Reliance MoneyWorst customer support, issue not yet resolved for more than 2 months!

O
This review was posted by
a verified customer
Verified customer

I applied for a depository account with RelianceMoney on 12th of July 2007 and so for I have not got a luck to look at my own application (forget about getting the account number application has been rejected as per the records and the info which I got after bugging the customer support for hours and days).

Customer support takes around 30 mins to put me on to a representative to answer my queries and I have already called 4 or 5 times this week and get the following message no matter what you do.

"We will get back to you at the earliest. It may take max 24 hours"

The supervisor who spoke to me (couple of times) assured me that he will call me back in 1 hour. I did wait for many 1 hours but no luck.

Here are few queries posted via email :

QRC Number - 171976
QRC Number: 194802
QRC Number - 195055
QRC Number - 215525
reference number - 215526
QRC Number - 221350

Main branch of Bangalore:

Cunningham Road 201, West Minister, Cunningham Road, Bangalore - [protected]-[protected] / 6 / 7 / 8.

Waste to call any of the numbers which they have mentioned on the website, they don't have my application details and no one knows who is responsible for my application. And they promise to get back to you in an hour again no idea where they go, (Please call them back if you have free calls ) I even refused to take the complaint numbers for the calls which I made to customer care ([protected]) as they didn't care for any of my complaints so far.

The person who collected my application at Rajajinagar webworld, Bangalore claims that it is not her responsibility to follow up on the application.

And lastly, there is no response for any mails sent to
customer.[protected]@reliancemoney.co.in

One of the worst customer support ever seen in my life so far.

If any of you have a slightest idea who is responsible for resolving my account creation issue with reliance money, please do update me. Or tell me how I should be approaching consumer court for getting my money back.

Responses

  • Mu
    mukesh .p.lohana Sep 21, 2007
    This comment was posted by
    a verified customer
    Verified customer

    I HAVE OPENED ACCOUNT IN RELIANCE MONEY . BUT I HAVE NOT RECEIVED WELLCOME KIT.I HAVE APPLIED FOR ACCOUNT FROM LAST ONE MONTH.PLEASE PLEASE PLEASE GIVE ME FEEDBACK ON MY EMAIL.

    0 Votes
  • Ka
    Karthik Pandit Oct 04, 2007
    This comment was posted by
    a verified customer
    Verified customer

    RELIANCE MONEY IS TERRIBLE

    There are a lot of issues I am facing in reliance money since last two weak. The market orders take one hour to confirm. If I place a market order at 2:15m then it gets confirmed at 3:15 and then finally gets executed at 3:25pm prices. It is simply stupid. It is terribe cheap service.

    0 Votes
  • Su
    sudeep shah Oct 09, 2007
    This comment was posted by
    a verified customer
    Verified customer

    I have opeden account in reliance money. But I haven't received welcome kit. I have applied for account from last one month. Please give me feedback on my email.

    0 Votes
  • Om
    Omshivaprakash Oct 12, 2007
    This comment was posted by
    a verified customer
    Verified customer

    They are still dragging my application. Its has taken 3 months till date but no luck.

    0 Votes
  • Vi
    Viswa kumar Oct 31, 2007
    This comment was posted by
    a verified customer
    Verified customer

    Yes they are true, I too suffered a lot with them and they are not changing my bank account which I had used earlier as applied a month ago. Pls inform your friends who are willing to start an account in this, go for other best broking companies...

    0 Votes
  • Mu
    Murali Nov 06, 2007
    This comment was posted by
    a verified customer
    Verified customer

    Yes I do agree Reliance Money Customer Support is worst. I got the kit but no use as I am unable to do Fund Transfer for Trading. None of the mails sent to customer.[protected]@reliancemoney.com will be replied. So far I have transfered four times.

    First - Rs.1000/- (An error page is shown but money has gone out from my account)

    Thought there is some setting problem with my browser, changed some setting and retried.
    Second - Rs.50/- (Same case)

    Used a different browser.
    Third Time - Rs.5/- (Same case)

    Tried in a different machine
    Fourth Time - Rs. 5/- (Same case)

    Tried reaching customer care, after lot of try, I was fortunate enough to catch the rep. he was telling me that in case of fund transfer error the amount will be available after 2 working days. As they said all the amount (1st + 2nd + 3rd) Rs.1055/- appeared as balance in Fund Withdraw. But after 2 days it disappeared.

    You are lucky that your application is not processed and you didn't loose money like me.

