[Resolved]  Birla Sun Life Mutual Fund — Refund of failed transaction not received. unethical company practises

On 13th july, i tried to make an investment in bsl pure value growth plan through their online facility. But the transaction got into some error and the bsl website showed me 'transaction failed' status and prompted to make another try. I did try a second time and this time the transaction was a success. Just to make things transparent, i mailed them to make arrangements to initiate the refund of the 'failed transaction'.

But refund didn't happen and units were purchased for the 'failed transaction' also after 2 days!! Now i sent another mail them to correct the mistake happened. On 18th july, i called the bsl customer care to check the issue. They assured me saying the mistake has been noted down and the refund will be done within 4-5 days of time.

On 21st july. I got another call from the bsl guys asking me to redeem the amount for the 'failed transaction' since the unit purchases are already done and the redemption will include 1% penalty since its a 'withdrawal' within 1 year period!! How unprofessional of them to ask a customer bare the penalty of their mistake?

More over, they have even changed the 'transaction status' from database from 'failed' to 'success' to cover up their mistakes. This is real serious and quite unethical from a reputed firm like birla. How can the customer be guaranteed such frauds won't be attempted on their personal details in future?

These bsl team person keep on giving hallow promises, and each time they comes up with a different story. Are they taking customers for granted? I made an investment in your plan trusting your online facility, that's the biggest mistake i did.
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Aug 4, 2016
Complaint marked as Resolved 
The issue resolved and full refund credited to account after 2 weeks.
Birla Sun Life customer support has been notified about the posted complaint.
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