Reliance Money Complaints & Reviews

Hello im Raj from vizag ( andhra pradesh )

Do not Open account with Reliancemoney

Its cheating its customers.. They are using Money in our accounts with out our permission Or notice.

I Transfered 10, 000 rupees from my Bank act to reliancemoney act.

that day itselt i bought 7 shares of Infosys
Next day when i market opens.. Infosys share got Increased by 5% and i sold those 7 shares.
At the end of the day... In my legender balance its showing Correctly.. and i got Mail stating that U have sold 7 shares of Infosys.. after that i didnt done any trading

when i checked my act after 4 days, i was shocked.

Balance in the act shd be around 11, 000
But its showing 200
when i called cust service they said that
U have sold shares in ATST ( but i bought in Delivery ) so those shares got auctioned and u wont get money

this is the response i got frm cust care

what i have to do now...

I want to sue Rmoney.. and how to proceed..

Pls Help me in this Regard.

HI,
Myself Srinivas i am a employee in a small company. My problem is i gave the check for 500Rs, to reliance money last 3 months back to open my account . i submitted proper documents to executive. one of the reliance employee unfortunately miss match the my company id. But before the phone verification reliance money drawn the check for 500Rs. after one week i got phone call from reliance money and i answered to their questions. But the problem is my company name was not matched with their details so they rejected my account. But its not my fault its their employee problem. Now they are not refunding my money not even they are not opening my account. I am waiting from 3 months now even they are not lifting my phone if they lift not giving proper answer. I believing that i can get support from here.
Thanks in advance.

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 RAKAO2DB

Worst ever service I have ever seen. Suprised to see their adamancy. Mails are definitely relied - though expect the reply within a span of 2 months. Worst ever service and the people at customer care s even worst - if at all they reply they will reply completely something else.

I have asked how to convert my MF purchased online to offline mode and they replied after 2 months - how to purchase MF online. And they argue too over the phone.

Dear SIr

I can not able to access site mail.relaincemoney.com past few weeks. i want to see my BSE/NSE contract that mail by you

pls provide me full details or i m just going to close account with you because i m not satisfied with you services

Dear Sir/madam
I am having and Demat / trading account with reliance Money.
Following is the account details:

A/c Holder’s Name : Snehal Harkawat
Client Id : S00041624
User Id : SNHA0001

I have bought an TCS July Future on 10/07/2008 which has been sold by RMoney back Office without any intimation to me.

If there is any shortage of margin, I would have transferred it on same time if I have been intimated. Even margin can not be the reason as 17, 303 INR is still there in my ledger balance and i have Stocks of worth Rs 1, 00, 000 around..

I had to carry of Rs 33, 000 loss as a result which is not acceptable.
Even the order has been squared off at 12:20 pm which is not the market closing time.
Settlement must be done on closing basis.
please let me suggest what can be done to take leagle actions againts them.

The reliance money net trading software has bugs and inadvertently I had selected limit card. Without warning and confirmation from the User about debiting anything it straight away debited by ledger and generated a fresh limit card. When complained to Reliance Money they told they will solve the problem and reverse the debit in seven working days which never happened. It is very disappointing trading on net with reliance money.

Hello Money Sucker Reliance Money Ltd

I had made complaint on 25/07/08 to the customer care of Reliance Money Ltd, they said that after the end of the day it will be corrected, but it is not corrected. Reliance Money cheated by deducting the double the amount of profit I made on the Friday from the open balance.

Opening Balance of Rs. 329, 730.53 on 25/07/08.

Made profit of Rs. 1315.96

Open Balance should be: Rs. 331000.00 on 28/07/08 at least.

But Opening Balance on 28/07/08: Rs. 328, 398.81

So, Reliance Money cheated me total of Rs. 2731.92,

Traded Details on 25/07/08
Ledger Balance:
Opening Balance of 329, 730.53 on 25/07/08.
Trading Type: Margin
Script: ESSAROIL

Total Quantity Trade: 2582,

At 10.40 AM Sold 250 qty
At 10.46 AM bought 250 qty

With this made profit of Rs.100

At 12.23 sold 82 qty
At 12.24 bought 82 qty.

Made profit of Rs. 32.8

From 1.12PM to 1.24 PM, sold 2250 qty at different time.

