Sometime last month, my girlfriend and I decided to open up a high interest online banking account. The sign up procedure was fairly easy. You enter all the necessary information and then you mail them a cheque. The cheque is made to yourself and serves as a link from the online account to your regular bank account. This is the same procedure that I did when I signed up with ING Direct. It was pretty much hassle free and I got the bank account opened in no time. I wanted to do the same thing for ICICI Bank but it’s not as easy.
I signed up for ICICI Bank back in November. I filled out the online formed with my personal information and submitted the application. They gave me a temporary reference number and requested that I make an initial deposit to my new account in the form of a personalized cheque with my name pre-printed on it and make it payable to myself. Once they receive the cheque and it has cleared my new account will be opened.
A week or so later, they sent me an email stating that they have received my cheque but they cannot deposit it because my information needs to be updated. I leave the email alone for a while until one day a representative called me. She requested the updated information, to which I complied. After she took down all my information she informed me that a welcome package will be sent to me within the next couple of weeks. It has now been almost two months since the day I signed up and I still have yet to receive a welcome package.
I decided to call them and inquire about the status of my online account. I spoke with someone with an Indian accent who couldn’t hear me because my voice was too “wide.” I don’t know what he meant by that but I assumed that they wanted me to speak louder. I hate calling in to speak with a representative who has an Indian accent because I can never understand what they’re saying. This guy kept telling me that my voice was too “wide” and he couldn’t understand me. He started off my asking me for my account number. I didn’t have an account number because I haven’t received my welcome package yet.
CSR: Can I start off my getting your account number?
Me: I don’t have an account number yet because I don’t know if my account has been opened. But I do have a temporary reference number.
CSR: Okay, what is the temporary account number.
Me: It’s 123456789.
CSR: Okay and what is your last name?
Me: It’s Khuth. K-H-U-T-H
Me: No, K-H-U-T-H.
Me: No, T. K-H-U-T-H
Me: No. Kilo Hotel Uniform Tango Hotel.
CSR: Okay, can I put you on hold while I look up your account?
Me: Of course.
on hold for five minutes…
CSR: Thank you for holding. We need two pieces of identification before and a personalized cheque before we can open your account.
Me: I’ve already sent in a personalized cheque.
CSR: For fifty dollars, right?
Me: Yeah. I’ve sent that in, why are you asking me to send in another one?
CSR: Oh okay. You need two pieces of identification then before we can open your account.
Me: Shouldn’t the account be opened by now since I’ve already supplied my updated information to the last representative? She said that a welcome package should have been sent to me and this was way back in December.
CSR: Okay, I see here. Your account should have been opened since December but you still need to send in two pieces of identification.
Me: Oh really? Alright, I’ll have that done.
In the end, I’ve decided not to send in any information. I’ve sent in the required things to get the account opened and the representative said that everything was good and a welcome package will be sent to me. A couple of months down the road and still no welcome page. My girlfriend received her welcome package last month and we opened the account at the same time. This is a high interest account but I don’t need it that bad. I just thought it would be nice if I had my money saved somewhere so that it would be working for me. But if this is the kind of hassle that I have to go through in order to open up a bank account, I don’t think it’s worth the wait.