I think this ' Introduction ' part is there with all PSU banks but mostly you just need get the signature of the existing account holder's on the application form where specified but I have not heard of Verbally informing the BM!
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ICICI bank worst bank ever ?
- Thread starter kuchrm
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- Replies 36
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- icici icici bank
Batmanbaba
TF Legend
Such an ancient bank.... People are using salary accounts without any salary credit from years.... And enjoying all the perks... And now trying to be so strict in opening a new account
"Quote of the Modern times"😉😂
dvader
TF Ace
I am not endorsing ICICI but if it's not a BSBDA account (or a PSU bank), a bank can reject an account opening request on their own discretion.
99.9% of the time it's always a branch issue. No one in upper management says 'we don't want new accounts', the situation is more like 'we found lapse in processes lets make sure new accounts are opened with multi layer approvals and proper paperwork'.
ICICI's top management is one of the best in banking.
The issue is enforcement. The branch personnel being in the same branch for years will look at the new tedious (which should have been implemented long back ) process and won't appreciate the extra work.
Standards and tighter prcoesses are implemented better with laxed targets. So their targets most prob are still the same but it now requires more time and effort.
Eitherway, just choose another bank for your banking needs. Always better to answer with your wallet.
99.9% of the time it's always a branch issue. No one in upper management says 'we don't want new accounts', the situation is more like 'we found lapse in processes lets make sure new accounts are opened with multi layer approvals and proper paperwork'.
ICICI's top management is one of the best in banking.
The issue is enforcement. The branch personnel being in the same branch for years will look at the new tedious (which should have been implemented long back ) process and won't appreciate the extra work.
Standards and tighter prcoesses are implemented better with laxed targets. So their targets most prob are still the same but it now requires more time and effort.
Eitherway, just choose another bank for your banking needs. Always better to answer with your wallet.
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I reached out to my RM on 8th April 2025 and opened a Family 360 account.
Visited home and completed all the formalities on the same day, and the account was activated yesterday.
Their account opening process has completely changed over the past few years. Earlier, there was no geo-tagging, verifications, etc. But now, they’re strictly verifying everything, just like when applying for a loan or credit card.
Coming to approvals...
This is a recent addition, and they mentioned that approval is now mandatory for issuing any savings or current accounts.
I’ve been using my mother’s account for the past 5 years.
In my opinion, ICICI and HSBC are the only banks with good support and none of the nonsense like changing passwords or juggling multiple PINs—TPIN, MPIN, EPIN, etc. Good UI, swift processes, and truly a no-brainer, like @SSV said—you’ll understand once you start using your account.
Many players have introduced their own security mechanisms for authentication, which sometimes irritates users like me who prefer simple, hassle-free login. Axis Bank recently introduced a mobile OTP system—the worst system ever, in my opinion.
Keep in touch with that BM, your work will get done.
P3T3R_GOA
TF Select
This is the first time I am hearing this. Why would a bank not want to open an account. They don't loose anything as at least your minimum balance is with them.
In this case customers should open accounts in banks that welcome customers. ICICI is behaving like a restaurant which says you need Police Clearance to enter and eat there.
Customers should reject such banks on their own discretion.
HDFC is also pretty good at security but sometimes it can be a pain too.
Very True, A bank should never treat a prospective / existing customer like this. I fully agree with it. A verification method should have been done very subtly. Not in an intrusive way.. especially so in this modern tech-savvy Era. .
💯
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Agree, it is one of the better Indian pvt sector banks with a focus on trying to provide quality banking services by trying different things using technology.. this would not happen without quality top level management
That's entirely the luck of one's draw, depending on the competence of the person, disposition etc. etc.
Once my BM assured me that their "system" could do no wrong! This, after their misprogrammed software botched up the interest calculation for a prematurely withdrawn FD of a Sr. Citizen in the family to shortchange her to the tune of several thousand rupees (in direct violation of the banks own policy)! A schoolboy calculation would have shown her the error, but the BM would not even listen!
The Sr. Citizen was made to visit the branch multiple times at the peak of summer over two months, spanning two FYs (thereby complicating tax calculations) to no avail, until I took up the matter myself.
Emails to the Customer Care, -- even to the regional head did not resolve the issue. Finally the regional Financial head proved to be a very helpful person. He profusely apologized, and delegated the issue to one of his subordinates who was also a very nice person. After looking at my calculations in accordance with the bank's own relevant policy, the Sr. Citizen's account was credited within a few days with the shortchanged amount on an ad-hoc basis, with a promise to fix the misprogrammed software ASAP.
I then pointed out this "infallibility" of the bank's "system" to the BM, and took the substantial funds I had available for investment at that point, elsewhere.
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Gau₹av
TF Legend
Is this ICICI Bank you are talking about or some other bank? Because not once you mentioned the bank's name.
It's an ICICI bank thread, and the OP I was responding to was referring to ICICI bank himself, so I didn't feel the need to add even more words to my already 2000 word article! 🙂
Anyway, IIRC, I had already reported this same incident a couple of times in other threads too, so a consistency check can be made.
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Gau₹av
TF Legend
Can you link to when you first posted about this? Not for consistency check but I am interested in knowing which year this fiasco occurred and when they may have fixed it. That is a serious error
It's more difficult to point to when exactly I had posted, but the event had occurred between March and May, 2023 (i.e. before I joined TF)
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RAMESH BABU N
TF Legend
Till last month, except CCs, we do not have any dealings with ICICI.
Till 2003, however, we had many types of accounts with ICICI/ICICI Direct/ICICI Lombard.
SBs, FDs, Demat Accounts, Trading Accounts, Motor/Property insurance policies.....
Last month, we wanted a SB account (we gave a letter to close it - but it was not closed - as it became
an inoperative one and they chose to keep it there) - specifically in ICICI. Called their customer care
and within no time, it was made operational. We were prepared to go to the branch - less than 1 km from
our house - but there was no need.
We were fearing for the worst. But, the end result was too surprising. And, we were happy to bring it back
to life and is now being put to use.
It all depends on the type of problem you face and the readiness of the guy at the other end to understand and
take it to the appropriate guy with the solution (by keeping you on hold for a minute or two). We were lucky to
find such two guys on our only lone call.
Till 2003, however, we had many types of accounts with ICICI/ICICI Direct/ICICI Lombard.
SBs, FDs, Demat Accounts, Trading Accounts, Motor/Property insurance policies.....
Last month, we wanted a SB account (we gave a letter to close it - but it was not closed - as it became
an inoperative one and they chose to keep it there) - specifically in ICICI. Called their customer care
and within no time, it was made operational. We were prepared to go to the branch - less than 1 km from
our house - but there was no need.
We were fearing for the worst. But, the end result was too surprising. And, we were happy to bring it back
to life and is now being put to use.
It all depends on the type of problem you face and the readiness of the guy at the other end to understand and
take it to the appropriate guy with the solution (by keeping you on hold for a minute or two). We were lucky to
find such two guys on our only lone call.
