Reliance Money Complaints & Reviews

i have opened the Demat account by paying RS.750/-. afterward without my consent and knowledge they have Charged Rs.2500/- towards limit card charges. I have made so many calls to customer care . But i am not getting any resolution or any reply for this complaint No: 2159679. I am very much surprised that this is the worst customer care and cluster branch staff, they does not know anything. I am fed up with the service of reliance money. I want to close the account and please arrange for refund of money paid while opening and the money deducted towards limit card charges. I am fed up with this services of reliance money. Send your executive to close my acoount.

Dear Sir,

I am a DEMATE account holder of Reliance Money.Despite of repeated reminders and so many mails, their customer support/Grievence cell is not responding on my query.

Kindly go through below details.

--- On Sat, 14/2/09, sandeep tyagi <[protected]@yahoo.co.in> wrote:


From: sandeep tyagi <[protected]@yahoo.co.in>
Subject: Fw: Query : SATY0044 - REMINDER-II (FINAL)
To: customer.[protected]@reliancemoney.co.in
Cc: customer.[protected]@reliancemoney.co.in
Date: Saturday, 14 February, 2009, 5:08 PM




--- On Thu, 12/2/09, sandeep tyagi <[protected]@yahoo.co.in> wrote:

From: sandeep tyagi <[protected]@yahoo.co.in>
Subject: Query : SATY0044
To: customer.[protected]@reliancemoney.co.in
Cc: customer.[protected]@reliancemoney.co.in
Date: Thursday, 12 February, 2009, 1:38 PM


Hi,

I am a customer of your organisation and using DMATE account.When i received my DMATE KIT, i got a password keyring in it, but it was not working properly. Some time it was working sometime not, But now its completely OFF.Even no single digit is appearing on it.So i am not able to do my trading transactions through it.

I have spoken with your customer care executive, but he could not provide me any satisfactory answer for my query.But he asked me chages of Rs.200/- for replacement of this instrument.
I am asking why should i pay again and again for the same thing, there is no fault from my side if your instrument is not working properly.
Second thing, if i order another instrument, what is the guarantee of it, that it will work properly.
I will not pay even a single panny for it.

Please provide me another password key.If i dont get any satisfactory response from your side within 24 hours, i will be bound to close my trading account.

Waiting from your reply.

Thanks,
Sandeep tyagi
user id : SATY0044
Contact No:[protected]
New Delhi

Dear Sir, please do the needful.
Thanks,
Sandeep tyagi

plz send me deatail of my a/c statement, there is unneccessarty deduction. so plz send me full detailed statement and converse me..
my mobile no. is - +91-[protected]

my reliance demat a/c no. is- [protected]

I am giving below certain Details pertaining to Reliance Money, To the best of my knowledge what Reliance Money is doing is illegal.

All small & medium Investors are suffering after opening a account with them, As a social cause I request you to take up the matter with concerned authorities to help the Investors:

1) Initially Reliance Money lured people with the brokerage card of Rs. 500/- valid for one year. through One can Trade up to 1cr ( 10 lacs in Equity + 90 lacs in Derivative)2) They changed within a year to Rs. 500 for two months3) Now again changed to Rs. 1000 for two months

Which means whooping 12 times increase in 1.5 yrs

Further they have started deducting this money from the Customers account without taking any consent from them. They just send one mail in specially created EMail account ( Which one normally does not Open ) about change in charges & keep deducting money.

Now they say that Rs.500/- offer was just an introductory offer. you would agree any such prior consent would not be valid in any court of law, which gives authority to any company to charge indiscriminately like this with one sided authority. at the most the consent is to continue with the same plan what customer have agreed to at beginning of the association.

Requesting you for the help.

I was induced in taking an online brokerage account last year by Reliance Money offering free trading for a year along with the account. It was not a free account as I paid 750 rs. for opening the account. However, I soon realized that the account was not functioning as the free limit card that should have been associated with the account was not there. After almost 2 months of follow-up, e-mails, calls to their call center and their executives, the account was activated in January 2008.

