{"id":5,"date":"2004-05-22T00:40:25","date_gmt":"2004-05-22T06:10:25","guid":{"rendered":"\/?p=5"},"modified":"2016-04-26T09:20:01","modified_gmt":"2016-04-26T14:50:01","slug":"icici-bank-the-bank-that-sucks","status":"publish","type":"post","link":"http:\/\/www.arjarapu.com\/wordpress\/2004\/05\/icici-bank-the-bank-that-sucks\/","title":{"rendered":"ICICI Bank sucks!"},"content":{"rendered":"<p>You got everything to loose, if you use any of the service offered by ICICI bank. ICICI bank claim&#8217;s themselves as <ins>second largest bank in India <\/ins>and people knows it. But most of you don&#8217;t know that <ins>they are second to none in cheating<\/ins> the customers who use their services<\/p>\n<p>\tWhat you have to do when the bank that initiated the money transfer cheats? Well the only way as I see is to let your lawyer handle the situation and <ins>propagate to everyone that ICICI bank does suck<\/ins>. The latter part is what I would be doing right now. By doing so, at least we could save people like me being cheated by their services. <!--more--><\/p>\n<p>\tSimply to brief up, I have initiated the money transfer from NJ, USA. ICICI claims that money transfer is completed from their end. Had the transaction had completed as they claim; my parents should have been able to use that amount in right time.  But this didn&#8217;t happen. ICICI bank says their part is done, check with my bank account. It has been more than 30 days from the day I initiated the transfer but no results yet. This kind of cheating with the customers is possible with one and only one bank, none other than ICICI bank. So guys this is what has happened with ICICI Bank (that sucks) and me word-to-word in detail.<\/p>\n<p>\tI used to mail personal checks for my parents in India, on day I am came to know that there is wonderful money transfer service offered by ICICI Bank, who proclaims themselves as India&#8217;s Second-Largest Bank. The key features of this service are<\/p>\n<ul>\n<li>FREE Money transfers into an ICICI Bank account <\/li>\n<li>FREE Demand Drafts above $ 1000 or equivalent issued over 1250 locations<\/li>\n<li>BEST exchange rates <\/li>\n<li>Online tracking of the status of the funds <\/li>\n<li>Direct Credit Facility to non &#8211; ICICI Bank accounts <\/li>\n<\/ul>\n<p>\tOh yeah! Looks like great package huh? That&#8217;s what I thought too! and contacted ICICI bank for details. The Customer Service Representative (<ins>CS Rep<\/ins>) said that I need to register online, and after some verification I can make the money transfer and it&#8217;s as simple as that. Even more the great feature offered was, I can initiate transactions through online without lifting my pen. I thought wow&#8230; hereafter I need not write checks or go to SBI, NY to make the wired transfer.<\/p>\n<p>\tOn one fine day, <ins>April 22 2004<\/ins>, I have initiated a money transfer of my dad&#8217;s bank account. After waiting for couple of days, <ins>April 28 2004<\/ins>, I got mail from The Money2India Team, stating, &#8220;Money sent to Beneficiary bank&#8221;. Thought &#8220;Cool! Money reached home.&#8221; I made my mind to go with their service forever but withheld that thought when I came to know that no money received was on the other end. Oops &#8230; What&#8217;s wrong?<\/p>\n<p>\tImmediately logged into the ICICI bank money transfer service online account to refer to their so called &#8220;Online tracking of the status&#8221; &#8211; which states that Money was sent to Bank A\/c and rest of my bank account details. Waited for couple more days thinking that money may be in transit between their bank and my dad&#8217;s bank. The fact is <ins>it&#8217;s still hanging out somewhere and nobody could track it till date <\/ins>(even after 30 days of time).<\/p>\n<p>\tAfter contacting the ICICI bank&#8217;s customer service about the transaction, I got mail from CS Rep on May 05 2004, that they made a note of my query and would get back to me with details. In fact they did come back to me with details, stating &#8211; <ins>&#8220;The Fund Transfer is successfully and credited to Beneficiary Bank blah blah&#8230;. transaction no #####.  