Kotak Securities Complaints & Reviews

Hello team,

I have a account in Kotak securities with client I’d 56CD5,
Today the system starts generating the order and kept on closing the same
I have tried to Kotak people for help

1., I tried to contact customer care no one lifts the call on the number [protected]
2. Then tried another customer care number [protected] these people have disconnected the call
3. Tried contact over mail sent mail from service.[protected]@kotaksecurities.com to country head no one responded
4 went Kotak securities office Rajahmundry in person and it was closed and the people around informed that they are not opening the office

Please let me know how can I complaint against these people, more than loss what hurts you is no one responds to your mail, calls .

Thanks
Srinivasa chary m
[protected]

Hi
I am running behind Kotak Securities for Transfer the balance from
Trading account, numerous e-mails and WhatsApp Message sent regarding
to Kotak Securities, after sent 5 mail they will reply for 1 mail

First they told IFSC code is not updated. But I have opened minumum 10 Years back and bank details such as Account Name, Bank Name, Branch Details, IFSC code etc were updated and I was able to transfer money May 2021. All of sudden I don't know where IFSC Code is disappeared . After 4 weeks of continues email/WhatApp Communication they accepted
IFSC code is not the issue. Now telling some other stroy.

They never back to specific answer of any of the questions. Looks Like
they want to hold customer money as I see other complaints on this forum .

I am attaching the e-maill trail on this issue (Copying of escalation and complaint department of no use because they never read the mail)

Biju Arjunan
5:44 PM (1 hour ago)
to ks.compliance, ceo.ks, service.securities, ks.escalation

Hi
First of all regret you to tell that you are not answered any of my questions.
I myself only confirmed that I have received an amount of 3187.07 on April as Quarterly payout
If Quarterly payout is working why Not Manual Transfer not working ?
for that a you gave a stupid explanaion trough email and chat that
IFSC Code of Citibank is not updated. When I was kept on insisting IFSC code is not issue
Now I can see on the attached document you sent IFSC code is present .

So the questions are below

1) The original issue I raised on 23/05/2021 from that day till 30/06/2021 I was continuously writing emails
and chat and you were saying the IFSC code is the issue, Don't you feel ashamed and discontinue
your financial business,
2) With your stubborn and arrogant attitude you made me couriler the relevant document in this pandemic situation
without accepting digital copy of the document .
3) When you received the document you came back and telling me IFSC code is not the issue
4) Multiple request of call back to from senior team is not honoured.

Now coming back to the present explanation
1) According to my knowledge you cannot only transfer from Citibank to Trading Account, the viceversa should be
possible if the linking account is Citibank
2) While the automatic payout is working why Manual Transfer is not working ?

Thanks
Biju

On Tue, Jun 29, 2021 at 4:59 PM wrote:

Good Evening Mr. Arjunan Biju,

Hope this email finds you well!

We truly regret for the delay in responding to your query.

With reference to your below email dated 28/06/21, we would like to inform you that we have received a communication from CITI Bank that online funds transfer from CITI accounts to broking account and vice versa will be discontinued effective 31st Dec 2019.

Hence you are unable to transfer the funds available from your trading account to your linked savings account.

As on 29th June' 21 you hold a credit balance of Rs.14400.19/- in your trading account.

Also, as observed Rs. 3187.87/- Quarterly payout had been made to your trading linked bank account on 10/04/2021.

We request you to kindly check the credit of the amount in your bank account.

Secondly, as per SEBI circular, the account holders are required to select the mode of payment for the settlement payments (for shares sold) to be transferred to their bank account (either under Running Account or Settlement Account).

The account holder can select the mode of payment as monthly or quarterly (under Running Account), so that the funds are transferred according to mode selected for the same.

For e.g. Monthly-- then funds would be transferred at the end of the month

If the mode of payment is settlement (under settlement account), the amount of shares sold are transferred to the trading linked bank account on T+3 days basis (i.e. Trading day plus 3 working days) after considering ledger balance, collateral and exposure in your account.

