ICICI - cannot open Single account if bank account is in joint names

Victors_Bruvver

My opening cheque was returned by ICICI and initialy I thought it was becasue of the joint account it was being drawn on. However, I spoke to a lady in Mumbai who I thought was telling me that the cheque should have sigantures of both account holders. Reading through the welcome email that I originaly received from ICICI, it has an illustration of just that; both signatures. I now have done that and posted it off yesterday. I will await to see what happens but now nervous of placing my savings with an overseas bank that although protected by the financial ombudsman(?) could take years if they collapse in gettin my money back. Perhaps West Brom is the place for me.

Cozworth806

ICICI is protected by the FSA. Unless your joint account requires both sigs then I reckon they are talking BS. Again my wife just had her sig on it and it went through fine.

Griffboy

dannahaz wrote: »

I've just tried to open an ICICI HiSave account in my sole name. I applied on line, and then sent a cheque for the initial deposit as requested. They have refused my cheque because it came from a joint bank account, and have told me that I must either send them a cheque from a sole bank account, or change the HISave application to be a joint one.

I don't understand why they have this requirement, I haven't heard of it before! I've asked them for more information, but I don't hold out any hope.

Just thought I'd post this in case anyone else is thinking of opening an account with them,.

They did the same to me because my cheque was from a business account. I just opened an Icesave account instead.

classic_mini

If you open a single account with a joint account cheque, your application will almost certainly be rejected... UNLESS this cheque is signed by both of the account holders!!!

If both holders sign the cheque, and the cheque account details match those of the linked account, the account should open without any problems!