Increasing Transaction Problems With ICICI Bank

Recently we (me and my wife) had two bad experiences with online money transfer from ICICI Bank website.


Case 1: I transferred money to my credit card using Account-to-card Visa Money Transfer facility. I did this one day before the due date for paying my credit card bill. This was on May 2, 2009. The money got debited instantly and the transaction was successful.

However, today is May 11, 2009 and the money has not yet been credited to my card account. And because of this, they have charged me late payment fees of Rs. 750 plus service tax! Now, who is responsible for this????

I have used this facility a couple of times in the past too, so I know for sure that there is no problem with the payee registration details. And for this reason, I did not even bother to check whether the payment was credited.

Now, one of either ICICI Bank or HSBC is responsible for this, and I’m quite confident it’s the former. I will update this review once I have confirmation. And I have decided not to pay the late payment charges.

Case 2: My wife recharged her Airtel prepaid mobile number from the ICICI Bank website. The amount was debited but her number never received the recharge. So she tried again, and again the same thing happened! Even she has used this facility once earlier, and that time it worked.

My wife had a torrid time trying to get to customer care, as the numbers are always heavily loaded. Anyway, finally she got through to them and lodged a complaint. After following up a couple of times, the money was credited back.

(Extra) Case 3: Another example that I thought I’ll add. This shows the recent careless attitude that has crept into their employees. Last month, I went to the Koramangala branch to upgrade my ICICI plain savings account to Gold Privilege (because anyways I maintain that much balance). After making me wait for 10 minutes, the guy says “sorry sir, the form is not available!” Well, well. I said no problem, note down my number and call me once it’s available. And as you may have guessed, I never got any call from him later. In fact, seeing his face at that time itself I was sure he wasn’t gonna call. He had that “who cares” attitude. Finally, I found out the account upgradation link in my netbanking account and upgraded from there.

Conclusion: Two cases of transactions not being processed properly at roughly the same time! This leads me to believe that there is some larger issue going on at ICICI Bank! I am beginning to lose confidence in this bank. I think I have to move my FDs and other investments to other banks.

UPDATE: May 13, 2009

Yes!! As I was sure, the problem was at ICICI Bank’s end. After I raised a ticket, they conveniently refunded the money, 11 days after I transferred it! What were they doing all these days? Why did they return the transaction amount only after I raised a case? And most importantly, who is responsible for the late payment charges that HSBC has placed on me??? At least if the transaction had been declared a failure immediately, I could have tried again. I don’t understand where the money was floating all these days!

I have written another email to ICICI folks today and asked them this question. Let’s see what they say (though of course I know what it’s gonna be).


You have refunded the Visa money transfer I did to my credit card on 2nd May today (after 11 days). However, because this amount was not credited, they have charged me late payment fees. Now, who is responsible for this??

At least you could have refunded it earlier, so I could have retried. Why did it take so many days, and that too only after my intervention, for the money to be refunded?



Sent: 12/05/2009 3:18:38 PM
To: 88100xxxx.88100xxxx
Subject: RE:’ICICICARE=034-xxx-xxx’ Card-tc-card Visa money transfer payment not yet cred
Dear Mr.Padiyar,

We are checking with the department concerned and will update the status at the earliest.


Vamsi Priya
b2 Customer Care
ICICI Bank Limited

UPDATE: May 15, 2009

Got a reply from them today. See below:

Sent: 15/05/2009 6:33:47 PM
To: 88100xxxx.88100xxxx
Subject: RE:’ICICICARE=034-xxx-xxx’ Card-tc-card Visa money transfer payment not yet cred
Dear Mr. Padiyar,

Please provide us the statement where the late payment charges are levied.

Please send the statement as an attachment from your personal mail ID to in .doc or .html format.


b2 Customer Care
ICICI Bank Limited

Based on this, I have emailed the statement requested. Let’s see now.

