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19%
1.41 

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They always charged more than they say
Jul 08, 2016 09:06 AM 25690 Views

Customer Service:

Promptness:

At the time of opening my DEMAT account the representative had promised me a brokerage of 0.15% and although there were other brokerages which had much lower charges, I went with HDFC Securities because I thought HDFC was a big, reputed financial institution and that they should be reliable and that give me a bit of comfort. How wrong I was. After the initial 1L of "free transactions", I noticed that in subsequent transactions they were charging me a brokerage of 0.5% which was more than three times what they had promised. This began an ordeal over the next several months wherein I kept calling them(I must have at least a hundred calls and visited their branch at least twice) reminding them that they had promised a brokerage of 0.15% while they were charging 0.5%. I called the representative who had opened my account(Mr Paul). Initially, he promised to fix this, then he said he needed permission to do this. Then he asked me to talk to someone else who initially promised to fix this. Then he mentioned some problem with the system and asked me to talk to some someone else. And so on and so forth. This continued for about two months and finally someone said that the best that they can do is change the brokerage fee to 0.25%. I said OK and that's what happened. But then I noticed that in some small transactions they are still surreptitiously charging me the higher fee.


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