Motilal Oswal — Pay out to bank account

Address:Mumbai City, Maharashtra, 360003
Website:motilaloswal.com

I opened account with MOSL 20th, January 2017. At the time of account they informed me that no money will be kept locked total amount I can withdraw at any time so I added 1 lac rupees and on 23rd November I want to withdraw money for my personal requirement but they locked 50k as margin amount that I cant withdraw without informing...!!! When I contact customer care they informed me that management has decided new policy regarding this ...!!!

After that I had mailed and requested them to initiate pay out of my remaining fund but they always say we will mail ur complaint ro management and initiate pay out within day but till today my remaining 50k till blocked and no executive will give satisfactory answer regarding.

I think I had made mistake to choose MOSL as demat partner. I had face worst service from MOSL from the day of starting.

I suggest all to think twice before account opening with MOSL.
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Dear Sir,

Apologies for your inconvenience!

We understand your issue ; Kindly share your Client code/ contact details & our representative will contact you shortly.

Team MOSL
had a very bad experierince with MOSL. NO one at MOSL care to attend any complaint. I sold 100 SHARES TATA MOTORS @170.85 and I was told that Rs. 17185.00 will be credited in my margin account but to my surprise only Rs.15185/- have beeen credited Rs.2000/- less amountreason no one knows. CHHABIL DASS MOB NO.[protected]
Demat account no, EAO16292E
Same is the experience with me, you cant withdraw your own money, you have to take approval from MO in order to withdraw, ironically you can pumpin(pay in) unlimited fund but withdrawal is not straight forward. Moreover Demat holding shifting to any other Demat partner is chargeable at MO and for this required process is not even online and has lot of paper work involved which makes demat shifting very painful and time taking. In short MO services and brokerages are not worthy and hugely expensive, Instead of MO you should prefer Zerodha or any other demat partner.
Dear Ma'am, We request you to email us your concern with contact details at [protected]@motilaloswal.com.
That already I have done, And I am not at all satisfied with response there, I need following to be addressed asap

1. I dont want any partial payout of my own money, Please allow me to get me refund each and every penny of my ledger balance.--> Interaction id-->4890639

2. Make speedy arrangement for my Demat holdings shifting as requested. -->Email Interaction->4890538

If above both issue is not resolved asap, i will keep following rigorously on this.
Dear Ma'am, we have escalated your concern with our relevant team. You will be contacted soon.
Dear Ma'am, we understand that our team has contacted you with a resolution. For any further query, please contact customer care on [protected]@motilaloswal.com.
Ssince many time i want withdraw my money i not able to withdraw. But when we credit it will show immediately and also it will debit from our account but when we want to withdraw from motilaloswal it all tell that amount is freeze and without our intimation i had bad experience with this motilaloswal before you want to invest through motilaloswal please think twice or thrice because it is hard earned money ..
dear team i just opened my trading account and transfered 16000rs instead, theres no option of payout option visible on the app please resolve

ID EHYDE13192
motilaloswalsecuritie's reply, Dec 2, 2020
Dear Sir, We have forwarded your concern and will ensure to get it answered soon. For any further queries, please contact customer care on [email protected].
motilaloswalsecuritie's reply, Dec 7, 2020
Dear Sir, we understand that our team has contacted you with resolution. For any further queries, please contact customer care on [email protected].
Hi Team, I am unable to make any payouts or withdrawal from my trading account to my bank account. The option for fund transfer has also been disabled. Have been having very bad experience contacting the MO team as no ones responding . I would like this to be resolved ASAP . Please look into this issue.

Demat acc : E518659
Kannan Radhakrishnan's reply, Dec 17, 2020
I am also facing this same issue. If you come to know about the resolution, please post in my comment, below...
Hi Team, I am unable to make any payouts or withdrawal from my trading account to my bank account. The option for fund transfer has also been disabled. Have been having very bad experience contacting the MO team as no ones responding . Very pathetic.

Client code EAOPE9182
My name is Deepesh Narkar, Client code EAOPE65505. My issue is i have made withdrawal from motilal oswal app but still not credited in my bank account & now the option is disable in the app.

Please i am in need of money as one of family member is hospitalized and need of money.

Hope u would understand and solve this issue and credit in my account.
This is pathetic Motilal Oswal,

I am trying to extract money form my wallet but even after lot of efforts i am unable to get that money out.
This is really pity on the company that they block hard earned money money of the customer.
If someone from the Motilal Oswal is here, please note & help me to get that money out.
im also unable to withdraw money from my account what the hell how come MO not allowed to withdraw my own money.

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