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ICICI Hi-save POA account application failure

Last post Fri, Jun 19 2009, 12:11 AM by POA. 2 replies.
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  •  Thu, Jun 18 2009, 12:38 PM

    ICICI Hi-save POA account application failure

    After more than two months of beating about the bush, ICICI will still not recognise my Enduring Power of Attorney insisting that it is the more recent 'Lasting' Power of Attorney. I have finally abandoned hope of investing my mother's money with ICICI and am trying to withdraw my application.

    Consequently my mother has lost substantial interest on the proceeds from the sale of her flat and I have been driven almost spare by email respondents and telephone operators who do not or cannot answer queries. The telephone people pull the plug when thay run out of apologies. I was advised to fax at one point but received no reply to that at all.

    I have no idea whether it will be possible to find out whether they have fully deleted my mother's personal and financial details from their system either. High interest comes at a price! I can't afford it.

    POA
    • Post Points: 20
  •  Thu, Jun 18 2009, 5:29 PM

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    Re: ICICI Hi-save POA account application failure

    POA

    I am sorry to hear of your troubles with ICICI but you should search for some of the longer threads regarding ICICI on this forum going back I think to late 2008, they make interesting reading.

    I see your last comment about High Interest coming at a price (causing so much hassle) and fully agree. I will possibly get slated by some ICICI fan on here but I am thick-skinned and can take it.

    Must admit, until early 2008 I was attracted to higher interest rates but have since moved my savings to what I class as "safer" accounts, not as much interest but easier to sleep at night. ICICI'S credit rating the last time I looked was BBB- with one of the ratings agency and this was the same as Bradford & Bingley before it was split up by the government.

    With the added work involving a POA I would consider a bank or building society with a high street presence as they are more likely to have dealt with a greater number of these, and you can talk to someone face to face at a branch.

    Hope you get it all sorted out soon.

    • Post Points: 20
  •  Fri, Jun 19 2009, 12:11 AM

    Re: ICICI Hi-save POA account application failure

    Thank you! Just needed to vent some spleen while finding another place to store the loot.

    West Brom insisted that my blind mother write a letter saying she was in full possession of her faculties, except sight. As I had to write it, read it to her and sign it for her myself, this seemed like a singular waste of time. But it worked! No accounting for stupidity in the financial sector, I learn. Almost a relief to have no money of my own to worry about, yet.

    POA
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