Feb 28, 2014 09:45 AM
123523 Views
I invested in two of their products, a guaranteed savings product and an equity linked scheme (Pinnacle). It was a bad decision. Until I signed the dotted line, there rep was always there, smiling, courteous.
After I signed, no sign of him. I wanted a spelling mistake in the nomination field corrected. It was not done despite reminders. Ten months later, two months before next premium is due, my ICICI Prudential Relationship Manager comes calling. Again, the same smiles. I tell him I'm unhappy and I plan to discontinue. I cancel the ECS (automatic deduction) link to my savings account.
After that the bombardment commences: emails, sms's, and calls. They beg me to reopen the ECS. I stay firm. Two days before the premium is due, someone in their back office reactivates the ECS without my approval.
Fortunately, I get an automatic email informing me about this (presumably Prudential can't stop this from going out) and bring my account balance below the premium amount, so they can't touch my funds.
They will probably try to do the same thing next year so every year, in February, I will have to ensure my balance is below the premium amount! Can you believe it? It's like living with a thief trying to break in and you can't do anything.
I'm planning to contact the Ombudsman when I have time.
