SBICapsec - Very disappointing service.

avi10

New Member
#1
Hi,
I have an savings account with SBI bank. And when i decided I wanted to invest in shares, I approached my SBI branch to open a demat + trading account.

I was told by the bank personal that I will be able to open one in two weeks time. And I did all the paper work. However, It took over a month for me to get my SBICapsec password and login id.

Now here are my woes.

1. I have not been able to log into the sbicapsec even one time. Each time I put my username, login password and trading password, the website gives a database error.

2. The login form is not secure (http://) instead of (https://). But the irony is that the page specifically says you need to check if there is a padlock in your web browser status bar indicating that the page is secure.

3. They charge a yearly fees of Rs 900. ie. Rs 400 yearly maintenance charge and Rs 500 one time opening charge.

4. The people who I approached at bank could not help me out of my woes. Even my demat account has not yet been mapped to my bank account. I am seriously thinking of closing my demat account even though I will lose the Rs 900.

I feel cheated.

I would like to know opinion about India Infoline and/or Geojit. Are they reliable and can I use either one for long term investments ?

Geojit tells me they have stopped allowing customers to trade in mutual funds. But if I invest Rs 10,000 they will waive the maintenance and opening charge for first year. India infoline tells me they have a facility where I pay one time only Rs 555 upfront and i will not be charged yearly maintenance charge.

Which is better bet for delivery trade ? Geojit or India Infoline ? Whose software is more user friendly ?

I will be great full for your valuable opinion regarding the same.
 
#2
Hi,
I have an savings account with SBI bank. And when i decided I wanted to invest in shares, I approached my SBI branch to open a demat + trading account.

I was told by the bank personal that I will be able to open one in two weeks time. And I did all the paper work. However, It took over a month for me to get my SBICapsec password and login id.

Now here are my woes.

1. I have not been able to log into the sbicapsec even one time. Each time I put my username, login password and trading password, the website gives a database error.

2. The login form is not secure (http://) instead of (https://). But the irony is that the page specifically says you need to check if there is a padlock in your web browser status bar indicating that the page is secure.

3. They charge a yearly fees of Rs 900. ie. Rs 400 yearly maintenance charge and Rs 500 one time opening charge.

4. The people who I approached at bank could not help me out of my woes. Even my demat account has not yet been mapped to my bank account. I am seriously thinking of closing my demat account even though I will lose the Rs 900.

I feel cheated.

I would like to know opinion about India Infoline and/or Geojit. Are they reliable and can I use either one for long term investments ?

Geojit tells me they have stopped allowing customers to trade in mutual funds. But if I invest Rs 10,000 they will waive the maintenance and opening charge for first year. India infoline tells me they have a facility where I pay one time only Rs 555 upfront and i will not be charged yearly maintenance charge.

Which is better bet for delivery trade ? Geojit or India Infoline ? Whose software is more user friendly ?

I will be great full for your valuable opinion regarding the same.

As you already paid Rs 900 , its better to continue there only.
And as you indicated , you need service for long term sbicapsec is ok for that.
I agree sbicapsec personal service is not good, he did not told you that you also need to activate internet banking , if you already have then you need, transaction rights unless that it will not be mapped.
Now dont wast time, as market may fell now, (as you need long term investment) go to bank get internet banking/ transaction rights , also get the demat personal phone no. in 24hr/5-6hr you will get internet banking/transection rights. Then ring that personal cleary saying your problem & to map now.

you will require IE8/sun java.
 
#3
Vijushimpi,
Thanks for the input. I went and met the bank personal and I have sorted out some of the problems I have faced. I have yet to get my demat account mapped to my online account. It might happen some time this week.

I was also able to log into my trading account for first time yesterday. The problem was the pop-up blocker on my web browser. I hope things get sorted out fast.

Keeping my fingers crossed.
 

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