Please check the same with Beneficiary Bank&#8221;<\/ins><\/p>\n<p>\tHad the transaction is successful the amount should have been in the account. I made money transfer (<strong>NOT ICICI bank<\/strong>) in the second week of Jan 2004 using the same details that I used for transaction with ICICI bank. It was successful and money has reached home within 3 business days. So, if ICICI has processed the details correctly <strong>there is no way that amount will misplace <\/strong>somewhere. Therefore I asked ICICI bank CS. Rep for details of transaction and Beneficiary Bank to which they have credited.<\/p>\n<p>\tOn <ins>May 10<\/ins>, I got a stupid reply from ICICI bank CS Rep stating &#8211; &#8220;Go to track your remittance link and find details over there&#8221;, (with an link in email that didn&#8217;t work.) This text is followed by same text that I got in mail dated <ins>May 05<\/ins>, <ins>&#8220;The Fund Transfer is successfully and credited to Beneficiary Bank blah blah&#8230;. transaction no #####.  Please check the same with Beneficiary Bank&#8221;<\/ins><br \/>\n\tThought that contacting through email is taking hell a lot of time. And so contacted their toll free number, 1-800-ICICI4U after a day. A CS Rep has lifted the phone and did his prepared talk &#8230; <ins>Welcome to blah blah&#8230;. how can I help you?<\/ins><\/p>\n<p>\tI started &#8211; &#8220;Few days back I have initiated a money transfer service with ICICI bank and I got the transaction # with which you may track the details&#8230;&#8221; was paused by ICICI bank&#8217;s CS Rep. He said, <ins>&#8220;Before you further proceed can I have you First Name, Last Name, Email Address, Phone# etc&#8221;. <\/ins>Gave those details as per his request and completed my enquiry. After a while he said the system says &#8211; &#8220;<ins>The Fund Transfer is successfully and credited to Beneficiary Bank blah blah&#8230;. transaction no #####.  Please check the same with Beneficiary Bank&#8221;<\/ins>. So please do so. I could do nothing but to hang-up the phone and rang my parents in India.<\/p>\n<p>\tAfter confirmed with my dad, I called ICICI bank&#8217;s toll free number again to find out what ICICI bank have been doing regarding the <strong>money transfer that ended up nowhere<\/strong>. A Female CS Rep answered me and stated her welcome message. I started the enquiry about the transaction that I made &#8230; and was paused by her and asked &#8211; <ins>&#8220;Can I have you First Name, Last Name, Email Address, Phone# etc&#8221;. <\/ins>Gave those details as per her request. Then I restated my enquiry and stressed that &#8220;I don&#8217;t want that money to lose, so the faster you process the enquiry the safe my money would be&#8221;. She said that &#8211; <ins>&#8220;money will go nowhere, it should be in your beneficiary account. Now that you have already filed an enquiry please wait for couple more days to let ICICI bank&#8217;s CS. Rep&#8217;s get back to you&#8221;.<\/ins> <\/p>\n<p>\tI also explained her that the <ins>situation is tight and money need to be made available at the earliest <\/ins>and <strong>treat this as very urgent <\/strong>as I am already running late. CS Rep said she has noted the query and would get back to me soon. <\/p>\n<p>\tOn the same day I got reply from ICICI bank that &#8211; <ins>&#8220;it takes 3 working days&#8221;<\/ins> to get back to me. Fuck them,<ins> 3 days &#8211; even after stating it&#8217;s really urgent<\/ins>. Is this how ICICI bank takes care of customers, whose transaction is not yet complete and requirement of money back there in India is really very urgent?<\/p>\n<p>\tSo I made another transaction through SBI, NY who transferred money within 2 business days. <ins>Thanks for SBI for transferring the money in right time.<\/ins><\/p>\n<p>\tWaited for couple more days and requested my parents to figure out the details from the SBI bank. Got information from beneficiary bankers &#8211; we haven&#8217;t received any of the transactions to the bank account.<\/p>\n<p>\tLater after couple of days, I got reply from ICICI bank stating the same fucking bullshit &#8211; &#8220;<ins>The Fund Transfer is successfully and credited to Beneficiary Bank blah blah&#8230;. transaction no #####.  Please check the same with Beneficiary Bank&#8221;.<\/ins> Goddamn it. What&#8217;s with these people? Are these guys nuts? I really don&#8217;t know what&#8217;s going on in their minds. <strong>ICICI bank mailed the same shit for 4 times even after 10 days of processing.