Why I quit Reliance Money?
Or Disadvantages of Reliance Money…
· Comparatively twice the delay in opening account initially. Took 20+ days.
· Inconvenient security token
o Without security token you can’t trade.
o It creates inconvenience and discomfort more than security
· Poor trading portal
o Trading portal is not compatible with Firefox or Opera.
o In Internet explorer (IE6/IE7/IE8), it stuck most of the time. You need to re-login again and again.
o JVM installation is also required
· Poor customer service
o No response to emails most of the time
o Otherwise it will take many days to get an email response
o To email them, you need to login to very uncomfortable email account of Reliance Money Mail (Now associated with hotmail)
o No TOLL FREE Number for support. All major share brokers have toll free no. for cust.care
o When an unauthorised tele-trade occurred in my account, they simply said they can’t do anything on the matter. (Case ref:1606762)
· Inconsistent tariff – Always increasing
o They increased the AMC from Rs.50 to Rs.200, i.e. 400% increase
o Limit card turnover limit decreased from 5 lakh to 2 lakh for PR-500. i.e. 60% increase in effective brokerage
o Rs.15 additional charge was introduced per trade for limit card users
Shaheen97ATgmailDOTcom
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I am the franchisee of reliance money and I am working with this comapny for the last one and a helf year. due to the poor service service of this company towards to my franchisee I have lost near about 500 clients and I have spent near about Rs 20 lacs for my business on salaries, infrastructure, phone bills and recuring expances, I have opened near about 700 accounts out of this only 250 accounts are activated and others are not traced, and these account are not opened with in the time frame after to many reminders these accounts are activated due to this problem the clients are not too much interested in reliance money as well as with me for the poor service of the company I have to suffer a lot and till due to this reason till date I have earned from this company a sum of Rs 15000/-. please tell me what can i do for that