Edelweiss Financial Services Complaints & Reviews

Edelweiss group has an account with consumer complaints that has been inactive for 3 years approx. We want to reactivate the account but unfortunately, we don’t have any records of its login credentials. Please help us with getting the account back or we would like you to close it so that we can open a new account. Or else, please share a procedure that will help us to reactivate or shut down the account completely.

I am getting messages about some negetive account balance. I have never opened any account with edelweiss.
I once got a call and i told the caller that i do not have any account with edelweiss but still i am getting messages.
Even the email id mentioned in the message is incorrect.
I have tried to contact edelweiss but not able to contact them.
This is complete harrasement.

I am continuously getting emails and communication from edelweiss and asking me to pay the outstanding amount of rs3300 to them for account about which i don't have any information.
After asking to customer care about this outstanding amount and communication they told me to deposit the amount.
I am not know to this demat and infact i never done trading on any of the platform ever. Please help me getting rid of this unknown account and false bill which has been generated on my name.

Dear
Sir
I had filled the form of home loan (Balance transfer and top up) from edelwise dharampeth, nagpur branch few months back. No such verification done of business nor house. Suddenly present the cheque of rs 5900.00 rs and debited the amount from my bank today on 22.11.2017 and reply on contact with branch was that loan already rejected.. I ask you on what base without any visit any if my cibil score was weak than, than why not refund the papers to me that time itself. Just to complete the target given to the individuals of bank.

Its my humble request to refund my amount to me. Leaving no option i have to take legal action on the concern officer of the said branch of nagpur.

With regards

Lalit. Dhingra
+91-[protected]

Dear team,

We have loan account. Emi is 50001/-. Your person mr sunil is continuously following for emi amount, his contact no is [protected]. He call us within every half an hour & irritates us. Also used abusive language for payment. & argue for 1 rs. That we have transferred rs 50000/- against emi. He wants that 1 rs in his personal account.

Kindly look into this matter.

Regards

Shubhangi
[protected]

Unauthorised trading in f&o in my trading account without my consent, leading to huge losses. I have been travelling in the hills this monsoon, with not much mobile or internet connectivity. Certain f&o trades have been carried out in my account, without my consent by the head equity advisor leading to huge losses. I am told that since i could not be contacted, the arbitrary decision was taken by the equity advisor. I wish to complain and report about this reckless playing with the investors funds by broking houses, for their petty gains, at heavy cost to the client. I want this matter to be taken up by the consumer complaints body.

During home loan sanction and disbursment he will not able to provide door step service. Ask for documents which are already submitted to him. Give wrong information about bank and insurance. His way of talking is also not good.. He tell me that pnbhfl is a nationalize bank. You should have to take 150000 insurance premium for home loan which is 3 to 4 times more than my loan amount

My Client I/d with Edelweiss Stock broker[protected].I had purchased 100 shares of MAESTROS MEDILINE SYSTEM LIMITED on 8-12-11 from BSE exchange settl.no.1112171 and sold 100 shares on 13-12-11 from BSE exchange settl.no.1112174.
They had not deposited shares to my Demat Account(DP I/D-In300601, Client I/D[protected].
Hence, post SHEME OF ARRANGEMENT SHARES of METSL Qty-75 and MMSL Qty-200 not deposited to my Demat account.
I had complaint to SEBI Re.SEBIE/MH14/0004981/1 Dated 26.6.14 and SEBIE/MH15/0000176/1 Dated 10.1.15
BSE Ref.no.DIS/[protected] Dated 15.1.15.
After these Registrar agreed to issue duplicate physical shares.
But till to date No shares received.

Fwd: Needs Provident fund form with statement/pf no. of the tenure(employee no. 6177).

Dear team,

I have been working with your organisation previously but as being based in non branch location(srinagar) of your company, not able to claim the provident fund..Please let me know how will I be claim the same.

Also send me the PF claim form to process the same.

Also needs Pf statement of my tenure.

Regards
Manzoor zargar

With deepest regret, would like to bring to your notice the impact which your team has done and have dealt with me from the past 1.5 years. I am hereby listing the facts of the case for which I would earnestly solicit your help and get me justice.

1. My account started with edelweiss by way of ESOP funding which I got from my organization basis which last year - RM by name - Mr. Manikandan - swindled my hard earned money to the tune of 1.5 lacs on stocks without privy to my information later on which on seeking help, the case got closed and I really did not want to persue since at that time I felt it is difficult to fight against the organization.

