NEW ICICI Feedback Poll - Has it got any better?

kenshaz

i have had no problems,at least 4 trial runs to and from with no hassle,but with ING reducing rates,should I move my money to them,they have financial protection but only for £30000,in fact that is all the cover you get at any bank,but is it as secure as ING or any UK bank or am i over stating,but it is a lot of money to lose.

linkup

Thanks innovate - I know that the limit of FSA gurantee is around £31k (100% of first 2k plus 90% of further £33k I think). Is it wise to open six separate accounts to keep my dosh secure or is that just being too nervous? Is icici any more precarious than the main UK banks? Martin seems to suggest that they're OK - "My overall personal view is there’s no safety risk to your cash (or at least no more than any other bank)"??

Mike

ptodhu

I went through the form filling on their website and gave all the details they requested. After reading the T&C's carefully I pressed continue and the the reponse was from them that their system had crashed. I called the nice young indian girl and she told me to fill the form out again. This I did and this time it seem to go through OK. Now I await them contacting me. :j

tomstickland

I'm a bit wary of ICICI. The difference between a 4.8% and 5.15% account over a year is £2.80 per year for each £1000. (after 20% tax).
I've just opened a Cahoot savings account. I'm going to keep the ICICI but will feel more confident in the ability of Cahoot to deal with any problems.

linkup

I have now transfered my dosh (£175K) into icici and it was reasonably easy. However, I have opened a Cahoot account (in time for the old 5.15/5.25% rate) and an Alliance & Leicester Online Saver 2 at 5.15%. I am spreading it around.
To do this I had to transfer a lump sum out of icici (£100K) and the options proved limited to one. I HAVE to transfer it to my Halifax CURRENT account which pays very little interest. (A&L won't give me a Premier Account and I'm waiting for Lloyds decision still). So to get the money to Cahoot (£75K) and A&L Online Saver (£25K which is the max.) I had to pay for CHAPS tansfers at £25 each. This means the money is moved the same day it arrives in my grotty Halifax current account. Had to do the sums to see if the CHAPS cost was more than the lost interest though. I did make the mistake of initiating the transfer on a Saturday so it went out of icici on the same day but I still had to wait for three working days for it to arrive in my current account (it arrived Thursday). A money saving lesson learned! Fortunately Cahoot have more options on how you can transfer the money so I can just do a tranfer to my other accounts directly without having to go through the Halifax account.
I am now looking to spread the rest of the dosh into more accounts to average around £30K in each. Any suggestions welcome.
Mike

Roselli

I opened this account way back in June. Opening was fine. Everything seemed ok at first but the first regular direct debit I'd organised went horribly wrong - wrong amounts a number of times within the same week and a nightmare to get the money refunded. Eventually had to get my normal bank to refund under the indemnity. I decided then to close the account and received no response initially. Finally after a deluge of emails received a confirmation that they had closed the acount. However, the following week they initiated a direct debit for a crazy amount and took the money! Contacted my normal bank to refund which they did again! This has been going on since September and just happened again this morning. From my experience, there is no problem opening account, but once that's in place the nightmare begins. I would urge anyone to think very carefully about using this clearly amatuerish organisation.

CopperPlate_2

Applied on or around 15/16 of Jan. Still waiting for the email and have given up.

Useless.

batty_2

very bad 3 weeks and still no account i have give up .

darlolad

Applied for my ICIC account on Tue (7th Feb), had my confirmation email from ICIC confirming my account would be activated once they recieve a chq on 11th Feb. So every thing has gone ok upto now. :T

Fastflys

Having had a dreadful time opening 2 accounts with ICICI [1 for me – 1 for wife]
we have now transferred money to both accounts on several occasions without a hitch. In fact ICICI credit our accounts several days before the money is
Direct Debited out of our nominated account. Interest has also been added correctly and on time.

We still do not fully trust this bank yet so have only transferred £25,000, into each account to minimise any possible losses.