You are eligible for the corporate actions (rights, bonus, dividend) only if you holds any buy position before the expiry date .

Further, The first day of the no-delivery period is the ex-date. If there is any corporate benefits announced for which book closure/record date is fixed, the buyer of the shares on or after the ex-date will not be eligible for the benefits.

The dividends announced by the company are directly transferred to the bank account linked to the client's DP profile or a cheque is issued for the same.

Attached is the Client Mater List for your reference in which you can check the bank details updated.

If you have not received the dividend, then we shall once request you to kindly get in touch with the respective company registrar for further assistance.

The contact details of the Registrar of the company can be viewed on the path mentioned below:

www.bseindia.com In Get Quotes column enter the company name In “Filing and Other Info” scroll down and click on "Corp Information" and check “Registrars”

Thanks again for your email.

We value your business and hope to have an enduring association with you in the future as well.

We hope this is useful, should you need any further assistance, please do not hesitate to contact us.

Regards,
Om Mandavkar
Kotak Securities Customer Care

Now you can access your trading account anytime and anywhere on your smart phone with NEW KOTAK STOCK TRADER (KST) App.

• Try the all New Kotak Stock Trader App. Click https://ksec.onelink.me/7nkM/WALA

[protected]Original Message[protected]
From: Biju Arjunan
Sent: Saturday, June 26, 2021 12:42 PM
To: service securities / Kotak / Securities
Cc: ks escalation / Kotak / Securities ; ks compliance (Compliance, KSL) ; ceo ks / Kotak / Securities
Subject: Re: [Query ID: 32284051]

""The Sender of this email is from non Kotak domain""
Hi
Any update on my issue. At lest give a target date of resolving the issue.

Today when I checked for transferring the amount from Trade to back it only showing
4319, not sure where the 10, 000 Rupees I didn't get the payout amount 10, 000 to my Citibank Account

Also if you see the attached statement of April the payout of 3187, 87 is successful and credited to my bank account

The issue of balance transfer from securities to Bank account is happening from May month and I am 100% sure it is
to do with IFSC Code updation . As I stated this month also I am able to receive dividend from Stocks

Request you kindly revert, I didn't get response of past 10 mails I sent

Also remember I have sent 100 mails and ten thousand of WA message, NEVER THOUGHT
KOTAK SECURITES HAVE SUCH A BAD CUSTOMER SERVICE

Thanks
Biju

On Thu, Jun 24, 2021 at 9:50 PM Biju Arjunan wrote:
Any update on this . Also it is worth to note that I am getting divided from the stocks I have, the problem is with Kotak Securities to transfer the money to my account . It is nothing to do with updation of IFSC code. Problem is something else. I request you to look in to the problem and resolve the issue as early as possible
Thanks
Biju

On Thu, 24 Jun, 2021, 17:44, wrote:

[https://www.kotaksecurities.com/landingpage/mailer/images/debit-mailer-imgs/log...⇄

Good Evening Mr. Arjunan Biju,

With reference to your below e-mail, we would like to inform you that your query is noted and we shall try to address it at the earliest. Your Query ID is mentioned in the subject line.

Thank you for writing to us.

Now you can access your trading account anytime and anywhere on your smart phone with NEW KOTAK STOCK TRADER (KST) App.

• Try the all New Kotak Stock Trader App. Click https://ksec.onelink.me/7nkM/WALA

Regards,
Reema Atul Patel
Kotak Securities Customer Care

[protected]Original Message[protected]
From: Biju Arjunan [mailto:[protected]@gma


Did you know that you can also instantly chat with us?
Should you have any question our Customer Service Instant Chat support is available all days of the week from 08.00 AM to 08.00 PM.

Follow us on:


Contact Us:
Kotak Securities Limited. Please reach us here for any clarifications or concerns: Customer chat, WhatsApp us on: #[protected] Customer service toll free number: [protected], you may also write to us on service.[protected]@kotak.com Our registered office address: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. SEBI Registration No. INZ[protected]. Compliance Officer Details: Mr. Manoj Agarwal. Call:[protected], or Email: ks.[protected]@kotak.com. Please click here for our detailed disclaimer and grievance redressal mechanism.

