I wanted to open a demat account to invest in reliance power IPO. I approached the ICICI Direct a week in advance of IPO open. The customer service person of Teynampet, Chennai branch assured that the demat account will be opened in 24 hrs. I submitted the forms on 12th Jan. I was told that I will get a SMS on 14th intimating the demat account number. I got so many SMS but all wishing me of happy pongal from friends and relatives. No message from ICICI.
I called them on 16th Jan. I was told that I will get it in the evening. Again no SMS that day. The same story was repeated in 17th as well in 18th. The customer service was so irresponsible that they always tell me that they will call me in an hour to update the status, but never bothered to call. It was not only to me, when I was discussing with many of the colleagues at office, they all had the same experience during this period. We have decided to not to have any relationship with the bank in any form (banking/demat account)