idbipaisabuilder is the worst of all

[brainz]

Hello all,

I would like to share my bad experience from IDBI.

I have applied for an account in 1st week of Dec and they have promised me that the account will be opened within 2 weeks, however even after a month, i havent heard from them. Finally, i called them and enquired the local customer executive who took my forms for my status and he told me that due to some technical issues they couldnt process it and it will be opened shortly.

Last week again I called up and yelled at him and he told me that its opened and the kit is in the mail, i didnt get it in the entire last week. I finally called him up and protested and he came to office with the kit and left without even showing a demo.

The site sucks, it only works on IE with MSJVM installed, the mutual fund page is broken, it refuses to load and it perenially showing due to techincal reasons , they cant process my mf request.

I have tried calling their customer care people in bombay and either nobody picks up or its perenially engaged.

They havent replied to my emails which I have wrote to them yesterday morning, i even cc'ed it to thier escalation manager, no reply yet.

If this is the way they treat their customers, i strongly suggest you all to stay away from it.

They are BASTARDISING ONLINE TRADING In india, I never seen such a bad customer care from any of my financial advisor or brokers.

Please be aware and stay away from them.

 

[vkapoor]

hi
this is vishal from IDBIpaisabuilder, mumbai HO.
we regret the inconvenience caused to you. request you to mail me your contact details at [email protected] so that we can arrange for a proper demo and solve any other queries you may have.
once again, we are very sorry for the inconvenience.
thanks and best regards
vishal kapoor
manager-marketing
IDBI Capital Marker Services Ltd.

 

[alpha1]

Hmmm, why does it always happen that ppl respond only after a problem has occurred, but dont take any action while it is brewing?

Ofcourse, in this case you didnot know in advance.

 

[jesse livermore]

Hai
Go For India Bulls .brokerage Is .02 And .2 For Intrday And Delivery.
Jesse

 

[rahul_trader]

Hi all,

There is a problem with all the brokers some cases just go out of hand. My experience with paisabuilder was really good

I called them up at delhi branch the very next day guy was there to fill in the forms and with in a week everything delivered to me one by one the best part is when I opened the paisabuilder i didn't know it was requiring jvm so called there representative he was prompt enough and helped me download it and guided me how to go about it. Then when my password got blocked after a week because of my fault and account status was showing deactivated. I called them up they told me I have to write a mail to bombay customer service when i told them i have to urgently sell my shares those guys made all thing set right for me in five minutes..imagine a small investor like me getting such good attention. After a week of struggling through the website when things where not good for me navigation problem I called up again and they called me inthere office for a demo and i got a good demo. I am happy with them but if i look at the bad experience i got from ICICIdirect same goes here like our good friend mentioned above.

so guys these type of problems happen everywhere u name a broker and u will get dozens of people speaking postive and same number speaking negative.

so guys we are Indian Traders and with this a tag called patience comes first even when we are loosing our hardearned money because of some other's problem still we have to carry on.

cause we dont have any choice thats the truth and another truth nothing can be done in this case.

so all the best to all and trade well

 

[xtberia]

hi
this is vishal from IDBIpaisabuilder, mumbai HO.
we regret the inconvenience caused to you. request you to mail me your contact details at [email protected] so that we can arrange for a proper demo and solve any other queries you may have.
once again, we are very sorry for the inconvenience.
thanks and best regards
vishal kapoor
manager-marketing
IDBI Capital Marker Services Ltd.

Hi Vishal,
I am a new customer of your online trading service. Allow me to begin by complimenting your customer service representative, Mr. A. Ali, of your Kolkata office, who took pains to allay most of my fears regarding operation of my account with IDBI.

It is pertinent to mention here that of late, couple of my emails regarding buying power and sale of shares, have not been addressed with due promptness of an esteemed financial institution such as yours.

Imagine to my consternation when I found that the sale value of shares of a particular bank that I had sold, on PTST basis today, as reflected in the 'Buying Power' report is much less than that reflected in the 'Today's Trades' section.

There was another email which I had sent to the customer service department regarding 'Open Settlement', which so far has met with no reply.

I am a humble investor and absolutely new to the world of investing in shares and online trades. It would not be unjust on my part if I were to claim a significant amount of active help and cooperation from IDBI Capital Market Services Ltd. Especially, moreso, with regards to PTST (or should I term it as 'BTST'), margin trades, etc. and the financial implications thereof.

Although, I must admit here that I am familiar with the concept of operations of PTST and margin trade, I am frustrated by the lack of knowledge from IDBI Capital Market Services Ltd. with the exact methodology of operations and debit/credit of funds to my account with respect to shares traded.

Is there anyway that either you or any of the forum members who may have active interest in IDBIPaisabuilder.in, can assist me in this matter.

Thanks in advance.

 

[jaypee]

hi all
i too have a bitter experience in idbi paisabuilder.
first of all the applet is very slow
second the service of chennai branch is worst,i seriously recommend the bank to close the branch.
thirdly the customer care center is dead.
now i moved to geogit.