    0 Votes
  • Vr
    Vrunda Mundwadkar Dec 23, 2007
    This comment was posted by
    a verified customer
    Verified customer

    The service of Reliance Money is worst. I am working in BSNL at Belgaum in Karnataka State. I am already having an online trading account in ICICI Bank, where I was very happy with my trading account account in ICICI Bank.

    But due to my bad time, One of my friend whose son is working in Reliance Money, called me One day and requested me to get some new accounts in BSNL. Because of her request, I made a propoganda of opening an account in Reliance Money in my office and some accounts were processed ( which were supposed to be activated within 20 days but have not been activated till date even after One and half month but their cheques have been encashed).

    After that, I myself was about to open an account with Reliance Money, where I had to contact to their concerned represantative for some silly reasons for many times. This was repeated for One week continuously. Everytime I had to contact on the next day, and his reply was "I will come today" & I was waiting for that day till night. again I will contact on the next day. Neither my problem was solved nor the said representative had the courtesy to call me back for have not done my work for whatever reasons. He never use to contact me from his side. Can you imagine how disgusting it was ?

    At last my petiance was over and I told him that, I was to close my account with 'Reliance Money' & his reply was 'Okay come to the office and fill up a form for that". I don't understand if they really dont need the new accounts, then why initially wandered from door to door for that ? I am really thankful to God that, I have come to know about such a worst Customer Care Department of this company at an early stage.

    After that, I saw this website and the problems faced by others with the Customer care department of 'Reliance Money'. Now I am also worried about the account opening amount spent by my colleagues in BSNL who have spent that by believeing in my word. They may blame me for recommending an account with 'Reliance Money' without any experience about them and especially when I was happy with my account in ICICI Bank. I am now thinking of spenging Rs.500/- for each of them (which they have spent because of me) and closing the entire materr.

    Belgaum.

    0 Votes
  • Sa
    Satya Jan 08, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Same Problem dudes. 2 months no luck. Called representative around 10 times and customer care once. No Luck. I guess the process may go for another 2 months.

    Reliance Money is Bull ###. Go for Share Khan.They promised for my colleagues(Around 5 friends opened at the same time) with in 7 days they will complete the entire process and make you trading online. And the best thing is they kept there promise and did it in 5 days ONLY.

    But the only difference is they are charging around Rs. 2000/- p.a as fee

    0 Votes
  • Ya
    Yaram Vinay kumar Jan 15, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Sir,

    I am vinay . I had received password with capital letters , Small letter & Numerics but i had used as small letters so that my password had locked . Please give me the either new password or Unlock the old password .

    Customer care people were not lifted my phone esterday

    Thanking You sir ,

    Yours Truly

    Yaram Vinay Kumar

    0 Votes
  • Ni
    NITIN PRAKASH Jan 16, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I HAVE APPLIED FOR DEMAT ACCOUNT ON
    22 DECEMBER .MY CHECK IS DEBITED FROM MY ACCOUNT OF RS. 750/ BUT NO INFORMATION IS YET REEIVED.

    0 Votes
  • An
    Anand V Jan 16, 2008
    This comment was posted by
    a verified customer
    Verified customer

    The most worst customer service comes from RelianceMoney. I'm from bangalore and not able to access both my trade in account and e-mail account for the last 3 days. Tried calling reliance money office at 080-[protected]/86/87/88 . Finally able to talk to them, but of no use. They asked me to call the customer care. I've been trying to reach help desk at 080-[protected] for the last 2 days. Tried more than 200 times so far. Some times I don't get the connection, when I get the connection nobody picks up the phone even after 20-30 rings. Very unfortunate to be a reliancemoney customer.

    0 Votes
  • Ma
    Manvender Singh Jan 16, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Hi,
    My password has got locked.
    For this I have been trying to contact the helpdesk for the last 2 hours but in vain as nobody responds there after keep me on hold for a long time.

    Please send me a new password as I have to do apply for Reliance Power IPO today & will miss the opportunity if I dont receive a new password.

    0 Votes
  • Ve
    Venkata Sreenivas Rao Pothuraj Jan 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Hi,
    My password has got locked.

    For this I have been trying to contact the helpdesk for the last 3 days. I even called the reliance money office in Guntur (AP) & told my problem, upon which he said by by 15th Jan evening it will be activated, but now as of 18-01-2008 nobody responded. What a pity...if a Reputed organization is acting in such a way ..then whom shall we trust ? . They boasted fantastic service & when it comes real time nothing works. Recruit some cream staff in call centers & restore faith in your customer.