At 2.08 PM bought 500 qty & remain qty I’ve square off reaming qty 1750 to buy at Rs. 186.90 & order is accepted

I tried to edit the Open order and I could not able to modify the order. Ultimately went to market after the margin hours, i.e. at 3.00PM, which makes a huge loss. Why system does not allow me to edit the order??????????

With my luck, All the 1750 shares is traded under market with profit of Rs. 1, 315.96 & showed in the Ledger balance.

I noticed in the ledger balance the square off order still opened and not yet cancelled even after the margin hours are over & my money of the open order qty was blocked in ledger.

Why this is so????????????????

In the contract note, I see that I have to pay you Rs. 326000 from account, what is this bull , because of the deliver mode transcation even though I have not done any delivery transcation on the 25/07/08.

Customer care says, there is open position on 28/07/08 in Deliver mode. I have not done any delivery selling or buying. How can they say that I have made the delivery position.

Reliance Money Ltd playing with my money to our there personal purpose.

Very bad service & application. When ever I call the customer, they says, you will get a call in 20 minutes, 30 minutes, 1 hours. I never got any call.

Reliance Money Ltd knows only to suck the money from the customer because of there profit.

I need the correct answer on the why the profit made is not added instead is deducted from my account, who is responsible for this, because of this my business is stoped and also lossed the trust with Reliance Money Ltd.

Shivana

I have paid Rs 750 for opening of Online Trading & Demat Account. The acknowledgement receipt [protected], The amount was debited from my bank account on 26/06/2008.

Since I didn't receive the welcome kit, I called up Awinash Singh ([protected]) who told you will get kit whitin two days, he gave same answer for 15 days. then I called up Chembur Branch office at 32045649 from where i come to know my application is rejected and papres are with awinash then i called awinash who again gave same answer you will get kit within two days then i told him the fact that i know that my application is rejected and from that day he is not taking my calls.

Regards
Himanshu

address to be change as follow
Cliant Code : C00032774

Chandrakant V. Patel
c/o Chunibhai C. Patel
Vitthal Shivani Wadi, Tarsadi,
Ta : Mangroad, Dist: Surat, Gujarat
Pin 304120

I am to inform you that i had a D/Mat A/c having the following
Clint Id s00031391. AppNo:-[protected]. Dp ID:[protected].
User Id:-SUCH004D Ac opening Date16.04.07 Bo Id 00347093 with reliance capital limited partner code:=[protected]
which perhaps been dormant.Now i like to cancell the account due to non utility for months together and there is no scope for further betterments.
I there fore request youto please do the needfull at the earliest to avoid further discripency.In this connection I have already send letter to your end to Reliance MOney Limited 5th Floor LEXINGTON HIRANDANI ESTATE OFF GODH BUNDAR ROAD THANE(W)400607 but no reply til date.

I had applied for an Demat A/c with Reliance Money on 18/06/2008 and submitted all the documents (Application # [protected]) and also paid Rs.2, 750/- by cheque. But I've not received any reply from them till date. By the grace of almighty god, I got connected to Reliance Helpdesk. But, to my consternation, they told me that my applicatiom is rejected due to improper POA (proof of Address). Now, what is more distressing/ annoying is the IRRELEVANT REASON they had cited, because I had submitted 2 Address proof (Bank statement and Ration card as well). Disappointed with their poorest and dormant service, I asked them to refund my money. But, they are neither activating the A/c nor refunding the money. I've sent more than 70 mails to customer.[protected]@reliancemoney.co.in, but to no avail.
I request the higher ups of the Reliance Money to activate the A/c as early as possible or refund the money (The least they can do).

V.Vivek,
Hyderabad.

Dear Sir,

On 9 of june 2008, i had place an order to sell a put of 4600 at 365. later i got know that the put has been sold at 190 and i called up customer care regarding that, they told me that there was a system crash. When i called the customer care again on the next day, the customer care said that franchisee have sold the order there was no system crash. on wed same thing has happened, i placed an order to sell the call at 142 and i got to know that they have sold the call at 115, that also been done by the franchisee without my permission. Till now I have lost Rs. 4700 because of franchisee, no action has been taken by the reliance money. They have given us a security key saying that if you loose the your account number and password, it will be of no use for the person who will get those detail.. coz while logging we need to put security key, which they will not be having.
could anyboby suggest how do i tackle this issue, to whom shall i contact in this regard.. till now i have sent a mail regarding this to the sebi. however till now i have not got the response.. help me guys..

thanks and regards
Amul

SIR,


I am based in Gwalior. I have a trading and demat account
with Reliance Money.The account number is[protected].