<\/strong> <strong>God knows what processing ICICI bank has done to figure out where the money is.<\/strong><br \/>\n\tI called ICICI bank&#8217;s toll free number again. This time, a male CS. Rep claims himself XXXXXX, lifted the phone and stated his welcome message. Then I started the enquiry, &#8220;what&#8217;s with the transaction&#8221;. I was paused by him and asked <ins>&#8220;Can I have you First Name, Last Name, Email Address, Phone# etc&#8221;<\/ins>. <strong>I am so sicken tired of their fucking service. <\/strong>Every time I ring them up ICICI bank&#8217;s CS Rep listen to you only when one gives your First Name, Last Name, Email Address, Phone# etc. Whenever I mail the ICICI bank&#8217;s CS officers they say same shit &#8211; &#8220;The Fund Transfer is successfully and credited to Beneficiary Bank blah blah&#8230;. transaction no #####.  Please check the same with Beneficiary Bank&#8221;.<\/p>\n<p>\tI was so pissed-off on ICICI bank and their service and decided not to go with them in the near future. But in order to proceed I got no other option but to give ICICI bank&#8217;s CS Rep my personal details. Well continued again &#8211; &#8220;where is my money?&#8221; The ICICI bank CS Rep said, &#8220;<ins>The money should be in bank account in back in India. Our system&#8217;s say that the fund transfer is successfully completed. Please check &#8230; &#8220;<\/ins> (the same shit). I got all fired up; Doesn&#8217;t ICICI bank understand or care for the money that I have transferred using their fucking service? I replied the ICICI bank CS Rep that &#8220;<em>ICICI bank might consider the transaction is complete if they successfully transferred amount to RBI (the intermediary bank). But who cares? As far as I am concerned, I consider the transaction is complete only if the amount is reflected in my bank account<\/em>&#8220;. What do say guys?<strong> I am right or wrong<\/strong>? I consider the transaction is complete only if the amount is reflected in my bank account. <\/p>\n<p>\tTo piss me off more, this ICICI bank CS Rep is so rude and started against me, &#8220;<em>confirm with your people in India. Your parent might not have confirmed as they claim. Etc<\/em>&#8220;. Guys, you know what? <strong><ins>This ICICI bank CS Rep is the most disgraceful Customer Service Representative that I have ever come across in my life.<\/ins><\/strong><br \/>\n\tFinally I have requested ICICI bank to return my money back. After couple of days on May 16, I got mail from ICICI bank in reply to my request to have money back into my personal bank account in USA &#8211; <ins>&#8220;&#8230; It&#8217;s an electronic mode of remittance, we would be unable to send the funds back to your US bank account.&#8221; <\/ins>ICICI bank can pull the money from my bank, but ICICI bank can&#8217;t put the money back? What the &#8230; fuck? <strong>This clearly pictures what ICICI bank is capable of?<\/strong> They are here <ins>to suck the money out of pockets<\/ins>, but can&#8217; track what&#8217;s going on. <strong>That&#8217;s way I called ICICI bank the bank that sucks.<\/strong><br \/>\n\tNot only that, this time ICICI bank <ins>wanted my beneficiary bank can get in touch with the RBI <\/ins>(the intermediary bank) and follow up with them. See guys, until now my dad went from SBI bank and to nearest ICICI bank to &#038; forth, to confirm what ICICI bank wanted us to. Now that ICICI bank wants us to contact RBI to figure out where the heck the money has gone, <strong>what the fuck ICICI bank is there for? <\/strong>If it can&#8217;t track beyond ICICI bank&#8217;s boundary why does it offer this stupid service?\t<\/p>\n<p>  \tFor my final mail to ICICI bank, requesting the legal in charge of ICICI bank if they still can&#8217;t figure out what&#8217;s with the transaction, they responded on May 18 with completely irrelevant message to the question I posed. In fact it&#8217;s the same shit that they have been repeating all these 30 days &#8211; &#8220;<ins>The Fund Transfer is successfully and credited to Beneficiary Bank blah blah&#8230;. transaction no #####.  Please check the same with Beneficiary Bank&#8221;. <\/ins>Jesus Christ! For god&#8217;s sake cut this crap.<\/p>\n<p>  \t<ins>Is this what one expects from so-called India&#8217;s second largest bank &#8211; ICICI bank?