However, I was mistaken to think that this was the end of problems. In January 2009, on checking my ledger account I found that my account was debited 1000 rupees. I was very surprized because only one trade of 900 rupees had been done. I decided to check my account through the year and I was shocked to find that in June 2008, my account was debited 500 rupees. Again in October 2008, another 500 rupees was debited.

Apparently all these debits were for the limit card. So much for free trading account. After several times and e-mails, my husband could speak to the company executive who informed that the first card had been used up to the maximum limit of 5 lakhs tunrover - the scheme was one year or 5 lakhs whichever was earlier. Subsequently, the turnover was 60000 for june card renewal but this was only valid for two months, Same thing for the October card as 'by default' the card was renewed as bi-monthly validity card. When asked as to why did the web site brokerage software not ask for the scheme, the reply was that the renewal is done by default unless you go and explicitly choose the scheme. The software used to warn earlier that the limit card had to be renewed, but this warning was now removed.

Again in October, I had been charged brokerage as some small trade had been done. On requesting that the scheme be changed to 1 year validity, the executive said that this would be done on writing an e-mail. After several e-mails and subsequent calls, the status has not changed.

I feel that Reliance money is taking everyone for a ride by default charging which is detrimental to the customer.

dear Sir
Mandate charrges are being deducted from my a/c. I did not sign any form for deduction of mandate charges. The charges already deducted for about Rs 800-00 from te date of[protected]. may please refunded to me immediately. It is further brought to your knowledge that I am an old customer and volume is high. Earlier also Rs 7000-00 had been deducted from my a/c as mandate charges and was not refunded uptil now inspite of written request already made. It seems that services are very poor and I will be compelled to close my A/c.

summary...

Complain against :RELIANCE MONEY(BROKER)

Client id with reliance money:A00088303

Contact number:[protected]

Name:amar kumar



1.) filed a complain regarding limit card on 20/01/09.Customercare denied to take it as a complain and took it as a query.refrence num: is 1999968

2.) No action taken and they deducted 2000 rs from my ledger account.

3.) On 3/02/09 filed another complain regarding the deduction of amount, but no resolution.the complain number is 2038065

4.) On 5th of feb 2009 i called the customer care and i was told that my money will be refunded but they declined to give any dead line any time line.

5.) I called the customer care today and i was told tha i need to wait some more time but the time limit was not defined.

6.) I am told that if i do trading then i need to give 2000 rs first to reliance money and then only i can stard trading.

7.) They deny to pay any compensation for the losses that i am incurring due to their inconvinience.They said that they have refunded 1000rs but my account still show -2070.They are not giving any time frame as to when my issue will be resolved.



i have filed a complain with the bbroker on the 20/01/09 regarding the brokerage details(Limit card).But since the brokerage details was not available on the platform i asked them to take a complain regarding the same that i am not able to see the details from 1/01/09, but they refused to take the complain and said that thet can take it as a query only.
My ledger balance on the 20/01/09 was -40 but on 3/02/09 was -2070.I again called them and told them about the same and again filed acomplain but they did not answer.They said they will revert bact to me in 4 days.But no one reverted back.I again gave them a reminder and talked to them on 4th but no one reverted back.
I tried to call them today and talked to MANOJ and i was said that someone will surely revert back to me by EOD and also give me a mail regarding refund.But still no one reverted back.

I hve been said that i cannot transfer shares from my demat unless i pay -2070 rs (for no fault of mine) and also if i sell any share from my demat 2070 rs will be firstly deducted and i will get back the rest left over amount only.
They want me to stay still the matter is resolved but when the matter will be resolved they dont commit.

Also they are unable to say whose mistake is it?
But i am loosing money every day as iam not able to do any transaction and running in losses?

I request you to please take a strict action and also i would like to claim for my losses incurred if it appears their negligence.

