Kotak Securities Complaints & Reviews

Client Id : ZR6PB
Client Code : 32465652

A couple of years ago, I purchased Syndicate bank shares and a 6 months ago moved all shares to Kotak securities.

Recently on September 2021, I sold all my shares and an amount of 1, 82, 000 has been available in Kotak securities.

While trying to do Funds Payout it has been rejected. Saying your IFSC code is wrong.

As Syndicate bank is merged with Canara bank only IFSC code has been changed. So I initiated a change request by sending courier of KYC updation form and cancelled cheque leaf of my Canara bank. [16th oct 2021]

Syndicate IFSC Code: SYNB0003061
Canara Bank IFSC Code: CNRB0000891

After few days, received an email stating my
details has been updated successfully.
[Date: 23rd Oct 2021, ReferenceId : 35231242]

Then I raised a Funds Payout request. Again it has been rejected saying IFSC code is still not updated.

After many calls and chats with Kotak Securities they said “My bank details has been Updated only for Demat account and not for Trading account.”

I don’t understand purpose o[censored]pdating only demat account without updating Trading account.

When asked Kotak securities, they said Trading team has to update my details. They didn’t updated even after one month.

So, I have opened a savings bank account in Kotak Mahindra Bank only for this purpose and sent courier again KRA modification form and Kotak Mahindra bank cancelled cheque for changing account details [Nov 16th 2021]

On 20th Nov 2021, received an email from Kotak Securities [Reference number:[protected]] saying as per SEBI Credit Settlement Payout Rs 1, 89, 028.27 /- will be credited to your bank account maintain with us. If failure a cheque will be dispatched to registered communication address.

But not received anything till now.

Now they rejected my updation saying Affidavit is not notarised. When asking about affidavit details customer care guys says need to courier your details again. [23rd Nov 2021, ReferenceId: 35915039]

I don’t know what to do now and whom should I contact as customer care cancels my calls in between and WhatsApp chat says send courier for all questions. Literally no one is answering properly and they don’t know about the mails I received from Kotak securities even after providing query ids.

I am in need of money desperately and I sold all my shares three months ago and my amount has been stuck at Kotak Securities. Consider this as a serious matter.

Request you to resolve my issue on priority basis and Kindly do the needful.

Thanks

I have been trying to close my demat account since 1 month. I have fulfilled all the requirements to close the account and yet it is not closed. When I called the customer service I have been to mail the closing request every time I called and not have given any proper reason not withhold the closing. It's been 1 month and they keep making excuses.

Client code ZIL7R
nest customer name aayushi vijay makwana
date 19.10.21 time 3.pm
amongst various holding, i hold 150 qty shares of irctc with kotak securities
today around 3 pm i put order for sale of stock, it was rejected
again on second attempt i put sale order, my order got rejected
this has resulted into loss of 150000 and finally my stock could not be sold
detailed file is attached herewith

I have opened trading and demat account in Kotak securities couple of months ago. My name is Bharath Rathnakumar.
Wherein as per Kotak securities, they have pulled out my name from PAN site(Income Tax) which is Rathna Kumar Bharath and feeded in their records. At the time of video KYC from kotak, the staff with employee ID SG81833, confirmed that all details are verified and are correct. She gave an on call confirmation and post which Kotak securities opened my accounts. I do not know on what basis my accounts were opened where the video KYC staff gave a false commitment. Through Kotak securities I came to know that there is a mismatch in my name sequence. So I had to do the needful to rectify the mismatch in my name sequence and corrections are made.

Now, as per PAN site(Income Tax website), My name is Bharath Rathnakumar. Even after the changes are made and all are in place and after submitting the Name change request form and self attested Pan copies as directed via mail from the escalation desk, the entire kotak securities team(starting from the Call center executive(Call/Email/Chat representatives), the branch staffs, are throwing the ball on the other court and not approving my request.

