ICICI Bank
- Thread starter Papi Chulo
- Start date
My E. Indian friends banks with them. They love it. Higher rate, fewer service charge. Ones with family back home, it's easy to sent money home.
HSBC should learn from ICICI & ING.
BTW, save your money...
HSBC should learn from ICICI & ING.
BTW, save your money...
Altamira has 3.5% savings accounts locally offered so you don't have to deal with time zones and thick accents.
to-guy69 said:don't have to deal with time zones and thick accents.
So you deal with ICICI often and that is your finding?
to-guy69 said:Altamira has 3.5% savings accounts locally offered so you don't have to deal with time zones and thick accents.
I have dealt with ING, a foreign virtual bank operating in Canada and have never had an issue with time zones or accents.
Fuck ING
ING just raised their rate to 3.15% but this is still 10% less than Altimira and ICICI and way below the BoC rate of 4% which may be 4.25% next week.
Time to move cash out of ING.
ING just raised their rate to 3.15% but this is still 10% less than Altimira and ICICI and way below the BoC rate of 4% which may be 4.25% next week.
Time to move cash out of ING.
They are legit, this is their ADR listing on the NYSE:Papi Chulo said:
http://www.nyse.com/about/listed/lcddata.html?ticker=IBN
I personally have a HiSave account with ICICI. It's good since I'm making quite a bit on my earnings, and they paid me $20 when i opened the account.
The only problem I have is that at times the Debit Card isn't recognized at retailers since it is a new bank and I'm guessing it hasn't been processed through all the systems? It's quite embarassing at times because the only thing the cashiers say is that it is an "invalid account" and they think I am up to something, and some of them can be pretty cocky about it.
Once they are more well-known and fully processed into the Canadian retail systems then they will be a definite top-notch bank to place your earnings.
Another problem is that there are only three locations serving A LOT of customers, so you can imagine the traffic in these three banks during rush hours, and also when you need quick cash and there isn't an ICICI bank around, be prepared to pay a $1.50 service charge at a TD Bank (the most commonly seen bank around the GTA).
The only problem I have is that at times the Debit Card isn't recognized at retailers since it is a new bank and I'm guessing it hasn't been processed through all the systems? It's quite embarassing at times because the only thing the cashiers say is that it is an "invalid account" and they think I am up to something, and some of them can be pretty cocky about it.
Once they are more well-known and fully processed into the Canadian retail systems then they will be a definite top-notch bank to place your earnings.
Another problem is that there are only three locations serving A LOT of customers, so you can imagine the traffic in these three banks during rush hours, and also when you need quick cash and there isn't an ICICI bank around, be prepared to pay a $1.50 service charge at a TD Bank (the most commonly seen bank around the GTA).
Also, CDIC protected. ie: Should they ever go under, up to $nK ($30K?) deposits are protected.RogerRabbit said:They are legit, this is their ADR listing on the NYSE:
CNBC is recommending ICICI stocks to capitalize on India growth. It's their 2nd largest bank.
ING is dutch. ING Canada is making tons of $ for parent company, while ING U.S. money losing venture. Canadian like Dutch tend to save more. ING group is huge in Holland. Should see their branch & high-tech ATM. Save your money...
$100k.goodtime said:Also, CDIC protected. ie: Should they ever go under, up to $nK ($30K?) deposits are protected.
Why does it say for online customers only?mannyfresh said:I personally have a HiSave account with ICICI. It's good since I'm making quite a bit on my earnings, and they paid me $20 when i opened the account.
Another problem is that there are only three locations serving A LOT of customers, so you can imagine the traffic in these three banks during rush hours, and also when you need quick cash and there isn't an ICICI bank around, be prepared to pay a $1.50 service charge at a TD Bank (the most commonly seen bank around the GTA).
Check Quality
ING has a credit rating of AA (stable) while ICIC has a 'junk bond' rating of BB+ (pos)
Dont be so quick. Notwithstanding Canadian DIC protection (for small investors), who wants to get tangled up in a bank failure?Malibook said:ING just raised their rate to 3.15% but this is still 10% less than Altimira and ICICI and way below the BoC rate of 4% which may be 4.25% next week.
Time to move cash out of ING.
ING has a credit rating of AA (stable) while ICIC has a 'junk bond' rating of BB+ (pos)
Sooner or later they will come under increased scutiny, I would hope. Remember 1983 when " Greymac" was paying high rates out of line with everyone else. That was the vehicle to get the $250 Million they needed for the apartment scam. Cost a lot of money to bail out that failure when the cards collapsed. There is a reason that they have that status and I hope that CDIC are paying attention.
Could you provide a link to these ratings and has ICICI ever defaulted on any bonds?Bear669 said:Dont be so quick. Notwithstanding Canadian DIC protection (for small investors), who wants to get tangled up in a bank failure?
ING has a credit rating of AA (stable) while ICIC has a 'junk bond' rating of BB+ (pos)
In any case, I have no desire to buy their stock or unsecured bonds and I have no problem with putting up to $100k there.
S&P Ratings
http://www2.standardandpoors.com
Have no idea if they have ever defaulted, but failed banks rarely re-structure, and it is not so easy to get a new rating after hitting 'D'. As long as you dont need your $ fast, you are of course safe at $100k with CDIC and Canada's 'AAA' rating.
Malibook said:Could you provide a link to these ratings and has ICICI ever defaulted on any bonds?
In any case, I have no desire to buy their stock or unsecured bonds and I have no problem with putting up to $100k there.
http://www2.standardandpoors.com
Have no idea if they have ever defaulted, but failed banks rarely re-structure, and it is not so easy to get a new rating after hitting 'D'. As long as you dont need your $ fast, you are of course safe at $100k with CDIC and Canada's 'AAA' rating.
What is BoC?Malibook said:ING just raised their rate to 3.15% but this is still 10% less than Altimira and ICICI and way below the BoC rate of 4% which may be 4.25% next week.
Time to move cash out of ING.
Acheiva Financial (www.achieva.mb.ca) and Outlook Financial (www.outlookfinancial.com) both pay 3.85% on savings acounts. Both are not covered by CDIC.
