I have been trying to open an ICICI Direct Account for the last one month and I am still not successful. I am an ICICI Privilege Account holder and have listed below a detailed sequence of events, the associated problems, and the steps I will be taking.
==**The Events
==Here is a short summary of how long it takes to open an account with ICICI Direct for an existing ICICI Bank customer - IF it can be opened **that is, because my account still has not been opened.
30th October - I called up customer care to request for opening an account on 30th of October. I was provided with reference number 64516017. I was told an executive would come and collect documents within 3 days(not working days but 3 days.) One week elapsed and no executive showed up.
5th November - I again called up ICICI Direct customer care. The executive had no record of my last call. There was no record of my number and she said my reference number did not mean anything. I said ok fine. Please take a new request. This time I was given another reference number - SSA64847786. The agent said it would take 3 working days to send someone to collect documents. Another week elapses. Nobody comes. I call up ICICI Direct customer care and complain. Nothing happens.
11th November - I call and complain again. This time I receive a call from an ICICI representative saying he will come and collect the documents and cheque for 975 Rs.A person comes and collects documents. No reference or counterfoil is provided. He promises that the account will be active in 3 days after verification on Saturday.
15th November - I call up the agent again asking when is the verification going to happen. He says the next day. I say ok.
16th November - I again call up the agent. He gives me the number of the operations manager George - 9962531569. I call up the operations manager. He says processing is happening. It will take 1 more day.
17th November - I call up again. Same response. By now I am fed up of following up. So I wait to see how long ICICI Direct takes.
19th November - I get tired of waiting. I call up George again and ask him politely to return my cheque since I am no longer interested in opening an account with ICICI Direct. He transfers me to Martin - the operations head. I politely tell him what happened and inform him that I am disappointed with the service. He promises to send across the agent immediately that very same day. I said ok fine, since I had already waited this long, I could wait till evening. Nothing happens in the evening.
20th November - I again call up George. I tell him I am going to cancel the cheque if he is not going to open the account. He finally sends someone across. The representative comes home. Takes a look at my pan card and gets some more signatures. He then gives me a document with my ARN number etc. He says it will take 2-3 days for the online login to work and I will get an email or SMS from ICICI. Nothing happens.
24th November - I try again. The login ID doesnt work. The account is not active. I have not recieved any communication from ICICI. I email ICICI Helpdesk with above details. They tell me to "Contact ICICI helpline if I wish to open an account so that they can send an executive to collect documents." I don’t think they even read mails completely. Anyway let me continue,
29th November - I call up George again. I tell him I am fed up. Please return my cheque. I dont want this account with ICICI any longer. I tell him the only reason I wanted it was because I had an ICICI Bank Privilege account. I think I will close that too. He promises to get my account activated on PRIORITY by 9:00 PM at night. I say ok. As expected, nothing happens
30th November - I don’t know why I am writing this. I still dont think anything will happen judging by the incompetence I have seen so far. Why should I expect anything different from higher management?
The People Involved:
The ICICI representative - I dont know his name but his number is 9840848823
George - ICICI Direct Operations Manager(or so he says) - Number 9962531569
Martin - Operations Head(or so he says) - I don’t have his number
Me - Harassed and disappointed ICICI Bank account holder(I will soon change that). No longer a potential customer.
The Problems
Poor customer service - I have already elaborated why
Poor communication - I still dont know if opening an account with ICICI Direct is possible. If it is, and it takes longer than one month, I think that should be communicated. The standard’3 days sir’ answer is not good enough.
Amazingly incompetent staff. I have seen government offices working faster.
The Alternatives Left to Me
Send an email to the greivances section - Done. This was the email.
Collect my documents and cancel the cheque - Will be doing tomorrow
Recommend friends to try other alternatives for trading since ICICI Direct obviously does not want customers - Will be doing forever
Write a review of experiences on Mouthshut and Traderji - Writing it
Open a 3-in-1 account with HDFC Securities - Will be doing tomorrow. Will be finished by Weekend.
Thanks for all the wonderful support I have received from you guys there. It was an absolute pleasure doing business with you. If you intend to continue doing business the same way it is carrying on now, I am sure I am making the right decision by choosing not to continue my relationship with you since it would’ve never been a long or pleasant one anyway. I regret any inconveniences I might have caused to you or to your staff and apologize for wanting to open an account with you. I have learned my lesson and promise to never repeat the same mistake again.