Reliance - Poor Services.

nsaivamsi · #1 25th November 2007, 12:44 PM

I am an new user of online Reliance money and in my first week of trading with them i have found that system has sold double amount of shares more than existing and this has resulted in short sell. Due to this i have lost 60k money. I have enquired with customer support and they informed that they will settle the issue.

This has happened on 12th of September and till date they have not settled my issue. I have being calling them regularly and they keep on saying very soon they will close this issue.

My complaint id with them was - 255033

I have lost hope and patience and request advice from you guys .. like what to do next ???

veeruisgreat · #2 28th November 2007, 01:10 PM

Hi nsaivamsi,

i totally understand what has happened to you. the same thing happened to me around the start of september where i lost around 95K due to short selling on RMoney's part.

but i had a very good response from their Customer Service where i was put onto a Senior manager within an hour. the issue was resolved within a week.

I would advise you to try the customer service again and ask for any senior CRmanager.
hope this was helpful in any which way.

Thanks
V

nsaivamsi · #3 1st December 2007, 07:17 AM

Thanks Veeru for your reply ... finally i got the reply from the Sr.CRM. They have settled the issue.

gujaals · #4 5th December 2007, 05:18 PM

not only poorest service, but also #1 frauds, who make money by cheating their customers.

infact, 1 fine day when i loggedin to my reliance money i was shocked to learn that 100 shares of praj industries which i bought at 180rs./share were sold for 170rs. without my notice. when i called and complained, they gave lame excuses that their system automatically sold it and it would be bought the next day.

what the HECK

and who's to pay for this useless buy/sell transaction? the investor, in this case me. i have lodged a complaint and have not got any response yet.

not only this, they sell your shares without informing you and when you call them, your call is attended by some irresponsible and incapable representatives, whos words are NOT to be believed. they say one thing one day and the next time, the other guy would completeley say the other thing and in all this traouble, you will be losing your money, time, health and end-up in the worst of all situations.

Believe, it happened to me and I wanted to caution all other fellow investors, thats why am writing this at traderji.

you may also have a look at my other post on traderji:
http://www.traderji.com/brokers-dema...-cheaters.html

and as a final word:
NEVER GO TO RELIANCE MONEY.

srini1275 · #5 6th December 2007, 04:54 PM

I opened an account and paid these crooks 1250 bucks. They make a mistake in the account name. When I ask them to correct it, they say that CSDL doesnt allow a name change (which is OK-it's a govt. regulation), but they want another 750 for new account opening charges? So effectively I pay for their mistakes??? You dont need an IQ of 190 to understand that these guys just want your money without providing the required support.

I havent traded a single share thru them - and i dont want to ever.

Dont even touch these goons with a long pole!

ttthakur · #6 6th December 2007, 05:22 PM

Quote:

Originally Posted by nsaivamsi

I am an new user of online Reliance money and in my first week of trading with them i have found that system has sold double amount of shares more than existing and this has resulted in short sell. Due to this i have lost 60k money. I have enquired with customer support and they informed that they will settle the issue.

This has happened on 12th of September and till date they have not settled my issue. I have being calling them regularly and they keep on saying very soon they will close this issue.

My complaint id with them was - 255033

I have lost hope and patience and request advice from you guys .. like what to do next ???

You send them written notice to settle the issue within 15 days or else you shall approach District Consumer Court. Send the notice by REGD AD Post.

srini1275 · #7 10th December 2007, 03:31 PM

These guys virtually own this country. I think one would make better use of his/her time focussing on other rewarding pursuits. Sad - but true. Such is life .......