 

[saji oommen]

Hello jaypee,

Could you provide little more information regarding geojit like

1. Are you using their silver or gold plan of web based trading. Is it fast in updating quotes on realtime basis and does orders placed get executed in time or not. Have you experienced any disconnection problems. Since browser based platforms are kown to be slow in refreshing and updating quotes.

2. Or if you are using their ODIN (platinum) how good is it. For ODIN they require a minimum monthly brokerage of Rs 2000/-.Is there any restrictions on the scrips in NSE you are allowed to trade other than Trade to Trade scrips category.

3. What is the number of times exposure they give on cash deposit for intraday trades and delivery based trades. For example for India bulls it is 7 times for intraday and 4 times for delivery.

4. Or any other points you may have noticed or experienced while trading with geojit

Regards

Saji

 

[xtberia]

hi all
i too have a bitter experience in idbi paisabuilder.
first of all the applet is very slow
second the service of chennai branch is worst,i seriously recommend the bank to close the branch.
thirdly the customer care center is dead.
now i moved to geogit.

Sadly, there is no active branch here in Kolkata. I am told that there are plans to setup a call centre to cater to the demands of the people living in West Bengal. So far there seems to be little evident by way of progress.

Insofar as the customer care in Mumbai is concerned, there is precious little that those customer care officers can do. In my case, I have found out to my cost that the goof up in almost all the cases lies with the software used.

The customer care officers have been quite efficient in handling my queries for most parts, but unfortunately, they too are helpless as regards the vagaries of the software are concerned.

Many of my office colleagues who were considering IDBIPaisabuilder for their online trades, have now shifted their focus to Sharekhan Limited. Indeed my colleagues and my friends have already filled up the relevant application forms with Sharekhan Limited.

Lets hope IDBI Capital takes serious note of the situation and takes up proactive and result-oriented action and steps to mitigate the problem.

 

[seshasayim]

Hi everybody,
This is M Seshsayi from IDBI Ltd....I am retired from IDBi now,,,just seen various quotes about the great IDBIpaisabuilder site...i too have a bitter experience with them...and mean it .....its very bitter....
In the initial stages, paisabuilder was a bullshit website with no info for retail clients. i had a offline trade account with them from 5 years and was very happy with the services,,,but after sometime i recieved a letter that i have to convert the account to online...or to close the account....it was nothing but a kind of Zabardasti.
I will start things from ascending part,To start with, i filled up the Application and didnt recieve the start kit after 15 days. after frequent follow ups with the Account opening staff at mafatlal chambers, who are very oversmart in their approach i got my id and password, secondly the Demo given to me by the officer was very fast, the reason was he wanted to reach other client in idbi tower itself

Initially i started with calm, as was not use to the system , but slowly and steadily i found out that i had fallen into a well which never had water in it. The Bank transfer take around 24 hours and after 2 calls to Customer care,then you cant see the Trade done onto the next day. The Portfolio mgmt service is a cow-dung. if i take 20 ongc the portfolio shows 20, after selling it , it shows 40....logically ongc should disappear or must be 0.

The streaming site is at a halt after every 30 mins (approx 1 to 2 mins halt) ,the my e-mat section does'nt show my demat Account number. after i withdraw funds back to Sb, the site promises till next day 12.30pm, but is done at end of the day.
I spoke with many people of IDBIcapital such as Ganesh pai,shyam panikcer,ashok kumar,sanjay pania....after speaking to them i just understood one thing...these guys are just doing timepass and a customer is of Zero value for them.
The custcare is not reachable or hardly reachable between 11 to 3, when we face lots of problems in the site. I spoked to some lady Jenings and asked her 4 Queries. First was I asked her will i get any paperwork for the MF's Purchased from you, the Answer was NO, when asked to connect me with MF dept, the Answer was MF dept is not working on weekends .Secondly i wanted to know my Stock holdings,she said they are also not operating on weekends. Thirdly i wanted the staus of my Fund transfer from SB to Online....the Answer was same, the concern person is not operating on weekends, call on Monday and lastly i asked please connect to your immediate supervisor, the answer was not available on weekends,,,,,Then after some days of frustration i started mailing the AVp of Paisabuilder.Mr Ketan Trivedi, i posted my grievances to him on mail and initially got some replies about his developement on the site. The next time i mailed him , he never replied.......
So in short in IDBIPaisabuilder each and every person from executives to AVP's are Chor Minded, useless,hopeless,and pathetic. After getting such awful response from Mr Trivedi , i stopped trading with them and i realised that people like Mr Trivedi are just doing Time pass and spoiling the name of the IDBI Brand.....But there are also some helpful guys like Dharmendra darji, charusheela ,sandip ghag,Amith manjrekar who are gem of a person,
but the other lot of gopal,manish shah, ashok kumar,ketan trivedi,ganesh pai are really a pain
My last request to traders are that people dont open account with Paisabuilder as would give you unneccasry pains and no profits