1) I have a savings bank account and Demat account with ICICI. Few days ago I got a call from their executive regarding New brokerage plan, I went for a visit and they explained me the Plan.
Those executives were not familiar with the term "Carry Forward" which is commonly used in Options Trading. According to them if your trade is not Intraday, it is Carry forward.
They even did not know in depth details of New Brokerage Plan. At every Doubt I raised, executive was unaware and he had to discuss with his Senior.
It was totally Waste of Time.
2) My second experience was about PPF account. Yesterday I went to open PPF account in ICICI Chinchwad Branch. I have got FORM E and Nomination form with me. after my Token No. flashed at the screen I made it to the respective Counter. I told that lady, I want to Open a PPF account and I have brought together printed(Online Filled) Forms. She looked at other executive attaining another customer and asked, "Hey, How to open a PPF account?
According to ICICI bank Website; "Amount entered above will be debited to your account only after the PPF account is opened."
I had entered 500rs.
That lady Asked me for cheque of 5000 rs for opening an Account.
I had to tell her, if you do not Know, please discuss with your Senior.
At the end, I had to give Cheque of 500 rs though it was written on Website that 500 rs will be debited online after opening an account.
3) At the same day, I asked another executive about investing in Gold. He told me to invest in ETFs and Gold Bees. I knew about ETF, and I was also planning to invest in Golman Sach ETF.
According to the Executive: In ETF, fund directly invests into Gold Mines. and Gold Bees directly invests into Gold.?(Actually Goldman sach ETF is also called as Gold Bees)
ICICI have very Inexperienced and careless staff.