Jun 07, 2016 06:28 PM
50609 Views
I have been with Zerodha for the last 4 years. They have grown their customer base. They have a competitive brokerage structure, diverse range of trading platforms, including NEST, and an innovative approach to attract customers and headlines.
The most serious drawback is their pathetic & disappointing support team, almost non-existent complaint escalation structure, an attitude that tries to avoid accepting the problems at first, force more than required followup efforts on customer, go into slumber for a long time and finally close the ticket without actually providing a resolution. I have been experiencing it for the last four years. At times CEO intervenes(though reluctantly) to get the resolution done. It is a dynamic world and no systems can be made perfect from day one, so problems are bound to happen. Some examples of their reactions to problems reported:
Problem in contract note(ledger posted amount not matching to CN) - "We did not send this contract note"(until they were told that digital forensics could prove them wrong.
Problems in margin statement - Only escalation to highest level and an ultimatum to close the account could bring a resolution
Profit and loss statement incorrect 2 years back - No resolution, I was told to prepare it manually
Apology letter from CEO on Exchange line failure - No response to specific questions(closed the ticket), took a stand they did not make a profit from the situation, responded to questions only after multiple followups
Profit and Loss statement problem in current year - sitting on the problem for 20+ days(no action taken), forced to wake up from slumber, falsely claimed problem is resolved, proof sent to them again that problem continues along with observation what was causing the problem, slumber again, finally no resolution but they give me back my observation that this is what caused the problem(what a shame!)
It is really difficult to continue with arrogant attitude zerodha has developed over the years and I have decided to look for alternatives.
