Kotak Securities Complaints & Reviews

Fwd head of branch kotak securities:
Pl courier to residence a filled in form mr vivek as discussed.
You are my kotak relationship manager. Kotak cannot have a runner visit after 18days of phonecalls and requests.
Branch head mr monga s pa has assured call back multiple times, but he ignores landline and official mobile requests for help in linking adhaar. I am receiving from a major accident, post 2 plastic surgeries in august and live alone in gurgaon as is well known to mr harsh monga. Yet he does not send a runner entire nov 2017 to date with required form to collect attested adhaar. I have been told to take a cab to sector 14 which he knows i can't with my injuries. As agreed by relation manager who is not sure of his profile or my a/c under his care, a filled in form would be couriered so my sister can collect from dlf gurgaon and post to kotak securities from her new delhi defence colony p. O. As mr monga and vivek dang maintain there is zero facility to collect or send anyone in these months.
The basic facilities are impossible to avail, calls are abruptly cut with promise of a call back and 2 full month's have lapsed with no cooperation from sector 14 gurgaon kotak securities to link my adhaar.
You will note that my request is due to an exception of accident, and residing alone. Its the norm lately to cut calls or not take calls at kotak securities. I m sure you can ensure pleasant services with some courtesy of branch head mr monga or the relation manager vivek dang who is not aware till dec 2017 that my a/c is in his care. He s still checking!
Thank you. Looking fwd to basic services.
P. Chadha 8gvt8

Its been almost 4 weeks i have opened an account with kotak securities and since then i am following up with customer care and the kotak executive who helped me in opening and account to help me with the demo of your application on web and app but they are least bothered. I am really disappointed with all the false promise and the kindly of service provided by kotak even though paying more then what other banks were asking to open an account. I think i did a big mistake opening the account.

1. I bought shree for inr 325000 and sold same and been charged an amount 15000 for buy and 15000 for sell which is almost 10% of my share value. I never signed for this much commission and not ready to give any proof fare several written communication.

2. I have been charged interest for more than 1 day delay in margin plus trade but when comes to delay from kotak for more than 5 days no interest is given.

3, cash sell credit takes more than weeks to settle when any sale is done after tuesday. No interest for delay
4. They need twice approval for crediting balance to my account once by system and once by finance person.
5. Bonds are disappeared without any notice from dematerialised and not taking any responsibility for such disappearance.

It is utter disappointment that an established company as yours doesn't concern themselves with the consumers/clients' grievances. As none of the managers are willing to get back on the following.

My kotak demat account took 4 long weeks to open (And not 3 days as promised) and that is not all. This was 2 months back. I received fake assurances from a multiple of your representatives. It is really unfortunate that you do not encourage us to invest, but your sales guys just need to match their targets. What is really surprising is that i haven't had a single account manager visit me, and its been 2 months and "i have not yet received my kit" how do i transfer funds to and from my account?

Please find enclosed herewith the blue dart tracking id of my kit, for which i received only "attempt made to deliver" msgs and nobody called to confirm the location, when infact i was at the location for the entire duration. For this i hold blue dart responsible, however the kit had to be redirected to me instead of vanishing in thin air.

I anticipate the automated response i am supposed to expect, but i hope its not the end of my complaint, and some action is taken up immediately

Client id :td1g0

Account no.[protected]

Dear bank team

My name in anand and i must tell you that i had to left my job due to my stomach medical treatment in my hometown. I cant go anywhere. Now days i am facing this crucial problem.
I have no job this time but still i am getting the mesgs regarding my dmat account status. Please dont try to harass me... Its my request to close my account. Please understand my condition what actualy i am facing now days.

Thanking you

Earlier i already sent you mail regarding closure but still... Its working... I attached my debit note
Details with this mail. Please see and take an appropriate action on it.

Please dont try to harras me

Before 4 years a representative convinced be to get a Kotak securities account for trading saying that I can close my account when needed and I have to initially deposit Rs 1000, which I can withdraw later. But found to my surprise that I had to maintain Rs 1000 minimum and I cant withdraw. After that I felt embarrassed and felt its my mistake to sign everywhere the representative showed. I thought it was ok to have a min balance Rs 1000 and did some very less trading and kept it aside for nearly 2 years. Now I found that I have a negative balance of Rs 1200., which I have to pay. I tried to close the account to stop unnecessary charges. I visited near branch near Anna Nagar (Chennai), for closure of account, they said they dont have my details, requested me to go to another branch which is some what far. So I contaced customer support, found the balance amount to be paid and posted a check with completely filled closure form (This being done twice), they are still rejected on unground basis. They are returning back the courier
with the below reason
1) first time -- Insufficient bebt

2) " we request you to provided bank statement along with non personlised cheque"

I dont know what they are trying to convey. I found am really finding a difficult time with Kotak. Service is really bad. They will charge you and will not close the account also. I even requested to freeze/dormant my account. Please find the attachment

Name: lt col (Retd.) bharat shahane.
Kotak securities acct id: 2jc77.
Subject: acct closure.

