Unjustified Deduction of AMC Charges – Request for Clarification

General
1

@Ushnota,

  I had opened my account only 6 months ago, and I recently noticed that an amount of ₹354 has been debited from my account towards Annual Maintenance Charges (AMC). However, as per the email communication received earlier, AMC/QMC charges were supposed to be applicable only after 15th March 2025.

  Given that it has been only 6 months since my account was opened, I would like to understand how the full one-year AMC charge has been applied prematurely.

Request you to kindly look into this matter and provide a resolution.

UCC: 2ACDBJ

Thank you,
Dipakbhai Tank

2

Hello @tank_44399085,

Welcome to the Upstox Community!

Thanks for sharing your UCC. Will check your details and get back to you soon.

3

I do experience the same problem. Response from Upstox support is not satisfactory. They are simply referring to an email send on product updates.

4

Hi @MAHADEVAN_30571456,

Welcome to the Upstox Community!

Could you please raise a ticket here https://upstox.com/contact-us/get-in-touch/ and attach a screenshot of the charges you are referring to? Thanks.

5

@Ushnota Please find the reference number #9156264
I am still wondering how Upstox is justifying the pricing changes notification by sending an email titled “Latest Features & Key Updates on Upstox”. One of the unethical business strategy. Upstox should correct this.

6

Dear @Ushnota,

As per our previous communication, I was informed that the AMC charges of ₹354, which were debited from my demat account, would be credited back. However, it has been over 10 days and the amount has not yet been credited.

I request you to kindly look into the matter and process the refund at the earliest.

Thanks & Regards
Dipakbhai Tank

7

Will check this and get back to you, @tank_44399085. Thanks.

8

This is done, @tank_44399085. Please check and confirm, thanks.

9

Is there any response to my concerns @Ushnota

10

Hi @MAHADEVAN_30571456,

This ticket is closed from our end. Please check your email for details, thanks.

11

@Ushnota There is no clarification on the hidden charges mentioned in the email, I sent 4-5 emails on this matter and every time received the same template reply. Any changes in the pricing should have been notified in a transparent manner. I am sure this is the case with all the upstox users.