I opened my Upstox account in 2020 under a lifetime free AMC plan. However, I’ve recently noticed a ₹148 deduction, which your support team confirmed as an AMC charge under the revised pricing effective February 2025.
As a long-term investor, I chose Upstox with the understanding that there would be no AMC charges. Introducing this fee without clear opt-in or prior detailed communication feels unfair.
Could you please review this and help resolve the issue?
Thanks and best,
Dinesh
UCC: DF9231 Ticket ID: 9517375
@Ushnota This is the response I received from the team. As you can see this was never communicated and never did I signup for. Can you look into it, as this is against consumer prootection as it was never communicated to me
”We would like to inform you that your pricing plan has been updated, and as per the revised plan effective from 15th March 2025, certain charges will now be applicable to your account.
As per our records, there is a debit entry in your account of Rs.354/- for annual demat account maintenance charges for the period FY2025-26 .
Note : These Annual Demat Maintenance Charges (AMC) are non-refundable.
As per our records, the AMC charge was applied to your Upstox account.
It is a standard annual fee that contributes to the smooth maintenance of your Demat account. It ensures your account remains active and compliant, even if there hasn’t been frequent trading activity. While this fee may not have been charged earlier, it has now been introduced as part of our revised pricing policy.
A prior notification regarding the Annual Maintenance Charge (AMC) has already been sent for your reference.
For more details on the Maintenance charge and why it applies, please refer here”
We had previously sent an email notifying you about the pricing plan change, 30 days prior to this update. You can verify this communication by referring to the email with the subject line: Latest Features & Key Updates on Upstox. Thank you.