ICICI Direct Complaints & Reviews

I have opened a demat cum online trading account with icicidirect.com . It is almost crossed 15 days still . I cannot trade with these account. and still I cannot get a proper answer and my problem is not solved . If iam trying to place the order in equity page it is telling you are attached to direct business catalyst. But the customer service peoples are telling no these account is not attached with direct business catalyst i have sent the image of what error is coming also. But still my problem is not rectified. What a great service for new customer



Dear sir/medam

I have sent the attachment which was shown in your trading site kindly see this and reply immediately

it is almost crossed 10 days still the problem in the same manner it is not clear by your bank

Thanking you

yours faithfully

lakshmi


From: Helpdesk <[protected]@icicidirect.com>
To: "[protected]@yahoo.co.in" <[protected]@yahoo.co.in>
Sent: Thursday, 22 December 2011 1:48 PM
Subject: RE:'ICICICARE=423-730' Other Queries related to your Demat Account (Please elaborate in thespace provided below)
Dear Madam,

Greetings from ICICI Securities Limited!

As verified our records, we wish to inform you that your ICICI trading Account [protected] is not linked to Direct Business Catalyst account.

If you face the same problem, we request you send us the print screen of the error message page which you are getting through ICICI Direct account (reflecting date and time) for us to check and do the needful at the earliest.

You may take print screen of the site you are facing error by pressing print screen button of your key board. Open a Word file, and use CTRL +V option to paste in on the word file. Save it in your desktop or document and attach it to your mail.
We assure you best services always.
Sincerely,

Siddesh Parkar
Customer Service Officer
ICICI Securities Ltd


Get your query resolved instantly. Visit : "Insta Help" on ICICIdirect.com -> Customer Service Page.


Now, invest systematically in shares and become a disciplined investor with Equity SIP from ICICIdirect.com. For details, please refer the FAQs on our website www.icicidirect.com.

Register your request for Demat Account Holding / Transaction statements / bills or query for the status of any form submitted at the branch by selecting the 'Create Service Request' option under the 'Demat' menu on Internet Banking.

Stay connected for communication by updating your contact details through "Forms Center" at www.icicibank.com .

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-----Original Message-----
From: [protected]@icicidirect.com ([protected]@icicidirect.com)
Date: Thursday, December 22, 2011 11:44 AM
To: [protected]@icicidirect.com ([protected]@icicidirect.com)
Subject: Other Queries related to your Demat Account (Please elaborate in thespace provided below)

Name : LAKSHMI * R
Email ID : [protected]@yahoo.co.in
User ID : WK305930
Match ID :
Time : 12/22/2011 11:42:04 AM
Messsage : Dear sir, We are opened this account for our own use. We are in the field of 12 years we have a demat and online trading account with hdfc also . But today I activated my New account with you then i try to placed the order it is telling it is linked with Business Catalyst what is the service i dont want any catalyst for my account. kindly release the account otherwise close this account immediately


This mail has been generated by ICICI Securities Ltd. on the request of the customer. A copy of the same is forwarded to the customer for his reference. The mail is generated through a secured environment and after authenticating the customer details. Response to this mail will be sent within 48 Hrs.

Dear Sir/Madam,

I have incurred huge losses due to mis-communication by ICICI representative about margin maintenance on my currency trading account. I had sold some currency future contracts at different levels, and was maintaining more than enough margin in my currency trading account but still when I noticed margin amount mentioned in red under open positions tab, I immediately called ICICI Direct customer care and had a word with a lady representative in Trading. She clearly told me that I have enough funds available in the currency trading account, and so I need not worry about posting further margin or reallocating anything. I confirmed this with her several times, and also recorded the conversation on my blackberry so that I am doubly sure, as I wanted to hold the contracts till maturity. But soon after my conversation with the representative, I noticed that 5 of my contracts got automatically squared off due to insufficient margin, whereas the market didn't move any bit after my conversation with the lady rep. I immediately called ICICI Direct customer care again, and highlighted this issue to customer service supervisor (Ms. Smitha Jadhav) who told me that they will retrieve the conversations from back-end, and if a mis-communication has been given to me, all the losses incurred will be made good. After several days of back and forth communication with her, she has told me that even though it was found from retrieval of voice-recordings that I was given wrong information, they can not reverse the loss incurred. I told her that she had clearly mentioned that if it is found that I was mis-communicated, all the loss incurred will be made good, but she said that this decision is not in her hand, and she suggested that I send an email to higher authority at ICICI Direct regarding this. I immediately sent an email to the grievance redressal team at ICICI Direct (i.e. to [protected]@icicidirect.com and [protected]@icicibank.com) but I didn't hear back from them. I followed up again with them after a week, but still they didn't bother responding.