<\/ins> And the most ridiculous thing is ICICI bank sent a mail with subject &#8211; &#8220;<ins>Refer &#8216;n&#8217; Win Contest from ICICI Bank<\/ins>!&#8221; &#8211; From <ins>Gopakumar P, Head &#8211; NRI Business<\/ins>. What in the hell made them think that I would refer my friends to win their stupid sweepstakes despite all these mental tensions regarding the money transactions? <\/p>\n<p>  \tAs a final attempt, I chatted with ICIC bank&#8217;s CS Rep, claims himself Allwyn, during my office hours regarding the contact information of their head Gopakumar P. I told him that it&#8217;s good for him and ICICI bank as well if he can help me to give the contact information regarding some legal issue. After a long wait he replied &#8211; <strong>&#8220;we do not have the piece of information that you require&#8221;. <\/strong>Fuck them, <ins>these ICICI CS Rep&#8217;s don&#8217;t know \/ have the information of who their boss is and what&#8217;s his contact information<\/ins>? He also suggested &#8211; &#8220;<ins>I would request you to write to nri@icicibank.com<\/ins>&#8221; &#8211; <strong>the same fucking email address to which I have been contacting over a month.<\/strong>\t<\/p>\n<p>  \tICICI bank doesn&#8217;t want to clear this issue. <ins>In fact ICICI bank ayn&#8217;t got any system to track beyond their boundaries.<\/ins> So I don&#8217;t think that they are going to resolve this any soon, unless I give a legal notice from my lawyer. Trust me this is going to be my very next step. Despite doing everything as ICICI bank suggested, our efforts are in vain. <strong>We were left with nothing but mental tensions, which has greatly disturbed our daily schedule all these days.<\/strong><br \/>\n  \tThis blog was written not only to explain how I lost money with ICICI bank&#8217;s stupid money transfer service but also to explain how ICICI bank&#8217;s services sucks. I won&#8217;t give a damn to what ever they offer to make me refer somebody. I promise you guys, <strong>none <\/strong>of my colleagues, friends and family members are going to use any of the ICICI bank&#8217;s services, as they have been constantly updated by me about the ICICI bank and their services for me. I am damn sure that who so ever would go through this blog would never go with ICICI bank. <\/p>\n<p>  \tFinally being an active executive member of Sanskar, The Indian association for New Jersey Institute of Technology &#038; State University of Rutgers, Newark, New Jersey; I don&#8217;t think it&#8217;s as difficult as one can think of distributing this invaluable information to thousands of Indian students and alumni. Using the mailing list service, with a click of button, I am going to reach all of these friends, <ins>who might use ICICI bank service, if they are unaware of what has happened to me.<\/ins><\/p>\n<p>  \tAs everyone knows, it does take hell a lot of time to know good about somebody, but on the other hand all the negative information spreads within split of a second. In whatever way you see from the view of customers or competitors, the latter part is not good for any company. So friends, <strong>I strongly recommend <ins>NOT <\/ins>to use<\/strong> any of the services provided by <ins>ICICI bank, it really sucks<\/ins>.<\/p>\n<p>Shyam Arjarapu<\/p>\n<p>EDIT:- Approximately after 2.5 months, the amount was credited into my dad&#8217;s account. 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ICICI bank claim&#8217;s themselves as second largest bank in India and people knows it. But most of you don&#8217;t know that they are second &hellip; <a href=\"http:\/\/www.arjarapu.com\/wordpress\/2004\/05\/icici-bank-the-bank-that-sucks\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/posts\/5"}],"collection":[{"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/comments?post=5"}],"version-history":[{"count":1,"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/posts\/5\/revisions"}],"predecessor-version":[{"id":292,"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/posts\/5\/revisions\/292"}],"wp:attachment":[{"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/media?parent=5"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/categories?post=5"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.arjarapu.com\/wordpress\/wp-json\/wp\/v2\/tags?post=5"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}