[Resolved] Karvy — Missing transfer funds and delayed payment charges (T+2)

sonalsengar

from Mumbai, Maharashtra

Address:	Bangalore, Karnataka, 560076
Website:	karvyonline.com

Hi Team, I made a fund transfer of INR 20000 in my karvy account on 17th November which is still not credited in my ledger account and despite my multiple mails to '[protected]@karvy.com' and '[protected]@karvy.com' no one is responding to solve the issue. For my second point on, delayed payment charges, Karvy is charging me for T+2 delayed payment charges without any intimation or consent from me on any such agreement. Till date, I haven’t been informed of any such communication that on T+2 I will be charged delayed payment charges. Moreover, your online portfolio system doesn't reflect the current picture of my holdings (I have given multiple calls to your call center about this issue and always have been informed that your online portfolio has technical issue and it is not showing the actual holdings). With no communication on what is happening to my stocks, deficit funds and T+2 charges; how do you expect me to be paying these charges to you? Can you please look into the issue and give me a resolution at the earliest? Client ID 10010319

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Complaint marked as Resolved

Karvy customer support has been notified about the posted complaint.

Verified Support

Dec 31, 2015

Karvy Customer Care's response Dear Customer, Greeting from Karvy!! We regret the inconvenience caused to you. With reference to our telephonic conversation, we would like to inform you that amount transfer on November 17,2015 is not updated due to technical issue, we regret the inconvenience caused , but same amount is already credited for which Delay payment penalty charges has been debited. Delayed Payment Penalty (DPP) charges will be debited as 21% per annum basis on account of delays/failure by the client in meeting the pay-in obligations on the scheduled date. To avoid the charges, you need to clear the debit on/before scheduled date (that is, on/before T+2 on delivery purchases in excess of balance in ledger) and we would also like to inform you that DPP charges details is already mentioned on account opening form. So, as a service gesture we reverse the DPP charges as you were not aware of these charges. We assure you the best of our services and look forward to your continuous patronage. Regards, Team Karvy