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ICICI bank playing games

Discussion in 'Money Matters' started by Abha, Jul 9, 2007.

  1. Abha

    Abha Bronze IL'ite

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    Hi everyone

    We use money2 india for money transfer, once in a while. last to last week, we had to end some money to in-laws in india, and we put a request in money2 india. generally they hold money for maximum 5-6 days and then transfer, but this time they held up money for 10-11 days... and transferred the money when the rate was at its lowest... it seems they are doing this all the time, are these the fair practices, which they are supposed to follow...

    can someone guide me about the best way to transfer money, as this time we had to bear a lot of loss, but it was urgent so its okeyy, but if it happens all the time, i mean they literally held up the money for a longer time waiting the rate to fall even more...
     
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  2. Malathijagan

    Malathijagan Silver IL'ite

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    Can't you sue the bank for that?
     
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  3. Abha

    Abha Bronze IL'ite

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    yaa Malathi, why not ??? I wish we cud... they make a fool out of us, and we cant do anything about it, they say that we always mention that it takes 5-7 days, sat sun not included and holidays not included, also the day money is transferred, the rate of that day is given...

    we are the ones losing money and they only gain by holding money for these many days...

    ~Abha
     
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  4. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Hi,
    We are also experiencing some problems with ICICI, they are not friendly, the system is not functioning properly, their website is a such a useless tool.
    We wanted to send transfer money to my brother's account, but the ATM card was expired, so we requested them to send the ATM card. They said, it would take 9days. But they reset the transaction password itself that we are not able to login into the account, the ATM card hasn't arrived nor the transacation password. So our account is hanging in the air. We are call them, they say call up this # during INida working hours, we are awake in middle of night here and calling, they direct us to some different department and not getting required information. Online help is just a nightmare!!.
    Totally we are frustruated with this ICICI bank.

    ~Punitha
     
  5. Abha

    Abha Bronze IL'ite

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    I can understand what ur goin thru Punitha...

    the website is just horrible... even with the correct password it doesnt open the account sometime, probably the system is not in mood or i dont know what...overall the website is too slow...

    so do u use ICICI to tranfer money to india, or there is any other method too that u r using ??
     
  6. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Hello Abha,
    We do have citibank NRI services, this is also same as ICICI.
    At citibank always the exchange rate is little less compared to ICICI.
    I ended up writing a check to my father and fedexing last week.

    ~Punitha
     
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  7. Abha

    Abha Bronze IL'ite

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    Ohh ok. that was a good idea.

    HDFC gives a good rate, whereas HDFC is too strict and has a lot of rules and regulations, once the money is in HDFC account, it is very difficult to transfer it anywhere else, cos they dont let you add any new person's account until and unless you speak to them on your own, which is the most difficult part while we are here in US... on the other hand ICICI is too lenient in everything...

    we are practically filling up bank's pockets in this whole money transfer process...
     
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  8. Nivedi

    Nivedi New IL'ite

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    Hi friends,

    The problem with banks like ICICI is that they have grown far beyond what they expected themselves and so they simply do'nt care about providing good service. When I wanted to open an account with them, one of their Direct Sales Agent was assigned to speak to me from India and the lady was speaking as if she was holding a knife around my neck. Everytime she called to speak, her favourite dialogue was - "If you do not send the papers to me, nobody can help you in this bank". In some way she was accepting the incompetance of her own colleagues. They have very impolite staff who are hardly conversant with the rules.

    SBI seems fine to me till now. They have offices in Washington DC, Chicago and NY. And their staff are efficient.
     
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  9. Abha

    Abha Bronze IL'ite

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    yaa Niveedi that is cos ICICI bank opens account for anyone and everyone, irrespective of their background, however SBI is too particular... even if their own customer introduces a new person, they refuse upfront... straitaway that they will not open an account... you visit any of their branches these days, and ask them to open a savings account and they refuse just like that... they are very particular these days...

    that is the reaason that ICICI has become so huge that they cant manage themselves...
     
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  10. shashwathi

    shashwathi New IL'ite

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    Western Union
    But if you have to do this often open an account with a nationalized bank-easy job-very easy today-not the big players like ICICI
     
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