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Funds india

India,
Karnataka

Consumer complaints and reviews about Funds india

poonam025
 
Jan 26, 2018

Fund India is cheaper

I transferred 25000 in Fund India .Later I came to know that it is third party investor .They send me mail regarding KYC completion. The moment I came to know that this is third party I decided to not to complete KYC and want my money back . The next day funds India support called me and asked me for submission for some document for KYC done because I don't want to continue to invest I refused to complete KYC and ask them for to revert my money back . Later there support employee called me again and again each time I refused to do KYC .Still they have completed KYC without my concern and invested my money . This is complete cheating. I will lodge complain against it in consumer forum . [email protected]
FundsIndia
 
Oct 4, 2017

Reply to: DMAT Account activation process

Hi shabnam25,

As the equity account opening requires additional information, regulations mandate that we conduct a separate, new KYC for equity accounts even if the investor already has already done a KYC for investing in mutual funds. This process takes some time as the documents have to be sent to the relevant agencies for them to approve.

If your account has still not been activated, please write to us at [email protected] from your registered email ID. We'll look into this issue and rectify it ASAP.

Warm regards,
Team FundsIndia
FundsIndia
 
Oct 4, 2017

Reply to: FundsIndia sold my Personally Identifiable User Data

Hi neodwia,

We can assure you that we, at FundsIndia, did not share your details with any malicious third-party.

We do NOT share any customer's personal details with any third-party, unless we are required to share such information under the terms and conditions of the products and services you avail, or we are required to do so by law. You can read more about our privacy policy here - https://pages.fundsindia.com/pages/privacy/.

The only calls or messages you'd receive from FundsIndia would be regarding the opening of your account. If you've received any irrelevant/malicious messages from FundsIndia or from people pretending to be from FundsIndia, please share the details of the same with [email protected] so we can investigate and take appropriate action.

Warm regards,
Team FundsIndia
neodwia
 
Sep 28, 2017

FundsIndia sold my Personally Identifiable User Data

I signed up but did not open an account and after a few days I started getting spam text messages and phone calls from various dangerous callers with dubious schemes and NGOs asking for charity money.

They even called me on my birthday and wished me and asked me to donate to some charity.

Funds India has sold my Name, Phone Number, email address, and Date of Birth.
These people have my PAN number also.

Don't trust FundsIndia! They will sell your identity.
neodwia
 
Sep 28, 2017

FundsIndia sold my Personally Identifiable User Data

I signed up but did not open an account and after a few days I started getting spam text messages and phone calls from various dangerous callers with dubious schemes and NGOs asking for charity money.

They even called me on my birthday and wished me and asked me to donate to some charity.

Funds India has sold my Name, Phone Number, and Date of Birth.
These people have my PAN number also.

Don't trust FundsIndia! They will sell your identity.
shabnam25
 
Sep 14, 2017

DMAT Account activation process

I already have account with Funds India after my all documents and KYC details but still they need minimum 3-4 working days to activate my Demat account with them though they already have all my documents and details with them.

Cant they just use my old documents and activate Demat account immediately rather wasting time in collecting same documents ?
saurabhsinghss
 
Feb 17, 2017

plz refund my money

saurabh singh

What is this technical issue all about ? How can you take decision on behalf of me?
I have invested Rs. 25000 till now but my funds india account is showing bal of Rs. 9000 only.i have called 4-6 times ..but did not pick , What is happening?


I am very much disappointed with the service provided:

1. I have asked for demo after opening this dmat account, but there was no response, finally I got a call for 2 min to make me understand how to add cash to this account.
2. Real time data updation is very poor on your web site.
3. My mutual funds NAV updates after 2 days on your portal, where other online portal updates it on daily basis.
4. There is absolutely no customer service.
5. Higher brokerage

I am very much disappointed with fundsindia. Do let me know what you doing for technical issues, and why should I bear the loses for your technical issues ??

Also Let me know how to close/deactivate fundsindia account.
suman.dabas
 
Jul 25, 2016

Customer Care

I have initiated transfer of funds in Funds in Feb 2016 from my deceased father's account to my account but it has not happened till date.
Even after repeated follow-ups I get consistent reply that we will update you shortly without any defined timeline. All required documents have been submitted but still I don't get updates on what is happening and timelines.

Regards
Suman
Rinkur
 
Apr 5, 2016

Customer care not Responding

Dear Team,

I have try to contact many time your customer care but they are not responding
Podadei
 
Jan 7, 2016

Irresponsible - Adding secondary bank account

I raised a request to add my secondary bank account(CITI bank). They asked me to provide a form and cancelled check/Bank statement in their office. I have arranged that and produced in their office as well. After a week when I checked my fundsindia account it said my secondary bank is ACTIVE and that i can start investing using that bank. But it did not list when i was doing a transaction, so i contacted the customer care. They said CITI bank is not partnered with them and then asked me to use NEFT transaction.

