My Name is Sreekant Sreedharan and I availed a Personal Loan from ICICI Bank two years back. The ECS what I structured while availing the Personal Loan was with my savings account with ABN Amro. Now since I am changing my savings account from ABN Amro to HDFC Bank, I loyally called up ICICI Bank customer care for change of my ECS Structure. The reply what I got from the customer care is that they shall charge Rs. 552/-. I am still unable to understand the reason of implicating this charge.

Can anybody explain me the reason for this?

Regards
Sreekant

Dear Sirs,
Whom to believe when banks like ICICI is diverting your money in their account.
Beware!!! Even the country's one of the biggest banks like ICICI can sweep your money in their account without your knowledge. Unbelievable but it's true.
Suppose you have deposited a cheque in ICICI bank thinking that it would get credited in your account, as you have full faith on your bank. Think twice. That money may not come to your account……in fact it can go directly in a suspense account. You will not be informed even. You will not even find mention of that cheque in your statement as well as in your internet banking portal. Bank has made procedure so cumbersome that you might find it difficult to get that money credited to your account as you cannot do so with your internet banking and also you cannot do so with phone banking.
ICICI Banks justify their action saying that they are keeping public money in their account "AS PER RBI GUIDELINES". How can one believe this.
ICICI bank is fully aware that in this busy modern world people do not have time to go to banks and cheque if the cheque that they have deposited is credited in their account or not hence they have devised this unique method to dupe you of your money.
THE STORY GOES LIKE THIS
"I deposited a two cheques on dated 5/11/2007 in Delhi
1. Cheque No. 416471 for Rs. 23299=00
2. Cheque No. 206991 for Rs 1382=00
The first one of Rs. 23299 got credited in my account but my other cheque i.e. Cheque No. 206991 for Rs. 1382=00 is not yet credited in my account inspite of the fact that I have written so many mails to bank confirming that it's my money. Reason for not crediting the cheque in my account was that my full name was not mentioned in the cheque. Although the cheque was crossed and I was depositing the same to my saving account.
And the most frustrating is the fact that I am not given any information by the bank where my cheque is? Bank is keeping that money without my knowledge. I fail to understand why bank is collecting money like this from the customers. ICICI Gurgaon Branch is notorious for this kind of cheque problems. They keep cheques in suspense account for months together, Thats what I hear about this branch.
I really have to fight with their Operation Manager to get my cheque credited to my account earlier also. Detail of that cheque was as mentioned below;
Cheque No. 315502 Deposited on 12/10/07 for Amount Rs. 140000/-. This amount was also sent to Suspense account and that too without giving any information to me. Reason was very small my name was spelled as "Parveen Kumar Bhardwaj" in place of Praveen Kumar Bhardwaj.
Questions that are yet to be answered by ICICI Bank against various mails that I had written to them are as mentioned below;
1. Why this information that my cheque is sent to suspense account is not passed on to me by ICICI bank? ICICI bank and their call center spend a huge amount of money calling us night and day asking us if we want loan, or insurance or similar kind of services and when it comes to our money going to ICICI bank's suspense account no-one even cared to call me once. Why?
2. Surprisingly this information is not even there on my online personal banking page (internet banking) since bank do not want to tell customers that bank is keeping their money without their knowledge. Bank purposefully want to hide this information so that customer forget to claim there money??
3. Since I may not be the only person whose money has goes in bank's suspense account. There might be thousands of people. No-one can guess how much public money bank is keeping in their suspense account.
4. Why ICICI bank do not want to give this money back to owners even after knowing the full detail of the owners.
5. Why bank has made procedure of claiming this money so complicated and cumbersome. Why one has to go to ICICI branch to claim the money?? Why cann't one claim it filling a form online or through Phone Banking?? When everything could be done online, why this small thing can't be settled online. Anyone can doubt banks intensions on this issue.
6. I am requesting bank to update this information in my statement and internet banking but inspite of so many days ICICI bank has not done this. Becaues do not want to do this as they might be getting lot of money credited in their account under this pretext.
7. I even do not know what bank's policy is if customers forget to claim their money which you might have kept in suspense account. Since people are busy these days and many a times forget to see whether the cheque that they have deposited is credited in their account or not?
8. I have lodged complaints to all levels that is Level IV but now bank is not even replying my mails.
Is there any agency in India who can help me? Or we have no other option but live at the mercy of ICICI bank? I have all the mails kept safely with me that I have received from the bank for my records.
With Kind Regards,
P.K. Bhardwaj
Phone No. +91-99534 90093