icici transfer query

mutley74

i am an existing account holder with Icici bank. i decided to transfer some more funds from my nominated bank acc more than a week ago. My Icici bank balance has been updated to show my requested transfer of funds but my current acc still shows the money still there. anyone else finding this?

i just checked my icici statement online now and it shows transfer as
109/08/2007RVSL FOR TRF ON 070807 -1232 xxxx
207/08/2007BY INST 111xxx : ECS DD OUTWARD CLEARING 1232-xxxx

anyone knwo what this means?

wombat42_2

atpug wrote: »

i am an existing account holder with Icici bank. i decided to transfer some more funds from my nominated bank acc more than a week ago. My Icici bank balance has been updated to show my requested transfer of funds but my current acc still shows the money still there. anyone else finding this?

i just checked my icici statement online now and it shows transfer as
109/08/2007RVSL FOR TRF ON 070807 -1232 xxxx
207/08/2007BY INST 111xxx : ECS DD OUTWARD CLEARING 1232-xxxx

anyone knwo what this means?

You will just have to wait about another day or two before it clears and enters your ICICI account. Apparently you are already getting interest on your deposit at this stage anyway.

Next time you can do it a lot quicker by doing the transfer from your current account by specifying ICICI sort code 30-00-81 and your own ICICI account code

Moggles_2

I persevered with HiSave for a long time because of its consistently high savings 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 or don't happen at all!

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

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

Thankfully, some of its competitors offer all this now - Icesave for instance - without the never-ending hassle!

wombat42_2

duplicate post

wombat42_2

Moggles wrote: »

I persevered with HiSave for a long time because of its consistently high savings 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 or don't happen at all!

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

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

Thankfully, some of its competitors offer all this now - Icesave for instance - without the never-ending hassle!

It is belived that ICICI start paying interest within about 3 days of a transfer anyway even if the transfer hasnt been cleared.

Surely doing a ICICI transfer using BACS isnt any worse than, say, ICESAVE as they all take 3 to 4 days.

mutley74

for some reason they credited my account with the transfer on the 7th aug but then debited the same amount back on the 9th aug. Its the 16th today more than a week now. I does not look like they will be transferring my funds to the ICICI account meaning my money has just been sitting in my current ac wasting interest. or should i be patient for another day?

wombat42_2

atpug wrote: »

for some reason they credited my account with the transfer on the 7th aug but then debited the same amount back on the 9th aug. Its the 16th today more than a week now. I does not look like they will be transferring my funds to the ICICI account meaning my money has just been sitting in my current ac wasting interest. or should i be patient for another day?

You should send them an email or phone them up if it is not sorted out in another day.

mutley74

wombat42 wrote: »

Next time you can do it a lot quicker by doing the transfer from your current account by specifying ICICI sort code 30-00-81 and your own ICICI account code

rang up icici and they say its a prob with my nominated bank account...they say its something wrong with the direct debit. rang up my main bank acc and they say nothing is set up with icici bank........huh????? i am confused big time.

Do ICICI bank accept payments if i set up from my main bank acc to my icici account? if not whats the best way to close my account with them before they make another mess up.....:mad:
thanks

wombat42_2

atpug wrote: »

rang up icici and they say its a prob with my nominated bank account...they say its something wrong with the direct debit. rang up my main bank acc and they say nothing is set up with icici bank........huh????? i am confused big time.

Do ICICI bank accept payments if i set up from my main bank acc to my icici account? if not whats the best way to close my account with them before they make another mess up.....:mad:
thanks

A direct debit is only essential for moving money out of ICICI to your nominated account. You can just do a BACS transfer without a direct debit to move money in.