RKSV - Questionable support and service

[Delta99]

This is my continuing experience of poor support and service with RKSV. The question is what's happening with RKSV?

Are they fooling the customers? Or is it that they have become too big to really care? Or stalling and using customer's funds under excuse of COVID? Or else are just being incompetent?

I had remitted funds to RKSV on Friday, 3rd April. It was an internal bank transfer HDFC to HDFC account. The debited was made to my HDFC account and transferred to RKSV on the same day.

Considering that it was the weekend, I did not push for the credit, but expected the funds to be reflected into my account by the 7th. atleast, i.e Tuesday. Fair?

Some background to this : My account is with HDFC bank. RKSV too has account with HDFC bank. So when I asked the bank to remit by NEFT, they said it was internal transfer (Mumbai to Mumbai as well) and hence, to deposit the cheque into the customer's account and it would get transferred immediately. I did the same, and informed RKSV. I received an SMS confirmation on my mobile the same day stating the funds were debited/remitted. But RKSV has not been able to credit my account from the 3rd till today 8th - April!!!

I tried calling RKSV support. But it is not accessible and after a long wait, gets cut off.

I tried emailing them. But email support is withdrawn.

I tried messaging them from the Upstock platform, but the response is delayed by days/5-8hours. And then, they reply, it is just one liner, and instead of a resolution, there is an excuse stating 'our team is looking into it' etc.

Even today, I received a similar message. Stating that HDFC bank is not registered with your demat account. Not my problem. The update of my bank account is pending from your end.

So instead of resolving a problem, what's being done is making the customer run around, while the funds are lying with RKSV.

Honestly, the level of incompetence and disregard for customer and poor quality of service resolution is just unacceptable.

Not sure if anybody at RKSV cares, but it is important that traders and investors know that RKSV is letting its standards down and is bungling handling its customers.

I making this post with the proof so that even if someone at RKSV bothers to read this, they will know that it is time for them to pull up their socks.

PS : And oh, BTW, got logged off from the system for about 30 minutes without reason.

 

[Delta99]

Day 6 : Funds remitted to RKSV, funds not credited to account.

The absurd saga of RKSV continues..... Inspite of sending proof remittance to RKSV, and inspite of complaints, it is day 6 now, but funds are still not showing in my account.

Yesterday morning Wednesday 10:25 AM, got a message from RKSV support stating : Sorry for the inconvenience caused. We are working on it, kindly check after sometime.

So what is sometime as per RKSV? A few hours? Don't know if it is days, weeks or never. Checked my account today morning, funds are with RKSV for the last 6 days, but not in my account.

Will update on this thread.

 

[Vmaster369]

why wouldl u transfer on weekends

Best is to transfer neft at 9:10 am
thats the time i use :xD gets money instantly in account

when presession is over do transfer money b credited instantly

in rksv i added a new bank process was automated aadhar verification and al set
in finvasia process was automated to but in end bank is still not added after verification oo
NOw thats llow blow lol

 

[timepass]

Maybe lockdown effect. Not all work can be done from home. Maybe some things require a signature or something.

 

[Delta99]

New financial year. Wanted to start on first working day in Apr.

As said, It is internal transfer. Bank refused NEFT since it is HDFC to HDFC account. And the transfer is instant. Proof/confirmation sent to RKSV.

Can understand COVID situation. But delay as well as stonewalling, and deflecting responsibility to close the ticket stating our team is looking into it, is unproessional and unacceptable.

why wouldl u transfer on weekends

Best is to transfer neft at 9:10 am
thats the time i use :xD gets money instantly in account

when presession is over do transfer money b credited instantly

in rksv i added a new bank process was automated aadhar verification and al set
in finvasia process was automated to but in end bank is still not added after verification oo
NOw thats llow blow lol

 

[Delta99]

Timepass,

This is enough time to get things in order. Otherwise, even a week, or two or month from now, the excuse can be given of lockdown.

Traders have to look after their own interest. Brokers don't really care, because there are a few providing good service. It is like telecom situation. People keep switching between Jio / Airtel and Voda now... And if you get a bad service from one, there is little you can do about it.

Maybe lockdown effect. Not all work can be done from home. Maybe some things require a signature or something.

 

[timepass]

You do have serious issues. Contact SEBI about it. You will find the link to post a complaint on their website.

 

[stoch_guy]

https://www1.nseindia.com/invest/content/register_ecomplaint.htm
Report here, they should be banned. If multiple user raises then NSE will take seriously. My one issue is resolved by nse. But for other issue nse guy asked me to create new Issue.

 

[Delta99]

Thanks Timepass. Yes, it is serious.

RKSV cannot keep customers funds with them for days together and not even tell what the issue is.

If they had said the amounts that I remitted to them with proof and transaction reference was not received, I would have taken it up with my bank. But they are silent on this point, so it is clear that the funds are with them.

Will still wait it out till my patience runs out. Will then decide.

You do have serious issues. Contact SEBI about it. You will find the link to post a complaint on their website.

 

[Delta99]

Thank you Stoch_guy. I did not know about this. Much appreciated.

https://www1.nseindia.com/invest/content/register_ecomplaint.htm
Report here, they should be banned. If multiple user raises then NSE will take seriously. My one issue is resolved by nse. But for other issue nse guy asked me to create new Issue.