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Heeelp!!! Icici have switched my account without telling me

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Comments

  • tingly
    tingly Posts: 236
    Part of the Furniture Combo Breaker
    Forumite
    Thanks TCA

    Youve made me feel a bit better
    Have had a horrible 12 months with one thing and another- had to stop work to look after my lovely mum so i was relying on this money.
    Still- i guess- no i know- there are worst things

    Was just a bit shocked that they didnt mention it- espec when they transferred the last interest into my nominated account- just thought they might .
  • tingly
    tingly Posts: 236
    Part of the Furniture Combo Breaker
    Forumite
    edited 10 November 2014 at 9:05PM
    Ps - just found this
    Financial Services Authority rules state: "Where a preferential rate of interest applies until the end of a fixed period, a firm should, where appropriate, provide notice of the expiry of the application of that rate of interest within a reasonable period before that rate of interest ceases to apply."

    An Ombudsman statement also says: "Businesses are required to notify customers that their investment is about to mature. It is reasonable to expect this notification in writing at least one month prior to maturity."
  • badger09
    badger09 Posts: 11,877
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    I have held several of these accounts in the past, when rates were attractive.

    ICICI always telephoned me prior to the maturity date, around 6 weeks IIRC to try to persuade me to reinvest.

    OP, I think you might find it difficult to prove that ICICI didn't try to contact you.

    Have you now arranged to withdraw your money?
This discussion has been closed.
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