[Resolved]  Religare Trading Account (Race) — Fund withdrawal user id n106153

Whenever I try to transfer fund from my SB account to Religare trading account, it works in 1 minute. But when I try to transfer some fund from my trading account to SB account, it does not work. They simply reject the transaction without giving a valid reason. I tried to withdraw some fund on last Friday i.e. 10-7-09 but it got rejected. Then I spoke to a customer care person (Ms. Shree), she told me to wait for 2 more days for settlement since I had done some trading on that day. But after 3-4 days without doing any trading, yesterday i.e. on 14-7-09 I again tried to withdraw the same amount, it got rejected. I again called up the customer care person (Ms. Sree), she has also no clue what is wrong. Then she has placed the order from her end & asked me to wait for 24 to 48 hours!!! Is this the way a reputed company like Religare should behave????????? I've been doing trading with Religare for 2-3 years. I could not withdraw a single penny from my trading account to my SB account. But I could always transfer fund to their account within 2 minutes. Isn't it something really ridiculous???????

Moreover, I was having some trading reward points, which also I tried to redeem recently. But when I actually tried to redeem, it was showing I cannot redeem the points since I dont have enough points in credit. This is inspite of the fact that I have got enough points to redeem.

I've suffered a lot with Religare in the past while doing equity trading. Can you please look into the matter & oblige.

My request to all other customer is, please do not trade with Religare Securities as it is the worst service provider in the Securities business.