ICICI regular savings account Queries.

[kuchrm]

I recently applied for an ICICI Bank regular savings account with a minimum average balance of ₹10,000 on March 25th March 2025.The home verification process was completed successfully on the same day. Subsequently, I received a notification indicating a "3-in-1 account opening" was underway. Recognizing that this typically includes a demat account, I promptly contacted the bank representative to explicitly state my requirement for a savings account only. I received verbal assurance that the demat component would be omitted(means removed).

I would appreciate insights from others who have navigated a similar account opening process with ICICI Bank. Specifically:

* What was the typical timeframe for account activation following home verification?
* Are there recommended procedures to confirm the exclusion of the demat account from the final account setup?

 

[kuchbhikuchbhi is verified member.]

Wait what Home verification for account opening 😳

 

[kuchrm]

Wait what Home verification for account opening 😳

Icici does that. Here home verification means geographical location

 

[kuchbhikuchbhi is verified member.]

Icici does that

I never heard of it : (

 

[cardio_guycardio_guy is verified member.]

You are trapped. Demat account will be opened and they will debit 999+ GST from your account after 1-2 weeks of opening.
Verbal confirmation is not enough, did you sign any form (paper or digital) during the account opening process?

Question: Did you open with any initial funding? Or was it completely 0 initial funding? How did you open the account? By visiting any branch or online?

After geo tagging (home verification) it will take a max of 1 week to set up the account and get all details in place..

 

[kuchrm]

You are trapped. Demat account will be opened and they will debit 999+ GST from your account after 1-2 weeks of opening.
Verbal confirmation is not enough, did you sign any form (paper or digital) during the account opening process?

Question: Did you open with any initial funding? Or was it completely 0 initial funding? How did you open the account? By visiting any branch or online?

After geo tagging (home verification) it will take a max of 1 week to set up the account and get all details in place..

Offline branch only.
If they deduct can I raise complain and refund my amount by the closing the demat account for that? Yes initial funding 10k.

 

[hender]

I recently applied for an ICICI Bank regular savings account with a minimum average balance of ₹10,000 on March 25th March 2025.The home verification process was completed successfully on the same day. Subsequently, I received a notification indicating a "3-in-1 account opening" was underway. Recognizing that this typically includes a demat account, I promptly contacted the bank representative to explicitly state my requirement for a savings account only. I received verbal assurance that the demat component would be omitted(means removed).

I would appreciate insights from others who have navigated a similar account opening process with ICICI Bank. Specifically:

* What was the typical timeframe for account activation following home verification?
* Are there recommended procedures to confirm the exclusion of the demat account from the final account setup?

You are trapped. Demat account will be opened and they will debit 999+ GST from your account after 1-2 weeks of opening.
Verbal confirmation is not enough, did you sign any form (paper or digital) during the account opening process?

Question: Did you open with any initial funding? Or was it completely 0 initial funding? How did you open the account? By visiting any branch or online?

After geo tagging (home verification) it will take a max of 1 week to set up the account and get all details in place..

3in1, it was distributed as 0mab initially, well in your case, you already paid 10k, so check if it can work 0mab.
What's geo tagging, do they come to your residence? Or something else ?

 

[kuchrm]

3in1, it was distributed as 0mab initially, well in your case, you already paid 10k, so check if it can work 0mab.
What's geo tagging, do they come to your residence? Or something else ?

Yes they do