.

Disclaimer:

This communication is intended only for the person or entity to which it is addressed and may contain confidential and / or privileged material. Any review, retransmission, dissemination or other use is prohibited. If you have received this in error, please contact the sender and delete this material from your computer. Kindly note that this mail does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information is not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Kotak Securities Limited.

Disclaimer:

This communication is intended only for the person or entity to which it is addressed and may contain confidential and / or privileged material. Any review, retransmission, dissemination or other use is prohibited. If you have received this in error, please contact the sender and delete this material from your computer. Kindly note that this mail does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information is not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Kotak Securities Limited.

==================================

Biju Arjunan
Tue, Jun 22, 11:25 AM (7 days ago)
to ks.compliance, service.securities, ks.escalation

Hi
Escalating to Compliance department as there is no reply from Securities or Escalation Team for
my E-mails

Also this issue I raised is going to be 1 month old I have sent numerous e-mails
and thousands of WA messages without a resolution

Thanks
Biju

On Tue, Jun 15, 2021 at 11:08 PM Biju Arjunan wrote:
Gentle reminder about the following query.
Thanks
Biju

On Mon, 14 Jun, 2021, 21:38 Biju Arjunan, wrote:
Hi
These forms, and cancelled cheque leaf etc were already submitted years back . I don't know why should I submit again for your fault .

If needed I can send the digital copy of the cancelled cheque leaf and the filled form since I need the money urgently cannot wait for sending the documents through courier that too in this lock down period .

I request you to check with Kotak Securities, Bangalore they have collected all these documents when opening the account.

Also I have put a request on Whatsapp channel for call back . But nobody called me back .

This issue is going to be one month since I raised first time request you to call back or arrange a call from Kotak Securities Bangalore to sort out the issue

Thanks
Biju

The bank addes that the new demat account is free, there is no charge
And applications do not work login and no rupees transfers and false to the customer when the account is open, 590 rupees shows charge to open the bank account, closing the bank account, you have to speak for rupees like this.
The mistake is of the bank, the customer is a kotak damet account is absolutely useless and is fraud
Very poor service and quality
Very very disgusting service

Gmail ID [protected]@gmail.com
Customer ID Z4QCL
Mobile no [protected]

Am asking for my Tax Challans for FY[protected] AY[protected] . Was directed to Dubai office where they don't check emails and take long. It is now almost three weeks .
They have send Tax deducted on Interest but not the on trading account.
Emails are bouncing to their address including NRI .
Please forward urgently.

DP charges debating to my savings account without doing trading shares since two years..
Trading account also cheating without instructions sold out shares and showing loss and looting amount from savings account

DP Chatges debited after confirming volume of acvount
Trading account also cheating customers selling shares without any instructions and showing loss and debuting to account

From: PRASANTA DE
Subject: To find out Details
Date: 8 June 2021 at 10:59:10 AM IST
To: ks.[protected]@kotak.com

The Officer in Charge
Kotak Securities
Demat Section.
Mumbai.

Dear Sirs,

Years back, I used to deal with Kotak Securities mainly in foreign exchange deals and I used have a demat account. However, due to a number of reasons beyond my control, I...

I'm unable to watch and listen Kotak securities live training webinars on, worst live webinar platform ever been experienced by me, there is always a blank black screen on your presentation screen and I barely used to listen and watch your presentation.

Requesting(a humble request) to you kindly improve your server quality or switch your webinar platform from this worst to better one like ZOOM or GOOGLE or WebEx, it would be better and very convenient for all participants.
Thank You.
regards.

