ICICI Bank HiSAVE 5.40% AER

muddyfox470

I sent a cheque to National Counties building society to open up a Guaranteed ISA (paying 5.5%) on monday, and by the end of the week i had received a letter to confirm that my account had been opened!

Beat that for efficiency (especially as i couldn't get through on the phones as it was sooooooooo busy!) - a lot of demand!

Ian

jimclark1967

oldagetraveller wrote:

So has anyone?

Yes - me!

Applied online on 31st May
Everything finally sorted on 1st July

The online banking seems pretty well thought out though the site is a bit on the slow side. Still, it's a great rate (while it lasts)

JC

oldagetraveller

Congratulations! :beer: :j Hopefully I'll join you sometime this month/year. Knowing my luck the rate will drop the day after I transfer some money? :rolleyes:
Just the one success so far then?

MarkyMarkD

The "apply now" page http://www.icicibank.co.uk/personal-banking/applynow.html states that the sort code and account number on the cheque used to open the account must match the sort code and account number the direct debit is set up against.

For Alliance & Leicester current accounts, the sort code and account number on the cheque books differs from the one used for DDs - I'm not sure whether this applies to any other banks, but it would appear to be a problem for A&L.

I will try opening an account anyway (as they aren't answering the phone on a Sunday - d'oh) but expect this to prove an annoyance if not a problem

oldagetraveller

Ah well, just received my account password, via Royal Mail? Anyway just for information, it arrived in a hand written, virtually undecipherable scrawl, incorrectly addressed (street name and postcode wrong). But they might be correct, the writing is THAT bad. However, the enclosed computer printed password advice IS showing wrong address. Impossible to determine when it was posted as the machine franking shows 18 VX 50 :rotfl:
So to continue in a negative vein - still not too impressed.
Now to try and access my account - watch this space!

Fastflys

Just contacted ICICI Customer Services to enquire if electronic CHAPS transfers can be made into and out from their Hi Save account.

I expected a simple Yes/No response. From the answer I received, it was obvious that they had never heard of CHAPS payments.

Not a confidence booster.

oldagetraveller

Accessed my account without problems and corrected home address! Something positive - the site is not half bad and quite easy to navigate. Submitted a transfer request for a small amount from "linked" account to make sure it works. The times quoted are similar to those of A/ Leicester - up to 8 working days for 1st and up to 3 for subsequent.
But I still think 5 weeks is a bit excessive to open and activate an account?

nellis10

I wonder if unble to hold client's money means they have no braches and hence the account is entirely online?

Whatcha think?

jimclark1967

nellis10 wrote:

I wonder if unble to hold client's money means they have no braches and hence the account is entirely online?

Whatcha think?

Client money is money held for insurance purposes

http://www.fsa.gov.uk/Pages/Doing/Info/MGI/FAQs/money.shtml#clientmoney

ICICI are authorised to accept deposits so no problem there.

JC

jimclark1967

oldagetraveller wrote:

Accessed my account without problems and corrected home address! Something positive - the site is not half bad and quite easy to navigate. Submitted a transfer request for a small amount from "linked" account to make sure it works. The times quoted are similar to those of A/ Leicester - up to 8 working days for 1st and up to 3 for subsequent.
But I still think 5 weeks is a bit excessive to open and activate an account?

My "test" transfer of £9 has now been completed - took 6 days. Strangely it hasn't left my current account yet despite having arrived at ICICI - must have moved faster than the speed of light or something :rolleyes:

JC