help with icici

homehelp

am I ok sending all the info they want to start an account, as well as my bank sort codes etc. they are now asking for certified verification of who i am and where i live, is this normal? forgive me if this ia a naive question, but I am very new to this.

Pheasant76

I believe this is normal (think, like you, I was wary of this). When I sent it, I did it recorded delivery, so that I felt there was a little more security (probably not in reality, particularly as it goes to a PO BOX if I remember correctly). But it all worked out fine for me. Just be warned that it took them a little while to sort things for me, which can leave you thinking they've run off with all your details! I sent a second £1 cheque as the first took so long to clear; they promptly returned the second and opened the account for me, so no complaints.

lisyloo

It's normal for banks to ask for this sort of stuff.
This is because they are obliged by the government to conform to money laundering regulations.
It's meant to make it difficult for drug dealers, terrorists and bank robbers to launder their money.

Always send off something you don't need if possible.

Last time I sent off my paper driving licence.
I kept the photocard one and kept my passport.

Obviously don't sent off your passport close to a holiday, just in case stuff gets lost in the post.

Get a proof of posting at the very least (this is free you just ask for it at the post office).

Check them out before using ICESAVE.
I haven't followed it closely but I've seen anumber of problems, so do some research first.
I don't think ICICI bank service is great, but if you want to use a branch account then clearly there is a trade off on the rate.

CAROLEC_3

Al_Mac wrote: »

Isn't ICESAVE better customer service and better rate?

ICICI is 6.05%, Icesave 5.95%, don't know about customer service for either of them but Icesave appear to receive more favourable comments on this site.

lisyloo

I DO know that ICICI are impossible to get written statements from.
I needed these for claiming pension credit for parents.

They are an on-line savings bank only and do not provide paper statements.
I still don't know if this is going to be an issue for the benefits people but it might well be.

If you need written statements for any reason then bear this in mind.

Paul_Herring

Al_Mac wrote:

Isn't ICESAVE better customer service and better rate?

Just to rub it in...

Customer service: Unsure. Never had to deal with IceSave's CS. Never want to deal again with ICICI's CS.

Better rate: They differ by 0.1% (in ICICI's favour.) For the princely loss of 60p per £1000 saved per year, I'll avoid ICICI.

oldagetraveller

In my case it would seem that ICICI have not improved from when their HiSave account was first made available.
I opened an account soon after details were posted on MSE and closed it soon after because of their appalling CS and inefficiency. It even took them two weeks to close the damn account after numerous e-mails and 'phone calls???!!!!
Wishing to spread my savings, I've stupidly given them the benefit of the doubt, and tried again. My initial £1 deposit cheque debit appeared in my current account two weeks ago, so they definitely have the money. Heard nothing further from them since. At least it's only £1. Deja bloody vu!!

Oh yes, Icesave's CS are v. good, in fact, in comparison they are 5 star.