My question to them: Then Why the hell did u ask me to provide all the details and proofs. You could have restricted me while selecting CITI bank in the form itself right?
gkswamy
 
Oct 14, 2015

poor service

If anyone want to join fundsindia they do fast work till you join them. If we want to clear our doubts when we contact them noboby answer the call or they do not have even minimum curtesy to call back. A pathetic service. When i read the complaint by Dr Felix Bast i am afraid
to continue with them
Sameer Asolkar
 
Oct 6, 2015

SIP Transaction happened even after cancellation

on 7th September I purchased SIP of AXIS, which i wanted to cancel (wanted to purchase another MF) so i send email to Fundsindia helpdesk and asked them to cancel my transaction, which they confirmed that they will stop it.

on same day later i purchased SIP of Franklin India, during purchase of Franklin on fundsindia webportal i got error message so i again completed the puchase process, after sometime i checked fundindia website and noticed that Franklin India SIP got processed twice, there was no option to cancel your transaction, i again replied to my previous email and requested them to cancel my transaction of whihc i didn't got replied for 2 days (done follow-up with them), on 10th September i got update that "they have stopped the SIP of Franklin India".

Please find below email communication between Fundindia and me.

Today i got email from Fundsindia that my SIP transaction completed successfully, they purchased all 3 SIPs (1 AXIS & 2 Franklin), please find below details;

**************************************************SIP Purchase confirmation email from Fundsindia ****************************************************************
Hello Sameer Madhukar Asolkar,

Thank you for using FundsIndia.com for your investment needs. We have successfully processed the following transaction request from you:

Sl.No. Holding Profile Folio Number Transaction type Scheme Name Price(Rs.) Amount(Rs.) Units Date
1 Sameer Madhukar Asolkar 91019372301 Purchase Axis Long Term Equity Fund - Growth 31.0229 1,000.00 32.2340 05/10/2015
2 Sameer Madhukar Asolkar 19702032 SIP Purchase Franklin India High Growth Companies Fund - Growth 29.3598 1,000.00 34.0600 05/10/2015
3 Sameer Madhukar Asolkar 19702033 SIP Purchase Franklin India High Growth Companies Fund - Growth 29.3598 1,000.00 34.0600 05/10/2015


Please login to your online account and verify that the transaction is effectively reflected in your current portfolio.

If you have any questions, please call us at (0) 7667 166 166.

******************************************************************************************************************

EMAIL COMMUNICATION Between Fundsindia and ME

=========================== Email to Fundsindia (7th September 2015 13:40) ==========================
Hi Team,

Today I've purchased Mutual fund, please find below transaction details;

I wish to cancel the same as of now as i would like to invest in other mutual fund.

Request you to do the cancel below mentioned transaction and revert me.

Please let me know if any inputs required from my end.

Transaction details:
Date & Time - 07/09/2015 12:58:15
Ref. No. - 2736932
Scheme - Axis LT Equity Fund(G)
Transaction Type - New Investment (SIP)

Thanks,
Sameer M Asolkar

=========================== Got Reply from Fundsindia (7th September 2015 13:49) ==========================

Ticket #140645: Cancelation fo transaction
Your request (#140645) has been updated. Reply to this email or follow the link below:
http://fundsindia.zendesk.com/requests/140645
Now get 6% extra Gold. Buy Now.
http://products.fundsindia.com/rmgp-logout/

Triveni, Sep 7, 1:49 PM:
Hello,
Thank you for your email.
As discussed, we shall stop the SIP after the transaction is completed in Axis LT Equity Fund(G).
Thanks & Regards,
Triveni
SIP Support Team - FundsIndia
Wealth India Financial Services Pvt. Ltd.
Address: Uttam Building, No: 38 & 39, 3rd Floor, Whites Road,
Royapettah, Chennai – 600014.
Ph: 044-43443160

=========================== Another email to Fundsindia (7th September 2015 14:24) =============================

Hello Triveni,

Thanks for information,

I've also done 2 transaction (by system error 2 transaction got created) for Scheme - "Franklin India high Growth".

Request you to cancel the same as well and confirm.


Thanks,
Sameer


=========================== Done Follow-up with Fundsindia (8th September 2015 17:25) ==========================

Hi Team,

Awaiting your response.