Today was the expiry date of the future contracts that I had sold, and if my positions weren't auto squared-off, I would have made some money, but instead I incurred a loss to the extent of approx. Rs. 15,000. I will really appreciate if you can try to resolve this issue, as this loss is too big for me to bear.

I will really hope to get a positive resolution to this matter.



Thanks & Regards
Kanchan

I want to register a complaint for debit in my ICICI bank account no[protected]
some education charges has been debited from demat account.
My demat account E-broking number with ICICIDirect is [protected]. Debit amount is 3530.

On enquiring from Mira Road Branch and icicdirect , they have said this is for
some demo training received. None of our family member has received training.
Bank employees feedback was that it is either phishing or relationship manager has
done it. I want to register a complaint to find the root cause of it

THIS IS VERY SERIOUS ISSUE, RELATIONSHIP MANAGER IS SAYING YOU HAVE DONE IT AND SO IS BANK SAYING, BUT WHEN I AM ASKING FOR ANY VERFICATION OF TRAINING, NO ONE IS ABLE TO PROVIDE

I have lost all money around Rs 192000 during July 2011 invested in my ICICIdirect Serurities ATS account in June-July 2011 under guidance of you Officer posted at Shajahan Road Hazratganj Lucknow. It looks that some think either mistak or fussy in hadling in my deposit amount in ATC Client Code: [protected] and ICICIdirect demant Acc No.[protected] from my ICICI bank saving Bank Account no[protected] and Demant account no IN302902 – 48541536. I may have to go to consumer forum if you will not rescue my money Rs 192,000
I request you may kidly rescue atlest my deposit Rs 192000 so that I can invest in mutual funds
Thanking you in anticipation to resue my hard earning money. How can believe digest that my losses accrued within a month time?
MohammadWaheed
4/86 vishal khand Gomti NagarLucknow
Mobileno.933592
Email [protected]@gmail.com

Due to technical problem in icicidirect.com website i have lost money. I need compensation INR 10000. Please help me on this.

dear sir

i have a demat account with ICICI direct
during the 2007 floods in mumbai the bank lost all account holders documents.
they locked the accounts for any activity till the documents were re submitted.

i have an account with my mother in the second name ..
i had submitted all my documents ( Pan Card, Pass Port, D L, Photo ) and my mothers except ( tax return copy, Pass Port copy, D/L, Photo ) her pan card as it was lost and we had applied with income department for duplicate

they didn't allow me to sell the shares of Consolidated Fibers Kolkatta ... even after requesting that the company is going in winding off and the value would become Zero .. i suffered a loss of 45000 because they didn't keep the documents safe.

i had offered a certfied copy of the tax returns filed of my mother ... recently i wrote to their customer cell and was given a word SORRY for the loss

