I am writing to bring to your attention an issue regarding an unjustified deduction of AMC (Annual Maintenance Charges) from my Upstox account.
At the time of opening my account, it was clearly mentioned and advertised that there would be no AMC charges applicable – it was a “Lifetime Free AMC” offer. However, to my surprise, I have noticed that AMC has been debited from my account recently.
This is unfair and not in line with the terms that were promised at the time of account opening. I kindly request you to look into this matter urgently and reverse the AMC charges at the earliest.
Same with me occurred my account is inactive from last 24 months and even I have never ever used it (not even a single trade) but when I opened the app it showed -354 balance and i cannot close account without that paying them.
In response to the resolution(i.e. AMC not reversed) I have closed my demat account with upstox and won’t recommend this platform to my family members, friends and colleagues to have an account on, due to its policies.
I am writing to raise a concern regarding an unjustified deduction of AMC (Annual Maintenance Charges) from my Upstox account.
At the time of opening my account, it was clearly mentioned that there would be no AMC charges – Lifetime Free AMC. However, I was surprised to find that AMC has been debited from my account, resulting in a negative balance of ₹354.
I would like to highlight that I have just opened this account and have never used it for any transactions. Therefore, this deduction is both unfair and inconsistent with the terms that were assured during account opening.
I kindly request you to look into this matter urgently and reverse the AMC charges at the earliest.
I have been going through the same. You are wrongly charging me despite opening my account in “Lifetime Free“ offer. I have raised a ticket, TICKET ID: 9601239. Kindly check my ticket and make it transparent.