Sir/Madam,
While recognizing ICICI Bank Ltd. as my primary financial services provider, I wish to express my immense agony, financial losses, and undue harassment, I had to face due to deficiency in service, for which I demand that I may be compensated adequately, failing which I shall be free to move the consumer court within ten working days of the receipt of this notice at your end.
Facts of the case
I have two accounts in ICICI Green Park Branch, New Delhi. One is the saving bank account number-007101043153, and the other is the Car OD account number-007105003293. I paid an amount of Rs.10, 000.00 (Rs. Ten thousand only) credited to Car OD account, debited from the savings account number-007101043153. However, the amount of Rs. 10, 000.00 was debited from my account on October 11 (check number 419000, transaction number SB 8190973/11-10) but the same had not been credited to my CAR OD Account. However on enquiries from the customer care and the nearest branch of ICICI bank, I was told that the said amount had been credited to my ICICI credit card account. On further enquiry from the customer care, credit card, I was informed that Rs.10, 000.00 had not been credited in my credit card account.
The issues
Where has Rs. 10000.00 gone?
Why was it credited or supposed to have been credited in the credit card account, when the instrument was clearly payable to the CAR OD account?
Consequences for me
A check drawn on ICICI Car OD payable towards school fee bounced as I result I landed up with severe consequences:
1. Loss of reputation.
2. Heavy penalty by the school for non-payment and check bouncing.
3. I wasted two days trying to find out the check- calling customer care, visiting the nearest branch and taking the print-out of statements.
4. Innumerable phone calls to friends, customer care, legal experts to get their opinion, which included STDs as well
5. I am a free-lance writer doing projects with deadlines. I have sufficient proof to advance the financial loss for these two-days (till at the time of writing this letter).
6. When I got a phone call from school, there were some guests with me. It meant humiliation and loss of face before them, not to speak of the loss of reputation as the parent of a child at school.
7. I can confidently claim that barring one/two occasions my checks have never defaulted. The few occasions when they defaulted was again due to the deficient service provided by the ICICI Ltd. Last year my Car OD limit was slashed without informing me (Later I learnt it is a routine procedure that has been stated in an almost invisible point size) as a result my checks bounced. I didn’t complain that time in the hope that their service will improve in future. I should have at least been verbally informed of my reduced limit, or through e-mail or SMS etc.
8. The mental agony because of lack of transparency (I am not even getting my regular CAR OD statements), clerical errors and other deficiency in your service has gone on since more than a year.
9. The ICICI is reputed to impose penalties for checks returned, missing deadlines in deposits etc. over and above some other practices which on a more incisive investigation will be found against the true customer friendliness and perhaps as a matter of unwritten policy.
10. I have myself been a victim of the above (point-9) on a number of occasions. I will give just one instance to substantiate my contention. When I was given my fresh ICICI credit card number 447746984553 I was not sent the bill for the first month (I guess it was deliberate) so that the balance always remained in their favor. When I attained the maximum limit on my credit card, the payments through card should have been automatically stopped. It was not done so as to continue levying over limit penalties. (Unfair rule!!! Mr. Credit Card).
I am truly pained at the level of dissatisfaction among the customers of this bank that I infer from the bad press, and I only wish the bank earns not only money but also reputation, as it had few years ago.
I hope, I have clarified my position through this letter. Further, I claim to have stated the facts and allegations truthfully and honestly to the best of my knowledge and I am ready to produce verifiable evidences whenever needed.
While wishing to continue my relationship with ICICI bank, I expect the bank to demonstrate its client friendly attitude by offering to compensate me on the basis of a proven methodology aimed at calculating mental, financial and social damage.
Please be reminded that I will stop further payments to CAR OD and the Credit Card accounts, without any accruing liabilities as under normal circumstances, till the resolution of this case.
I hope the ICICI bank treats this letter urgent.
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