ICICI Bank: Transfer Funds

[Sushubh]

Source

 

[mhsabir]

Got SMS that henceforth that after adding a payee, you will be able to transfer funds after 24 hours. Reason : More security. This after crossing logon pwd/pin & using OTP to verify the payee.

 

[Sushubh]

Yup. These banks have made joke of the online transfer system. For same bank transactions... going to bank and getting a cheque cleared on the spot is faster in some cases.

IMPS solved most of these issues but they have implemented stupid limits and charges to make it useless for larger transactions.

 

[mhsabir]

Real reason might be that they get to keep the monies for 1 more day

 

[Sushubh]

I am seriously quite happy that I am shutting down my ICICI Bank account. Yes has been quite nice so far wrt fees and other limitations. Would probably switch to another young bank if they too start with stupid fees.

ICICI for example charge Rs. 15 per quarter for text alerts. I get zero text alerts coz none of the transactions I do are I guess covered under it. I do not use ICICI Debit Card for cash withdrawal which is probably covered under these alerts.