I had Opened my Reliance Money account on 30th November 2007 through Mr. Anant Patel, mobile no. 9974008234. The account opening charges cheque got cleared immediately on 04-Dec-07 itself.
On Dec 31st they call me to know the mother’s maiden name for account creation.
On 15th Jan 2008, during the Reliance Power IPO, I visited local RMoney branch because the Welcome Kits was not yet received. I got it from Blue Dart courier myself.
After opening and make 3-4 transactions the limit card got expired. It was found that instead of Rs.500 for 1 year with Rs.5 lac turnover, I was alloted Rs.500 for 2 months with 1 crore turnover which was useless for small investor like me.
The limit card got expired on 7th March 2008. I made 1st verbal complaint to Mr. Anant on 7th itself who was agent to open my account.
Subsequently logged following formal complaints with Reliance money on email, their call center and in person with their local outlet at Udhna Darwaja, Surat.
Their complaint nos. are 821325 dated 13-mar-2008, email complaint on 18th Mar 2008 and followups on 18th 24th 28th 31st March. Talked with Surat cluster head Mr. Sujit Nair (mobile no. 09327001611) on 24th and on 31st not does not promise to resolve. Says it will takes its own time.
Similar complaint for my fathers account also has happened. Complaint nos. are 682584 dtd 12-Mar, 812284 dtd. 13-mar, original complaint 682584 on 9-Feb-08, 812284 on 13-mar-08, 832251 for email on 14th email, last active complaint 893666 of 18th-mar. I asked them to refund me account opening charges and close my accounts but the would not do that either nor resolve the problem in given time.
I feel that Reliance Money is engaging in unfair practicies and they must be audited for such transactions. The reason why they are taking so much time is they might be doing some clean up activity in their database for unlawfull or illegal transactions.
I am a user of IciciDirect.com since Aug’2002. I must say that they charge little higher but are commited to customer service.
I got lured to open the account based on annual recurring charges only with Reliance Money. My advice to others is not to get lured with offers from cheap, Low Class organization like Reliance Money. Their employees have a lot of negative mentality who have no concern for customer’s problems.
Reliance Money is Worst organization, infact it is third class, actually even worser than third class or if anything more is possible.
The CMD Anil Ambani who was talking about Governence within the organization before the split should do some introspection and first of all follow it for his own companies rather that being loudmount in public.
Net net, one has to think 1000 times before engaging lousy, cheat and third grade company like Reliance Money.
To take the matter further I have logged complaint in consumer formu on 31st Mar 08 the number for which is 571. I urge other fellow members to do the same and log the case with consumer forum. The url is https://core.nic.in/ where in one log online complaint in the forum.
We must all get to gather to teach lesson to lousy companies like Reliance Money and others.