A - history: my acct was originally opened several yrs back in pune and transferred to gangtok last yr.

B - situation: since i do not use this acct much i decided to close it.

• june 17: i requested kotak securities (Ks) via email to close acct. I was told to visit nearest branch personally. I visited pune branch and requested acct closure. I was given a couple of forms to fill and and told to approach gangtok branch for closure.
• aug/sep 17: i spoke to gangtok branch and requested closure. Matter was not progressed.
• oct 17: i personally visited gangtok branch twice. Submitted all reqd docu for acct closure by hand. Additionally signed a couple more of docu they asked me to. I was told docu will go to siliguri branch for closure.
• 2 nov 17: i was informed by phone that there are issues and i must visit siliguri branch to resolve matters. I visited siliguri branch in nov 1st week. Again signed some more forms. Ks rep wanted a cancelled cheque but i do not hold any cheques so i submitted alternate proof of bank acct. Docu were not found acceptable. I brought proof of bank acct on pen drive, and was told by ks branch rep he cannot accept my pen drive. So i gave siliguri kotak securities manager my bank tele number and asked him to call my bank and confirm my acct but he declined. I then requested him to get the bank details from ks pune branch where my acct was originally opened. He took no action to this end. Finally disgusted with such negative attitude i told him to just close my trading acct and dmat acct and give what ever balance in my kotak securities acct from sale of shares to charity or any temple.

C - current status -
• 7 nov 17: i get an email from sk saying my application to close acct has been rejected for want of docu. Which docu? I don't know because the mail is not specific.

• my response: to close my acct i have visited 3 kotak securities branches (Pune, gangtok, siliguri) in 3 different states at considerable personal cost of time and money. I have given all docu asked for, except a cancelled cheque which i do not possess nor consider is necessary if all relevant info available on cheque has been submitted to ks. (As an alternative ks can always issue me a cheque instead of transferring the funds to my acct.) i am fed up with ks’s negative attitude. I feel i have to seek legal advice for undue and deliberate harassment by ks if matter is not resolved by ks in the nearest future.

• addl info: i am having similar problems in acct closure of my late father lt col (Retd) arvind w shahane, who passed away 4 months back, aged 90 yrs. Ks personnel in pune insist i submit his registered mobile and email id.in his life time my father did not own a mobile nor even touch a computer. So how can i provide data which does not exist except on kotak records possibly filled in by an over zealous kotak employee based on what inputs i wonder. I hope the picture is clear.)

• conclusion: kotak securities has all the docu to close my acct 2jc77 with immediate effect. They should do it. Period.
Thank you.

Sincerely,
Bharat a. Shahane
Lt col (Retd.)

I initiated opening of your 3 in 1 account (Saving, demat, trading). From the moment i gave my kyc and initial cheq you guys have stopped responding. I kept trying to find out if my account is oen yet. Just cd not get to anybody. The account opening agent aquib doesnt take my calls or respond to messages. At last i have got mails saying account open. Gives my crn and login ids. How do set my online banking. Nobody can tell me. The kotak securities mail prompts to start trading but the password gives an error (Memory error). I have tried your customer service number a ton of times but you are cheap that the ivr just blocks anybody who doesnt have a tin or debit card. I dont know how to get tin, when will i get debit card. Please enumerate the procedure to close the account and refund my money. If this is how you treat new customers im # scared to trust you with my money. My crn is[protected].

Hi, i am siddhesh salve
My rm is suresh singh. I have avail the plan for no brokerage for 1 year when i trade since i have paid charges while opening my dmat account. Still i am been charged. While asking to mr. Suresh singh on several occasions, he has never responded. Kindly change my rm. I am still waiting for the answer to my question about brokerage been charged.
Kindly escalate this to highest priority.

Hi,

I have applied for gic ipo via kotak securities and not received any email or communications from kotak securities after registration but the funds were initially blocked and then deducted from kotak bank ac referencing client id q7du0 of kotak dp, gic ipo application no: 16801608.

Till time, finding pretty hard to get back my monday amounting 27745.

Incorrect sms received from nse and bse that kotaksecurities has reported x fund balance and x securities balance with email i'd as [protected]@notprovided.com when in fact i do not have any trading account with kotaksecurities. It looks like someone has incorrectly submitted my contact no with his/her account. Pls rectify the same at the earliest. My contact no is [protected].

