@Ushnota
Hi Upstox Team,
I opened my Upstox account under the clear understanding that it was a Lifetime AMC-Free account, as was prominently advertised at the time.
To my knowledge, no prior communication was sent to inform me about the initiation of AMC charges. I have not received any email or notice regarding this change. If you claim such a communication was sent, please share the exact email with date and content immediately.
Frankly, it is extremely disappointing to see a platform promote a āLifetime Free Accountā and then start levying charges years later without any transparent intimation. I chose Upstox with a long-term commitment in mind, but actions like this severely shake customer trust. If no prior notification exists, this charge is unauthorised, and I expect a full reversal of ā¹265.50 currently reflecting in my account, as well as a refund of ā¹88.50 already deducted.
Iāve also come across multiple complaints on public forums and the Upstox Community regarding this very issue, where refunds have already been processed for others in similar cases.When i sent a mail on this issue, the response is pathetic stating we sent a mail on this and if you need to close the account follow the steps. Are you guys ready to lose customers just like that? When someone is raising concern, you will have to make them understand rather than mention about account closure.
I urge you to treat this matter with the seriousness it deserves and initiate the necessary reversal immediately.
1 Like
Absolutely this must be addressed, i had also same issue. they advertise for lifetimefree amc and now they are charging.
now they will reverse by saying as a gesture we refunded back and will tell u that this is only free for ist year.
@Ushnota @ABHISHEK_2564441 Did not get a proper response and kept sending me template answers. Closing my account and moving my shares and mutual funds to a different Demat Account. Pathetic service and nobody bothers to retain customers. Looks like they are ok losing customers. I have been chasing them since August 1st week.
As I have noticed that there is negative 354/- rupees balance in my account. I have escalated this complaint with ticket id #9599397. I received a reply from Uptox , wherein all the details of the charges have been explained. I would like to state that while opening my account, it was clearly written that annual maintenance charge is 0. And thereafter, there was no proper notification before deducting annual maintenance charges from my account. There was only the generic email with annual maintenance charges deeply hidden inside in a link which is mostly avoided while reading the mail. So, I believe deducting annual maintenance charges without proper notification is undesirable and unjust. I would like to request you to kindly look into the matter & provide a waiver for at least this financial year.
I would be highly obliged if you kindly help with this issue and get my ticket resolved.
Regards,
Trishajit Das
7HAA5Z