ICICI bank- Demat account Complaint - ICICI Bank- Demat a/c - Most Horrible service ever received-Would never recomend to anyone.

Review by Sethi on 2010-04-27
NASIK ROAD, MASSACHUSETTS -- I had applied for demat NRI account in Aug09. I had given all the needed paperwork but till Dec 09 i.e. after 5 months didn't get any sort of correspondence from them. In Dec they woke up and asked for more forms to be filled up. That too was sent but till date 27 Apr 2010 i.e. after 8 months there is no email from them. I have sent a email of complain to the branch manager of Nasik in March but still haven't got any reply. Worst bank I have ever known. Highly Incompetent staff. The approach is of laziness. I would never recommend anybody to go with this 'HIGHLY UNPROFESSIONAL' BANK CALLED ICICI BANK.
Comments:2 Replies - Latest reply on 2012-07-02
Posted by Alain on 2010-04-27:
A web site like nribanks.com might be of help in finding another, more responsive banker.
Posted by VSR74 on 2012-07-02:
ICICI bank is a scam. Its total fraud bank.
They steal your money. Thats what their main business. Banking is just a cover up. Actual business is funding fraudulent people, laundering the money to illegal activities, funding .terrorist activities etc.
Do you know ICICI spends 25% of their revenue on marketing and ads. They hire expensive movie actors like sharuk Khan to promote their bank, they have links with underworld activists and mafia .
Customer service people are hopeless and don’t even understand what we are talking. They just keep some paper in front of them read it, no matter what is your question. They spend least money for banking activities and use the rest for illegal activities.
I did a large mount of money transfer to my business account in India, I had to pay my employees in India in a weeks time. They sent me an email after 3 days saying money was deposited in the account, and assumed that everything went fine. On the payroll day everything started bouncing. when I checked the account there is no money. When I call the customer service they said, send an email to nri@icicibank.com. I sent an email, did not hear anything from them for 20 days. After 20 days some moron calls me and tells me there was some name mismatch. If there is a name mismatch and money is not deposited, how did they send an email saying its money was deposited.
I asked them to return the money to my bank in USA, they did not respond for another week, then they sent me another email saying they cannot refund to US $ as the money was already converted to Rupees. They don’t want to deposit the money in Indian bank as there is name mismatch, they don’t want to refund the money. They don’t have any solution for this problem. I had to fight with them for another month. They finally deposited the money in India branch.
I had very bad time with my company employees, I had loose some employees because of this. I am almost at the verge of closing my business.
I am sure they must have used my money for some illegal activity or terrorist activities for 2 months. There has been lot of talk among people about their money laundering activities.
RBI should get involved and investigate these fraud companies and hang the owners to death. I am sure one all the scam will come out, people holding huge deposits in the bank will loose their money.

Guys, Think twice before opening an account with ICICI. Be careful, don’t fall for their marketing talk.
Take your money and close your accounts before you loose it.
Especially don't open NRI account with them, $ is a good source for them to perform illegal activities, if you transfer money from outside country to India though ICICI, you could be finding an illegal activity indirectly.

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