Service of Reliance Money

[sanyad74]

Sorry to see that you were charged without your knowing. I will explain u everything but first heed my reccomendation - - If u r an occasional trader plz dont go for these online based traders like icici or relmoney.

I am a positional trader and am with relmoney from march 08 , i do trading in F&O. As u said u were charged twice , let me explain you

Limit cards of 500 rs are of two types , 1st card has turnover limit of 1 cr and 2 month validity and other card is also 500 rs which gives 5 lakh turnover limit and 1 year validity.

It seems the person who came to open your account recharged with the 2month card of 1 crore t/o. It is really a problem , people want 1 year card those who come to open acnt recharge with 2 months card. When i opened acnt i made sure he had ticked the right card option in form as i had all knowledge.

Now coming to another 500 debit ,
In relmoney , whenever the older LIMIT CARD EXPIRES like in ur case when the 2 months got over the SYSTEM recharges a NEW CARD of 500 rs which carries 2months validity. Either the cust has to himself recharge his choice of card or system DEBITS 500 rs from your acnt and recharges with 2 month card.

You should have taken care urself and also relmoney should have made it clear.
I am an active trader and face no problems regarding limit cards ( even i have 3 days alternately crosschecked the value deducted frm limit card as compared to original trade)

Hope u r clear

Okie it seems that I also faced the kind of similar situation!

here is:

I knew that my limit card will expire tomorrow and Today I recharge with 500Rs for 12 months. When I recharged my card .. it reflected that your card has recharged.

But unfortunately with my surprise I also saw two times recharged ..One on the same day and another 2 days later (that what my ledger book shows.)

Each time it is with 500 Rs!

Any suggestion for this!!


I tried to ask them many times but so far no answer.
They dont even send a email or message when transaction happens from Ledger book.
Very disappointing and frustrated service

One on the same day of

 

[coolboy007]

Okie it seems that I also faced the kind of similar situation!

here is:

I knew that my limit card will expire tomorrow and Today I recharge with 500Rs for 12 months. When I recharged my card .. it reflected that your card has recharged.

But unfortunately with my surprise I also saw two times recharged ..One on the same day and another 2 days later (that what my ledger book shows.)

Each time it is with 500 Rs!

Any suggestion for this!!


I tried to ask them many times but so far no answer.
They dont even send a email or message when transaction happens from Ledger book.
Very disappointing and frustrated service

One on the same day of

Aghh it seems ur Limit card was already recharge and u without knowing it recharged frm your side. THEy have DOUBLED their brokrg charges. Did u get the mail. Now 500 rs 1 year validity card will give only 2 lakh T/O. Also the 1 cr 2 month card now costs 1000rs frm earlier 500rs

 

[sanyad74]

Aghh it seems ur Limit card was already recharge and u without knowing it recharged frm your side. THEy have DOUBLED their brokrg charges. Did u get the mail. Now 500 rs 1 year validity card will give only 2 lakh T/O. Also the 1 cr 2 month card now costs 1000rs frm earlier 500rs

Ya, revised charges I know which will be applicable from January onwards not now.

In my case how they can recharge my card before the expiry date?
In fact, I have asked them whether I can recharge my card one day before or not.. They say yes you can do. if you trade without recharging after the expiry date then only it will automatically recharged.

I dont know what to do with those worst reliance people.

 

[greatindianwiseman]

Regarding the revised limit card tariff: I started on 3 Jan 2008. Since new rates apply in Jan, can I renew in December say on 31st and take advantage of Rs 5 Lakh turnover?

Vivek

 

[vijaydhody]

Reliance Money is the worst online Portal. Since the inception they have made many changes by reducing the services provided on Portal and increasing the brokerages & they deduct money without the concent
of the customer. Weather you trade or not you have to pay them Rs.1000/- every two months. Overall They have gone away with intial schemes which was just to lure customers ( Just with in a year they have increased Brokerage rates 12 folds ) . In short Anil Ambani feels the Indians are fools.. But let me tell all its not true they have to pay huge price for the same.. Daily 1000s of people are closing account with them. IN CASE YOU HAVE ACCOUNT WITH THEM CHECK YOUR LEDGER AND AWAIT A BIG SHOCK I AM SURE YOU WOULD RUN TO THE NEAREST BRANCH TO CLOSE YOUR ACCOUNT.. This site is only for big Traders in case your tarde vaule is 05.00 lacs a months them it may be OK for you now but god only knows for how long as they change their Brokerage any given time-- so better stay away

 

[vijaydhody]

Reliance Money is the worst online Portal. Since the inception they have made many changes by reducing the services provided on Portal and increasing the brokerages & they deduct money without the concent. which is illegal.
of the customer. Weather you trade or not you have to pay them Rs.1000/- every two months. Overall They have gone away with intial schemes which was just to lure customers ( Just with in a year ) . In short they feel the Indians are fools.. . Daily 100s of people are closing account with them. IN CASE YOU HAVE ACCOUNT WITH THEM CHECK YOUR LEDGER AND AWAIT A BIG SHOCK I AM SURE YOU WOULD RUN TO THE NEAREST BRANCH TO CLOSE YOUR ACCOUNT.. This site is only for big Traders in case your tarde vaule is 05.00 lacs a months ( Delivery Trade ) then it may be OK for you now but god only knows for how long as they change their Brokerage any given time-- so better stay away

 

[bandlab2]

i have traded with icici, reliance money, share khan, 5 paise.

icici is expensive, poo connctivity, poor service. good for buy and foget type ppl. not for traders

reliance money. chor log. lot of hiden charges, liers. never do with such ppl. ambani's are good sucking the ppl in power and execute big pojects. but not or customer interfacing service business

sharekhan. good, but relationship manager int help me undestand the product, not flexible, doesnt look like the guys who wanted my account at any cost. so left them

5paise. excellent teminal (there is room to improve though), excellent service, they hav reuce my fees without me making any noice, gives free taining on weekends on TA and their teminal. good ppl to work with

 

[tradzman]

Hi , u r so rite on icici ... they r here to grab money from ppl n make their pockets strong ... but whatever said n done they have damn good systems ... i dont think any other broking house can provide that as of now...

I left them only coz of high brokerage ... i used to earn less out of my profits due to their high end charges ...

I found this 5 paisa very unprofessional ... i find their slogan itself lil dicy " It's all about money , honey " ... i dont know.. as an investor i would like to stay away from such ppl ... its not a very good sign ... plus few of my frnds said a big NO for that site ...

i m now trading with rel money n kotak ... i find both OK ... rel money is better as it pinches me less in terms of charges... N kotak i have got good trelationship guy ...

Sharekhan ... i have no clue..

 

[nikki07]

Re: Worst service ever seen -> Reliance Money

Hey , can u give me sm info on this mobile trading thing that rel money has started ?? Is it good ? I wanna try that ..pls give me info

 

[seenu_star]

Hi Friends,

I have a trading and demat account with ICICI. If i want to change over. How should i change to another demat account. I have some shares in the ICICI demat account.

I dont have any idea how to deal. Please give me a detailed details.

Thanks,
Seenu