Continuing my ‘Consumer Awareness’ experiences, this one pertains to a reputed private bank which claims to be one cut above the rest. Often people frown upon the nationalised banks for their poor and outdated services and always start comparing with the big private banks where every single service is charged except entry in to their premises.
Recently ICICI Bank opened a new branch near my locality and went there to open a tax saving fixed deposit on 17th March. (I may be their first FD customer under the scheme). The employee at the desk took almost 45 minuets to scrutinize the application. Thereafter checked the Xerox copies with original about my address and age proof word by word. Still not satisfied with Xerox copy provided by me, he took another Xerox from their machine. My account option was ‘either or survivor’ but he insisted that both of us sign the Nil nomination form which is not at all mandatory.
My cheque was lodged with them on 17th March drawn on other bank for issuance of FD but the bank presented this cheque to my other bank for encashment only on 23rd March (After 7 days) and FDR issued on 24th March with value date as 23rd March. This FD was delivered to me after 16 days after reminding the branch.
When I took up the matter with ICICI Bank customer care centre, they informed me that “As I was not holding any ICICI bank a/c, the new a/c opening has a processing time of 4 working days”. Readers can observe that the bank was withholding the cheque for full 7 days. Going by their own rule of processing time, the value date should have been 21st March and not 23rd March!
I leave the matter here for the readers to judge for themselves as to how far for the bank is efficient. Needless to mention, in a similar situation one can get the FD issued in 3 clear days time by any nationalised bank without any hurdles.
(Please also read the part-I, previous blog post)
I had similar experience with respect to credit card with this bank. I was put penalty even after I had made the payment on time. This continued for at least for 6 months before it got resolved.
ReplyDeleteHi Ayyangar,
ReplyDeleteWe're sorry to know about your experience. Please email us your contact details at care@icicibank.com. We will be glad to be of assistance. Please mention 'UID 447577 'in the subject line.
Regards,
ICICI Bank Customer Service Team.
IT IS THE BANK AT FAULT IT IS THEIR DUTY TO ISSUE THE FD FROM THE DATE OF ISSUE OF CHEQUE , IT IS THE FAULT OF THE BANK KEEPING CHEQUE FOR 7DAYS WITH THEM AND SENT FOR COLLECTION , IT IS AFTER REALISAATION OF PROCEEDS OF CEQUE THEY HAVE COLLECTED ON 24TH , SO REQUEST YOU CLAIM INTEREST FROM THE DATE OF ISSUE , FURTHER IT IS THE DUTY OF THE ICICI BANK TO INFROM YOU THEY DO NOT ACCEPT FD UNLESS YOU OPEN ACCOUNT WITH THEM SO ASK THE BANK TO PAY INTEREST FROM THE DATE OF CEHQUE.
ReplyDeletePEDDADA RAMA MALLESWARA RAO