I am at Gujarat my no [protected] [protected]@rediffmail.com
i have got bsnl bussness plan 1200 broadband connection from bsnl.In starting i got good only 112 kbps speed now i m getting very poor speed, when i complained to service provider, my complain will be registered .I m still waiting for solution.In my business area there is only bsnl who provided broadband service i don't understand what will i do.

Please take a neccessory action against BSNL authorised person. I will be thankful to you.

I have Reliance money Acct. My token which generate a number to log in for trade account, got damaged. When I contact customer care office they said I have to replace it with new one which will cost me Rs. 200. It will take 4-5 working days to have new token.
Til the time I get token, I am not able to access or trade on phone or tho website. This sound very hopeless, that if my token is not working I cant access for 4-5 days, even if market goes up or down. I am not able to do any trade with my stocks. I asked them to give some phone based access or some kind of help that i can buy or sell anytime I want til I get new token.
They replied as SORRY, there is no option for anything you have to wait for 4-5 days. I hope you can understand the situation, I hope I will get feedback from your side to help it out.

Details of my Complain at Reliance money :

Complian Request No. 1976626

I talked with Mr. Mayur Kohli and his seniour person Ms. Aashma Shaikh (Sr. AO), whose office is located at Thane, Mahashtra.


I hope I will get good responce from your side.

Gaurang Pandya
[protected]

Since I had to change my password for my reliancemoney account, I made a request for which reliancemoney said they have sent the new password to my reliancemoney mail account. I am not able to open my account since it is now clubbed to hotmail account. In spite of all instructions given by customer care staff, I am not able to open the mail and thus my reliancemoney account. I am stranded unable to access my share trading account. Please help me urgently.

Dear Sir,

Reliance money (baljinder.[protected]@relianceada.in) had told serveral times 18% commission for the general insurance that i did on for them for three months as authorised remiser. Now after investing my time & money for 3 months they are giving me commission 5%. I had been giving of extra discount of 10% from my pocket (assuming 18% that i was supposed to get). Now nobody in reliance money is helping me & i have put my hard earned money in there pocket & they are unwilling to give it back.
What should i do?

Regards,

Mahesh

Dear Sir/ Madam,
I really take pity upon myself as its already a year long awaiting for my DEMAT account . I had applied for a demat on 28/12/07. My account was debited on March 08, and i received my Password on 22/4/08 at my residence . Till date i have not yet received my welcome kit which was suppose to reach me before i get my password.Further when i enquired in the month of May I came to know that my kit was despatched with Blue Dart Courier POD no [protected] and was lying at Bihar.I also communicated this message to Mr Tanmoy Mandal at Bihar zone who assured me of delivery in the month of September.This is mid of November and the kit is still lying at Bihar office .
Please let me know
* whether i am being deliberately harassed or this is the normal procedure they use to follow up.
* what is the logic behind despatching my kit to Bihar insted of my Address Provided for Password.
I want to lodge a complaint against the company (Reliance) of such repute for the mental agony they have caused during this tenure.

Regards
Ashis Routray
ID:A00084361
[protected]

on july25'08 avanish approached me for opening of demat account with reliance money.he collected all documents(application no 2482169) except pan card what according to him was only the pan card no. will serve the purpose i.e they will prepared manually.

after 15 days again he asked for the pan card and said the same will be processed within 7 days.i agreed.

on 16.08.08 the cheque was presented by reliance money and got cleared.(cheque no 21114)

after further 10 days avanish replied that he has left the company and he cant do anything.

other person named rehman approached me and asked for a cancelled cheque and asked me to put further 50 odd sign in new form.i again have to agree.

after 7 days rehman replied he has left the company.

and since than i am calling customer care continously but there is no response.the mobile nos are vague and landline nos are unproductive.

I kindly request you to refund the application money as soon as possible as i dont want anything to be processed from now.

Sir
i am not able to find the websiet for reliance money mail.if i go thru www.mail.reliancemoney.com, it is not working. plz look into it and do the needful.
My id is NIPA03C2

1 cannot log on to reliancemoney instatrade due to expiry of password .subsequently new password was mailed to my reliancemoney mail, which I cannot access...

