds but when i try to withdraw it says "No linked account found"
Pulling my hair out!!!!!!!!!! We fly to Egypt on Thursday and can't get my money to take on holiday.
DO NOT EVER CONFUSE THIS COMPANY WITH BANKERS. Title sais it all.