thats not the compensation for the loss i have suffered

This is to bring to your attention towards poor / deficiencies in services by ICICIDIRECT.COM, due to which I have been undergoing a lot of inconvenience and suffering financial loss as well.
1. I was an NRI and had NRI Dmat and trading accounts with broker, for trading in shares and Mutual funds.
2. My status got changed from NRI to RI (resident Indian) sometime back and as per the rules I was required to close my existing NRI Dmat trading account and open a new RI account and transfer all my shares and mutual fund holdings from NRI account to RI account.
3. To close my NRI account, I was asked by ICICIDIRECT.COM to give Transfer out applications for each AMC to broker. I gave application for each AMC. This process started in the first week of April 2010 and got completed in August, 2010 only. Normally it should have taken only 2 working weeks.
4. Once my all Mutual Fund holdings were transferred out, my NRI trading account was closed and new RI Dmat trading account was opened. I was then asked to give ‘Transfer In’ application via ICICIDIRECT.COM to transfer my mutual fund holdings to new RI account including change of my tax status from NRI to RI.
5. I gave Transfer In applications to broker on August 13, 2010.
6. Even after more than 2 months, only few mutual funds holding are transferred to my new RI account in spite of my close follow up with the company and management. As a gross negligence on part of ICICIDIRECT, tax status of these units was not changed.
CURRENT GRIEVANCE:
1. Since last 6 months (April 2010 to October 2010) I am not able carry out any transaction for my Mutual Funds.
2. As my tax status was not changed
My Redemption order for 20709 units of ICICI prudential Infrastructure fund-Dividend placed on Oct 13, 2010 got rejected by AMC resulting in financial loss to me.
My switch out order on Oct 13, 2010 for DSP black rock TIGER also got rejected.
3. My holdings of Birla sun Life Mutual fund, Franklin Tempelton still not transferred to my account till date nor my tax status changed.
4. My tax status of the holdings transferred to my account (Reliance Mutual Fund, DSP Black rock fund, ICICI Prudential fund, HDFC mutual fund, SBI mutual fund, Sundaram mutual fund, UTI mutual fund) still not changed. It’s a serious lapse on part of ICICIDIRECT.com.
My tax status must be changed immediately for my unit holdings.
I have made several representations to ICICIDIREC.COM personnel but in vain.
.

Thanks & Regards,

Ajai Kumar Bist


ICICIDIRECT A/C N; IN[protected][protected]

Date : 17/10/2010.

Stay away from ICICIDirect,Tata Motors Fixed Deposit and LinkIntime Registrar.

Dont invest in them,if you dont want to make your life miserable. You will have to wait endlessly to get your own money back when your fixed deposit is matured. They are thick-skinned professionals.

I'm telling this based on my own experience.

Dont use these services. They are and just dont care about their customers. Dont risk your money in their unprofessional hands.

Stay alert....Stay away from them....

I am facing the problemfrom last 6 months with ICICIDIRECT. Regarding to this i had call customer care and also hda word, though they commite to do that still it doesn't get sort out. they asked me asked me for another bank statemet as address proof but i told about not having account with any other bank. no other they are giving and my problem is still remain as it is. i am suffring a lot because of this.
ICICIDIRECT BANK's service is worst in every manner.
Do the needfull.


Could you please help.

Deepali Rithe
[protected]

Stay away from ICICIDirect.com. They have pathetic service quality. Not following SEBI mandate.
No point is escalating matters to Head of Service Quality of COO. They are hopeless...
If you don’t want to regret afterwards or lose your money.....Don’t invest through ICICIDirect.com.

I'm telling this based on my personal experience. Use any other service,but dont get fooled by ICICIDirect.com

I am a short term trader. Today I lost Rs 15000 due to technical problem on this site. It does not happen with any other site. All must shift to some other trading sites and new traders should never open an a/c with icici please. They work like a 'sarkari' (read goverment) kind of set up. very slow and ineffecient.

I tried logging into the ICICIDirect web site at about 6.20 pm today (IST). The login page came up fine. I entered my stuff and hit the enter key. And guess what? I got a very polite page saying that the blasted &*(66%^*&*^&) web site was down for "For Some Technical Reason".

1. What happens to my login information? I entered my credentials and had the site bomb in my face! Why can't the blasted "Site Down" notice be pasted before the login page?
2. Notice the "Contact Site Admin" notice? How do I contact the site Admin? Email? Phone? A kick on the Bum? Bloody !

It is often that ICICIDirect site is down during trading hours due to their own technical reasons.But today it is really frustating and blanderus thing happend that there trading system was down for whole trading session i.e. 8th July 2010 for ICICIDirect customers no trading at all.
They have very limited call taking capacity with high waiting time, for every thing they appolozise, but have no solution to it. In last 2 months there site was down more than 4 times during trading hours. Be careful about it before opening an account with ICICIDirect.

I had invested in Tata Motors FD through ICICIDirect in April 2009 for 1 year. FDR#603593

The rate of interest promised to me was 10% plus additional 0.5% as I was holding Tata Motors shares at that time.

I have concerns with service quality of both ICICIDirect.com as well as Link Intime.com, who is the registrar of this issue.

ICICIDirect has sent my incorrect name information to registrar.
I'm currently in USA on a project deputation. About 3 weeks back, my parents received a cheque with incorrect name on it. They can’t deposit since instead of my correct name “Mhatre Santosh Kundlik" they issued the cheque on "Mhatre Kundlik", which is my father's name and my ICICI Bank account number on it.