HARSH PATWA
KOTAK SECURITIES CLINT
Clint code- HP04011999

Sir,

I am the customer of Kotak security and have a Dmat & Trading Account with Kotak securities vide Client Code ZO39W. I was having 5000 shares of Tata Steel BSL company in my Dmat Account but today (07/06/21), my 2445 shares of Tata Steel BSL were sold by the company without my knowledge and consent. I had not received any phone call, message or email from the Kotak security about any fund short. Moreover, my RM had also not informed me about any fund short, even I talked to the RM today twice regarding my portfolio but he did not inform me about any fund short. Moreover, I purchased mostly my shares 2-3 days ago through my RM. The company sold my those shares which were at loss, causing me great loss. This is very irresponsible behaviour of the company with the customers. Kindly lodge my complaint and enquire who is responsible for this unauthorized trade. I also lodged my complaint to other authorities in the matter.

Thanks
Rajesh Kumari
Phone No. [protected]
Client Code ZO39W

नमस्कार
मेरे एकाउंट्स मैं १९/४/२०२१ को ओर्टिन लैब के ९९९९९ शेयर्स थे (सलंगन स्क्रीन शॉट)
इनमे से मैंने २०/४/२०२१ को २४००० शेयर्स सेल कर दिए .मेरे एकाउंट्स में कोई भी मार्जिन उपलबध नहीं था जिससे की में शार्ट सेल कर पाता.
इसके बाद मैंने २२/४/२०२१ को २५९९९ शेयर्स सेल कर दिए .२२/४/२०२१ का मुझे देय to यू का Rs .१५२९९५५.६७ का टेक्स्ट massage आया (सलंग्नक स्क्रीन शॉट)
इसके बाद आरएमएस का मेल आया की आपने शार्ट सेल किया है और आपका डेबिट बैलेंस है
उन्होंने मेरे सारे शेयर्स सेल कर दिए २९/४/२०२१ को
मेरा अनुरोध ये है की मैंने कोई भी शेयर्स शार्ट सेल नहीं किया क्युकी शार्ट सेल के लिए मार्जिन होना चाहिए जो की मेरे एकाउंट्स में नहीं था मैंने वो ही शेयर्स सेल किया जो मेरी होल्डिंग में था (सलग्नक स्क्रीन शॉट )
ओर्टिन लैब का शेयर्स मेरी होल्डिंग में कैसे आया ये कोटक सिक्योरिटीज की गलती है मेरी गलती नहीं है
आप से अनुरोध है की ओर्टिन लैब के शेयर्स से होने वाले नुक्सान को कोटक सिक्योरिटीज स्वयं वहन करे क्युकी इसमें मेरा कोई फाल्ट नहीं है
ये कंपनी की टेक्निकल त्रुटि के कारण हुआ है जो की ओर्टिन लैब के शेयर्स मेरे होल्डिंग और सेल्ल फ्रॉम एक्सिटिंग स्टॉक में आ गए
अतः आप इस त्रुटि को ठीक कर के मेरा फण्ड जो आपने मेरे शेयर्स सेल किये है वापिस करे
तथा ओर्टिन लैब्स के शेयर्स के नुक्सान को भी निरस्त करे
धन्यवाद्
राजू गर्ग
RNVT

Hi Kotak Bank,

Today suddently received notification 2914.50 Rs has been Debited from my kotak bank Balance transfer fund to KSEC without any permission. I never make any transaction as of now.

Need your Clarification and how to get back my money

Regard,

khushal upadhyay...

Kotak Securities problem

RADHAKRISHNAN P
Wed, 19 May, 19:48 (12 hours ago)
to uday.kotak

Dear Mr Kotak,
I am giving below an email which I sent to the CEO. I have not heard from him or any other responsible person. I may have to take legal action if my problem is not resolved.
Professor P Radhakrishnan

Kotak server problems - User ID: P_RA_1949 -- [Query ID: 31289394]br...

After login keat prox but not opening.