A few days back I had withdrawn Rs. 7000=00 from my R money
account after I had sold some shares as I needed money for
personal use. I hoped to receive cheque at my registered
residential address as is the custom of all the other DP,
Mutual Funds and Companies.

On 29.05.2008 I received a call from phone no.[protected]
from R money. The person informed that a cheque of
Rs. 7000=00 has arrived at City centre, Gwalior Office,
upon this I asked to send the same to my residence through
courier. On this the person said it will not be possible to
send the cheque through courier and I will have to personally
pick up the cheque.

Upon this I asked him to connect me to Accounts incharge or
Branch Head of (Reliance Money) so that I will request him
for the same.Hearing this he replied that he could not
connect me to both these officials and further remarked
following words " It is your cheque, if you wish you can
pick it up from office" and without waiting for my answer
disconnected the phone.

I am unable to go and pick up the cheque hence I send email
to customer support and customer grievance at Reliance Money
and requested to please cancel the cheque and credit the
money back to my trading account, as I can not go and deal
with their people at Gwalior office who may spring another
unpleasant surprise.

It is brought to your notice that till date my emails are
unanswered and my money is still lying with them. I have to
beg for my own hard earned money. The Company is not serving
properly to it's customers. It is therefore requested to
please take action against Reliance Money.



Pradnya Dilip Nigdikar

Hi I am Dhiraj Tanwar and before more than 2 months Reliance's agent collected all the documents from me to apply for DEMAT account and he submitted everything because I started getting messages regarding stocks within 1 month from reliance money but you know I am still waiting for the welcome kit from them and without that I can't start. I emailed their customer service thrice for the same and just got the reference IDs nothing else, here you see:

CRM:[protected]
CRM:[protected]
CRM:[protected]

In the last reference ID they crossed all the limits and told me to get the kit by visiting their Chandigarh branch, is it the customer service? Please suggest me what I can do in it, I suspect if I made the right decision to open the account with them.

Dhiraj Tanwar

RESPECTED SIR,
I HAVE APPLIED A DEMAT A/C VIDE APPLICATION NO. [protected] IN JAN., 08. BUT STILL AFTER 5 MONTHS MY DEMAT A/C IS NOT OPNED AND MY CHEQUE OF RS. 750/- HAS CLEARED.

I HAVE FACED THE POOR SERVICES OF RELIANCE MONEY LTD., I HAVE OPENED MY DEMAT A/C IN OTHER COMPANY. AND NOW MY MY APPLICATION MONEY OF RS.750/- GIVEN BACK TO ME IMMEDIATELY.

Subj:- Deduction of balance from the Account without any intimation to Customer, Limit Card Problem.


I am using Reliance Money Online Trading Account for which i have paid Rs.750 at the time of joining.I was told that i have to pay just Rs.750 and I can trade for Rs.5 Lacs or a year and my account got activated in the month of Nov or Dec 2007.

Now What I see is there is deduction of Rs.2500 from my Demate Account.

I have spoken to Customer Care Executive of Reliance Money, they said that I am using Bi Monthly Package for which there is deduction of Balance. I don't Understand at the time of joining your Executive say something and sell the product to customer .Later the Customer come to know that he is been cheated.

I have also given Complaint in Reliance Money Branch Office Pune and spoke to Priyanka, Ujwala asha who are employees of the same organisation, even they gave some stupid excuse. And it's been more than 2 months my money is blocked by the Reliance Money. The contact Number of Reliance Money Branch office is[protected].

I request the Consumer Court to take proper action on Reliance Money and so that this correction is made for all the customer who are facing this problem & the balance is transfered back to their account. Because Rs.2500 is a huge amount .

I would appreciate the Indian Law if the problem is solved.

