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ICICI Bank review: money2india: read this before you use the service! 84

K
Author of the review
12:00 am EDT
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I think everyone who is using or planning to use money2india service and the people responsible for running/ensuring service for this organization should read this.

I issued a check for an amount of GBP 1500 on 12 sep 07 from my Barclay's bank, Gibraltar to have the funds transferred to my bank account in india. The tracking number is M2L60306729. Everything worked well, funds were credited within a weeks time and amount debited from my Barclays bank.

As i was assuming or was under the illusion of icici being one of the professional financial institutions present in india and talking about the same to my friends in europe, they gave me a surprise. Funds withdrawn from my bank account in india on 16 october 2007 ( after almost a month )for an equivalent amount of GBP 1500 with the reason "refer to drawer". When i called up Barclays bank, nobody seems to have a clue. Now to this day, i have called up atleast more than a dozen agents, couple of supervisors and spoken to a manager in hyderabad (wahab ) who doesnt know where the funds are. Ultimately i am loosing GBP 1500 and willing to approach a legal authority in london unless they return the money either to my bank account in Barclay's or credit the funds back to my bank account in india. I have enough proof of the funds taken from barclays bank on 19th sep and no return till date. The document/bank statement updated till 1st oct has been forwarded to these guys on 16th oct.

They have assured to look into my case and asked for 24 hrs ( again, this story started 16th oct). I will keep this complaint updated and would notify everyone reading this forum. Till then i would suggest anyone using this service to make a decision based on my experience.

If i have a resolution soon, i will post my comments.

Thanks,
kamal

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84 comments
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Rameshwar Rai
,
Jan 23, 2008 11:22 pm EST

Sir,

Your problem with ICICI Bank, solved or not, if not, please send your written details to me by email, so that I can advice you, that how you can solve this problem.

Pl treat this most urgent, and as a human being.

Thanks,

Rameshwar Rai

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Alok Neogi
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Apr 24, 2007 1:27 am EDT

I too had an ICICI credit card. They promised me a free insurance cover. Then after settling all the dues january 2006. I cancelled the card, cutting it to pieces and sending to them. But they kept on sending statements. Finally they cancelled the policy but now they chase me to my home to get some payment. They showed me that they have cancelled my policy but not my wife and son who were nominees. Therefore they want to settle the case with Rs. 3500/- instead of 10,415/-. Is this joke? or a process of extracting money like a money lender.

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Mukesh Haridas Dholakiya
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Mar 28, 2007 12:50 am EDT

My father in law had taken home loan from ICICI BANK . One of the clause in the Loan Policy was " WITH THE FINAL DISBURSEMENT OF THIS LOAN FREE PERSONAL ACCIDENTAL INSURANCE COVER will be given to the first applicant of this loan to the extent of Principal Amount. Unfortunately My Father in Law died in an accident.

I log the claim of insurance in ICICI LOMBARD as guided by Official of ICICI BANK.

I have already submitted all documents duly certified and notarized required by the ICICI LOMBARD norms on 27/02/2003, but still settlement of claim is pending. I can't understand the reason of UNUSUAL DELAY IN SETTLEMENT OF CLAIM. I resorted to phone banking service and contacted your call centre but i feel sorry to say that ICICI LOMBARD customer call centre is REALLY USELESS. None contacted me from ICICI LOMBARD customer care.

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Waheeda Dilawar
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Mar 05, 2007 12:08 pm EST

ICICI lombard is nothing but a legal thief!