ICICI Bank Refund policy. Review on ICICI Bank

In February last year I decided to hold a function for my son in Mumbai. I booked a hotel for guests using the NRE Debit card of ICICI Bank. The transaction went smoothly, and I had the booking. However, due to some reasons I had to cancel the function.

Now I had to cancel the hotel bookings too. So, I approached the website and the hotel people to cancel the booking and refund the money.

The hotel people cancelled the booking and refunded it into my NRE bank account as per them. But did the money reach my ICICI Bank NRE account? No.

Reason: You cannot credit in rupees to NRE account.

But this is vague if you can book then you should be able to get refund too. Is it not? Common understanding. But it is not as per ICICI.

It has been the new year and still we are sending reminders to ICICI Bank, but in vain.

Recently when I published my grievance in websites like linked in ICICI cares came to soothe but they did some calls etc. – still the money has not been realized.

To give you comfort, what ICICI Bank does is it will send money to your account, but you cannot use. It will be idle fund as if they have done something.

The whole year has passed with the merchant/hotel providing evidence etc., but ICICI Bank has not provided a refund of the money.

When you talk to the relationship manager he says since it is an NRE account rupees cannot be credited.

Therefore, and advice to all: Never use your ICICI Bank NRE card to make bookings or use it in a place where you are likely to cancel the use/booking. You will run into problems seeking a refund.

Therefore, I don’t know what to do. At least they can ask for my NRO account and transfer the money in that. I have done this also in the past.

I had a Unit Linked Plan with ICICI. I had to change the location of the branch since we moved. Now the refund won’t be processed because the details of the ICICI bank account are not the same as when opening the Plan.

But after emailing each other for a long time ICICI Bank agreed to deposit money to NRO account with proper identification that it was me only.

Same can be done here. Therefore, through this medium, I appeal to them to do this way in the present case and refund my money.

Poor show by ICICI Bank. Please rectify.