I am writing to express my extreme disappointment regarding an AMC charge of ₹354 (including GST) that has been applied to my account.
My account was opened during the 2021-2025 batch under the clear advertisement and promise of a “Lifetime Free AMC” plan. I joined Upstox specifically because of this commitment.
I would like to highlight two critical points:
No Trading Activity: Since the day I opened this account, I have never placed a single trade. The account has been entirely inactive, yet I am now being penalized with charges I never consented to.
Breach of Original Terms: Changing a “Lifetime Free” promise to a paid model for existing users without an explicit opt-in is an unfair practice.
I have already raised a support ticket (Ticket ID: 4243), but I have only received generic responses about “revised policies.”
My Request:
I request an immediate reversal of these AMC charges and a waiver of any negative balance. Since I do not wish to continue under these new paid terms, I also request that my account be closed with a zero balance once the charges are reversed.
Please resolve this at the earliest to avoid further escalation to SEBI SCORES.
User Details:
UCC / Client ID: 6HAXR3
Ticket ID: 4243