UPDATE: June 10, 2009

So finally, after a couple of more emails following up on the status, I see that the refund has finally been credited to my ICICI Bank account. Finally, a happy ending!

UPDATE: January 6, 2010 – Fresh problems

Yet another scheduled fund transfer failed due to which I have again been charged late payment fees by Kotak credit cards.

Normally I transfer the card payment from my main ICICI Bank account to my ICICI B2 account and then make the payment from there, because online card-to-card fund transfer is free from ICICI B2 accounts.

Last month, my scheduled fund transfer from my ICICI to my B2 account failed for “technical” reasons, which I was informed of only 3 weeks later. Strange thing is, I did not even get any kind of notification when the transfer failed.

Due to the failure, the scheduled payment from my B2 account failed due to lack of funds, and I was charged late payment fees by Kotak.

I was actually cursing myself thinking that I failed to schedule the payment, until I got the mail from them after couple of weeks informing me about the failed transfer and asking me to do “manual payment” this time!

I have raised it with them again and asked them to refund my late payment and interest charges, failing which I will approach the banking ombudsman. See the mail chain below:


As requested, I have sent a PDF copy of the credit card statement showing the late payment and interest charges via email.



—–Reply Separator——-

Dear Mr. Padiyar,

We value your relationship with ICICI Bank.

Complaint with regards to failed scheduled transaction, please provide us with the Late payment charges statement scanned copy as an attachment at for further investigation. Please mention the subject line as case ID 040-xxx-xxx.

Looking forward for your co-operation, in helping us serve you better.


C Deepak
Account Manager
ICICI Bank Limited

—–Original Message—–

Branch Id : 0002  Account Id : 0002xxxxxxxx


My funds transfer to my B2 account which was scheduled for 2nd November, 2010 had failed, and I did not receive any intimation whatsoever regarding this, either by email or SMS. I was informed about this only on 17th November, 2010, that too by mail to my ICICI Bank inbox, not to my primary email account.

Because of this failure and lack of any intimation of that, I faulted on my Kotak credit card payment and was charged around Rs. 1000 as penalty plus interest. I can provide the card statement if required.

In my view, this is a deficiency of service by ICICI Bank and you must pay me back the loss incurred by me as a result of the fund transfer failure. If you do not compensate the penalty, I am planning to approach the Consumer Court or Banking Ombudsman for this.

Please let me know whether you are willing to compensate me or not, at the earliest.


Vijay Padiyar

Next time this happens, I will directly go to the ombudsman and/or consumer court. How long can I let them ruin my CIBIL score due to their mistakes??



  1. navdeepnavdeep10-26-2012

    Hi, I am a freelance professional and recently i am facing issues with payments too. usually i receive money within 2 days after withdrawing from MY Odesk, Elance accounts but from past 3 transactions it take around 7-10 days to update funds in my Icici account.
    Any of you guys having such problems too?

  2. Aditya RAditya R10-21-2009

    Hi Vijay,
    I am facing the same issue now. i have done a VISA MONEY Transfer using my ICICI account to my HSBC credit card on 02/10/09 and the transaction showed as a ‘Success’ on the ICICI website that day and my money debited. My HSBC due date was on Oct 15. Now, HSBC has levied late payment fee of INR 750 on my account since the money was not received at HSBC. Now, my next bill gen date is on Oct 23 which is just after a day.
    I have been calling these ICICI customer care people since morning and there is no use in talking to them with their routine messages like ‘we will transfer to the concerned department’ which later on disconnects the call. They are reluctant to take on a complaint.
    Now, I have lodged complaints with HSBC as well ICICI using my personal email.
    Need to wait to know where the actual problem is.


  3. Nodal OfficerNodal Officer05-12-2009

    Dear Mr. Padiyar,

    Kindly write to us at with ‘Customer Service issue – credit card’ as the subject line. Request you to provide the relevant details of your credit card along with your full name and contact details.

    We will be happy to help you.


    Nazia Sayeed
    Office of the Nodal Officer
    ICICI Bank

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