I must say—whoever designed your new “customer-friendly” policy must be an absolute genius in revenue optimization (or just someone who really enjoys math tricks). Hats off. Seriously.
Here’s what happened:
You charge 0.05% per day interest on negative balance. Totally fair. Cool. Understood.
But then comes the real magic. You pledge the newly bought shares (₹50+GST = ₹59), give a whole 5 days (so generous), and then auto-square off those very shares, of course charging another ₹88.50. Wait—it’s not over! Then comes the ₹59 again for unpledging the same share. Bravo!
And this happens even if my negative balance is a whopping ₹178.74. Yes. Not crores. Just ₹178.74. The price of a pizza. But your system thinks I’ve defaulted like I’m Kingfisher Airlines.
So now, thanks to your brilliant automation, I end up paying ₹59 + ₹88.50 + ₹59 = ₹206.50 for a ₹178.74 negative balance. And if I blink for few days, this cycle can repeat like a Netflix series—with unlimited seasons.
Also, the cherry on the cake— that one share pledge - was auto-squared off by Upstox was sold at ₹284.75 just to recover a ₹178.74 negative balance and that cost me 32.01 in form of brokerage and other charges.
Seriously, who thinks of this stuff? To sold one share of Rs. 284.75 at cost of Rs. 32.01/-.
So let’s match the math again: for a negative balance of ₹178.74, your system triggered charges totaling ₹208.50 (₹59 for pledging, ₹88.50 for auto square-off, ₹59 for unpledging), and then sold my pledged share at ₹284.75, from which cost me ₹32.01 as brokerage and other charges—leaving only ₹252.74 to adjust—still leaving me with a negative balance of ₹132.80, all thanks to your flawless logic loop.
And that process will continue in the name of your great policy. And I am afraid of Upstox - as this method of recovery is seems never ending
And you tell me, “We emailed you.” Oh really? I get so many emails from Upstox, most look like spam or motivational quotes from your social media team. I guess I missed the IMPORTANT: We’re about to rob you in slow motion one.
Look, I’ve been with Upstox for over 7 years. That’s more loyalty than most modern marriages. But even marriages have limits. If your policy means I have to babysit my account every 3 hours to avoid a ₹208 hit on ₹1 negative balance, then I have no choice left but to say goodbye.
Maybe consider putting a sensible threshold—say, ₹2000 negative balance—before triggering this whole pledge-unpledge-auto-squareoff circus. Also, there should be a clear, upfront intimation on the very first instance of negative balance, so customers can take timely action and avoid unnecessary charges. Or better yet, get someone not from finance to design customer policies that actually consider customer convenience.
Anyway, congrats on the increased revenue. Sadly, you’ll have one less loyal customer adding to it now.
Also, I’d love to dig deeper into this wonderful policy and enthusiastically recommend that regulatory authorities implement it across all trading platforms—so every customer can enjoy the same delightful experience of watching small negative balances magically multiply through endless charges. Clearly, everyone needs to learn some serious finance and debt management the Upstox tech way.
Goodbye Upstox. It was fun until it wasn’t.
(A 7-year-old relationship—auto squared off… with no alimony)