HiSAVE Savings Account

DocProc

Well, a password problem last week and now another problem this week.

This time it's deadly serious.

On the 28th May at around 9:30am I went online to my HiSave account and did a Receive transaction in the sum of £7k to be received into my HiSave from my linked account with Lloyds TSB. It was a One time transaction and I have a screen shot to prove it.

Yesterday I accessed the HiSave account again.

Aargh! There are now TWO £7k Receive transactions on the go, totalling £14k and shown as £14k Funds in Clearing.

Well this would take me into the land of illegal overdraft with Lloyds TSB and I do not want to go there, for obvious reasons of penalty charges, perfect banking record now made bad and so on.

So, what could I do about it?

1. At about 6pm or so last night: Write a memo to the HiSave Account manager asking him to cancel the second transaction -DONE. As at 9:30am this morning still no reply from him. And no change to the information showing on the HiSave account.

2. Also at about 6pm last night: Ring the HiSave Indian Call centre for their Customer Services and explain the problem, requesting a stop on the second transaction - DONE. It was explained to me that it would probably be at least 48 hrs to get a result doing this and the letter to the Accounts Manager would have a faster response.

3. At about 6:30pm last night: Telephone Lloyds TSB and put a stop on the second transaction. They didn't have any information as yet, on either of the two £7k transfer transactions. The best they could do was to ask me some questions with a view to a temporary overdraft to cover the extra £7,000 debit requirement for this, the HiSave's linked account. They agreed to this, which was a great help. However, if I use the overdraft, then it will incur Interest charges at 1.3% per month.

Well, as you can see, I've done all of that and I still haven't satisfactorily managed to be able to stop the second £7k transaction.

I will telephone my local branch of Lloyds TSB later this morning and speak to them with a view to them keeping an eye out and stopping the second duplicated transaction. I will also check the HiSave account to see if I get a reply from the Account Manager.

I'll let you know the outcome.

I also want to know why the transaction duplicated, in the first place! I'm sure nobody wants their One-Time transactions duplicating and just firing off once again willy nilly, whether they be Debits or Credits. It's just absolutely ridiculous!!!

I have lots of Screen shots on all of this stuff.

aleph_0

Hmm, you could possible cancel the direct debit (via. your bank) if you don't mind not transferring the £7k for a while?

Stompa

The ICICI website is the worst example of a banking site I've ever seen.

DocProc

aleph_o

Hmm, you could possible cancel the direct debit (via. your bank) if you don't mind not transferring the £7k for a while?

Well, my wife rang our branch of Lloyds TSB and tried to get them to stop the second £7k transfer. They didn't seem to know how the transfer was going to be effected and said "No Direct Debit facility seems to have been set up so there isn't anything really we can do. We think you are best cancelling the transaction through ICICI Bank (UK)."

So that was pretty strange we thought. ie, There not being a DD set up. I'm not sure what they actually meant by this. We opened the account with HiSave in the normal way and it has been running for ages. And we have effected transfers to the HiSave account several times previously, both to and fro.

I accessed the HiSave account just before lunch and there is a

'RVSL FOR TRF ON 300508' for £7k in the Debit column. This is the latest transaction.

So we have that Debit and also two 'BY INST 9****: ECS DD OUTWARD CLEARING' each at £7k in the Credit column, being one for 30/05/08 and also one for 02/06/08.

However, there is no message for me from the Accounts Manager yet.

Hopefully, one £7k transfer will take place as we wanted and one has been cancelled. However, I am still not sure that the transfer will take place because of the negative comment from Lloyds TSB about there not being a Direct Debit set up. This is really strange, I think!

I'll wait to see what happens.

This is all not really very satisfactory. It being an Indian bank with the Account Management obviously being done by Indian personel, whether in India or in the UK, the communication is inadequate to be able to deal with the problems.

Psychologically too, I am in fear of their cultural 'saving face at all costs' problem, which I fear doesn't allow them to be objective and 100% truthful to a customer, when something does go wrong.