    0 Votes
  • Aj
    Ajay Sharma Jan 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I forgot my password for online trading through reliance money and no body is there to help out. When call up the customer care no, made to call 50times to go through that no as it is always engage and twice went through but no castomer care exe picked up the call.On line request put twice but answer yet.
    I donot know now how to unlock my password.

    0 Votes
  • Am
    Amara Sahoo Jan 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    i recived my welcome kit after 20days of applied , when i to login
    it says insta trade not activated , in easy trade i found
    1.my limit card showing 48 days only instaid of one year (At the time of opeing this guy at reliance money office told me now they thave offer if you pay Rs 750 , we will get 6 lakhs tradinglimit and one yera validity so chose this type )

    2.my bank linkup not made , i submited my bank change form at the time of openning account ( i give payment RS 750 , check of bank of india,cuttack , one cancel chek of ICICIbank , bajrakabati ,Cuttack. but the brance did not send my bank change form to their Mumbai office .

    3. there is a wrong in my master report i recived , my distict in wrong , my corect distich is JAJPUR but they maintion JAIPUR.

    4.on 7th december (after 4days of reciving welcome kit) , i could not make login , when i try to login it says "please enter your token number again " then i wrote emill due to their number is 9working 9.00am to 4Pm only woking days ) is always busy ,because 90% costomer who open a/c have same type problem, and costomercare representive are unskeel , dont know ABCD of trading and computer knldge.i you get the line at leat you will be on hold at least 30 minutes or more .remmber this is not a toll free number , if have free money stay on hold , if you are luky you will get connected to useless repressentive , he did not know any thing and will ask to stay in line i'm checking , after 10 to 20minutes on hold they will disconect the line with out inform you , this Reliance money Customer care phone line ([protected])

    So i call my branch at cuttack ,orissa Reliance money office Mr Hota +[protected]), but this guy disconnect my phone repitadilly (because regarding delay in my welcame kit i cal him before two time , and he got keep my mobile number) , After 6times i call him from another mobile number , now this guy immidiate pick the phone , when i ask him , this guy telling me, there are twoin brother, so our voice is same and mr. hota keep his mobile in home . i understand this guy laying , so i ask i dont need him , only i need his office number , i mmidiate he give his number , i got coform this is MR. Hota , he did not have any twoin brother .only he want to avoid .
    i visit two time tom their office , they say it will get update withb in week , then after dthat i make many phone calls , email to thei office at cuttack , Reliance money custome care office , i already sent more than Rs 2000.00 for phone call ([protected] )to their office and custome care [protected] , and paying internet charges . but there is no result .
    they all are bloody dumb, their aim only rub people with out providing sevice , once they got a/c opponning money , every thing finish .

    till date i am waiting , let see
    when my bank link up will update.and
    when they will give my limit card .and
    when they will change my correct distict name .

    now i'm dicided not call this bloody niu,numbers again .
    and decide to open a new account i ICICI direct .

    SO , ALL YOU AVOID THIS RELIANCE MONEY COMPANY , if you dont want face same problem .

    Thanks,
    Amara

    0 Votes
  • As
    Ashutosh Bhandari Jan 24, 2008
    This comment was posted by
    a verified customer
    Verified customer

    HI,

    I too had bad experince with Reliance Money.
    Following are the negative points with Reliance Money:
    1. Extremely poor customer service with unreachable support executives and rude & untrained sales agents
    2. Highly user unfriendly website with no option to see what shares you have
    3. Getting account open with all correct details is a challenge
    4. Misrepresentation of charges by sales agents

    I have expereince all four points in person. I was unfortunate that I didnt see this page before signing for the account.

    0 Votes
  • Va
    Varun Jan 24, 2008
    This comment was posted by
    a verified customer
    Verified customer

    WORST STOCKBROKER EVER. [protected] NEVER WORKS. WEBSITE IS TOOO SLOW. KEEPS LOGGING OFF AUTOMATICALLY. CANT PLACE ORDER. TERRIBLE WEBSITE. WOULD NOT RECOMMEND TO ANYONE.

    0 Votes
  • Sa
    sanjay patil Jan 27, 2008
    This comment was posted by
    a verified customer
    Verified customer

    A very bad service towords the reliance demat account. Since from last 15 days i am not able to trade in equity of delivery option, there we feed all options and after pressing transact button its shows the confirmation window, then it start proccesing and after some time it displays the cannot display webpage message in Internet explorer, where as it was working earliar. About the same problem i sent mails to customer service but, no responce from them. This shows the bad service of online reliance trading account, so i thought of closing this Demat account.

