ICICI Applicants feedback required

MSE_Jenny

Martin has asked me to post this as a record of his conversation with ICICI. I think therefore we can currently assume that they are not planning to drop the rate.

“I asked Rohip, the product manager: ‘You are not planning to drop the 5.4% rate - you are going to suck in the base rate cut that’s already coming?’ He said ‘yes’.

I said: ‘You guarantee me, that in the current weeks you are not going to cut the rate to 5.15% for new customers?’ He said ‘yes’.

I said: ‘You do understand that my email goes out to 300,000 people, including virtually every personal finance journalist in the country, as well as my own programmes, which reach millions, and people will take this as gospel that you are not planning to cut the rate in any way?’ And he said ‘yes’.

HGLTsuperstar

Wow, spent last 2 days trying to do the online application but either went at snail's pace, or crashed mid-process. Just done it now in 3 minutes flat. Supposedly going to receive an email with details of next stage within 24 hours, will keep you posted

steve2578

Hi, I applied for a HI-SAVE Account on 30/06/2005 and the process was complete by 02/08/2005, my £1 deposit was plain to see when logging in.

I arranged my 1st DD deposit from my current account of £10.00 on 05/08/2005, this arrived on 09/08/2005. So far so good.

I arranged a 2nd DD deposit of £10 (ex-ING) for 15/08/2005, today £3,000.00 has appeared as a deduction from my current account and as a deposit at the HI-SAVE account.

Being in a state of blind panic I telephoned the ICICI helpline and spoke to an indian female operator and explained the problem, she took my details and said a bank official would ring within 48hrs. I mentioned the DD guarantee but seemed non-plussed as though it might have been my mistake. She also said the transaction had gone through and could not be altered.

I immediately telephoned my bank, fearful for unauthorised overdfaft or rejection of payment charges. They explained that although the £3,000.00
is presented it will not be taken for four days, I straight away asked them to cancel it.

Full marks to Alliance & Leicester they have not not charged me £10 for a rejected direct debit or £34 for an upaid item.

They also told me that my 1st DD had a code of 01 which means first payment, the 2nd had a code of 19 which means final payment, the DD then self cancelled. A new DD had set up this morning just before I spoke to A. & L.

I asked for safety for the new DD to be cancelled, I want to trust this bank but do not feel I can, I now have £11 trapped with them (glad it was not anymore)

Regards

steve2578

MarkyMarkD

Steve

Where did this £3000 transaction come from, then? Are you saying you never processed a £3000 transaction in any way, shape or form, and that they just made it up???

You don't have £11 trapped in any case; you can just send it back from the ICICI account to your bank account if you want to, surely?

steve2578

Hi MarkyMarkD,

The figure of £3,000.00 has appeared in place of the £10 I had arranged as my 2nd DD, at no point did I ever sanction such a large movement of money.

I find that their systems are too remote and inflexible to react to customers concerns.

I cannot move the remaining £11 back to my current account as you may remember I said that for safety the DD has been cancelled.

Most probably after reading other peoples experiances on this thread the way forward will be to ring the London number and verbally close the account.

steve

oldagetraveller

MarkyMarkD wrote:

You don't have £11 trapped in any case; you can just send it back from the ICICI account to your bank account if you want to, surely?

I wrote in an earlier post that, in my case, this was not possible. ANY transfer (even £1) i tried to make from Hisave to linked account was refused and accompanied by a message that the transfer limit had been exceeded????!!
When I was trying to close the account the person I spoke to (in India?) about the difficulties advised just to transfer the balance myself but when I explained that I couldn't he just said that someone would 'phone me - still waiting.

I sent an e-mail on 5 August explaining the problems with closing account and transfers from account. Also asked 4 specific "why" questions. I did receive a reply (decorate the street with flags?!) on the 18 August which conveyed apologies for the problems and my account was closed (yes I know it is)! No answers to my questions though.

The very helpful lady in London is called Manisha.

anticlaus105

anticlaus105 wrote:

Applied 25/06/05
Recieved e-mail requesting cheque 02/07/05
Cheque debited 07/07/05
Sent them an e-mail on 17/07/05 asking what was going on.
Recieved user ID etc on 19/07/05 and told password to follow within 6 working days.

They still have a day to go....lets see if it arrives tomorrow. Place your bets!

Edit 27/07/05 Post has been but nothing from ICICI. Glad I only sent a cheque for £1. :rolleyes:

Recieved following e-mail 09/08/05

Dear Mr. XXX,

Please accept our sincere apologies for the inconvinience caused to you due to this.

There was a technical problem at our end as a result of which there has been a delay in generating the passwords.

We have set a new password for you and you will be receiving the same within 5 working days.

Kindly confirm the receipt of your password.

Regards,

HiSAVE Team,

ICICI Bank UK Ltd.



Recieved following e-mail yesterday:

Dear Mr XXX,

We refer to your enquiry regarding the password for your Hi Save account.

We would like to inform you that we have a problem in setting up your net banking pin at the moment which is why it is taking a little longer to send you the password. We sincerely apologise for the delay and confirm that our technical team is working on this and will provide you with the password at the earliest.

However, if you have any transfers to be done, you can fax the request on 02072011048 or write to us at the UK branch address for the time being. We will then process your request accordingly.

Should you have any further queries, please email us at ukdirect@icicibank.com. Our Customer Support Team will be glad to assist you.

Regards,
HiSAVE Team,
ICICI Bank UK Ltd.



My only question now is do they send the password on soft quilted paper? That is the only way it will be any use to me!

MarkyMarkD

steve2578 wrote:

Hi MarkyMarkD,

The figure of £3,000.00 has appeared in place of the £10 I had arranged as my 2nd DD, at no point did I ever sanction such a large movement of money.

I find that their systems are too remote and inflexible to react to customers concerns.

I cannot move the remaining £11 back to my current account as you may remember I said that for safety the DD has been cancelled.

Most probably after reading other peoples experiances on this thread the way forward will be to ring the London number and verbally close the account.

steve

They don't transfer the money OUT by DD, they use BACS. Cancelling the DD doesn't affect the ability to withdraw money at all.

Jim_B_3

An update on my money transfer attempts:

The first transfer in was set for the 11th; the money is now visible in my ICICI account, dated 22nd, which is eight business days exactly. ICICI state that the first payment will take eight days, and subsequent ones fromthe same account three.

I have now set another transfer from that account, and one from the ICICI to that account, for the 22nd. In theory, the transfer in should be completed on or by the 25th. I'll let people know what happens.

Thus far my only complaints are the time involved to set the account up and get it running, and the fact that I was sent two different passwords by post on the same day.

seagles_2

Well as I hadn't heard from them for a while. Last contact e-mail saying will mail me in 2 days and that was 16th. Sent a chaser. Got e-mail back saying that as per FSA regulations they couldn't verify my identity and to send passport, driving licence, utility bill or bank statement, authorised as genuine by my banker or solicitor. What a load of bilge water.
I work in the industry and know that a standard credit search will give them more than enough information. I wouldn't mind providing some form of identity to open the account but to get it certified as authentic by my banker or solicitor costs money?
Anyone know a way round this request for me to go to my bnaker or solicitor?
If not will give up