Edelweiss Financial Services — non compliance and poor back office operations,

Address:400060

I opened nre trading account as one of the ex icici advisor purushotam naik joined edelweiss. This advisor offered low brokerage and i moved my holdings from icici direct to edelweiss
Later i realized edelweiss didn't opened pis account and just linked my icici nre account to edelweiss trading account.
In between, edelweiss platform was not supportive for nre as the same was mentioned by new edelweiss advisor. I raised this pis account issues and this advisor mentioned that edelweiss lacks nre support and was meant to be for local residents. My efforts to open pis account remain unresolved as i wrote many emails, where edelweiss couldn't respond. Point to be noted, edelweiss platform didn't had capability to handle overseas number.
Eventually i decided to quit edelweiss trading. I have signed all closure documents and shared cml to transfer. They are holding my 2.8 lacs which is in trading account. I am told cheque is deposited and this has been story where i don't see end.
They haven't transferred my holding
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Edelweiss Financial Services customer support has been notified about the posted complaint.
Sep 11, 2019
Updated by Mangesh
I have similar issue with my spouse account. I have signed all closure documents and shared CML to transfer. They are holding my 1.25 lacs. Irony is trading account balance shows 1.25 lacs and when I intend to do bank transfer from Edelweiss to my spouse NRO account, balance shows 55K.
For NRO account I had more problems than my NRE account. Simple e.g. Edelweiss once debited my bank account and once debited my trading account. When asked to support, no body had clue how to resolve.
So i tried trade without keeping balance in trading account and still it didn't allowed (as I assumed they will debit my bank account)
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Dear Mangesh,
We regret for the inconvenience caused. We understand that our client experience manager has sent the required details to your registered email id.
Regards,
Team Edelweiss

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    Edelweiss Financial Services Address
    Shop no.11, Chandan Mension,Gokhale Raod (N), Dadar (W), Mumbai, Maharashtra, India - 400028
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