    Sanjay patil

    0 Votes
  • Im
    imran Mar 17, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I opened dmat account with reliance money for reliance ipo and they have done mistake in filling my form they have entered my name wrong sayyed to satyed green gate to greem gate & sv road to su road can any body tell me where does this su road comes in andheri west and now when i re applied for correction they are telling me to reopen a new account which will again cost me rupees 1200 so what should i do.......................................

    0 Votes
  • An
    Anil kumar Mar 23, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I have not received my complaint no. as yet. Please let me know about my complaint.

    0 Votes
  • Mu
    Murugendra Mar 31, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Reliance Money is fraud company.

    0 Votes
  • Ni
    niranjan Aug 14, 2008
    This comment was posted by
    a verified customer
    Verified customer

    reliance money service is bleddy useless service

    0 Votes
  • Sr
    srinivasan Aug 28, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Pls Don't Open account in R-money. One of the worst service provider in the world. They eating your money by direct way aswellas in indirect way. They are cheating fellows. ADAG is worst in service. I don't know, why these issues are still not reached to ADA. R he also as part of this issue. Dear friends they also charging more hiden cost from us. Lets go for someother broackage companies. I was very much affected by them. Who will control these guys. What they are doing. I think it is like guru movie ... money r at all the places to survive them...

    0 Votes
  • Ra
    RAJ DEO SINGH Sep 07, 2008
    This comment was posted by
    a verified customer
    Verified customer

    my id and password is blocked .because i m not use the reliance money after 6 month .so plz open my
    user id and pasword
    thankyou

    0 Votes
  • Me
    Meenakshi Sep 09, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I have opened my DMAT a/c with reliance money.com around 5 months back, my appl no is [protected], my DP ID is [protected], I have received shara transfer booklet, security key chain but not the password also no demo has been given so i am not able to use the services.

    0 Votes
  • Pi
    Piyush Ranjan Thakur Sep 11, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I applied for a D-mat account in relince money 3 months ago(19-06-2008) by an ajent, but i have not received any confurmation messager or any document, But here is a person who also applied with me. And his account is already opend.
    The agent is not receiving my call. So please tell me what shuld i do?

    0 Votes
  • Bi
    Binu Oct 12, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I am [protected]% agree with you. This is the wooooooorrrrrrsssseeeeeeeeeeeeee customer support I have ever seen in my life sooo far.. ...

    reliance required RE - ALLIANCE... :))

    0 Votes
  • Go
    goran-djonac Oct 12, 2008
    This comment was posted by
    a verified customer
    Verified customer

    oh!moj boze!hvala, hvala!

    0 Votes
  • Sr
    SRINIVASARAO ANNAM Oct 23, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I have opened my DMAT a/c with reliance money.com around 6 months back, my appl no is [protected], my DP ID is [protected], I have received shara transfer booklet, security key chain but not the password also no demo has been given so i am not able to use the services.

    0 Votes
  • Le
    Leena Dua Nov 12, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I had opened a Demat account with Reliance Money, Belgaum, Karnataka in Sep end. Earlier the person lady who took all required documents from me never told me that the correspondence address proof was not valid. And after 15 days when I called up to check about the proceddings then she told me that the proof was not valid and there was no correspondence from their side. After that I changed the address proof and submitted my passport as my address proof. It has been almost a month now and still there is no communication and I have not recieved my Welcome KIt yet. PLEASE GIVE ME FEEDBACK ON MY EMAIL.

    0 Votes
  • Sh
    shailesh Mar 03, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Reliance money is one of the most unreliable dmat account. It don't send monthly/quaterly statements, so you won't be knowing that where all money it had debited. There are much more possibility of fraud by this firm.

