I had the worst experience with ICICI Bank.
About 2 year ago I opened a savings account in ICICI Bhawanipur Branch (Kolkata) with Rs 5000 ( in 2003)
I did not take care to regularly monitor this account , neither did I get any bank statement to worry about. When I just happened to check the account in Dec 2004, I observed that they had debit more than half the money from the account on one pretext on another.
I immediately cancelled this account (got back Rs 1500 !! after an account closing fee )
I was appalled by their service which didn?t even try to contact me once before deducting money from my account.
They gave me the following reason for debiting from my account.
They said that one needs to have Rs 5000 minimum balance in the account .I was aware of this requirement. and therefore I opened my account with Rs 5000. Well , after a week they sent me an ATM card , and deducted Rs 250 as ATM charges , WITHOUT ever telling me about the deduction .Now that the money was less than 5000 , they felt free to deduct at their whim and fancy , without ever sending me a statement.
Since, I had already signed up for an ATM card at the time of opening my account, would it have hurt them to tell me that with the ATM service charges , the balance will immediately go below the minimum required ?
I checked in their files that they had my correct home address and my home telephone number, if they wanted to , they could have contacted me in various ways.
This bank is a sham .I would warn every one to stay away from this bank. They will treat you well at the time of account opening , and then simply forget about you.
Please pass this around to your friends as well .They, in particular, target the young IT crowd in India.