6 Months Feedback & Problems Facing With Zerodha Client Services.
Everyone is praising Zerodha for this and that. But as a client I have find that they are batter then other in terms of brokerage but not good at customer / client care.
I felt helpless with them sometimes. A few repeated problems are below.
1) Funds transfer to your account using NEFT
I dont have Axis or HDFC account so I linked one of my account with my ICICI bank and one of my other family members account with IOB bank. Once I had some news about a stock and I thought to buy it in bulk I made a extra funds transfer at 8 PM from my ICICIBank and mailed them they give copy pasted reply to me that most of u were aware of. I can not tell whole story but they took full working day and 6-7 calls + 2 mails to reflect those funds in their account. And finally they added funds to my account after wasting whole day. After this I come to know they dont take 3-4 hours.
If someone is thinking of blaming my ICICIBank then let me tell you same thing happens to my other family members account (IOB Bank).
If someone make NEFT to me I get it in 2 hour max but the bank they have takes hours, not less then 5-6 or whole day. NEFT make 11 clearances a day but I guess with them RBI do it once a day.
Actually same thing happed to my friend today he made a transfer at 9.30 pm and he just mssged me that bhai abhi tak nahi add hua money kya karu. He is using IDBI Bank.
2) Payout requests delay
Its similar to payin request if u make payout request today morning then forget that u will get even next day I made 2-3 times. Every time same delay. I have seen their site saying 3-4 hours but they tells their customer that they process payout request every evening 7 PM. Even if they NEFT the payout 7 PM then u should get it next clearance which is next day morning.
3) They Really Dont Give Leverage 5 times and 10 times
When I started I was told that they are giving min of 5 times intraday leverage on all NSE stocks and in FNO stocks they give 10 times. I enjoyed this leveraged many times but suddenly I found that it has started to asked full margin in Z stocks which I trade most. I called them phone operator told me they never gave Z script leverage I told them I was having this privilege but they denied. I posted this in Zerodha thread then I got reply that they have stopped this because people misusing it.
Next setback was when I brought script in B category 2 days ago and got Zero leverage. I called them they keep on claiming this is Z script but later the lady handed over to another operator who told me we dont have stopped giving leverage on volatile stocks which fall in last few days.
What else ????????????
After giving a great start I feel they are depreciating their clients privileges.
Because they give NOW (most comfortable to me) & low brokerage I am with them even after above problems. But I have some frustration and I wanted to share these problems with someone so I thought to do it here with my fellow friends.
Everyone is praising Zerodha for this and that. But as a client I have find that they are batter then other in terms of brokerage but not good at customer / client care.
I felt helpless with them sometimes. A few repeated problems are below.
1) Funds transfer to your account using NEFT
I dont have Axis or HDFC account so I linked one of my account with my ICICI bank and one of my other family members account with IOB bank. Once I had some news about a stock and I thought to buy it in bulk I made a extra funds transfer at 8 PM from my ICICIBank and mailed them they give copy pasted reply to me that most of u were aware of. I can not tell whole story but they took full working day and 6-7 calls + 2 mails to reflect those funds in their account. And finally they added funds to my account after wasting whole day. After this I come to know they dont take 3-4 hours.
If someone is thinking of blaming my ICICIBank then let me tell you same thing happens to my other family members account (IOB Bank).
If someone make NEFT to me I get it in 2 hour max but the bank they have takes hours, not less then 5-6 or whole day. NEFT make 11 clearances a day but I guess with them RBI do it once a day.
Actually same thing happed to my friend today he made a transfer at 9.30 pm and he just mssged me that bhai abhi tak nahi add hua money kya karu. He is using IDBI Bank.
2) Payout requests delay
Its similar to payin request if u make payout request today morning then forget that u will get even next day I made 2-3 times. Every time same delay. I have seen their site saying 3-4 hours but they tells their customer that they process payout request every evening 7 PM. Even if they NEFT the payout 7 PM then u should get it next clearance which is next day morning.
3) They Really Dont Give Leverage 5 times and 10 times
When I started I was told that they are giving min of 5 times intraday leverage on all NSE stocks and in FNO stocks they give 10 times. I enjoyed this leveraged many times but suddenly I found that it has started to asked full margin in Z stocks which I trade most. I called them phone operator told me they never gave Z script leverage I told them I was having this privilege but they denied. I posted this in Zerodha thread then I got reply that they have stopped this because people misusing it.
Next setback was when I brought script in B category 2 days ago and got Zero leverage. I called them they keep on claiming this is Z script but later the lady handed over to another operator who told me we dont have stopped giving leverage on volatile stocks which fall in last few days.
What else ????????????
After giving a great start I feel they are depreciating their clients privileges.
Because they give NOW (most comfortable to me) & low brokerage I am with them even after above problems. But I have some frustration and I wanted to share these problems with someone so I thought to do it here with my fellow friends.
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