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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Dear Mr. Samuel,
We request you to write to headservicequality@icicibank.com with your account details. Please use subject line as ” Comments from Site”.
Sincerely,
Rakesh Sah
Office of Head Service Quality
Comment by ICICI Bank Service Team — July 4, 2008 #
The ICICI bank service sucks and it’s gonna suck forever. The cause for it lies in the banks faulty sales & HR policies. My wife used to work for ICICIBank Retail Branch Banking and I have observed some peculiar things about the way this organisation functions.
1. The employees are made to work 10 hrs a week and 6 days per week. which makes it 60 hrs per week. Way above the stipulated weekly working hrs of 48 hrs/week.
2. The KRA of a branch operations’ personnel has 65% weightage on sales!!! and 10 – 15% on customer service and query handling(and no incentives on achieving the targets, when the sales guys are given incentives for doing the thing – i.e. sales – they are getting their salary for)
3. The sales target for each individual is appallingly high. No wonder the sales guys have to resort to miss-selling to customers to save their jobs every week.
4. There is a very high employee turnover rate (every year It recruits about 7000 new hires whereas the total employee strength is about 25000)
Given all the facts, it is mere foolishness on the part of the customer to expect any kind of service from “the” ICICI bank.
So guys if you have a salary account in the bank you guys are lucky, others i really pitty.
Ohh another fact…from July 1 2008, all the savings account holders will only get 2 booklets of 15 leafs each…extra booklets are gonna cost you Rs. 50 per booklet.
Soooooo….HAPPY (????) Banking with ICICI (Intrgrated Cheaters InCorporation of India)
Comment by Psychedelic — July 8, 2008 #
Hi Friends,
I write this comment to share my bad experience with ICICI netbanking service. ICICI bank netbanking provides one facility, prepaid mobile recharge service. They said, through this service we can recharge or topup our mobile, also within 15 minutes a confirmation will sent to our mobile. But i tried for several times, my mobile never get topup’d or recharged by using this service. Instead they debit the amount from my account. Also they said that in case of failure in recharge your amount will be refund within 4 days, i tried 5 or more times every time i tried my mobile was not topup’d even no failure message was sent to me, I have to wait for 4 days to get back my amount, Recently i tried twice (2 attempts) in the same day. both are failed and after 3days the amount for one attempt was refunded and dont know what happen to the second one, For that i sent mail to the customer care and waiting for reply. I dont know whats the purpose of this service, Really Very Bad Service
Comment by Vijay Babu — July 16, 2008 #
Dear Mr. Babu,
Please write to us at headservicequality@icicibank.com with account number and contact details. Please use subject line as ” Comments from Site”.
Thank you.
Sincerely,
Uma Lakhani
Office of Head Service Quality, ICICI Bank.
Comment by ICICI Bank Service Team — July 16, 2008 #
I am trying to open a FD from internet banking. After taking transaction password, nothing happens.?????
Comment by Sourav — July 17, 2008 #
To All those ICICI sympathisers or employees who keep writing about sending mail to head service quality !!!
Some tips to improve the image of your bank
————————————————————————
1. The head service quality and coo etc mail addresses are overloaded
2. If you wish to help the customers, please give your direct addresses IN ADDITION to the headservicequality address
3. The live help – chat site of ICICI is terribly slow and needs speeding up
4. an easier live help that works on ALL browsers / or other chat ids need be set up
5. Local help numbers should also be set up overseas – like in the far east, middle east and US A where ICICI is expanding
regards
Subu
Comment by Subu — July 18, 2008 #
Dear Non performing Head of SQ dep ICICI bank,
I hope you have my email directly to your department about serious issue I raised and as usual Banks irresponsible responce over it.
Guys,
my issue was with the nexus with bank employees of Kandivali branch one guy managed to get statement and ID verification letter duely stamped and signed by ICICI bank Kandivali branch
I raised this so customer care rep replied after his DEEP investigation that Nothing ws issued to third party.
I again raised it to higer level that is Head of SQ dep,and responsible officer there took 6 months and they really did investigation over this and found that Statement ws issued to third party because signature was matching.
I asked kind officer to give me responce in writing but they replied over the phone that they will not issue any letter in this regards and stopped attending my emails fo same
Again I raised it to Nodal Officer on next immediate day …Nodal officer did DEEP investigation and again HEad of SQ dep ( same dep I got reply admiting issuance of statement) replied to me that NOTHING was issued to anyone.
what kind of organisation this is
stop pretending that you care for customers..our national banks are 100 % safer compare to your great ICICI bank
Now again if you want to reply to any Blog comment over this website please make sure that you have face to come back again and write something on this website.
I am writing again to head of SQ dep to give me final investigation in writing but so far they have not replied to me and I am sure they will not
now the option for me is file a complaint with omburdsman and slap a legal notice to bank for all wrong thing bank did to me.
not for getting any compensation but to avoid misuse of the issued statement and ID verification letter to third party which Bank obviously donot care.
Hope I donot see any comment here by Head of SQ dep guys..
I advice everyone DONOT even think to choose ICICI bank for our hard earned money.
Regards
Rajesh
Comment by RAJESH THOSARE — July 18, 2008 #
To,
The Head, Service Quality.
ICICI Bank Ltd, Mumbai
This refers to your letter dated July 21, 2008 (HL/MUM/07/14) in response to my acceptance of Banking Ombudsman’s award BO(M&G)/COMP956/ST/07-08, subsequent affirmation by Hon Dy Governor and Appellate Authority, RBI vide order CSD.BOS/5986/13.23.01/07-08.
