ICICI problems

kalinka

Hi - was just about to open a savings account with ICICI today and then read all your comments. Glad I didn't! Thanks

wombat42_2

I have had an ICICI account for over a year. No real probs and they have answered my emails quickly. 2 recent ones were replied to in 24 hours or so. You can speed up the time it takes to receve money into the ICICI account by specifying sort code 30-00-81 and your account code in your sending account.

Paul_Herring

I ditched ICICI in favour of IceSave when the latter opened - I had a few problems with ICICI (documented elsewhere on this forum) - but basically, of all the problems listed on this thread, none particularly surprise me.

It even took me ages to finally close the account :rolleyes:

vijayrana

sparkyspice wrote: »

does anyone have any experience of ICICI savings?

i tried to log on today, couldnt and now cant even email them about it because i dont know my a/c no. I realise I have no paper work from them at all so no record of my account no.
I'm beginning to feel a bit anxious!!
any ideas??

You have every reason to feel anxious, there communication in pretty much non existent. I opened my account 15 months ago and only ever received the activation PIN for online banking throught the post. Everything else has been through email. Its funny how they ask you unnecessarily obtrusive questions about salary etc. and want to know so much about you but offer their customers next to nothing in terms of paperwork.

Coming from an Indian family myself, I have been aware of them for a while now so (foolishly) I opened an account without hesitating. While their rate for the hisave account is a table topper, their customer service is as BAD as everyone says it is. I tried to ask for a tax deduction certificate continuously over the course of more than TWO MONTHS via email and phone. Each time I was told that it was 'technical issues' and that a certificate is 'on its way now'. I finally received it after seven emails and several phone calls. I has to quote income tax legislation and threaten to close my account to get them to post the certificate.

After I sent a detailed a letter of complaint, I got back a three line email stating that they 'had technical issues' and 'we will take it as a lesson'. What kind of a response is that? Not even a letter in the post!

Take my advise, avoid ICICI bank like your life depended on it.... or at least your sanity!

Stavros_3

Vijay, good post and reasoning why to avoid. I much prefer to have my dosh in a safe UK account that answers my calls and e-mails, Sainsbury's you have my cash for now but heed the lessons

EuanArnott

I have just asked ICICI to close my (recently opened) account.

The website performance was dire today, with frequent loss of contact with their server, so it took me 30min to make one simple transfer, then another 30min to send the email to close the account. My other online banks are all working fine, so it really was the ICICI site that was in trouble. This is just too inconvenient and worrying to bother with, so I will wave goodbye to their high interest rate for the sake of my blood-pressure.

To be fair, however, in the short time I have had the account they rapidly acknowledged my two emails (one concerning the slightly slow arrival of my initial £10). And while the set-up paperwork they sent me was disconcerting thin in comparison to most banks' glossy brochures, that is not really a problem for me (almost refreshing...). But inability to operate an online account on-line is a bit of a killer blow...

Dr_Johnson

Why do people still bother using ICICI bank???

They really were an appalling bank when I tried to run a HighSave account with them.

No reply to e-mails. Confusing use of English when they did reply.

My time, telephone charges and postage was wasted trying to communicate with them about managing my money. The headache trying to obtain sense from them just is not worth the tiny extra % interest on even large sums saved.

Very disappointed - I recommend getting out quick and using Nationwide or IceSave who offer decent rates and decent service. Abysmal

Moggles_2

When a new savings account is launched with a market-leading interest rate, the response can be overwhelming. If the provider is flooded with applications, teething problems and delays are apt to occur and the quality of service may leave something to be desired. As time goes by, the glitches are resolved, demand levels off and things should start to run smoothly. Sadly, after two years in the UK Savings market, ICICI still hasn't got its act together

I persevered with HiSave for a long time because it paid consistently high interest rates.

Unfortunately, transfers by direct debit from my linked a/c which, according to ICICI, should be made in 3-4 working days, have always taken 8 working days, if they happened at all!

Pushing money in with a BACS transfer from your linked account takes 4 days IME, but if your linked a/c is a high interest current a/c, you may feel the consequent loss of interest rather defeats the object. Some MSEs have reported delays withdrawing money as well!

This is a pity because HiSave is a clean, no-tricks a/c, paying a table-topping interest rate and ICICI have always raised rates promptly in response to BoE base rate changes.

Thankfully, Icesave offers all this now, without the never-ending headaches!

silverbullit

I too would not recommend opening a savings account with ICICI. I was unfortunate enough to be tempted by their headline rate back in May and opened an account with £25. After failing to get any response whatsoever to the numerous emails i sent to them making some basic enquiries, i decided to close the account. However, the email i sent requesting the closure of my account has also been repeatedly ignored. So, after three months, as far as i am aware they still haven't closed my account and they still have their dirty mits on my £25! I'm so glad i didn't put any more into the account before i found out that you get no responses from them whatsoever. I considered getting on the phone to them, but on their website the phone numbers they give are all in India!

I've put it down to experience and cut my (£25) losses!

Stay away from them is my advice; in my opinion, Icesave is infinitely more preferrable.

gt94sss2

silverbullit wrote: »

I considered getting on the phone to them, but on their website the phone numbers they give are all in India!

That means you are looking at one of their Indian websites and not the one for ICICI in the UK.

This is their UK website and here is the 'contact us' page which includes a UK freephone number..

Regards
Sunil