Hi







My name is Dandamudi Vijay Babu, Taking in to consideration one of my brother words I contacted one of the executive by name Atosh [protected] of Bangalore.

I applied for reliance DMAT account opening in Bangalore. I submitted all the documents as proof and

A cheque of five hundred rupees in the name of reliance money submitted the last month.

After a month also they are not in a position to tell the status of application.

Finally I called to atosh the person who came me for collecting docs and asked he is not responding to the call and escaping all the time when I called to the number.

I called up to the manager karthik [protected] he replied your application is cancelled due to some reasons.

Then I asked them why can’t you people reply to the customer until the customer calls and find out.

They taken all the papers and kept quite with out informing me.

The money got jammed and when I ask about the money they are telling it will take one month to refund .i think for reliance 500 rupees is matter of one month.

Shame on the part of the team that are spoiling the name and fame of the reliance.

The main I lost bcoz of these types of activities done by the reliance money like time waste and money gets blocked at them.

They are not happy to the DMAT ACCOUNT as well as my money with happy mood.





I am sorry to say that will not suggest from my side to the colleagues or friends or relatives to take and go for this account.




Vijay

[protected]

Hi,

This is Anand Kumar Tripathi a customer of Reliance Money.
I opened a account with Reliance Money in July 2008 and started trading, as per their advertisement and commitment in start the brokerage is very good and cheapest in the market. But they are having a hole which can sucks a lot of money and it is called Limit Card. When you start trading in F&O I don't know by which calculator they compute turnover and they makes a small transaction of 25000 to more than a crore and they deduct it from your margin limit and they will keep deducting it and recharging your Limit Card automatically and sucking the money. This is a hidden charge which they are charging for their so called 1 paisa brokerage. Please help me out and suggest me how to get my money back, I am ready to close the account with them.

I am trying to solve the issue with customer care but no one ready to listen the case.

I request you kindly look in to my complaint and help me out.

Thanks in advance.

Anand K Tripathi

This is to inform that I applied for the Credit Card in The FIRST week of April'2008.

The Executive who offered me the facility of Credit Card was KANCHAN, from RELIANCE, New Delhi. & the Executive who collected the Required Documents from me was PANKAJ

I was informed that the card will be delivered to me within Twenty Days.But till date I have not Received that and moreover I am unable to find the status of my application.Whenever I call these mentioned Executives I find no suitable clarifications

.But today I have been informed that application of mine has been pending because I have applied Twice, i.e. from TWO SOURCES.But to my best senses I have not done so. Infact the executive collected the document TWICE from me as per KANCHAN'S instructions-as she informed me that the Salary Slip that I provided alongwith my set of documents does not bear the name/title of my company clearly, so I provided another set of documents.Hence, this fault of double applying is definately not from my side

Hence I request for the complete information about the status of my application and the wherabouts of my documents.

The details of mine are undermentioned:-
Name- Aashish Dada.
DOB- 20/09/1977.
Mobile- 91 [protected]/[protected].
Email- [protected]@rediffmail.com
Salaried.
Organisation- ASIAN TILES, MATHURA ROAD, New Delhi.
Designation- Manager
Annual Income- Rs. 3, 60, 000 Per annum.
Residential Address-22/B, JEEVAN KALA BUILDING, SECTOR-7 ROHINI, , New Delhi-62.

Documents Given- PAN Card, Notary Attested Rent Agreement, Salary Slip.

I shall be waiting for your quick response in this regard.
Thanks
Aashish.


