[Resolved]  ICICI Bank — Incorrect Transaction on a Loan account

Name: Rahul Kapoor
Product: Loan Account
Account No: LPDEL[protected]
E-mail address: raul.[protected]@gmail.com
Mobile no: [protected]
Details of complaint:

I have a loan account with ICICI Bank for which a payment was due on the 5th of Dec 2008. I made a deposit of Rs 10000, to my HDFC bank account for an ECS payment due for ICICI (EMI of Rs. 6018) however, the ECS had already gone through in the morning before I made the deposit. Unfortunately, I did not have the funds in the bank early in the morning at the time of the ECS going through and had to incur returned check charges. The documentation for ICICI bank does not mention that the ECS will not be tried again in the day. My understanding was that the ICICI bank will still transact the payment later in the day which is usually what any bank would do. I did not receive any notification from ICICI that the payment did not clear, but when I checked my HDFC account again, the money was still there.

I called up ICICI Bank after two days and asked them about this, they told me the payments are not sent back to the bank if not cleared in one go. I asked them how to make the payment and I was asked to go to a loan office and make the deposit which I did on the 6th of January - 2009 (receipt number - O-[protected]) including the extra charges required to be paid. The total payment was around Rs 6440.00 The ICICI Bank had told me they would not transact the ECS again as the payment was made in cash and the January ECS 5th of Jan - 09 had also cleared. For me that was the end of the story here.

However, on the 17th of January - 2009 I received a notification that another payment of the same amount, Rs. 6108 was presented to my bank for the December payment, when there was nothing due on the account. Since this payment was not due I did not keep the funds in the account, the previous pending amount had been paid in cash, I called ICICI Bank up but to no avail. The bank acknowledges that the payment was incorrectly put to the HDFC bank, but has no ways to rectify the returned charges put by HDFC on my account. This incorrect transaction and an additional bounced check charge can'not be removed by them. I sent them an email to get a confirmation, stating that the ECS transaction on 17th Jan - 09 was incorrectly sent to my bank for transacting. However after repeated followups they have not been able to take care of the request.

I would like to register a complaint against the fellows at ICICI Bank for ridiclous customer service. It seems they do not demonstrate any fear for any governing body which can take action against them.