The above title is incomplete. You must avoid ICICIdirect.com to save your money as well as to avoid high BP.
Well if you have already dealt with ICICIdirect, then you would know what I mean. In case you have not here a shortened version of the long list of "Whats wrong with ICICIdirect"
- Highest brokerage. I never seen ( or even heard ) of any brokerage house charging as high as the ICICIdirect.com does 0.75 % !!! You will lose almost 2% of the transaction value on a delivery-based buy and sell transaction.
- Website. This is second most important reason not to use ICICIdirect.com. Apart from regular downtimes for the ICICI website, any day the sensex loses heavily, the website would be down. There are so many users and their servers just can't cope up. Reminds me of the tag line "Part of a crowd or Stand apart".
- Customer Service. How would you like your hair cut done by an untrained professional. Can't imagine how would you look? Well similar is the case with ICICI. Most of its personnel ( atleast those who interact with the customers ) are fresh out of college, in this job just to earn quick money. Ask about the procedure for resolution of an issue to 3 different people, you would get 3 different answers ( wanna bet?? ).
- Still not satisfied? Want more reasons not to deal with ICICIdirect.com? See the review on mouthshut.com here.
I think that was enough bashing ICICIdirect.com for today. Will write, next article soon.
Sunday, December 2, 2007
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Thanks for the advice. I was considering opening a demat account. Now ICICI is no longer an option.
ReplyDeleteWith which bank do you have your demat account with?
I use HDFC securities.
ReplyDelete