2. My agony did not stop here, from the past 8-6 months, the new RM assigned to me - Debabrata das - has swindled my hard earned money by way o[censored]nauthorized transactions of high amounts without my acceptance and my knowledge. Though both Mr.Das and Mr. Srijith visited my office and personally gave assurances and had promised to revert/update back to me last Thursday and I waited till this saturday evening and am forced to write this e-mail.

Other than the above grievenace, I have lot of questions which are frolicking my mind:

1. Handling of customer having of 25 lacs - Does your team put guys who are just 1-2 years experience- not sure what checks and controls are in place.

2. Was there no trigger at a supervisor level when these things were happenning and why the compliance team did not even trigger an alert either to bangalore/ mumbai office.

3. I am very skeptical since both came and assured me that we can get the recovery done but there was no transparency in the discussion and now from past 2-3 days either they did not have courtesy to make a call and not sure whether they have brought to the notice of Compliance team.

4. What I have lost is around 17 lacs which was my hard earned money which was saved for my children studies and was patiently waiting till date to get this issue resolved but nothing happenned due to which I am now forced to write this e-mail.

5. Even though I had assured your team that I would be transferring additional shares worth 30 lacs to the trading account and not to sell any shares and insipite of sending an e-mail request, nothing was adhered to and my shares got sold during the market crisis on 9th of November.

I would eagerly wait for your goodselves till 15th of November for resolving my financial issues failing which I would have to take the necessary steps for getting the same.

Would await earnestly for an update, revert and resolving my financial issue as at the earliest.

Thanking you

warm regards
Amarasimha

Dear Sir/Madam,
With reference to our discussion with RM on today morning regarding closure of Demat &Trading account, he said closing request is in process till date, I could not understand why till date open my Demat & Trading account and send meTrading related SMS and MAIL but nine months back I have submitted closure form to Mr.Bivas Chandra Paul and subsequent discussion /trailing mail instant on the above subject we would like to have a confirmed to close my Demat & Trading account.
I have to no interest to trade/invest to this account . As such, please do the needful to close my account at the earliest ant stop to send SMS and Mail regarding trading/FATCA.
Thanking you,
Avijit Dutta
DP Client ID:00853091
Trading Account:60009145
DP ID:12032300
Mail Id: [protected]@yahoo.co.in

I am having both dmat and trading account with edeiweiss capitalsince 12 years. Have moved from my location in the same city of hyderabad, and submitted required documents for change of address to receive communication to my new address. But they have not taken any action so far. After all it is simple matter, but the company has no concern towards its clients.
Seshagiri rao p. V.

Certificate no. 260200/635/15/[protected]; claim no. Amp00177

Edleweiss is a pure fraud. Please do not buy any insurance from them. They are absolute cheat. The policy says that liquid damage is covered and when i reached out to them for the liquid damage they simply are putting it on me saying that it is my negligence. Nobody would do purposely want their phone to get damaged. I am without my phone for 3 weeks. Their email address updated on the website is incorrect. Nobody answers the customer service number. There is no escalation matrix published anywhere. I want to take it to the next level however they have not been telling me who to contact for the complaint. They are absolutely rubbish and nonsense.

Please do not fall in their trap and do not buy any insurance from them. Its a waste of money.

I want to raise my concern about my claim status clm0015627, tttms2617245

I submitted all original documents to edelweiss insurance comp.. And they submitted to issurance company 3 month back (Document submited in 9th aprial). As they telling that no response from insurance company, the process is running since 3 months, when i call to edelweiss telling same story that submitted to national insurance company wait for two days, like that since from 2 month. I did complain against edelweiss in consumer complaint forum but still not able to get reasonable answer. I did contact mobile store through (Mobilestore. [protected]@edelweiss.com) not did't get any reply on this

This is getting really frustrating as an end user. I have tried to be patient with your company and i also tried reaching you at your contact number, but to no avail, nobody picked my phone, and i didn't get a call back either. I am not sure you understand the problems of an end user who has financial constraint

This is regarding claim number - clm0013775. I have bought repairing insurance on my iphone 6s in last november from edelweiss through a mobile store. I have filed a claim in january 2016 for the repair of my broken iphone. It's been 5 months, i have not received insurance claim money back. I have been following up with the customer care since the beginning. The customer care guys are not helpful. They don't know how to proceed with the claim. They only suggest for one more week again and again.

