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ICIci_loser
August 26, 2009
Misleading Exchange rate posted on their websites
I sent across USD10k using their power transfer service recently. At the time of money getting despoited to the receivers account, I got a mail from money2india saying money has been sent to receivers bank (which is again ICICI Bank in India). I checked the exchange rate on their website at that time and I was taken by a surprise when I noticed that there was a difference of 60ps/1USD actually posted to receivers account. I immiediately called them up on their 1-800 number and they informed me that whatever they show on their website is just indicative exchange rate and the actual rate is not available on their website. I lost almost Rs6000 in just one transaction. I do sent remittances through www.onlinesbi.com/glsus and what they show on their website is what they pay you. ICICI again proved that they can play around with cusotmers using their Marketing verbiage tactics. I would never ever use their service again.
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March 18, 2007
Lying and cheating customers!
The way this bank treats customers is very bad. I used ICICI to send money to India. Here is my experience.
I initiated transfer of money to India via power transfered method on March12 2007. ICICI Bank account was credited on March 13th 2007. From ICICI it should go to Beneficiary account in HDFC Bank, Hyderabad. Contact ICICI on March 16 and again on March 17. Got the reply that money has been sent to HDFC Electronically. I asked the bank, how is it possible that money sent electronically takes more than 3-4 business days?
got the most disgusting reply blaming RBI. Money sent to HDFC via RBI and RBI takes less than a day for some banks and up to 7 business days for other banks like HDFC.
then i said, give me the tracking number so that i can track money from HDFC side. for which, ICICI said, there is no tracking number. How is it possible that money transferred without any reference number or Tracking Number (UTR)?
Following is from ICICI Bank website FAQ Section:
(http://www.icicibank.com/pfsuser/icicibank/ibank-nri/nrinewversion/faq_nri.htm#10)
10. How will I know that the money has been sent to my beneficiary's bank A/c?
Ans: We will send you an email when we send the money to your beneficiary's bank. The credit to your beneficiary's a/c should happen within 1 day of us sending the funds. We will also update the status of the transaction on Money2India.
This also confirms that ICICI did not send money to beneficiary account and lying about it all the time.
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