I would wish to share my experience of the negligence of ICICI Bank towards sensitive customer information handling, deficiency in service offering and the threat & harassment it imposes on consumers banking with ICICI.
I have been facing issues with logging in to icicidirect website. It prompted me that my account is deactivated and requires re-submission of my account opening forms and documents.
On calling the customer care centre, I am given to understand the following -
That the Mumbai flood destroyed my record and bank currently needs me to resubmit the applications and documentation and proofs to re-create those records.
That this is not a problem specific to me, but a large number of ICICI customers have been similarly impacted.
I see this as follows:
1. ICICI bank had faulted in their service offerings, and inflicting harassment to its customers for mistake made by the bank.
2. Negligence on the part of ICICI bank to not being able to maintain the safety and security of sensitive customer records.
3. It is a threat for people to bank with ICICI, given the fact that the bank fails to maintain safe custody of sensitive data.
ICICI bank does not seem to have a backup/recovery copy of customer data and solely depends on customers to come over to their desk and re-execute the applications, with proofs and documents.
ICICI happily deducts service charges ontime for my demat account, even though my account has been deactivated for availing any services.
What if tomorrow ICICI looses other critical records again? Say, a subset of saving account holders data records are lost and their account balance falls to zero? Does the bank expects the customer to prove their holding for any reversal/recovery?
What if any sensetive customer information lost by the bank, reaches the hand of misusers? Its not hard to see examples of credit card frauds and identity thefts around.
It is hard for me to digest the fact that the bank simply tells me that they have lost all my information from their records? They however still have the accounts open(but deactivated) and happily charging me of their service fees regularly, even when no services are offered.
I can easily go up to the bank and re-do the paper work to get my account activated. But that doesnt give me the confidence back to bank safely with ICICI.
I am following up with ICICI to understand indepth the issue - but the bank authorities have decided to act deaf.