1. Kindly note that the amount computed by you is not complying the BO’s award, which stated that ‘the net ROI applicable to borrower’s account should not higher than net ROI being offered to the customers linked to FRR’.
(1a) Arbitrary application of dates: ICICI had launched the FRR in Jan 2004 as per your letter to the BO (Rate change history of PLR&FRR…), whereas your computation sheet is incorrectly applying the FRR changes from Jan 2005.
(1b) Arbitrary application of net ROI: Floating Rate offered by ICICI on home loans was 11.25% in Sept 2007 (a copy of the letter was submitted to the BO’s office), while you have charged me an ROI of 12.5%, i.e. 1.25% higher net ROI. The re-computation is showing a reduction of only 0.5%, and not 1.25%.
(1c) Incorrect computation: The computation provided by you is incorrect. The actual difference was exceeding Rs. 70,800 by Oct 2007, where the loan account should have closed, no interest charged thereafter.
2. Ignoring penal interest provisions: ICICI has also not complied with the 2nd clause of the BO’s Award, which refers to reset cycles and other terms of the sanction letter. The sanction letter clearly refers the detailed terms and conditions including penal interest provisions in the Loan Agreement. ICICI should have also paid penal interest to me at 24% as per the loan agreement. The loan would have closed by Oct 2007, had ICICI applied correct net ROI.
3. Back dated cheque: You have sent a back-dated cheque of Rs. 27754 with a month’s validity from date of issue. The amount is also just a part of total amount payable. The standard cheque should be valid of 6 months.
Therefore, it is concluded that ICICI has applied arbitrary rate of interests and arbitrary dates while re-computing the net ROI, and provided a incorrect computation statement and a back dated cheque. Therefore, the BO’s Award has not been complied with.
I request you to kindly comply the BO’s award within the timelines provided by the BO and Appellate Authority and send the revised cheque ASAP
I have been complaining about ICICI’s deficient, unethical services for over 5 years now, and provided all the necessary documentation. My complaints were examined by RBI, and orders were issued for ICICI to refund my money. It is such a shame that despite RBI’s orders, ICICI continues to engage in such cheap practices.
It is time that the people and the regulators wake up, and stop the nonsense.
If the bank itself sets an example for cheating, monopolistic approaches, should the Bank expect people should not default on loans, or become cheats? Set an example yourself.
Thanking you,
- Parag
Parag Palsapure
B-702, Neel Paradise , Sector-9, Nerul, Navi Mumbai
Mobile: 9322662040
Cc: BO(M&G), Appellate Authority.
Comment by Parag Palsapure — July 23, 2008 #
I have to agree that ICICI bank is one of the worst banks in India. Unfortunately, we have business account with them and it is a pain to get the employees to do anything. Probably the most incompetent people in the industry.
I have a number of these unfortunate incidents to share, but let me start with the latest one. Our client in United States made a payment to us via SWIFT transfer. Normally such transfers take a maximum of 48 hours to reflect in the account. However, today is exactly one month from the date of the transfer but no money.
We even got the client to check on their end and their bank has confirmed that the SWIFT transfer went through. We have a copy of the SWIFT transfer receipt. We have been dealing with this client for a long time and their payments are never delayed. To the extent that we’ve received their next payment via the same route.
ICICI bank staff told us that the client has not made the payment and that we should get some proof from them without even checking at their end. Our client went out of the way and got a letter from their bank stating that the money has indeed been sent to us with all the relevant details and the same was submitted to ICICI bank. But to no vail, ICICI bank employees are still unwilling to move their arses to locate the payment saying that the issue has been escalated.
I can’t believe that a bank can be so incompetent that can’t do something that they are supposed to do in 2 days, in a month’s time.
Comment by Aseem Mehta — July 24, 2008 #
I narrate 3 instances:
We have a business current account with ICICI bank in Delhi.
We always used to deposit our VAT in near by SBI or PNB . Only for the last 3 instances we deposited through ICICI bank.
Recently we got online access to our account by department of VAT – Delhi. On clicking on one of the tabs one can get the entire history of erstwhile Sales Tax and now VAT payments made by us. It reflects all the payments made since our registration with the department in 1992 but not last 3 payments made from our account with ICICI Bank. Once is a chance, twice a co-incidence but thrice is definitely a pattern. God knows what happened to the money. Whether they actually transmitted it or siphoned it off.
Instance 2:
I opened my locked/unoccupied flat in delhi to find icici bank demat account statements. Some one had opend an ICICI direct account giving my address as his residence. He could trade in crores and if for any reason he would have got a notice from Income Tax , it would have been served at my address. Surely there should have been some sort of address verification by ICICI. There were credit card regret letters from other banks. Luckily the number given on the demat booklet was genuine. I tried calling up the fellow but he would cut me off. So on my 5th attempt after making sure it is the same fellow… I abused him like any thing. It was real shock and awe. Must be a man of some standing but receiving ma- behen gaali worked. He changed his address and since last 2 months I have not got any ICICI letter addressed to his name on that address.
3. ICICI bank patel Nagar in Delhi – A pathetic branch. Computer system is down / server is down more than 10 days in month.
This is one shitty bank if there was one. This is one bank which gives two hoots about RB I / SEBI / IRDA or the finance ministry itself.
New full form of ICICI is : INTERNATIONAL CROOKS and INGENIOUS CRIMINALS of INDIA , actually very few people knew about that; but now you do too.
Comment by Udayan — July 25, 2008 #