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Customer issue: ICICI committing fraud




This is about a seemingly big fraud that India’s largest private sector bank is playing on its customers, giving a designation for something, and then doing something that is directly opposite, just so that they can squeeze their customers even more.
I used to work in Chennai, and had an ICICI account over there (that was a salary account). Later, I used the same account for linking to the ICICIDirect stock trading facility. Some time later, I switched jobs and cities, and moved over to the capital city, Delhi. While migrating many of my details, I asked the local ICICI bank about what I should do about my existing account, and they informed me that I can use my account as is, except that checks that I issued would involve an additional charge because of the different city status. Okay, so I stopped using the ICICI Bank account for this purpose, and used my alternative salary account instead for check issual.


However, this always was a bit irritating since the stock trading account being ICICI meant that a lot of inflow and outflow would go through the ICICI account, and not being able to use the money for checks meant a small inconvenience. Imagine my pleasure some time later when I learned that ICICI Bank was now issuing payable-at-par checks. I started using these for regular transactions in Delhi, and imagine the shock when I saw a multi-city charge to my account. Upon asking ICICI Bank about this charge, guess what they told me about the ‘payable-at-par’ checks ?
“Multi-city cheque payment charge is a charge for clearing a payable-at-par cheque at an outstation location (i.e. outside your city).”
Further, this is their definition of what payable-at-par means:
“Please note that ‘Payable at par’ means a cheque is payable at any location in India.”
Very strange. So were they claiming that their earlier checks would not get paid if I gave them to somebody in Delhi ? I don’t see what benefit their customers are getting as per their definition of ‘payable-at-par’, it is only ICICI Bank that can claim that they are also issuing payable at par checks, and yet get away with charging a penalty to their users.
I tried using their complaint site at https://infinity.icicibank.co.in/salesEARWeb/web/rbi/jsp/index.jsp, but it built using Javascript, and the complaint option did not work (maybe they do not want to see complaints)




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