Thanks & Regards
AKASH TAMBI

I have opened a Dimat Account in RELIANCE MONEY. They have sent me a Reliance Money Wel-come Kit via Your Courier Service By the POD NO::[protected] on the 28th of APRIL. Yet Now I haven't Get My Wel come Kit. So tell me the Status of my Kit.
Thank you..

sir I have recieved welcome kit from reliance money on 30.4.2008 but my address and my mobile no is not mentioned correct please correct it for further correspondences in future

Mohan

My Tradding Client I D[protected]M00072134
DP ID[protected][protected][protected]
Account No of Axis Bank[protected][protected]
Mother's Name[protected]Chandervati Devi
Mobile No.[protected]--------[protected](right mobile Number)
PAN[protected][protected]ARYPM9348N
((wrong Mobile Number [protected]) Please delete it from your record))

Date of Birth[protected]-05/04/1976

Address

Mohan s/o Shri Devi Ram
Village[protected]---- Bata
Post office[protected]Deeghot(please add post office)
Tehsil[protected]Palwal
Distt.[protected]-----Faridabad
State[protected]-----Haryana
Pin Code[protected]-121105(please add Correct Pin Code)

Wrong Pin Code(122012)
Sir I may not recieve my letters in future at the address mentioned in my voter I D Card which has clerkal mistakes in it. The post man has advised me to tell you my correct address

Call Centre Service is not good

Reliance Money

Premature expiry of Limit card

Dear Sir,

I have opened an account with Reliance Money on 16th Oct 07 under a Bio monthly scheme of two month validity and charges 500 Rs. My card expired on dt 15.12.07. I recharge my card online for PR-500 for one year plan that valid upto 15.12.08. I surprise when my ledger account debit by reliance money on dt 1st Mar 08 for Rs. 500/- as Limit card charges. I have reported this to the sales guy and he said this is the mistake from head office Mumbai and he can’t do anything and needs to address this to Operations department.

I have raised a many complaint regarding that since 3rd of march 08 to till dt. 23.04.08 with customer service and I have been promised that it will be resolved shortly. Since then following up on mails and calls and every time I get to know that the matter is with concerned department and we will revert shortly. Today customer service executive told that the account has been renewed on dt 17.12.07 for two month plan by me but I recharge one year plan to annual package.

On top of this, on 1st March 08 my account is debited with 500 Rs against Limit card charges without my consent and without notifying me about this. I have registered another complaint for reversal of 500 Rs and the same is not yet addressed and I have been told that we will revert on this matter.

Its more than one month there is not a single communication from Reliance Money. I am quite frustrated with the kind of service Reliance Money is giving to their customers. They are not able to rectify their own mistake for which I am suffering from last 1 month.

On dt. 14.04.2008 I received call form Mumbai and lady say me there are our mistake we credited the same 500/- in your account with in seven day. First time I recd a waited call from reliance money side. But on dt 17.04.08 other call from Mumbai regarding that and person say me that you not eligible to take plan PR-500 because you trade around 80 lac after 17th Dec onward. Then I say were are my old limit balance that shown in 16.12.07 why not you carry that then reliance person say me there are no limit carry forward in PR-500 scheme. And not solve my problem. Same Dt. I call to Reliance customer care and talk with executive Kamlesh Ochani on call ref no. 992711. I say that to I want to renew my limit card to PR-500 plan and I want to know that my balance limit carry forward he say……yes
I repeat many time always he say yes then I say please confirm to your senior and he confirm after same wait the old balance limit carry forward in PR-500 scheme.

I again recd a call from Mumbai on next day and a person say me now your problem is solved. I told all previous things. Then he say the person give me detail regarding carry forward of limit he say me he is not known about that then I say he confirm to senior so that mean senior also not know about that the he say I take action on those gay because as per him he say from head office. But my problem still enslaved and taking mentally stresses every day by the way of reliance attitude and different information.

I call 22.04.08 for limit carry forward enquiry the executive told me that the limit carry forward not allowed because she recd instruction day before there are rule changed by Mumbai office regarding limit card by she say me there are compensation massage if I recharged my card within seven day on expire then special case my limit carry forward. Bu I cant renew my card through reliance web site there are I recd massage my card still valid. I make complaint regarding that my complaint no. 1013373

I call dt. 23.04.08 for my complaint of renewal of my card no. 1013373 then I talk to senior Mr. Raza he say me your card shown validity but actually card is expired. Now I am unable to understand what can I do. Were I registered my complaint. Any help for me through any law of India for consumer

Kindly help me out to get my annual subscription plan activated and reversal of 500 Rs. These guys are cheating and doing fraud openly, please stop them from doing this.

PLEASE HELP ME REGARDING THAT
Client ID : S00053764

Thanks

Regards
Santosh Singh
[protected]