I am an ICICI Direct customer and sell/buy mutual funds using my online ICICI Direct account. Recently I received a hard copy of the statement from one of the fund houses I had invested in using ICICI Direct which had incorrect bank details. When I wrote to fund house help desk, they informed me that incorrect information had been provided to them by ICICI Direct and they could not amend their records based on my complaint.

I have been following up with ICICI Direct for 3 months on this (since 11th April 2010). I have approached the helpdesk as well as the ICICI Direct branch here in Pune and provided them with all necessary documents but have not heard from them till date. At the moment I do not know who else to escalate the issue to.

Request you all investors to beware if such investment options especially when ICICI Direct has such poor customer support. There is absolutely no way to know what details ICICI Direct provides to the fund houses. It was a mere chance that I received a statement owing to which I came to know of the folly.

Demat Account number : IN302902-41481616‏
From: NAVIN SAHNI ([email protected])
Sent: 11 November 2009 14:58PM
To: [email protected]
Cc: [email protected]
Folks really disappointing service.

1) you guys lost/damaged the original documents
2) kept asking for the guy to come over and pick up the documents but no one came
3) had to locate your gurgaon branch and give my papers

Now after giving my papers my account was opened up till now.
Why has this been closed after your guys have collected the papers.

I need to sell my shares .. so hope you will make good my losses if my account is not functioning by tomorrow.

I expect as a customer 2-3 things

1) call back tomorrow
2) A/c opened in 24 hrs ( if you guys have misplaced my dox again you are not fit to do business with and i want a full refund of all service charges if you have charged me during this whole shaky relationship of ours)


This mail will get esclated to the CEO in the next 3 days if this is not taken care of with a nice column in a leading newspaper so all consumers are aware of your great service standards and robust processes.


no revert from them yest!!! can some one help !!!pls

I had a Dmat account with ICICI, But the bank missed my joying documents, and disabled this account. As I no longer want to use this account I did not bother about the account being disabled. However they are charging the fees for this disabled account without any prior notice. The money is automatically getting detected from my bank account. I want them to refund the fees they charged for a disabled account

I have been dealing with ICICIdirect.com for trading and have seen that the words that best describe their services, level of patience with clients is "ICICI SUCKS". Thrice during my early trading days i.e., early 2006, I had been oriented in online trading by icicidirect people, but these trainers were behaving as if they are obliging me and the fellow traders. What they do not know is that they get their salaries owing to traders like me...

They charge hefty brokerages and keep sending stupid statements with unheard of charges. In fact, it is much better to deal with new companies like reliance money or indiainfoline who at least have a reputation to defend and are always forthright.

Dear Sir / Madam

This is my third mail to your department for unlocking of my account but in the last 48 Hours not a single communication has been done from the bank with me regarding the below mentioned pending issue.

This has reference to the Locking of my Demat (Equity) Account No. IN302679-30606105 which I am holding in ICICI bank since Year 2002. At the moment I am holding good amount of shares which has been locked because of the non submission of form which were destroyed due to floods in year 2005. I have already given time twice (May 2007 & August 2007) to your department for fulfillment of the forms but the guys never turned up at my place on the given date and time for the forms to be filled. I am not an free person sitting all the time at home, to be waiting for your guys to turn up to fulfill the requirement which was caused due to your companies negligence by not storing the forms properly.

Upon contacting your customer care, they told me that until and unless I dont submit the form the account cant be reopened. Now that I am out of town and planning to go out of country in the next few days theres no way that I can fullfillment that requirement. Although there is no mistake on my part and even after giving appointment twice to your Bank if the people dont turn up then theres no way that ICICI Bank holds the authority to Lock my account because of the Banks fault.

Your nearest Branch from my place at the moment is 50 around KMts. and thats the worst Branch (Vallabh Vidya Nagar) in the whole of India as far as banking is concerned. No sitting arrangement, no proper answers to the queries, Unlimited waiting period, Officers chitchatting instead of solving customers grievences & problems, Hanging on the phones most of the times.

Hence I would like to request you to look into the matter as soon as possible or else finally unwantingly I would then have to take up the matter with the higher authorities and with Banking and SEBI regulatory boards.

Thanking You

Patel Kalpesh J