Fraud Broker and Horrible Service. Review on Idbipaisabuilder

This is regarding some of the horrible experiences I had withIDBIPaisaBuilder - A name which brings sour experiences, extremely poorcustomer service to my mind. I have been using IDBIPaiaBuilder sincethe last 3 years and I have always had problems with it. Everyday Itrade with IDBI, I end up calling them multiple times to resolveissues. 3 Years and nothing has changed. Most of their website linksdon't work. If you buy 20 shares and sell 20, it shows total -40shares. Many times they don't show a lot of your stocks.

According tome - it's one organization with zero responsibility towards customer service.

I will narrate the latest one.

Ihave been planning to do margin trading since the last 2 days. On25/5/2009, I transferred Rs15000, from my HDFC bank account. Thetransaction failed 3 times. The amount got debited from my savingsaccount but never credited back to IDBI. On calling IDBI at around9.55AM, they told its a system problem.After numerous calls and beingon hold for 30 minutes, I was promised that the matter will be sortedout in 10-15 minutes and my account will be credited(Buying power).

Till11.30 AM it was NOT DONE. So I was not able to trade in the morninghours. Finally after calling again they did it for me.(I have wasted100 Rs on phone till then) .

On 25/5/2009 night, I againtransferred another Rs 5000/- and that transaction also failed.Again Icalled up at 9.15 AM on 26/05/2009 and requested them to sort out thematter befoe the market opens. I got shock when they told me even theRs 15000/- transferred on 25/5 has not got reflected and my buyingpower has gone in negetive amount. I was stunned. How can anorganization have such poor processes? And people at the customer deskwho are extremely arrogant towards the customer?

Again I wasgiven a promise by one Mr Mukesh, that he will call me back in 15 mins(At around 10.15 AM).It's 11.30 now I did not get any call. When Icalled up they said Mr Mukesh is busy. Again I have been given apromise that my buying power would increase in 10 minutes.

Thecustomer service representatives were not ready to accept that its amajor problem for the customer. So today also I have not been able todo my trading. And spent 2 hours on phone. Once I was put on hold for30 minutes.

What is a trading account which doesn't allow you totrade in the morning hours and expects you to waste 100 rupees andprecious hours on phone everyday, talking to their customer servicepeople and being put on hold for hours? This is height of arrogance byany organization. When complained they told me to send a mail toescalation@idbipaisabuilder.in, but response for that also!

Aboveall, one act that really put me off, was they slowly taking off moneyfrom your buying power. After a trade if you have some money left inyour "buying power" they silently steal some part of it. I have recordsto prove that. If this happens regularly imagine how big a fraud it is!

They have always been knows for stealing money from your account. Readthis written by someone else:https://consumercomplaints.in/complaints/idbi-capital-market-services-limit
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