NEW ICICI Feedback Poll - Has it got any better?

usadave

i applied to open account that was o k sent my cheque for £1 and recieved email saying account was open and customer number ,said password would be sent by post,still not recieved password that was 3 weeks ago, should i still continue with this account

ceejam

Ah, that's where I am just now, got email earlier this week saying account is open and password would be sent by post!

Hope it arrives soon, I've got £13k I want to move into it!

nilocmac

I think I must be one of the few people who have had little to no trouble with ICICI. Opened the account ok thought it could have been faster but only put a pound in so didn't mind. Any transfers have gone smoothly. In fact this week I was impressed with their speed as I transferred money wed afternoon and it arrived in my current account fri morn.

My wife has just applied last night for an account so it will be interesting to see what her experience is.

Only slight gripe is that they did not seem to know what Section 352 tax forms are. Finally after a few emails between us they have agreed to supply me with one but time will tell if it really have without some more persuasion.

usadave

usadave wrote:

i applied to open account that was o k sent my cheque for £1 and recieved email saying account was open and customer number ,said password would be sent by post,still not recieved password that was 3 weeks ago, should i still continue with this account

Recieved password this morning have transferred small amount from linked a/c to see if everything goes smmothly if does will transfer funds from ing , fingers crossed

DocProc

Went to my HiSAVE account last evening, logged in and then did a Communication to my Account Manager with their account e-mail messaging facility thingy tool.

I was pleased to see they have a special box to use for 'Tax Certificate', which is what I wanted to ask them to send to me.

ceejam

I got my password today, logged in and found the transfer I'd done from my old esaver (Abbey) was credited in 2 days!

Excellent so far!

johnsiddle

Setting up the accounts was fairly quick, but logging into them was something else.
I logged in but my wife could not, we have a joint account, they did not give us an account number for my wife only a password.
Eventually sorted.

Now I have the problem that I want to transfer from INGdirect using bacs but Ing wont action it unless I send them a cheque from the account the money is going to and u guessed it we dont have a cheque book for ICICI.
So the only way is to send the money from ING to LLoyds then from LLoyds to ICICI.
So far I have done nothing other than set the account up.
Regards John

tube_lugger

:j It all worked swimmingly well. Have even changed my linked account without any problems

MarkyMarkD

DocProc wrote:

"Quite OK in India"?

Hmmm?

Check out its share price history (and other stuff too - just click on the other page links) at

http://www.myiris.com/shares/company/chartShow.php?cSelect=2&icode=ICICIBCO

Perhaps we should be buying the actual shares, not just saving with a HiSAVE account?

Here's a piece of News, taken from the site above and which shows you what they do with our money. Namely 'lend it out'. It explains why they can give us such a good rate and seems to me to also indicate they have no immediate intentions of dropping the HiSAVE rate. I do hope I'm right with that personal opinion:-

ICICI Bank hikes benchmark prime lending rate to 11.75 %
Source: IRIS NEWS DIGEST (14 February 2006)

ICICI Bank (Q, N,C,F)* has hiked its benchmark prime lending rate (PLR) by 0.5 percentage points to 11.75 per cent with immediate effect, reports Business Line.

The bank may be the first to hike the PLR after the RBI`s quarterly review of the monetary policy last month, signalling a hardening interest rate regime.

The bank has also raised home loan rates by 0.5 percentage points. The revised fixed home loan rate is 9.5 per cent, while the floating rate is 7.75-8.5 per cent, with effect from February 13.

This is the second time this year that ICICI Bank has raised its PLR. In early January, the bank effected a 0.25-percentage point hike.

I think the basis for your opinion that they won't reduce rates is rather flaky.

It's over-simplistic to think that just because a bank charges high rates (in another, high-inflation, country) it can pay high rates in the UK. Banks don't simply borrow (from us) in sterling and lend (to others) in Indian rupees. If they did that, they would get stuffed on exchange rate movements.

anticlaus105

tube_lugger wrote:

:j It all worked swimmingly well. Have even changed my linked account without any problems

How did you do this? Did you phone them?

I once tried to do this using the web site and nothing happened. Sent off a few messages about it but still nothing. As a result I have not reallly used the account much.