ICICI scare/warning

neilp

I have just withdrawn money from my ICICI account to deposit in an ISA at the start of the next tax year. So that I would not forget (it will be a hectic day), I did this as soon as I got up, and in my half awake state only realised at the last minute that I was actually setting up a £3,600 deposit from my linked account. Thankfully I didn't do this, and I think (hope) the withdrawal has gone through without any problems. However, if I had set up a £3,600 direct debit payment from my current account by mistake, it would have either bounced or been an unauthorised overdraft, with potential bank charges.

While this was entirely my own fault, and I currently feel relieved/slightly foolish, I thought I would share this with others as a warning. ICICI's interface is actually slightly confusing, and this would be an easy (and potentially very stressful) mistake to make if one wasn't concentrating!

eddyatkinson

Just before I read your post I had just transferred about thirty thousand out of my ICICI, then read your post.... the panick! I have never logged back onto ICICI so quickly! I'm doing the same, well, moving it for an ISA then the rest is going into Kaupthing Edge, which has great customer service, and better interest rates. Any ideas on the best ISA provider for 08/09?

10_66

Barclays Tax Haven is 6.50% AER, variable rate. B&B 12 month fixed rate is 6.25% AER. Neither permits transfers in from previous years' ISA's, they're both for new money only.

Exo

ICICI appear to take a battering on these forums for whatever reason.
I do not find their interface confusing.

Perhaps you should rename your post to something like:

"Don't do online banking whilst half asleep".