Saturday, July 17, 2010

ICICI Money transfer NEFT working day restriction

When transferring money via the ICICI bank account, if you are transferring via the NEFT facility and you don't do so in the working hours then you get the below error








Most banks simply log the request for money transfer and simply show an alert at the end saying that since you transferred in the cutoff period for the day, you money will be transferred in the next working day. Instead ICICI bank does not allow to log the request. So now I have to log back in on their schedule to schedule a transfer. Totally inconvenient and BS. As per the cutoff times on the screehshot above, they are based on IST. This is an NRO account which means it for Indian citizens residing abroad. I reside in Arizona USA so what this means is that I gotta wakeup before 6:00am in the morning to log a transfer funds request? Goes to show that was there any thought kept when designing this thing for NRI's? Another reason to stick away from ICICI for NRE/NRO accounts. My other NRO account is Citibank and it clearly allows me to transfer money anytime of the day and internally schedules it on same day/next day based on cutoff times.

1 comment:

ICICI Bank Care said...

Dear Sudhir,

We are sorry to hear about all the grievances you have for our banking services. We would like to take this opportunity to resolve all the complaints you have. Please email us your contact details at care@icicibank.com and we will get back to you at the earliest to make sure the necessary action is taken. Kindly refer "567609" in the subject line.

Regards,
ICICI Bank Customer Service Team.