Hello
I have an account in kotak security . On 1 March 2021, there was deduction of 885Rs for sms charge plan and 558Rs for trading plan without any information and notice from my trading account . I have already filed complains about this in kotak security but there is no refund and they are not even willing to refund .
Kindly take appropriate actions against them .
Rupesh Jain
[protected]

Sir I had purchased 3 shares of Astra Poly Technic on 8/3/2021 along with 10 shares of Tata Coffee but to my astonishment i have not received the shares to my demat account with IN 300214 with my code ZUYX5 and account number 34093052 till this moment 15/3/[protected] pm. Myself a senior citizen doing share business as a hobby troubling is very bad. Please do the needful immediately. There is a book closure for Bonus share in Astra Poly Technic who is going to bear the loss. For no fault of mine I am made a scape goat in this whole transaction. You people know how to debit my shares if i Sell but you do not know the same things applies to you and transfer my shares to my demat account. i want justice immediately. If donot get my shares tomorrow by 10-00 am I am taking this issue with SEBI, NSE AND BSE exchanges for getting justice.

Sir
Greetings of the day
I had my dmat account with kotak securities, I want to activate the same, called several times the customer care no, sending mails with video as suggested, but no response, I am a privlage account holder from last 15 years, dont know what other customers experincing
Thanks and regards
Yogesh mahajan
[protected]

I have purchased SBI Long term equity mutual fund 3 years back.
Now when I am trying to redeem it, I am unable to do it; as it is showing error "Scheme Not available";

I first connected to your customer team on service.[protected]@kotak.com vide e-mail; they streched the conversation to 1 month with no resolution. I kept following up but no response from your end.

Then I connected on Whatspp number which you share on e-mail; they also kept me on hold for long; then asked me connect on [protected];

I reached out to them; but again they said me we cant do anything; please reach out to [protected]

After waiting for long, when I reached on last number, he said me to again reach out to some other team;

It has become a never ending loop; One team says go to another; another say go to third person, third person to fourth person; Highly non-appreciated service; with no value to customer experience or customer time

Still my issue hasnt been resolved;

I have already paid the amount twice and still Kotak Securities is sending me an outstanding amount with additional charges. Payment was done via bank NEFT and IMPS on November 27, 2020 towards my trading account D8YO0.

Can you please investigate this issue, get rectify balance and return excessive payment to me asap?

I would like to close Kotak Mahindra bank account no. [protected], demat and trading accounts on the deceased of Dhirajlal Damodardas Sanghavi. Please stop harassing us by sending outstanding charges.

I have my share trading account and bank account with Kotak. Kotak Securities is regularly charging D-Mat fee from me but it has deactivated my securities account without telling any reason. While my Kotak Bank Account is working fine. It is not responding despite several reminders. I am already 2 time visited Vasai branch handed over my KYC again but still they are not responding to me, my old E-mail ID was already closed & I have requested for changed but they are not doing & also not responding. I need to start trading but my account not active.

Hello Sir/Madam,

Myself and my wife have Demat and trading account with Kotak securities. My Customer ID is 36431885 and my wife is 80944789. The contact number for both of our accounts is the same mobile number and Email Address ( both are mine) since the inception of account for both o[censored]s. This has been going fine till last week, Suddenly I find both our trading accounts are deactivated and have asked to speak to call centre. I approached the Rep office
in Dubai and they informed me that due to common mobile number and email address it has been blocked and asked me to submit a form to get it activated. I did the same promptly on 10th Dec 2020, but today 14th Dec both my account and my wife account are still not activated for trading.

Firstly this should have been checked at the time of opening the account, secondly I should have been informed in advance for change if any additional information is required as these accounts have been working for long time. It is not appropriate to deactivate the account suddenly without informing in advance for any update to be made, for banks requirement. Putting your customers in difficult situation reflects poorly from service provider like Kotak securities. I have faced some issues in past also, after providing information I do not find any timely response or action taking place and I have to follow up multiple times.

This way of delayed/poor service action is really worrying about the quality expectation from Kotak bank/securities management. If my account is deactivated for such a long time.

request you to look forward for timely resolution.

with regards,
brijveer singh