Unjustified Deduction of AMC Charges – Request for Clarification

May I know your ticket ID, @AKSHAY_1835268?

@Ushnota Ticket Id :- 9425430

@AKSHAY_1835268 -

Sure. have passed it on to the relevant team to check this. Thanks.

@ATUL_RAJ_20242476 -

Your ticket ID 9430613 is now closed. Thanks.

I have raised a ticket regarding the same issue of unjustified security charges of ₹ 354.

Ticket ID - 9457076

@AARUSH_38644583 -

Have passed on your ticket ID to the relevant team to check and revert, thanks.

Hello Team,

I have 2 upstox account which are created as part of lifetime free account but what i see that, you have charged AMC fee on both of my accounts.

Could you please reverse this fee in order for me to continue using upstox for future trading?

Details are below:

Account ID: FJ3290

And the same has been deducted on my other account

Account ID: 6HAMZZ

Please resolve the issue as soon as possible.

@HEMANT_3060852 -

Will DM you regarding this, thanks.

1 Like

@AARUSH_38644583 -

Your ticket ID 9457076 is resolved now. Please check and let us know, thanks.

Ok thanks

1 Like

I am facing same issue

Incorrect levy of AMC charges for BSDA account

They are not refunding

Ticket ID - #9491590

Noted your Ticket ID. Will get back to you with an update soon.

I am unlawfully charged AMC of Rs 354 which was lifetime free AMC when I opened account. Plz reverse the charges. DONT CHEAT WITH YOUR VALUABLE CUSTOMER.

Ticket ID : 9497274

No Resolution Given by Upstox Email Support Team & they are not ready to reverse the charges. @Ushnota Plz make sure this will not happen in future & reverse the charges.

Hi @PALASH_43868056,

Your ticket ID 9491590 is now resolved. Please check and let us know, thanks.

Hello @Ushnota

Complaint Regarding Unfair AMC Charges on BSDA Account

Ticket No #9522370

My account was also charged 354rs even when my account is BSDA but also it was charged to an account that is BSDA even as per Upstox CMR report.

When I opened this account in 2022 through your customer care canvassing, I was clearly informed and assured that this would be a Lifetime Free Demat Account. Based on that assurance, I agreed to open the account. However, without any prior notification or consent, you have now charged AMC to my account.

I have already contacted your customer care multiple times, but the only response I receive is to pay the charges, which is both unfair and misleading. This amounts to mis-selling and violates fair trading practices.

And the customer support has been of no help even after raising a ticket and sumbitting all the CMR reports got a generic email reply about the changed policy where they did even care to edit email properly.

similar thing happened to me but its ridiculous that it has been done with so many users which creates doubt in mind to use this broker. though madam has refunded the same but that does not escape from the credibility. madam told that after one year it will be free. let say if have 10 family account how much it would effect me.

@Ushnota

Similar issue with my account. I opened the account in 2014 under Lifetime Zero Demat AMC, and I see that an AMC charge has been made to my account, stating that a mail was sent on 14th Feb. However, that mail does not mention anywhere that all lifetime free accounts will be converted to AMC accounts.

My ticket - ID[#9530802]; kindly help revert the AMC charge.

I have been trying to close my Upstox account, but I am not getting any satisfactory response from support.

My account was opened under the “Lifetime Free AMC” offer, yet AMC charges have been applied even though I have not done any trading. I have already raised requests for closure, but the issue remains unresolved.

Please help me with the immediate closure of my account and confirm once it is completed.

Upstox ID: 7QBC88

Facing the same issue, negative balance of Rs. 354 is being shown. AMC has been charged despite the fact that the account was opened under basic type and was free when opened.

very unethical business practice on part of Upstox.

please look into the matter

7UAQE9

Me too, facing this issue. Seeing a -354. I don’t even used the service for a year now. The fact that you added that without any opt-in for me is evil. Please remove that from my account and then I will close upstox account.

ticket - #9755274