I am also completely dissatisfied with the crumby HiSave Account web site graphics. Half the time they are not properly visible. However, one can still see vacant boxes where buttons should be and I know from memory, which boxes do what. Particularly the 'Log Out' and 'Communication' buttons. Although you cannot see them, they still appear to work.

This last comment, I find quite so ridiculous it is absolutely hilarious. Struth!

I cannot believe I actually bank with them!

I suppose it's OK until you get a problem. Then ICICI Bank (UK) Ltd HiSave is quite definitely NOT OK AT ALL!!!

marshall2k

It's a shame that you are having problems Doc and I hope it will be OK. I prefer pushing to ICICI by BACS rather than pulling by DD.

DocProc

Just logged in again.

No message from the Account Manager.
The £7k still hasn't transferred, which is now pertinent to the second transfer done by them on 2nd June, and is still in the Lloyds TSB account It is showing as 'Uncleared Funds' in HiSave.

I conclude that at present they don't really have a sound Direct Debit set up to my linked account. It doesn't seem to work and so I reckon they might just have done it for a second time, but for this time, with their fingers crossed.

natman

I really like ICICI. I have had no problems at all, i know some people have, and in fact i just accept that everyone at some stage have problems with banks. I have a HISAVE accout paying 6.16% and two Term accounts paying 7%

Easy to set up, get paid monthly intrest for HISAVE account so can see money grow each month.

Yeah a big thumbs up from me.

DocProc

By e-mail to my e-mail address:

Dear Mr. XXXXXXX,

We are unable to receive money from your linked account as your direct debit is inactive. To keep your direct debit active you must use it to transfer money at least once in 13 months.

To activate the direct debit for your HiSAVE account, please login at our websitewww.icicibank.co.uk and write to your accounts manager.

Sincerely,

Manish T
ICICI Bank UK PLC

How ridiculous!!!!!!!!!

DocProc

And after logging in to my HiSave account, the following message from the Account Manager:

From : RMHSTo : 95XXXXXXXSubject : RE:'ICICICARE=XXX-XXX-XXX' Funds Transfer Query (CustId:=95XXXXXXX)Date : 04/06/2008

Dear Mr. XXXXXX,

We apologize for inconvenience.

We have received your e-mail and would like you to know that your matter is being attended.

Your Service Request number is SR685xxxxx.

We will reply you by June 9, 2008.

Additional Information

Your both fund transfer of GBP 7000 has been reversed with reason "No Instruction". This indicates that direct debit set up has been expired.

We await your confirmation to set up a new direct debit.

Sincerely,
Bhavesh Jagad,
ICICI Bank UK PLC

---

Original Message

---

Subject: Funds Transfer Query (CustId:=95XXXXXX)

URGENT!!!!

Dear Account Manager

I am disturbed to see that a Receive Transfer transaction from my linked account in the sum of GBP 7,000.00, which was instructed by me as a 'One Time' Transaction on 28.5.08, has in fact apeared to have duplicated and is to repeat erroneously as a second transaction into my HiSAVE account on 2.6.08.

I instruct you to please URGENTLY CANCEL this second transaction.

If it is not cancelled, it will put my linked account with Lloyds TSB Bank into illegal overdraft and incur me with exorbitant overdraft penalty charges.

I have a perfect banking record with Lloyds TSB Bank and this erroneous second transaction, which I have NOT requested will also spoil this perfect banking record.

I am finding this all extremely stressful. !!!!

Accordingly, will you please arrange to have me telephoned to tell me that this has been done by you? My home telephone number is XXXXX XXXXXx and you may telephone me at any time for the reason of discussing the cancellation of this second transaction of GBP 7,000.00 - which I repeat, only has to be done ONCE as I originally instructed.

Thank you

XXXX XXXXXX

So this message from the Accounts Manager and the e-mail have taken about a week. Today is 4th June. The first transfer was effected on the 28th May.