It’s been 3 years since I have been using Sharekhan. Their website sucks a big time! Their customer service is a bigger nuisance. I believe the services are no better in the other banks’ websites but the past 2 years it has deteriorated to such an extent that I have made huge losses on account of the website failure.
Imagine the plight of a trader who wants to sell his stocks and is unable to do so and the prices fall and fall but he can’t trade. He calls up the customer service and no one picks up the line for hours and by chance if you are connected, your details would be taken and you would be asked to hold the line and then guess what - the line gets disconnected. An hour may be an exaggeration but I have noted that it takes atleast 7-8 mins to get connected to the customer service and the average time to get connected is 20 minutes. The worst part is that they disconnect the line without any mercy on the users. They do not have a tracking mechanism either - God, would someone teach them how to manage a call centre!
The site is often down nowadays. I must accept it wasn’t this bad 2 years back. It’s the scalabiity that the management has not been able to manage.
When you transfer money from your bank, sharekhan.com(the host) is sometime unavailable and your money(though it gets debited from your bank) never gets transferred to the Sharekhan.com account. I have checked a couple of times and it seems that the money lies in the suspension account in Sharekhan. To make matter worse, the customer is charged interests for not getting the money on time.
The portfolio does not get updated frequently - so you get a false impression of your portfolio.
The reports generated do not reflect the shares bought in IPOs and the share splits/ bonuses. Its difficult to track all such transaction.
To sum it up all - Sharekhan.com is a complete failure!
"When you need to talk to them the most, they are never available" - that should be the punchline of Sharekhan.