Aashish

Ph:- 91 [protected]/[protected].
Email:- [protected]@rediffmail.com

Dear Sir,

This is vijay pratap singh from jhansi .sir I have to complain about the things that I am facing in Reliance money jhansi branch. I have complaint against Mr. Anirudh Tripathi who is center manager in reliance money jhansi branch. I want to tell you that I was the PFC of capital market in this branch and recently I have given resignation from this post but I am still giving business to this branch and my previous customers comes to meet me in branch and call me and I am also the customer of reliance products I have taken many life products, mutual funds, sips and dmat account and I come in branch to check the status of myself and customer money and funds but Mr. Anirudh tripathi prohibited my entry to the branch and he always use abuse words when I goes to branch there that why are you here, get going and keep out him to the guards .Sir I have worked 7 months for this branch I have given business for this branch my relation to the staff is very good .but I don’t still understand that what’s the problem with Mr. anirudh tripathi. I want that customer support must take strict action against this guy or I have to take support of customer laws and file my case to consumer forum. But I want don’t want to do that bcoz I was also employee of Reliance and don’t want that branch should face any problem regarding this one man. Waiting for your answer.




Thanks & Regards
Vijay pratap singh
[protected] [protected]@in.com

1. That I am the Prop. of M/s Kohinoor Investment partner code[protected] and has established my office.

2. I have the following grievances and you are requested to kindly redress them at per your earliest possible.

(a) That till date I have opened nearly 700 Demat accounts.

(b) When I started opening the account, I was given guidance by the Jammu branch office staff to fill the form for opening the account and attach the formalities i.e (ID proof, PAN, Address Proof, Cancelled Cheque) and there is no other formality as they added. The above made me that the commission cheques for the online and offline trading will be dispatched to me from this office branch Jammu and will be delivered to me in my office in time.

(c) But till date I have not received any cheque of commission of the said trading online accounts so, I repeatedly approached to the Branch Office Jammu to Mr Ravi Sharma (CMT) and Mr Harpreet Singh (CSE) but after my serial repeated requests and approaches to the cluster head it is told that I have not filled the mandate forms while opening the demat accounts which no body has guided me to be filled at the start and neither they have provided me this mandate form prior to May 2008. If I was submitting my demat account forms from the last one year without mandate It was obligatory on the part of authorities at helm in Jammu branch to point me the flaw was any at my part. I repeatedly remained press the concerned authorities for non delivery of my commission cheques but they pretended that it will take time and there is nothing to worry. However in the last on my pressing I was told that my mandate forms are missing to be attached with AOF which none had guided me and never the said mandate forms was handed over to me to complete the necessary formality if due. These mandate form have been shown to me and delivered only after May 2008.

(d) That the clients whose accounts I have opened mostly reside in the far-flung area of the mountainous tract of the region. It is as such not possible for me to approach them to get sign the mandate form from them of the old opening accounts now by this negligence in the part of the superior officers of the Jammu branch I am not getting commission of these accounts and so suffering measurably to expand my work.


3. That there are 100 and above accounts which were sent to Jammu branch office in time but not being done quick disposal by the branch office staff to forward in time. They forward after lapsing of formalities time limit which is known to have been returned to branch office from the head office Mumbai, again the formalities were get fulfilled by me and sent to the Jammu branch they to have met the same fate for not making the quick disposal to the head office and on telephonic contact, the office concerned have informed that the have also been returned from the head office for lapse of period of completion of the formalities. However the said account have not been sent to me so far for any action. In this way due to distrust created in the mind of my these account holders my business has suffered and suffering very measurably which causing huge loss to me personally as well as the company as whole. And my clients are harassing me for not being opened their accounts so far from the last one year due to which I have suffering recurring loss of lacs of rupees till date and also lost business of life insurance, general insurance and mutual fund which are created through these clients.

4. That there are also cases who filled free accounts from my office and the accounts get approved in time and immediately after approval of account when they have received the letter of approval of accounts the deposited demand draft of Rs 500/- each but they have not received kit so far due to which they suffering recurring loss of thousands of Rupees till date but with no remedy in spite repeated request to branch office Jammu personally by me.


5. Due to non activation of accounts mentioned in Para 3 and 4 and mandate issue referred in Para 2 by the negligence and delay at the part of authorities in helm in the branch office Jammu I and my clients both are suffering recurring loss of lacs and thousands per month.


rajesh gandotra