Why has ICICI Bank randomly done a Total Freeze on my Account?

[MikeShinoda]

Just got a message stating We have marked a freeze on your ICICI Bank Acc XX on 29-Jan-25 due to Regulatory/Other reasons. For details, visit nearest Branch or call Customer Care.

This message came at 2:50 PM - which was too late to head to the branch that closes at 3 PM.

Obviously, customer care was not helpful, other than stating that the account is in "total freeze", not "debit freeze" - thanks, that makes me feel so much better.

The chatbot in netbanking was slightly better, it said that the account is frozen because of "unusual transactions". When asked what these transactions were, they said I have to visit a branch.

This is an ICICI Wealth Management account I opened in 2021 with an initial funding of 5 Lakh rupees, which made it a zero balance account from the get-go. I use it only for UPI transactions. I also have an ICICI Rupay CC for UPI, and I use this account to pay its bill. In fact, I cleared the latest bill just yesterday.

What have I done wrong here? For what it's worth - the balance in the account is currently Rs. 0.

 

[nh124001]

zero balance hai.. mauj loo bhai.. bethe bethe.. sirf NO and PNO ko escalate.. if account is not imp.. dont put effort for physical visit

 

[MikeShinoda]

zero balance hai.. mauj loo bhai.. bethe bethe.. sirf NO and PNO ko escalate.. if account is not imp.. dont put effort for physical visit

But what if I'm in some (unknown to me) fraud case? I should find out, no?

 

[VasukiVasuki is verified member.]

What have I done wrong here? For what it's worth - the balance in the account is currently Rs. 0.

What have you done is in the transaction you made

 

[Dreams Of Desire 💓]

Do you perform transactions via bajaj finserv?have seen post similar to this because of that.
Mind sharing recent transactions?

 

[nh124001]

But what if I'm in some (unknown to me) fraud case? I should find out, no?

check your last 3 year account statement if you have it, any suspicious transaction only then you are in risk, else icici faltu ke pange lerahe hai.. yaa fir kisi ne false flag kiya hoga

 

[MikeShinoda]

Do you perform transactions via bajaj finserv?have seen post similar to this because of that.

No - just random purchases for coffee at a cafeteria, my laundryman, etc.

I don't know which one or more of these transactions have been flagged? What do I tell them at the branch anyway, when they point out one or the other to me?

 

[MikeShinoda]

check your last 3 year account statement if you have it, any suspicious transaction only then you are in risk, else icici faltu ke pange lerahe hai.. yaa fir kisi ne false flag kiya hoga

3 years is an awfully long time.

 

[Dreams Of Desire 💓]

No - just random purchases for coffee at a cafeteria, my laundryman, etc.

I don't know which one or more of these transactions have been flagged? What do I tell them at the branch anyway, when they point out one or the other to me?

They will ask the sorce of funds or intention of txn.
Might as well take it in writings from you about those txn

 

[MikeShinoda]

They will ask the sorce of funds or intention of txn.
Might as well take it in writings from you about those txn

Ridiculous. I have to waste my morning tomorrow telling ICICI Bank I used UPI to buy coffee from my salary. In writing.

Whatever happens, I shall keep this thread updated. My home branch is in Chennai but I'm in Mumbai now - I hope they don't cause a fuss because of that.

 

[KGSIPO]

Hearing first time that ICICI has put a freeze .

 

[AURA AURA]

U did bulk upi transaction thats why frozen branch will tell the same ..if its not law enforcement case

 

[MikeShinoda]

U did bulk upi transaction thats why frozen branch will tell the same ..if its not law enforcement case

So what's the fix?

 

[NABNAB is verified member.]

So what's the fix?

Contact the Branch/Your RM. That's the only solution for now.

 

[MikeShinoda]

Visit branch, meet to BM. Banks like ICICI, HDFC, IDFC, Axis freeze accounts if you did a lot of UPI transactions in savings accounts. Savings accounts are not for this purpose in private banks. Open Airtel Payments Bank, SBI, PNB, BOB, Indian Bank, etc. (PSU banks); those banks do not usually freeze accounts for this

Savings accounts are not meant for petty UPI transactions? The first time I'm hearing this.

Are salary accounts (technically still savings accounts) better?

 

[SSV]

Just got a message stating We have marked a freeze on your ICICI Bank Acc XX on 29-Jan-25 due to Regulatory/Other reasons. For details, visit nearest Branch or call Customer Care.

This message came at 2:50 PM - which was too late to head to the branch that closes at 3 PM.

Obviously, customer care was not helpful, other than stating that the account is in "total freeze", not "debit freeze" - thanks, that makes me feel so much better.

The chatbot in netbanking was slightly better, it said that the account is frozen because of suspicious transactions. When asked what these transactions were, they said I have to visit a branch.

This is an ICICI Wealth Management account I opened in 2021 with an initial funding of 5 Lakh rupees, which made it a zero balance account from the get-go. I use it only for UPI transactions. I also have an ICICI Rupay CC for UPI, and I use this account to pay its bill. In fact, I cleared the latest bill just yesterday.

What have I done wrong here? For what it's worth - the balance in the account is currently Rs. 0.

So what's the fix?

on an average how many UPI transacgtions you did per month for the last 6 months / 1 year? This may be helpful to those who are doing frequent UPI transactions using SB account.

 

[MikeShinoda]

on an average how many UPI transacgtions you did per month for the last 6 months / 1 year? This may be helpful to those who are doing frequent UPI transactions using SB account.

From Oct '24 to Jan 29, 2025, I just counted - I have done approx. 20 a month. Not a giant number (I think).

By the way, I said the reason was "Suspicious Transactions" in my OP. I want to correct it - it is "Unusual Transactions". So hopefully not law enforcement/cyber crime related.

 

[SSV]

From Oct '24 to Jan 29, 2025, I just counted - I have done approx. 20 a month. Not a giant number (I think).

By the way, I said the reason was "Suspicious Transactions" in my OP. I want to correct it - it is "Unusual Transactions". So hopefully not law enforcement/cyber crime related.

see when you are doing UPI transactions we dont know the details about the Payee.. they might have involved in some naughty things..

I use third party apps like payzapp , MK etc for most of my UPI transactions, not directly from SB account

 

[Indian]

They mentioned as regulatory reason so issue in KYC or Compliant against your account lead to total freeze

 

[MikeShinoda]

They mentioned as regulatory reason so issue in KYC or Compliant against your account lead to total freeze

No - it says "Regulatory / Other Reason". When I spoke to the human agent via a chat, this was stated: