Query over RMoney deduction of Rs 15/- (or multiple of that)

P

purplehaze

New Member
#1
#1
Hey Guys,

I am a RMoney user, and have noticed that since sometime now, for every trade I do, they deduct charges in the multiple of Rs 15/- from my account. :confused:

I always trade using my RMoney web client and have never used Reliance "call n trade" service. I never received any letter over this development, please help me if you can help me on this front.

Just for your information, I always do delivery base transaction and use Rs 2500/- limit card.

Appreciate any inputs/ help over the matter :)
 
L

larasachin

Member
#2
#2
hi
best advice is switch to other broker, they have mapped ur acount to someone`s code and exploiting u , though u r web client .u can refer experiences of rmoney clients on the board, most of people r suffered from there cheating practices, protect ur money and shift to other broker,i repeat take ur money out first and then fight for injustice, u can ask for mandate copy for ur argument
with regards
 
F

fast_rizwaan

Active Member
#3
#3
purplehaze said:
Hey Guys,

I am a RMoney user, and have noticed that since sometime now, for every trade I do, they deduct charges in the multiple of Rs 15/- from my account. :confused:

I always trade using my RMoney web client and have never used Reliance "call n trade" service. I never received any letter over this development, please help me if you can help me on this front.

Just for your information, I always do delivery base transaction and use Rs 2500/- limit card.

Appreciate any inputs/ help over the matter :)
Click to expand...
Did you know that there is a "CDSL"/"NSDL" debit charge for everytime, your shares are debited from your Depository Account?

CDSL and NDSL charges around 12-16rs for every debit transaction. Whether it is one share or 1 crore share debited from your DP account, you are charged 15rs.

So, it's not Just RMoney, every delivery-based sell transaction from any broker will be having 15rs extra charges.
 
V

vasa1

Active Member
#4
#4
fast_rizwaan said:
Did you know that there is a "CDSL"/"NSDL" debit charge for everytime, your shares are debited from your Depository Account?

CDSL and NDSL charges around 12-16rs for every debit transaction. Whether it is one share or 1 crore share debited from your DP account, you are charged 15rs.

So, it's not Just RMoney, every delivery-based sell transaction from any broker will be having 15rs extra charges.
Click to expand...
Agreed but the charges may differ slightly. Geojit Online takes Rs. 11 inclusive of taxes. Asit C. Mehta takes Rs. 12 (I think).
 
J

J_D

Member
#5
#5
Hi purplehaze,.

That 15 Rs is the mandate charge RM charges for every transaction. This goes to your Franchisee with whom you signed your application at the time of opening your account.

You can cancel this mandate. Contact RM for cancelling this mandate if you are using RM to trade on your own, not using the services of the franchisee.
Once this mandate is cancelled you will not be charged the Rs.15 for each transaction.

Regards,
John
 
Last edited:
P

purplehaze

New Member
#6
#6
Thanks John. You were right. I went to RMoney office and got the contract canceled. I tried to get an explanation over why this was charged to me all this time, and only answer they gave was- "Sir, you only must have signed the contract"! Now I was made to sign at 100 odd places, how often do we read through all those pages? Wasn't it frachisee's responsibility to make me aware of that thing? Nevermind, glad this sick stuff is over...
 
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