The documents were collected by Mr. P Venkatesan with employee ID: KS22234 on Monday(04/10/2021). I didn't get any response from them regarding the status of my request till yesterday afternoon. So I had contacted the concern team and spoke with Mr Chetan Sharma, from the Name updation team located at T-Nagar, Chennai with employee ID: KS20148, he informed me that my request is rejected. In yesterday's[protected] call conversation he gave an upfront statement that he had already informed kotak securities multiple times not to accept(collect the documents) the customers request as it is a change in name sequence which cannot be processed as per their process. Even after that I had received a mail from Ms Twinkle Jaiswal(Escalation Desk) On Fri, Sep 24, 2021 at 12:10 PM

I have been using this account from last 3 years and my kotak account is 0 balance basic saving deposit account but now i have noticed that my account is keep deducting from rs.23.60 on the daliy basis for the atm cw fees-dom. As per my knowledge there are 5 transctions are free in a month and i had withdrawl only once in this month and i had withdrawal rs.500 on 15th october but after that transaction i have charged 5 times till toady, your bank is keep charging rs.23.60 from my account which is not good that means you have charged total rs.118 for rs.500 and the value becomes rs.382 of that withdrawal.

I just want to know and i need an explanation that why i am keep charging with that nonsense fees. This is total pathetic and that means if i keep my money in the account it will become nill soon from the way you are charging.

Rs11 only is debited from my account to ksec fees and margins without intimation.Kindly refund my money back.

I have sent repeated emails to Kotak securities saying that I am getting a message stating that my account is not active.
However, I keep getting response stating that it is showing as active in their system. This is another attempt for them to fix before I take them to court.
I unable to place order or login to mobile app. My client code is 40HI8.

I reffered my friends but I didn't get reffered points from kotak securities, when I call customer care number they always said me wait for 24 to 48 hours but my problem not solved yet.
I have reffered my friend on 31 August and second person referred by me on 1 September both my friends have successfully opened account but I didn't get reffered points. I called many times I emailed many times but my problem not solved please help me

On 7th Sept Kotak Securities did not allow its customers to place orders this resulted losses to many customers including me as I could not square-off my positions and by the time was able to trade the opportunity to square off was no longer there. Kotak Securities should be fined and should compensate its customer

First of all according to
1)Kotak Securities COVID Restrictions are still on.
2) Branch offices are located in someones house
3) No correct information is given on website
4) wrong contact information is given where the level 3 and 4 doesnot exits
5) They need to be thoroughly investigated by SEBI and other authorities for delaying process for which frauds are generated
6) There is not TRUST

in Short they are CHEATS

I have been trading in this platform. From Monday the live prices being shown on charts, buy/sell boxes and other places are erratic and so much delayed that when selling or buying is done based on live prices, execution happens with a lot of difference, and I lost money in the process. I have taken a few photographs simultaneously showing other windows. Please go through the photos to verify. I complained to their customer care and they said that "we have not received any similar complaints so far".

Trading code : J7QJ0
Demat DO Id: IN300214 Client Id: 19568668

Dear Sir,
I have submitted request for update of Address on[protected]Query Id:[protected].
On[protected]Query Id:[protected] I was intimated that dealer will contact me.
On[protected] Mr Siddharth Sharma (Mob. No. [protected]) got details from me and told me Mr Manish (Mob. [protected]) will visit my house for IPV and collect the documents.

KRA KYC updation form was sent by Mr Manish on Whatsapp, I took out the printout, attached the copy of Aadhar and PAN and waited for Mr Manish for IPV.
Mr Manish didn’t turned up and IPV was done at Kalyan Branch on[protected].

On[protected], I received message that my request Ref. ID 34012415 has been rejected, on enquiry with customer care it was intimated that my request was rejected as IPV was not done.

This is quite surprising and shocking. The above narration of events indicates the status of affairs in the Company. No need to waste the words.

You are requested to kindly look into the matter and resolve my grievance at the earliest.