I have been doing a lot of email follow-up with both the parties but yielded no results. Link Intime is asking me to send the physical deposit certificate to be sent to them in order to get my maturity proceeds.

My question is - If I had invested money through ICICIDirect.com because of ease o[censored]se, why do I have to do this entire manual work, only because the registrar doesn’t have IT/Systems capabilities to handle it?

There are so many people like me, who have to travel to other countries because of job and they end up being helpless because of this type of service being rendered.

My appeal to IT professioanal - DONT USE ICICIDIRECT.COM

Thanks very much,
Santosh Mhatre

I had invested in Tata Motors FD through ICICIDirect in April 2009 for 1 year.

The rate of interest promised to me was 10% plus additional 0.5% as I was holding Tata Motors shares at that time.

I'm currently in USA on a project deputation. Today, I was told by my father that he has received a cheque of amount Rs.9858 on his name. I don’t know why the cheque has been issued on my father's name

At the time of subscribing to this scheme, I had chosen auto-credit of interest and principal amount to ICICI Bank account which is linked to my ICICIDirect account. Also, the tenure of my deposit was 1 yr.; I have no information about my principal amount. I don’t want to auto-renew it. Last week I received an email from ICICIDirect asking me whether I want to renew my FD, to which I replied back saying I don’t want to renew. I didn’t receive any communication after that. I have no clue where my money is is right now? I really don’t expect such a poor service from ICICIDirect. I'm really feeling unsure about Link Intime's capabilities to handle such matters keeping in my previous experience with one of other fixed deposit.


Request / Suggestion to all - Never ever use ICICIDirect.com to open a fixed deposit and especially if its registrar is Link Intime.Both of them are highly incompetent and will make you run door to door once you lock your money with them.

Any escalation made to the highest possible officer with them didnt yeild any results.

one word best describe them - PATHETIC

Sir/Madam
I have an online trading account in icicidirect and the
account no. is [protected] and the account is linked to
icicibank Chennai account[protected] for the last two and
half years. Earlier it was linked to my icicibank
Mumbai account[protected]. My mumbai bank accont was closed
one year ago. I have some mutual funds in demat form.

Due to failure of icicidirect to intimate the AMCs the updated
linked bank account details and current address details, the
dividend declared by Birla Sun Life for Bila top 100 fund on
15/10/09,[protected] andPrincipal Mutual fund for principal large cap
fund on 29/7/09 could not be deposited to the bank
account.The details were given to center manager
icicidirect,KK nagar West ,Chennai in November 2009.I have
been in contact with that branch But the branch(manager) is
useless one..I have given mail to helpdesk on 16th
Feb2010.and I am not getting proper response.The reply I got
from Mumbai is

Dear Mr. Nagaraju,

We value your relationship with ICICI Securities Limited
and apologize for the delay in responding to your e-mail.

With reference to your below e-mail, we would like to
inform that the AMC for BIRLA TOP 100 FUND - DIVIDEND scheme
had issued a dividend cheque amounting to Rs.1,634.59 in
favor of your old bank and had got undelivered due to
address mismatch. We request you to provide us the below
documents for updation these details and revalidation of
cheque and send it the address provided in the mail.

1. Bank & address updation Request attested by
the Banker (Banker's Verification Letter).
2. Self attested PAN card copy
2. Cancelled cheque of New Bank Account.

Ms. Sunitha Dasari / Mr. Rakesh Seth
Shree Sawan Knowledge Park,
Gr. Floor, Plot No. D-507,
T.T.C. Industrial Area,
M.I.D.C, Turbhe,
Near Juinagar Railway Station
My question is why have ICICIDIRECT not provided the
AMCs the updated linked account since oct 2007?.Now there is
no change in linked bank account in the last two and half
years and in address in the last 10 months.Then there is the
question o[censored]pdation request form me,
I have been giving mails to coo,helpesk of icicidirect and iam not getting any reply

Now I request you to take up the matter with icicidirect

dere sir i am costumer of icicidirect .com in jalgaon, maharashtra the service provider in jalgaon were i have opene my demate acc had close his shope and i am not reciving evere month details of my acc by post at my home and i have got gift of share named rel power no 54 this shares r not transferd in my acc and i have got share named gamminfra this shar r not shown in my acc so plz solve my problem. i hope u will sone take actino on my complent

