Demat account with ICICI Bank: Fraudsters and holding on to our money

Name of Complainant Savitalaxmi
Date of ComplaintJune 20, 2021
Name(s) of companies complained against
Category of complaint Banking
Permanent link of complaint Right click to copy link
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Text of Complaint by Savitalaxmi:

Challenges faced so far:
>> Escalation email sent but, with no response from anyone for weeks.
>> We created the Demat account and made our first transaction to buy shares of Yes bank (4 shares for Rs. 13 each). The money got debited from our account but the transaction failed.
We haven’t been able to make one single transaction with ICICI. We would like this to be sorted out by Monday (5/31 – 1 pm IST).
>> We were assisted by one of the executives (directed by the Relationship Manager). He requested us to allocate funds to start the transactions. We transferred Rs. 700 which was immediately debited from our Account but did not get added to the ICICI Direct account. We were assured this will be done in an hour. We followed up again after a couple of hours and we were reassured it will be fixed. It’s been weeks from the time it was debited and neither the money has reflected in our Bank account nor in our ICICI Direct account.

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Demat account with ICICI Bank: Fraudsters and holding on to our money

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