Hi,
My Savings Salaried account was opened in the year 1997 by the organization where I joined. Typically when salaried accounts are opened in any organization, a form is given to the new joinee as per the process instructions provided ny the relevant banks corporate executive who manages the account and queries for that organization. With vague memory as I remember, this ICICI Corporate Account executive gave me a form and took signatures and photographs. No details are provided as to the nature of the account except that this is a salaried account with a zero balance feature as we are associated with an organization.
Advantage: No minimum balance needs to be maintained as Salary credit would be at regular intervals.
I worked with the organization for four years and went on to join another place which had their salary accout with some other bank. I could have closed the account but went on to hold the account till date i.e. Jun by maintaining a good account balance much above the minimum balance accepted by the bank, as per their rules.
For seven years till Jan ICICI bank sleeps over the so called "PROCESS" which ideally is put in every organization to help customers or any operation and NOT make it a hindrance by "Follow the process for the heck of it".
In Jan I receive a letter stating that there have been no salary credits in my account and I am supposed to convert it into normal savings account by submitting certain documentation within a definite period else the my account will be blocked.
Do not know why they need to do this - If it was just for the heck of following process!! - Well it is acceptable if the rules related to salried account were briefed before hand but while selling corporate accounts this is not taken care of.
I call up their phone banking services with regards to the letter and they inform me that I need to submit the documentation as a process but my account would not be blocked as I have been maintaining my account balance much beyond their expectaion.!!
I doubly check this with the phone banking executive and he assures me of the same while I can submit my documents at my convenience!
To my fortunate or unfortunate luck, I join another organizaton that has a tie up of salaried account wit ICICI. The so called ICICI corporate executive who takes care of salaried account corporate services gives me a orm. When I mention about an already existing account with ICICI, he gives me another form taking my signature and mentioning that I need not open another account as the name of the corporate will be changed and the same account can be continued to use as a corporate salary account.
As a customer, I trusted the executive. Threeconsecutive salaried credits and bank is happy. No reminders or letters for resubmission of documents!!
I leave the organization in threemonths to join another place and no salary credits take place for the month of June and July.
But I maintain a balance required.(Ideally, its a quarterly minimum balance!!) Jun my minimum balance goes much below their expectation.
I was expecting funds in my account while I get to know that my account is frozen!!.Without intimation!!
When I call up Phone banking services, I am told, that I need to visit the branch and submit documents and there has been no salary credits since 2001.When I check with them of how cold they do this without intimation when there have been credit in the month of March, April, May they have no answer but there were no credits in June and July!! To top it all they tell as per process, the letter wold have reached me which is three weeks before freezing of account!!I tell them I have not received their letter, if they could let me know when was the letter despatched AND NOT details of whether I have received!! They tell me that the branch would have sent and they do not have any details... another big disconnect of the Phone banking and branch services despite everything being centralised!!
I also get to know that it is the customers duty to inform if they have left the organization and convert from salaried account to normal savings account..Which is never briefed by any of the so called corporate executives of the bank while selling corporate salaried account services.
I would definitely not recommend anybody to have any services taken from ICICI because o such a nasty pathetic services that only harasses the customer. I had to arrange for the funds to get transferred in another account!
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