I had the misfortune of having accounts with icici bank and icici direct. since the time i’d opened the account in novemeber 2000 i’m facing problems. I think I should write about these incidents to warn others who may be tempted by their advertisement and marketing efforts to open account with them.
I called up icici help line for openeing an account with icici direct. the person missed 3 appointments before actually meeting me. he had no idea about the product and could not answer any question satisfactorily. but I was so much impressed with their ads, I decided to go ahead and opened the account.
the infinity password - since novemeber i’m trying to activate the facility with no luck. it took 2 attempts from their side (and lots and lots of phone callls from my side)for the passwaord to reach me. I had deposited the ack slip in the nearest branch which never reached them. so I had to fax a message to them. by that time they had disabled the account for some reason. and it is still going on.
their help desk people are just good for answering telephone calls with no knowledge about the general market or their own systems. atleast on two occassions I have rcvd contradictory replies from them.
4.initially they used to reply e-mails to their helpdesk within one day. sometime back it was increased to 3/4 days. for last ten days or so they have stopped responding to my mails. however their marketing mails reach me which is even more irritating.
5.as regards, icici direct the less said the better. in case you purchase shares on margin, they sometimes sell it if the price falls. however i’m yet to find out what is the criteria for that. in my case it was sold in the middle of the settlement and till the end of settlem, ent the price had risen much above my purchase price. but they had already sold it at a loss! my mails regarding this remains unanswerd till date.
i think they have overstretched themselves and need serious thinking on consolidation by their topmost management.i have rcvd much much better service from corporation bank (a psu bank)for over 6 years.