As per the policy i ahev got when i bought my mobile, it was mentioned that customer need to intimate within 10 days, now they are saying customer has to intimate the company within 48 hours of the incident. Which is no where written is the ground of rejection.
Here is the summry of events as per them
1 smcl02887 declined 21 apr 2016 03:58 pm
2 smcl02887 in process 15 feb 2016 11:34 am
3 smcl02887 original documents received - complete 9 feb 2016 01:27 pm
4 smcl02887 document awaited 2 feb 2016 11:53 am
5 smcl02887 query document awaited 2 feb 2016 11:22 am
6 smcl02887 document awaited 27 jan 2016 11:24 am

Here one major issue is, when i called and ask for the procedure they didnt mention 48 hours at all, i mentioned all the things in my document, and they did review also, they disnt reject the claim at taht point of time, after 2 and half month i am getting such message.

This is highly unprofessional, it is just like making use of such loopholes and fooliong the customer.,

As per the policy they should settle the money within 20 working days from receiving all the documents and approval
I have a claim No CLM0014136
submitted on 3rd Feb and its in progress from 8th Feb but till now no update even raise complain with Edelweiss
Also whenever I called them they never transfer call to there higher authority else they cut the call every time.

Dear sir.,
We are applied the home loan in edelweiss finance ltd Salem.on 2014 end of month., we paid for 24000 for loan document and other fees.we asking loan amount 15 lacks but they are passed 784000 only .so we canceled the loan .but they are not return my initial amount.they said if you cancel the loan we return your amount, but now they said amount not came from company .

Home loan application number:48676(Salem)
I have loan sanction order

My name is Abhishek Arora and I have a trading account with Edelweiss no 727389.

I opened my account last year with Edelweiss though one of the company's representative. At the time of opening the account I gave two cheques one for Rs 60, 000 for trading account and one for Rs 40, 000 for advanced brokerage. I was informed that my advance brokerage limit will be lowered after a year of relationship which I agreed and also if I am not satisfied with the services I could close the account and will get my advance brokerage refunded. I would also like to mention that full service tax was deducted on Rs 40, 000 even though I had not made a single trade. On asking the edelweiss representative he told that if you opt for closure any time the service tax will be adjusted against used brokerage and rest will be refunded with the money.

Now after one and a half years of successful relationship with Edelweiss I asked to lower my limit for advance brokerage to Rs 10, 000 as which my current RM is saying it is not possible. On top of that she told me that the advanced brokerage cannot be refunded even if I close the account.

The person who opened my account (Devendra - [protected]) has left the company and the current RM is saying its company policy we cannot refund. I am totally frustrated at this response from the company

Now this is plain cheating. I simply trusted and opened the account on the basis of good faith and now the company is simply backtracking. On what basis company can keep my money if I close the account. I am deeply unsatisfied by the way you edelweiss has handled this issue and I would now don't like to continue my relationship further with. I would like to close my account and and you refund me my balance money.

I lodged a complaint at the helpdesk in November and they have mailed me three times that they are looking into the complaint and not solving it. First they told me it will be solved by end of November, then end of December and now they mail me again saying they are still looking. I even went to the office in Delhi and they said they will solve the issue but now nobody is picking my phone. What to do?

I want to close my account and get back my money but how I am not sure. Please anybody don't trade with Edelweiss they are not good company and will cheat you

On .25th Nov'15- I have sold Rs.16, 500/- worth of Shares & On 26th Nov'15- Edelweiss process the payment.and thereafter, the payment is not credited.Despite several phone calls, mail, etc., finally, they told me that the payment is sent thru' cheque. My questions are:- PAY IN are accepting thru' on line transfer but PAY OUT are disbursing thru' Cheque. Why there is difference? When the Edelweiss need fund they will accept ONLINE but When we need fund Edelweiss can send thru' cheque to the registered address which would have been changed often due to shifting of residence. I understand from Edelweiss point of View- The customer should changed their mind set and to forfeit the withdrawal.that's why the funds pay our are dragging... I am getting dividends rarely automatic credited to my account which means NEFT enabled. As per SEBI- Any unused funds should be transferred to their respective account by every quarter. STILL THE AMOUNT IS NOT CREDITED -As tough the NEFT enabled form has been sent thru' mail & courier but of NO USE. LACK OF TRANSPARENCY AND TRUST. POOR & INEFFICIENT MANAGEMENT INEFFECTIVE COMMUNICATION. POOR HANDLING OF CLIENTS.