    0 Votes
  • Re
    reliancr Mar 04, 2009

    I am a customer having Mob-[protected], which is showing "CHECK YOUR OPERATING SERVICE"

    I have informed customer care over his mob-[protected] but threre is no respond till now. kindly let me know where is the problem.

    thanking u.
    subhakanta pati
    alternate Mob-[protected]

    0 Votes
  • Pr
    Pramod Apr 23, 2009

    I am also a user of Reliance Capital Ltd I got every thing from this company relating to the account, but yet I unable to transfer amount into my demat trading account, the web page is showing " the bank (State Bank Of India) not support for Online transaction, Use CMS Facility or contact broker / agent, When I met with my agent, he is telling there is no other option to transfer amount into demat a/c for buying process except online money transfer through wesite.
    And another one thing is the company has sent me a mail, if I am not deposit the amount into a/c, they will close my a/c permanantly..
    I am unable to contact personaly to the broker / customer support office in india, because of I am in Saudi Arabia.., if any one having any information on this matter pls forward me..
    [protected]@yahoo.com

    0 Votes
  • Ze
    zenith30 Jun 24, 2009

    I agree to all the comments mentioned above. Reliance money is worst and they are cheaters. Brokers operating for relaince money cheat people. Sales agent and people work in relaince money join together and cheat people. This complaint i am logging against Relaince money based in chennai.

    0 Votes
  • Sh
    shaheen Aug 10, 2009

    Why I quit Reliance Money?


    Or Disadvantages of Reliance Money…


    · Comparatively twice the delay in opening account initially. Took 20+ days.

    · Inconvenient security token

    o Without security token you can’t trade.

    o It creates inconvenience and discomfort more than security

    · Poor trading portal

    o Trading portal is not compatible with Firefox or Opera.

    o In Internet explorer (IE6/IE7/IE8), it stuck most of the time. You need to re-login again and again.

    o JVM installation is also required

    · Poor customer service

    o No response to emails most of the time

    o Otherwise it will take many days to get an email response

    o To email them, you need to login to very uncomfortable email account of Reliance Money Mail (Now associated with hotmail)

    o No TOLL FREE Number for support. All major share brokers have toll free no. for cust.care

    o When an unauthorised tele-trade occurred in my account, they simply said they can’t do anything on the matter. (Case ref:1606762)

    · Inconsistent tariff – Always increasing

    o They increased the AMC from Rs.50 to Rs.200, i.e. 400% increase

    o Limit card turnover limit decreased from 5 lakh to 2 lakh for PR-500. i.e. 60% increase in effective brokerage

    o Rs.15 additional charge was introduced per trade for limit card users


    Shaheen97ATgmailDOTcom


    You have all rights to copy! You may put this article in your website.

    0 Votes
  • Ra
    rande Aug 15, 2009

    Reliance is a big cheater. Initially to attract customers they said that they will charge only 1 paisa brokerage. But it was never 1 paisa. In the name of limit card charges they were taking advance brokerage from the customers. For Rs. 500 they provided Rs. 5 lakh turnover. But after a few days they decreased that limit to Rs. 2 lakh. It means they were charging 25 paise per Rs. 100 for delivery as well as intra day transactions and at both times buying as well as selling. Besides they did not forget to charge there 1 paisa also in contract notes. Then suddenly they increased there that 1 paisa to Rs. 15. So now in addition to 25 paisa per Rs. 100 in the form of limit card charges one has to pay Rs. 15 per executed order. It is for both intraday as well as delivery.
    So it is my humble advice to all that they should not open account with Reliance Money. And if you already have 0ne then close it & go to any other broker after careful study of their charges.

    0 Votes
  • Pr
    Praveen Soni Feb 23, 2010

    Dear Sir,

    I request so many times but no response from ur side.
    I fill the form and give a check of rs.- 1200 for opening new account for Dec 2007 but i am not receive my account kit. my application no is -- [protected]

    so i request to you either refund my money or give me account kit.

    Thanks
    Praveen
    [protected]

    0 Votes
  • Sa
    Sathish Reddy Sep 15, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Reliance Securities is the worst company that I have ever seen in my life, , They know only to exploit customers money, It should be ashamed of itself for doing such a business, , , If its only objective is to make money, rather it should become a PIMP Profiteer... They have least respect towards there customers.

    0 Votes
  • Re
    RelianceMOnet Jun 04, 2011

    Guys head of customer care Mr. Souvik Sarkar from mumbai is aware of all this he has cheated me for 1.7 lac rupees, he never comes on the calls and answers the email as well.
    Mr. Souvik please reach me and resolve the issues

    0 Votes
  • Al
    AlexanderV Mar 10, 2012
    This comment was posted by
    a verified customer
    Verified customer

    Reliance securities sucks!!! My account isn't opening now, as it says wrong token entered. I am a passive user of teh account, opening up the account occasionally once in two months. I wan't to get rid of this account somehow. Here is my action plan
    1. Transfer the shares out to another demat account first.
    2. Give a written application to close the account and refund the proceeds.

    Refer Attachment for error message I am getting.

    0 Votes

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