ICICI Bank - A bad experience for many
April 27th, 2005 at 10:16pm
I had only verbally heard about the bad experiences people are having with ICICI Bank, but this just proves it!
Came across this page (do read it! - opens in a new window) via madman’s page.
I have a account with ICICI bank because its our salary account, and we are kind of forced to use ICICI Bank. And since we have a salary account, we get a decent service. But yes, the credit card department, and the call centre sucks big time. That’s my personal experience.
They put you on hold for 5 to 10 mins. (just imagine listening to the same junk music/tone/adverts continuously), and then there is no guarantee that you will get to speak to someone or your problem would be solved. Infact, today I was put on hold for around 7 mins, and after that the call as abruptly disconnected!. Next time I call the call center, I get to speak to a totally new person, and start from scrap describing the problem. The people at the call center just promise to do things, and nothing actually happens. If it happens, then you are really your luck.
Hope K V Kamath reads this!.
My advice to all - Avoid ICICI as far as possible. Many people predict that the bank would collapse in a few years from now. Have a account with any nationalized bank.
Personally, I have an account with SBI and keep a minimum amount in ICICI.
Tags: bad service, bank, bank accounts, complaints, Credit cards, customer care, customer service, customers, escalation, ethics, goondas, icici, icici bank, icicibank, india, popular, private, problems, rowdy, service, unethical
Entry Filed under: Life, Useful Stuff
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Thank you Poonam and Ankur…much appreciated.
Comment by bsuchak — March 29, 2006 #
I am that NRI friend of Ankur’s. :smile:
As of yet, they have said that it will take 10 business days for our account to be opened. There are some things that are good (and bad — if in case you do not have a Citibank checking account).
If you have a Citibank checking account (other than the NRI account) then you are able to instantly send money. The day you want to send money you will get that exchange rate.
If you do not have a Citibank checking acct. then it could take up to 3 business days — so you get the exchange rate on the third day — which could be higher or lower than the day you want to send. It becomes just the same as if you would use services such as Remit2India.
You do get 3.5% interest rate, but the exchange rates at ICICI Bank are better than Citibank.
In means of service, Citibank people have been much more responsive and knowledgeable than ICICI bank. ICICI did not even contact us after we had completed their application form on the net — where Citibank contacted us immediately.
If you want more info — just let me know.
Comment by Poonam — March 29, 2006 #
I will just try to get some information from the person concerned in US…. or ask her to leave some comments here.
Comment by Ankur Raheja — March 28, 2006 #
Is CITI Bank good? What are experiences with CITI Bank?
Comment by bsuchak — March 28, 2006 #
Even I made one of my NRI friend to change the decision of opening the account with ICICI and referred them here, so instead they opted for CITIBank.
Shame on ICICI Bank… :p
A Raheja
http://www.cyberlawyer.in
Comment by Ankur Raheja — March 28, 2006 #
Hi,
I was considering opening an NRI account with ICICI bank….but after reading the blogs….i have decided against it. I don’t feel that the consumer protection we enjoy in the UK is anywhere near as robust in India.
Thanks to all for the warning.
Comment by bsuchak — March 28, 2006 #
Hi there.
With regards to ICICI Bank and its shutting down an stuff. I myself do not like this bank, but having worked in this bank, i can let out one secret.
Its a stinkingly rich bank. The best service is reserved only for the top segment of customers, HNIs, and high end users. ICICI wants nothing to with the common man now anymore. Hence we are given the go ahead to close any account of the common man.
I dont thnk this bank can ever shut down, coz they got stinking funds out there an overseas investors, an offshore banking units (FDs are in millions of USD). Its just that this is a bank only for the cream segment of the society. They got too many accounts than they can handle. Hence close off the common man accounts.
Plus in case of any calamity, natural or otherwise, its only the ATMs of the top banks which always work properly, remember 26 July in Bombay, only the top Bank ATMs had networks. Also you can be assured of your ATM PIN protection an other acc security with these top private sector banks. remember the SBI PIN scam where it was an internal jobs with atm PIN being hacked and used.
This is the sad truth, so please do think twice before going in completely for nationalised banks. Divide your fortunes properly between good banks. However i completley agree that ICICI sucks.
regards
Sonia
Comment by Sonia — March 28, 2006 #
And Here is my story.
I had applied for a ICICI credit card couple of months back.
They send me back a letter saying a card has already been issued to you.
I call them.
First their customer care person dodges all the questions.
Then I insist to talk to the supervisor. She comes on the phone and tells me I have no card in my name. I tell her about the bank letter.
Then she do some “research” and come up with this story that I have neen issued a card 3 years back .
I tell her i never I got a card and this seems like a mistake or a case of identity theft. She refuses to help me out in this one and ask me to follow up on the email.
I had a email conversation with them. After 2 weeks and 10 emails, they send me a statement saying here is the money you owe us.
I again tell them that this card was never issued to me. NO replies.
They have Bank’s chief’s email id on their website. I have send few emails to that email id too. But they have just stopped responding back.
I have never in my life seen such a bad customer service.
I am just worried about somebody using my details.
Comment by Harish — March 28, 2006 #
I guess ICICI Better develop a software where a customer service executive could feed in th issues being reported by the customer..it really sucks to keep calling them again and again to repeat the last mentioned problem.I had called up from singapore and was left on hold after reaching the officer for abt 10 minutes to say that they wud let me know later….
Comment by rupesh — March 27, 2006 #
I am one of the ICICI group employees and i sit in one of the busiest icici bank in core of mumbai. I sincerely believe icici is the best bank if you dont have to come to the bank [buy me, it is designed for that :)] however if you come to bank, you better have some patience rather bullying. The reason is simple, SBI and ICICI has similar asset sizes, but SBI has 13500 branches while icici has only 650 branches, take the ticket size of icici is 4 times bigger than sbi [this is a crude assumption], the work load placed on public is atleast five times…
one more thing icici bank is essentially a retail financial shop with skeleton of core banking services. the actual banking process is centralized. number two, the service for group comps is very difficult to provide… for example expecting credit card services in icici bank is something like expecting postoffice to take complaint about bsnl and act upon it just because both belong to government. at best postoffice can help you by collecting your telephone bill on behalf of bsnl, you naturally cant say i have paid my money here you answer me…
second, as an employee i thought icici services sucks.. but i get a chance to interact with customers many are really happy and they want icici service, for the sole reason others are even pathetic.
third and last, some services that icici provides made them darling to small time business guys, like putting money in any branch in the shop’s account for business dealings, it introduced problems like necessiating check of name and a/c number before putting in [well, just in case :) is what customer says] and followup for the screwups in account number name or details in cheque… the best part is customer shouting why u didn’t informed us… it is all pain and suffering… for customers, but buy me, the employees are reeling not able to handle the volumes.. you guys read in newspapers that kv kamath comes at 9 and leaves by 6, here the ground staff slogs more than 10 hrs a day…you really need to emphatize with them.
Comment by Prasath Ramani — March 24, 2006 #