[Resolved]  Reliance Money — Regarding Limit Card Charges

RelianceMoney — DEDUCTION OF WRONG LIMIT CARD CHARGES

Sir


I have opened a Demat and Trading account in Reliance Money in august 2007 ( DP-ID[protected] & BO ID[protected] with reliance capital ltd.) with Bi-montly plan Rs. 500 on which I got 10lakh turonver limit of delivery and 90lakh of margin limit. On oct. Ist again I choose the plan 500 Bi --monthly . On Dec. 6, I choose PR-500 plan on which my limit card validity increased to 365 days along with turonver limit also increased.

Complaint no. 800068 dated 7th march 2008 and 1087914 9th may 2008 in reliance customer care .

On 18th february and in Ist march they have deducted Rs. 500 each i.e Rs. 1000. Despite of repeated complaint they have not return the amount into my account . Instead of refund the account they made another limit card report N[protected] which is fake.
When I received a mail dated 09.05.08 I am very much surprised they have changed the whole plan . Instead of Bi-monthly 500 PLAN they made limit card statement by PR-500 plan. They have done blunder mistake by which they have to answer in the consumer forum .

Why they change the plan without my permission. They are forgering with the customers.

WHEN I ASKED TO MR. SAMEER KHAN ( LOCAL BRANCH CLUSTER HEAD - MOB. [protected]) THEY SAID I AM NOT RESPONSIBLE . MY WORK IS TO OPEN AN ACCOUNT ONLY . AGAIN BAD BEHAVIOUR COMES FROM MR SAMEER KHAN AND MS. RICHA JUNEJA FROM YOUR LOCAL BHOPAL EXECUTIVES. THEY SAID GOTO ANY WHERE IF YOU WANT TO DO COMPLAINT AGAINST ME.

MR. SAMEER KHAN BEHAVE WITH ME IN A ABUSIVE LANGUAGE REPEATEDLY.
I DONT KNOW WHY YOU RECRUITT THESE TYPES OF ABUSIVE EXECUTIVES . THEY DON NOT KNOW HOW TO MAKE AND BEHAVE WITH THE CUSTOMERS.

Dear Sir, Madam

My self Mukesh kumar Nangia my Clint. Id is M0006792 I am compliant about your limit card Charges, Charged by you on dt 30/06/2008 after that I was complaint many time in your customer support service our complaint No is 1324310. Now I am totally fed up with your service. Please provide me reply about my complaint and reverse the limit card charges because I not required your limit service because I am small investor not cross the 5 lac limit. Please take action as soon as possible.

Hi,
I am Basha. Initially they debited RS 17, 500/- from my ledger as part of limit charges when I tried to recharge with RS 2500/-. Since they deducted RS 17, 500/-, my account went into negative. In order to accommodate the charges, they have sold out my dmat shares. I will been calling them regularly, but they are not responding properly. Every time I call, they say it will be reverted back. Because of their mistake I lost the shares. during this period, share price went by 10%. How can i get the my amount back & damage due to selling of the shares from my damt.

Can I sue reliancemoney based on this experience.
If possible, please let me know where to file a complaint & what is the procedure.

Thanks in advance,
Basha.

i fully agree with you your services is very nice your brokege is much lesser than the other companies . you provide a much better facilities comperision to the others . i wan to know more about your company . plese give some information about your company .
Thanking you
Rohit Acharya
e-mail www.[protected]@yahoo.com

SIR
AS I COMPAL;INED EARLIER THAT I AM NOT ABLE TO FOLLOW UP YOUR LIMIT CARD CHARGES.IN 30.09.2008 I WAS CHARGED RS 500.00 .
SO I FELT THAT I AM UNDER PR 500 SCHEME.SO I AM NOT AWARE OF YOUR AUTOMATIC DEBITS.BUT ON 1 ST DEC YOU AGAIN DEBITTED 500 BUT THE T.O IS ONLY RS 50 TO 70 THOUSANDS.
ONCE WE ENTER THE PARTICULAR SCHEME WE ARE IN THAT T.O MODE ONLY.IN YOUR SOFTWARE YOU CAN MAKE USE OF SOME BLINKINKS TO MAKE AWARE OF LIMIT CARD.

NOW ONLY I CAME TO KNOW BEFORE TRADING ONE SHOULD LOOK INTO LIMIT CARD PAGE.
SO PLEASE ONCE AGAIN REQUEST YOU HUMBLY TO REVERSE THE RS 500 DEBITTED IN MY A/C ON 1.12.2008.
HERE AFTER I WILL FOLLOW UP THE NEW SCHEME RS 1000 DEBITTED NEWLY TO MY A/C.

YOURS FAITHFULLY
PL.RAMAYEE

Reliancemoney started cheating customers; without any written statement they are acting on their own to deduct card amounts as they wish.
It is compusary for the company to give in writing about their card charges; but they have not done so.
It is better to escape by switching over other share trading companies,
Thay may get more customers similarly we get better service providers.

V.Balaji

This is absolutely true.

They promised cheapest service

I invested only 30 thousands in the tenure with Reliancemoney and they have deducted 500 limit card once and 250 maintainance charge(This was not promised) and then recently in Jan my limit card date expaired and as I was not aware of their Limit card concept, So they automatically activated Rs 1000 BiMonthly charge.

Means for no Transactions---Rs 1000 for Two months.

Are they mad?
This is opportunistic approach--This wrong.

I appeal this is not fair and is not expected from Reliance.

They should stop this immediately---and should think about other proper business strategies that does not hurt costomer.

