The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

ICICI Bank - Pune (Bund Garden Branch) / scamming usa nri customers!

1 India Review updated:

I visited the Bund Garden branch, of the ICICI Bank in Pune to open an account as an NRI needing a Credit Card. The information that is given is only half true and you only discover this after you have parted with your hard earned dollars.

You lose about 8% in the exchange rate as soon as you open the account, considering the best they can offer is about 5.33% per year you have already lost 1 1/2 years interest in a couple of seconds. The minimum amount to open the account is $400. Then you find out that you as an NRI from USA (other country NRI's are exempt)can only invest your account money in Mutual Funds of their choice, with a recurring deposit of Rs.100,000(about $2500)per year for 3 years. You have no say in the matter if their Mutual Fund goes South and you begin losing your Principal, you would still be forced to keep paying $2500 per year for 2 more years. THERE BROCHURE DOES NOT MENTION THIS FACT AT ALL AND IS FRAUDULENT AND MISREPRESENTATIVE OF THE TRUTH. They should be sued on just this point alone.

They have yet another clever scheme/scam where you are led to believe that the funds in the above account can be put in a "Special" High Interest (8.5%)earning vehicle only to learn that you would have to add another $9600 to the above account to avail of this scam (always losing a "measly" 8% in the exchange rate of course).

Now, after all this as if this is not enough already, to get a Credit Card you have to open another Fixed Deposit (CD) account with a minimum balance of Rs.100,000. Within 5 minutes of learning the facts I asked that my application for opening the account be canceled and that my amount be returned to me. NO WAY JOSE!! You are now the victim of the ICICI System. You will now have to wait a week so that the account can be ACTIVATED before you can DE-ACTIVATE it.

Can you believe this cr*p!!

NRIs in the USA you don't know how good you have it in the US. The service here SUCKS!! and the ###s who run this business here try to make you feel that they are doing you, the CUSTOMER, a favor. Things have not improved here in this part of the world no matter what they say in the News. This attitude, the bureaucracy and red tape along with the corruption will keep India in a rut long after all the other developing countries in Asia have left us in their dust.



The officers(?) who subjected me to this unforgettable experience were Ms.Arti and one other who gave me a card bearing the name Yatin Gupta, Branch Manager.

Sort by: UpDate | Rating


  • Ab
      21st of Mar, 2008
    0 Votes

    I have taken personal loan from ICICI bank in Nov 2006. Could you please provide me my personal loan account number and other details.

    Thanks in advance.

    Warm Regards,

  • Yo
      26th of Mar, 2008
    +1 Votes

    Yesterday, I have credited Rs. 5000/- in the account of Mr. Satish Lengare A/C No. 000501506065 via quick money transfer desk in bund garden, Pune branch office. It wasn't credited to his account till 08:00 Am today. Please let us know the status whether it has been deposited in account or not and why it has been delayed.

  • Sh
      25th of Apr, 2008
    0 Votes

    sir, my account number in ur branch 000501532105--saving acount,
    now i in saudi arabia, in jeddha, i like to know how much balnce in my account in present status,
    pls send the balance amount to my mail id, ( it wil be help me to have contact with u now and in future

    thanking you
    with regards

  • Ma
      1st of May, 2008
    0 Votes

    give me summery of A/C balance please call me

  • Ja
      12th of Jun, 2008
    0 Votes

    i have been asked to pay for the transaction of the bill of huge amount Rs.9670 which i have not made. It has been told to me that it has been payed through my credit card which i have never used till date.

  • Sa
      5th of Jul, 2008
    0 Votes

    since two months i did not get the statement of transactions. I am regularly sending or transfering the money to icici bank account in india but i did not receive statements.i had received security alert notice about netbanking but i have not operated netbanking yet.please let me knowwhat is the reason that the bank is not sending the statements.

  • Go
      27th of Aug, 2008
    0 Votes


    This is shankar g j, A/C NO 624001519135, Sivajinager Br., but for online Transfer i am not getting the location in website, wether it is shifted ?, pls send me the Addres


  • Ab
      14th of Sep, 2009
    0 Votes

    I would suggest ICICI to either start taking action on the complaints mention above or close this service. Further Mr. Branch Manager, I would be better if you resign from your post and join some small co-operative bank. you are not worth being part of such a reputed bank of India. Mr. Manager, please go and learn some better banking, and please stop talking in future tense. Groom your team with more fundamental banking concept than camouflaging. Teach them banking and not cheating. Your team should available with all the updates. Please respect your customer.
    It is easy to make a customer, it is even more easy to loose your customer, but please note it is very hard to maintain your customer. Try maintaining your customer.
    All the best.

  • As
      14th of Nov, 2009
    0 Votes

    I am ICICI bank credit card holder. Because of some problems i was not able to pay my dues and due to which the bank blocked my money from my savings account, later on i made the payment by cash, and still that blocked money was deducted from my account, now for the return of the money i have called four times to the customer care service number 9890476000,
    1st reply was call in the evening server is down.
    2nd reply was call after 1hour server is down.
    3rd reply was call in the daytime because the technical support team works in daytime.
    4th reply was call on monday server is still down.
    Well i m just waiting for my PF to come in my account, after that i will break all the connections with ICICI bank...

  • Ra
      9th of Dec, 2009
    -1 Votes

    Rajendra Vithal Panhalkar
    S. No. 42/1, P. No. 26B,
    Kargil Soc, Warjemalwadi,
    N.D.A. Road,
    Pune 411 052.
    Date : 8. 12. 2009



    SUB : - About ECS payment.

    Dear Manager,

    I have a salary A/C in ICICI Bank, Bund Garden road Branch. My A/C No. is 000501521204. In this A/C every 5th of month Rs.14359/- debited to CitiFinancial bank through ECS. On 30th Nov. 2009 I have closed my CitiFinancial loan A/C No.15568782. So that I had already given letter to ICICI BANK Kothrud branch, Pune for stop ECS. But 5th Dec. 2009 Rs. 276/- debited from my A/c for ECS return charges. Please waived this charges, otherwise I will go to consumer court.

    Kindly do the needful.

    Thanking you

    Rajendra V. Panhalkar.

    M. No. 9822662136

Post your comment