Hi, I m Shafique Ahmed having saving/demat/trading account in icici bank. This multinational banks are working as a termite for Indians. The complain is this bank give us the facilities of Rs. 25000/ on a limit of Rs 1000/ to do intraday trading. But here the brokage what they charge to us is very heavy on both side. Below is the proof what had been charge to me ,I had purchase it on Rs 2252.05 the brokage charge to me is Rs 68.29 & when I had sold the shares in 2255.00 the brokage charge to me is Rs. 96.57. See the Difference hardly less then 3/ rs. diffrence the brokage difference is Rs 28.28
That means if i m doing Ten transactions and in all transaction if i m gaining profit of Rs 3 X 50 = 150x10=Rs1500 then my profit is less then the brokage what I had to Pay to ICICI that means I m paying brokage of RS.164.86x10= Rs.1648.6. In just five intradays trading session i had paid more then Rs. 6000/ as a brokage.PLs have a check as these catagory of multinational bank just come here in India to Loots Indians .As other broking firm charge oneside on intraday so y these icici had the right to charge on bothside on intraday trading. Pls. think from our point that we the customer have to suffer profit or loss plus brokage while doing trading but broking firm gets their brokrage.
23-Oct-2009 INFTEC Buy 50 2,252.05 112,602.50 68.29
23-Oct-2009 INFTEC Sell 50 2,255.00 112,750.00 96.57
Y there is no constantably with all broking firm as other broking firm charge one side brokage on intraday and also had the option of negotiation so y icici charges r so heavy as other also have to pay the goverment charges and taxes which r not only applicable for icici but also applicable for others broking firm. Even icici customer care exe. r very rude and disconnect the calls inbetween with no reasons.

I have Demat Account with the ICICI direct .
The same account is linked to the Saving account. the saving account was opened with the zeor balance opning and only for the trading porpose.

now my account has been debited by Rs. 827.00 INR on 22/10/2009.

regards
Prashant Arekar
mobile :[protected]

Hi All,

I put a redemption request to icicidirect.com online for 6 of my mutual funds on 23rd of SEP-2009
The pay out date was 1st oct-2009
I have still not received the money for 3 of my mutualfunds which was supposed to be credited online.
Icicidirect people say that my bank details are incorrect with 3 of the AMCs and there is a name mismatch while they try to credit the money online.
My question to these people is that how the rest 3 AMCs were able to credit the redemption amount to my savings linked account online if my name is wrong or some other fault from my end.
The icicidirect is making me fool for past 40 days since I raise a complaint
here are the numbers and emails contacts
Infact icicidirect.com has provided false information regarding my name and bank acounts to these 3 AMCs which are not able to credit the redemption amount to my linked savings account


pallavi.[protected]@ext.icicibank.com, latha.[protected]@icicisecurities.com, ravindra.[protected]@icicisecurities.com, "Parul Turki /OPS/ISEC/NAVI MUMBAI" <parul.[protected]@icicisecurities.com>, [protected]@icicidirect.com, [protected]@icicidirect.com, [protected]@icicidirect.com, Rupa.[protected]@icicibank.com, [protected]@icicibank.com, subhash.[protected]@icicisecurities.com, subhash.[protected]@icicisecurities.com, prakash.[protected]@icicisecurities.com, s.[protected]@icicisecurities.com, vivek.[protected]@icicisecurities.com, prasanna.[protected]@icicisecurities.com, priti.[protected]@icicisecurities.com, harshil.[protected]@icicibank.com, kamath.[protected]@icicibank.com, chanda.[protected]@icicibank.com, shameek.[protected]@icicisecurities.com, rahul.[protected]@icicisecurities.com
"Headservicequality" <[protected]@icicidirect.com>, shrenik.[protected]@icicisecurities.com,
vivek.[protected]@icicisecurities.com
Shrenik Parakh
ICICIdirect Mutual Fund Ops
022/40701125
[protected]
Pallavi -- [protected]
Mr vivek- [protected] ( chandigarh icicidirect)


Best Regards
Deepak Agrawal
DMAT: [protected] / IN[protected]