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Icici Bank

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currently offering 5.15% on saving account, but I've never heard of them?! is it safe to put some money in an account with them do you think?

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currently offering 5.15% on saving account, but I've never heard of them?! is it safe to put some money in an account with them do you think?

They are an Indian bank and are quite safe to use. They adhere to the same rules as other banks.

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They are an Indian bank and are quite safe to use. They adhere to the same rules as other banks.

Hi Ozz,

Do you use these guys ? Can you back that up with any personal experiences ? I asked for some advice on these guys in another thread but drew a bit of a blank (although Glenn seemed pleased enough with them).

The general things I've heard about them have been bad - applications taking weeks to process, accounts left unopened, money left untransferred, general poor performance, no communication etc.... There is an old thread about them (from an investment forum) somewhere in this forum....I'll try and dig it out. That said, a lot of this was Autumn/Winter 2005 and was put down to an overwhelming number of applications at the time.

Has anyone got any recent experiences of ICICI ?

Edit - here's the link to the forum........ ICICI. Bear in mind, some of these complaints are over six months old and may (??) have been ironed out.

Edited by Libertine

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Hi Ozz,

Do you use these guys ? Can you back that up with any personal experiences ? I asked for some advice on these guys in another thread but drew a bit of a blank.

Not got any personal experience of using them. I decided to go with Cahoot (5.2% for 6 months at the time - now withdrawn). I too have heard bad experiences of setting up accounts with them. Maybe that is now sorted.

New ICICI customers, please step forward!

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Not got any personal experience of using them. I decided to go with Cahoot (5.2% for 6 months at the time - now withdrawn). I too have heard bad experiences of setting up accounts with them. Maybe that is now sorted.

New ICICI customers, please step forward!

I signed up for their account but have sinced closed it.

The customer service was pretty awlful, simple requests or questions could not be understood, even closing the account was hard work.

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Not got any personal experience of using them. I decided to go with Cahoot (5.2% for 6 months at the time - now withdrawn). I too have heard bad experiences of setting up accounts with them. Maybe that is now sorted.

New ICICI customers, please step forward!

just applied for a new account yesterday online. will keep you posted :)

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currently offering 5.15% on saving account, but I've never heard of them?! is it safe to put some money in an account with them do you think?

Have banked with ICICI in India, pretty good experience, though have not tried them over here.

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just applied for a new account yesterday online. will keep you posted :)

they contacted me within 2 days to request I post them a cheque for £1 to open the account so thats on its way. lets see how fast they open the account.....

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Opening the account is fine now as the rush is long over.

I found problems with transfering money, after 10 days (7 working days), my money still hadn't apeared in the account. When I phoned customer services to ask what had happened, the guy on the phone didn't understand the question and I was told a supervisor would phone me back (they didn't), I phoned again the next day and again they didn't understand what I was asking them, but this time I got throught to a supervisor who blamed my current account bank (I phoned them too and they said it had definately gone over), phoned a third time and again got no luck, so I wrote a letter (in the meantime the money cleared, 14 days in all), I got no reply to my letter. Also, I had to transfer some money out, this again took over 10 days and several calls to customer services. I'm afraid when thousands of pounds goes missing for days on end and no one can tell me where it is (on two separate occassions) I do start to sweat a little. So by this time I'd had enough and decided to close the account. It took them nearly over a month to finally transfer the money back to my current account (Apparently they hadn't received my request to close the account, B0ll0k5!).

I am not someone who generally gets angry at CS people, I've dealt with Indian CS staff before and on the whole not had a problem with them, but these guys really tested my patients to the limit.

This of course is just my experience and to me a little more interest is not worth the hassle. If you're not worried about customer service, then go for it as the rate is excellent (in the present climate).

LG

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I opened an account with them a few months back and I'm not hugely impressed with them. They're OK, but not exactly special.

First off, having applied, I got sent a pin number and that was about it. There was no other number to log in with. I sent out an email to ask what had happened, and got a reply within two days telling me what the number was - not good, but at least it got sorted quickly.

I did some test transfers and I've found them fine, no better or worse than anywhere else. I can't comment on the phone service because I haven't used it, but I've had nothing but crap experiences when dealing with Indian callcentres so I don't expect much from it. I just hope I never have to use it much.

The account itself uses a customer number and a pin number to log in. I think I prefer passwords or phrases really. The site itself is useable but awfully simplistic. I find myself feeling like I'm using an obsolete system whenever I use it.

Beyond that, I haven't had any major problems so far - but I haven't risked putting much money in it yet.

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they contacted me within 2 days to request I post them a cheque for £1 to open the account so thats on its way. lets see how fast they open the account.....

so far so good. account now open, just waiting for a password in the post

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so far so good. account now open, just waiting for a password in the post

I am OK with ICICI now but a tad weird getting set up. As well as needing a password you also need something called a CIF number (acts as your Logon ID) which I was expecting to get separate by mail but it never arrived so I emailed ICICI and they emailed the CIF Number to me :blink:

Edited by penbat1

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