Thanking you,

Jaisinghani Sneha M

Mob. [protected]

Hi,
Following up with the Kotak Securities toll free number since 16th Aug, 2020, there is no response. Even after calling the Toll free number, they are not responding, and today they have disconnected the phone at around 9.50 AM.
The issue is that I was holding Power Grid share of 228, and there was a bonus issue of 76 shares, The total 304 shares are correctly reflected in my DP account with Kotak Mahindra Bank, but in Trading Account Portfolio Holding only 228 shares are reflected instead of 304.
As per the discussion had on 16th Aug, 2020, the DP account transaction holding screen shot has been send to mail ID of Services.[protected]@kotak.com. The query Number is 33640743.
Today, when I had called the Toll free number, they are saying to contact the Register -- this it self speaks of the staff quality at Securities.
Resolve the same immediately. Trading ID 6NN66. Rajkumar Shah

Hi, my name n.thiru gnana sambandam, mobile number [protected]..two months before i was opened kotak 811 account.after one week i was applied kotak demat account .immediate i was summit my complete kyc via online.
next day your officer called me, and told me that you would get id number and password via mail.
i have not received any mail information from you.

i also did not receive any mail information and then tell how many cust customercare officers, i have not found a solutions.

i have all kinds mail coming but your mail is not coming.mail problem with you.
i have been in constant contact with your officers for 15 days

at one point, i lost my patience and became depressed and stopped contacting your officers.
my mail id [protected]@gmail.com.
i would be comfortable talking onthe phone in tamil.
if you dont find the solution, delete my demat account, .because sms coming from nse

I had linked my federal bank saving bank account with kotak security trading and demat account and cant add fund from federal bank saving account kotak trading account it shows failed.while transferring through net banking. And there is no option like UPI payment is reliable enough for hassle free use

Dear Kotak,
I am facing the problem from past 5 days and daily I am complaining to Your customer care, they only give me time that your problem will solved within 24/48 hours, Now I am helpless and I am registering complain against your fraud activity and your customer care is really a very worst.

Hello team

I m your new customer.

Don't make me fool.

Since last 3 days I m facing a lot of troubles regarding my transferred fund.

But I don't know

Why u guys giving me a lot of trouble.

Please kotak securities

I m begging you

Don't allow your agents to say

K sir aap iss account pe Google pay kardo

Next 24 hours mein aap k account mein ho jayega.

Mujhe 80 hours ho gaye hai payment kiye hue. Aap k agent k kehne pe Google pay kiya tha. But meri koi sunwai nahi hui...

Thanks kotak team
Bohot achcha laga aap k yahan account khol k ...

Client rota reh gaya but aap k yahan se koi sunwai nahi hui...

Regards

Shalabh kumar aggarwal

I bought and sold shares on 28/07/2021. I received the net amounts of sold and bought shares on my PINS account. However I was charged for shares worth Rs27000 approximately which should have been reversed as it was already included in the net amount of shares bought that day.Inspite of multiple complaints I have received no satisfactory response from them to resolve this issue.

There are lots of discussions/mails/follow ups/escalations made and still Kotak Securities is not responding to queries raised since more than 10 days and queries are all due to big bug in Kotak Securities website/app to place IPO order.

Since June'21 I am trying to activate my Kotak Securities account. My correspondence started from 10th June’21.
1. I was asked to record and send my video with my PAN details which I did on Whatsapp.
2. Then I got a response that I should go to the branch and do my KYC. I called my branch and no one picked up the phone.
3. I called Customer care and they said that none of the branches are open. They said that they will send an Executive home within 4 days to complete my KYC. Till date no one has come.

I had been to Kotak Bank Mulund Branch. I have submitted all KYC documents like my photo, pan, aadhar, signed form etc. on 31st July to Kotak Bank Mulund branch.

It has been 5 days still my account is not active, neither has any dividend which was due on 23rd July, come to my account.

I have sent mail to the CEO and other levels of escalation, still my issue is not resolved.

I have lost out on my trading because of this. I am very disappointed with the workings of your Bank. No process in place, no SLAs, not bothered about customers. I don't know how this company works.