You can not hurt customer and cheat them to make profit.

RelianceMoney — Limit card charges--Complaint against reliance money

This is unbelievable---They are deducting and charging rampant to gain revenue for the poor company

Without informing customer---My god--u cant keep money there--they are theives--and the customer care ppl are gangstars.

This is holy

RelianceMoney — Limit card charges

Hi,

I have a Demat account with Reliancemoney(My user ID NISA01A3). Reliancemoney is frequently deducting amount against limit card charges. I already renewed my limit card by Rs.5000/- for whole year on 07/06/2009. This amount was debited to my account on 10.06.2009. Now a days I am hardly doing any transaction, but they go on deducting limit card charges frequntly. They have again deducted Rs.1000/- towards limit card charges on 18.06.2009. During last two months(May and June2009) almost Rs.10000/- Reliance money has deducted towards limit card charges from my account I have already sent so many reminder mails, but no response.

Either their sofware is wrong or they are cheating people by doing this kind of activity.

I earnestly request you please look into this matter with utomost priority.

Thanks,

Niranjan

Dear Sir,

My name is Manohar Lal Arora. I have my user ID is maar0059 and my client ID is M00044005 with you. Why you are deducting Rs.500/- very frequently from my account on account of LIMIT CARD CHARGES. Yesterday on 18/06/09 you have deducted Rs. 500/- & before on 01/06/09 you also deducted Rs.500/-. You are requested to please revert Rs.500/- of 18/06/09 and change my plan because my turnover is you know approxmately 5, 00, 000/- every month. You are again requested to kindly do the same with immediately.

Onething is more, you are charging more brokerage than religare. Please quote me your brokerage rate, Brokerage rate of Religare is 1.5 paise for intraday and 15 paise for delivery. Please inform me at the earliest and oblige.

thanking you,
MANOHAR LAL ARORA
[protected]
[protected]@yahoo.co.in

Respected Sir,

Name : SANTOSH KUMAR MISHRA Client Code: S00113009 Demat Acct: [protected]

I am suffering from my Trading account from[protected] to till now. I trade in option of nifty 4200 on 06.07.2009 to 14.07.2009. But when I see my ledger report I socked totally. because my balnce gone in negative and. My daily margin turnover shown in limit card report from 07.07.2009 to till now is 74 lack to 95 lack daily. but when I saw my trade history and I calculate my margin turnover from 06.07.2009 to 10.07.2009 Its total margin turn over is 2 lack 99 thousand Four hundred 15 only ( 06.07.2009 to 10.07.2009)

I have previously purchased Limit Card of 1000 Bi-monthly. in June last week. and Its shows my turnover limit for delivery 9 lack and for margin 90 lack. and I totally complete only for margin 2 lack 99 thousand Four hundred 15 only. But its auto purchased by your software PR-500 for many times in per day from 9.07.2009 to till now.

If my margin turnover limit nil or Zero on 09.07.2009 then Why software allow me to trade Under Margin Section. As you know that PR-500 is my default preference Card for auto assignment and Its Margin turnover limit is Zero. Then why your software auto purchase PR-500 limit card for more that 40 times and till 13.07.2009 my Ledger balance is Debited Rs. 18000 for PR-500 limit card.
Please Correct it immediately its your fault and your customer care fault.

First time I started Option trading. When I asked previouly to customer care the He always told me that Brokrage charge only 100 Rupees deducted for Margin trading on One time only for Buy not for sale for option call trading. But its too much when I saw my report.

Sir I request to you please solve my problem by correct the my limit card and and ledger report. I am very poor and student.I can't suffer this situation. failing which I will suicide. this is only one solution for me.

Today I also purchase 2500 (half yearly)
Attched files:
1.- Ledger Report 2. Limit Card report 3. Trade book History Report

R money company is making fool to the public and deducting payment from our account in the name of limit card charges anil bhai itna paisa kahan rakhoge bhagwan ne tumhe itna diya hai kam se kam hum logo ki mehnat ki kamai to mat churao nahi to bahut bura hoga...

Hi,

Did any of you get back the money. They have deducted more than 34000 from my account towards Limit Card.
Please help me, how to get back this money.

This is the teqnique used to come this position, always fraud only

Reliance Money Trading Account — Unauthorised debit of Limit Card charges

Account Charges - Rs. 1, 000/- debit being card Limit on 10th August, 2009.
Sreeja Sabu Client Code : S00060448 Demat Account : [protected]

I would like to inform you that I have sold my holdings on 06th August 2009 ie 16 shares of Reliance Power ( the one and only transaction I have made in the a/c ) for closing the account with your firm after ascertaining from your office that there will not be any further charges other than already taken. But surprisingly I noticed that my account is further debited with Rs.1000/- being limit card charges, which is highly against the customer. Hence I request you to reverse the fee debited and transfer the amount to my bank account with immediate effect.

The above complaint is already emailed to your customer support and customer grievance id but there is no reply at all.

Please take immediate action and help me to close the account with your firm at the earliest.

Sreeja Sabu

I agree. I have also lost 11 thousand when I started trading in option last yr and they deducted amont without any prior notice.

I have a D-MAT ACCOUNT WITH RELIANCE MONEY, MY ID IS PUCH0014, THEY HAVE DEDUCTED 1000 IN THE NAME OF CARD LIMIT CHARGES

I HAVE WRITE THEM MAIL MANY TIMES BUT ALL THE EFFORTS ARE FAILED

PLS TAKE SUITABLE ACTION AGAINST THEM

THANKS