1. I have applied for godrej agrovet and even till today i. E. 16th oct 2017 i havnt got refund. Even none of the shares are alloted then also amount not refunded.
Instead of this my other colleages got refund on the same day friday
If their is such type of process in kotak then i will withdraw my account.
2. Second thing your whole kotak securities site is not at all user friendly.
None of the page looks good not even proper graphics,
Instead of this check other competitors site where you will get proper reports proper pages with fruitful details and also they are 100% user friendly.
3. Third thing your login button while logging into to kotak securities is not working through an enter, instead we have to press the login button.
Such a big named kotak has these huge loop holes which is not expected.

Kindly improve it or i will withdraw the account and will post all the above with screenshots mails on public support sites.
If i will not get refund today eod then i will withdraw my account tomorrow.

Hi,
I am having kotak securities a/c fidp7 since years.
When i have opened my a/c in the year 2008 and was doing good.
At the time of opening of my a/c it was conveyed it's life time free ac and there will no charges in my a/c.
Some how i was doing trading and my a/c was operational.
For last 3-4 years i have stopped trading and inspite that i have been charged for from some services where i have not asked and activated any services.
They have liquidated my shares.
I have sent a mail regarding the same on 5th aug 2016. But haven't recieved any revert form them.
Till date they are charging and accumulating the balance.
I hope they should resolve this.

Hi
Please solv the complaint no. 1737743 as soon as possible. Because i want my cash back. And don't close my account i am ask for call centre hi told you maintain 10000rs but i agree that but now please give my deducted amounts.
And please provide mi 27 bkc, c 27, g block, bandra kurla complex, bandra (E), mumbai, maharashtra, india - 400051this bank phone no. And mail address.

Thanks you

Sir, i deepak chauhan. R/o u - 245 mangolpuri new delhi 83.
Complaint for irresponsible of your employees. Why they are opening bank account without verification of address.
Customer not giving proper information while opening account what is the reason behind. Take action or close such a. C.
On 06 oct 17. Credit card delivery man came to my home to deliver credit card. At that time i came to know about this account in my address.
Credit card was in the name of hema kumari
Who will be responcible if she use card and will not deposit back used amount to the bank. Where you will search such fraud a. C. Holder.
Kindly enquired about a. C. Holder as soon as possible and change address or close a. C.
Name, hema
My add, u-245 mangalore n, delhi 83
Thanking you

I have raised so many complaints regarding the demat account charges, which i am having account with kotak. One of the kotak employee forcefully taken this account from me stating that there is no charges will taken for any reason. I have not made any transactions in that account but the employee deposit rs 1000 in that account to meet his target now they are charged rs6200/- for some kind of charges. That employee cheated me like anything. And the company kotak, will take any action regarding my complaints.

Placed in a request for a trading ac and no update for more than 3 days. Sent email to customer service, called them. They say will get back with update but never a call back received.

Request was placed after several emails received. I ama genuine hdfc customer, but looking at the benefits i went for kotak and a huge disgrace on service. Rs.500 was deducted as a subscription fee.

I have written complaint to singh. [protected]@kotak.com,
Shraddha. [protected]@kotak.com (My account's manager) about query of wrong brokerage billed for the transaction done in aug in mail dated on 29th aug however there is no response by them on same. No call for explanation of how its been applied.

Today, interest is billed in account for aug'17 and that too is incorrect as i have been told by my accounts manager that its 18% and billed on day basis if payment is exceeded by 2 days, as per this rule interest applied in my account stands wrong.

Need clear explanation on interest and brokerage or else i have to shift to other security firm as kotak seems very unprofessional in conduct with the client and money matter is taken very lightly..

Rgds, alka yadav, [protected]

My mobile number [protected] is registered in your kotak account. I have request to close my account before 15 days.
I have received a sms by your dear investor, your closure request for code il4i0 has been processed. Final payout of rs 839.52 has been credited to your linked bank a/c.
But when i asked them about my account and they told me that it is is still active and someone have tried to receive money in 3 times and account has been blocked.
Please help on that matter as soon as possible.
Ashish gupta
Mob. No. [protected]

On august 14th, i checked with customer care whether they file buyback offers for their demat (Trinity a/c holders) they said yes and gave me the details they need to file the same. I provided the details and they promised they will file the same soon.

Since then, i have been following up with kotak to file this single buyback offer and tomorrow is last date and i am shocked that they haven't filed it yet for no apparent reason. All i get back as reply is we are processing! Tomorrow is last date and seeing the attitude, i am now confident kotak wont file it and i have to bear losses for you incapability to service the clients as promised despite the fees they take. Complete details under query id: 15249292. I have been customer since 3 years and this is the first time i asked kotak services, and i am totally shocked!! How could you show such irresponsibility?!