[Resolved] India Infoline Finance [IIFL] — Regarding the AMC imposed on my trading account even though signed up for lifetime AMC of Rs.555/-

jijojagadeesh

from Bengaluru, Karnataka

Address:	Mumbai City, Maharashtra, 560093
Website:	ttweb.indiainfoline.com/Trade/Index.aspx?ReturnUrl=%2ftrade%2f

Hello Team,

I am a very old customer of IIFL and signed up for a life time free membership of 555 at the time of joining, But from last few years I am noticing that amount of ~Rs 45 [Rs.40 + tax] per month was deducted from my account as monthly AMC charges and now this is one time fee of Rs.450 without any notification to the customer.The billing for this financial year has been done in the month of May 2016.This is completely breach of agreement against to what i have signed up and have the snapshot copied for reference. I have called them up several times in the past and raised this with the grievances cell and now they came back saying - "please note we are reversing Rs 555/- as the scheme life time free is discontinued". My request is to refund the entire amount deducted since beginning in the name of AMC and wanted to continue with the life time free membership as i have signed up for it.

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May 11, 2017

Complaint marked as Resolved

India Infoline Finance [IIFL] customer support has been notified about the posted complaint.

Verified Support

Sep 14, 2016

India Infoline Finance [IIFL] Customer Care's response We regret the inconvenience, we would arrange a call from our concerned team.
Regards,
IIFL

Sep 18, 2016

Updated by jijojagadeesh Hello Team,

Its been close to a week now and all the IIFL team has done so far is trying to convince me instead of resolving the issue, My request is very straightforward, As a consumer when i have signed up for a life time AMC, please allow me to continue with the same and all the new rules/policies should be imposed for newly signed up customers. This is practise followed by many other vendors and why IIFL cant follow this ?
I am sure this is not just with me but with many other account holders and wanted to raise this concern to get the top priority so that these fraudsters dont continue the malpractice anymore.

Thanks
Jijo

Oct 04, 2016

Updated by jijojagadeesh Team,

Any help with this pls. ?

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Comments

purvish2000

from Mumbai, Maharashtra

IIFL
Andheri west branch
Senior Officer Sandeep Bhatt, with Rahul will use your trading account without your concern. and even they use your saving account without your concern. when you ask for the clarification they will miss guide you
so pl. dont open any trading account in IIFL.