Thanks,
Sameer

=========================== Done Follow-up with Fundsindia (10th September 2015 10:35) ==========================

Gentle reminder

Sent from Yahoo Mail for iPhone

=========================== Got Reply from Fundsindia (7th September 2015 13:49) ==========================
Ticket #140645: Cancelation fo transaction
Your request (#140645) has been deemed solved. To reopen, reply to this email or follow the link below:
http://fundsindia.zendesk.com/requests/140645
Now get 6% extra Gold. Buy Now.
http://products.fundsindia.com/rmgp-logout/

Vivek G, Sep 10, 6:32 PM:
Hello Sir,
As per your request we have stopped your SIPs set up in the above mentioned schemes Franklin India high Growth.
Kindly check the same and contact us for further assistance.
Thanks & Regards,
Vivek Gangadharan
Senior - Customer Support
Wealth India Financial Services Pvt. Ltd.,
Address: Uttam Building, Third Floor,No. 38 & 39, Whites Road,Royapettah,Chennai –600014
Phone - 044 - 4344 3100
Website: https://www.fundsindia.com
Email : [email protected]

=========================================== End of Communication ====================================
felixbast
 
Sep 14, 2015

Never Ever Invest with FundsIndia

I have been using FundsIndia for last 2 years and this is what I found. Everything works fantastic, investment takes few minutes only and looks so nice as long as you wanted to file redemption of your funds (exit or withdrawal).

I filed redemption of a liquid fund which the FundsIndia promises to complete in one working day. Know what happened? It is now more than 2 months and I still did not get the money! I frequently complained to the [email protected] to which they replied that they have sent the cheque (why should the fund house send cheque if investment was made via online transaction?), and "consignment delivery attempted but no one at home" , another lie as I was pretty much there. FundsIndia did not even provide the courier/speedpost tracking number for me to verify the claim. In summary, it is now more than 2 months and I am still waiting for my liquid fund redemption money. I have filed the case with banking ombudsman as well as Securities and Exchange Board of India and the consumer court at the FundsIndia's jurisdiction, Chennai.

If you ask me a single piece of advice, that would be this: NEVER EVER INVEST WITH FUNDS INDIA, THEY ARE FRAUDULENT.

Dr. Felix Bast
https://sites.google.com/site/felixbast/

Keywords: FundsIndia, Invest, Review, Advice
felixbast
 
Sep 13, 2015

Redemption Financial Fraud

Hi,

I have been using FundsIndia for last 2 years and this is what I found. Everything works fantastic, investment takes few minutes only and looks so nice as long as you wanted to file redemption of your funds (exit or withdrawal).

I filed redemption of a liquid fund which the FundsIndia promises to complete in one working day. Know what happened? It is now more than 2 months and I still did not get the money! I frequently complained to the [email protected] to which they said they have sent the cheque (which is a lie, redemption should be done via online), and" consignment delivery attempted but no one at home" , another lie as I was pretty much there. In summary, it is now more than 2 months and I am still waiting for my liquid fund redemption money. I have fined the case with banking ombudsman as well as CRISIL and consumer court.

If you ask me a single piece of advice, that would be this: NEVER EVER INVEST WITH FUNDS INDIA, THEY ARE FRAUDULENT.

Dr. Felix Bast
https://sites.google.com/site/felixbast/
peeush3384
 
Mar 6, 2015

chane of bank A/C

I sent u an application of change of bank a/c on 14 feb. I got conformation on email on 16 feb but till date no change. My sip date is 3,5 th of the month its also not continued by dis reason .i got some call also ur side but till date same.its very bad service..can u help me ???
peeush3384
 
Mar 6, 2015

change of bank A/C

I sent u an application of change of bank a/c on 14 feb,i got confirmation on mail on16 feb. and some call also about ur side regarding dis subject but tilldate no change.My sip date is 3,5th of month ,its also fail by dis reason can u help me??? How many days u take to change..its very bad service..2-3 times i call dem but till date no response....
arvindsingh15
 
Sep 30, 2014

Sell trades Turned into Buy trades due to tech error

I'm a findsindia customer for many years maybe 4 yrs and loved the convenience and support until this happened.

The subject says it all. In short , I had invested in a few stocks and had been patiently waiting for them to hit target price. On the day they did, I "sold" them by following the usual procedure. But due to simple system issue those trades went in as Buy trades. note prior to this I've sold thousands of shares using this platform and this had never happened.

Result - I now have double positions in those stocks and half of those are picked up at a pricing at which I wanted to sell. I'm not sure how long it will take for me to profit from those stocks. At the moment all those counters have fallen.

Response from Fundsindia - We are sorry. The issue has been fixed.

While Im Happy to hear that the issue has been resolved but what about my loss? If you are a professional setup then you better take responsibility.

At the moment I am looking for alternate trading platforms to move my investments.
anithaajith
 
Mar 19, 2014

Irresponsible service and pathetic service

I am using funds india services since last few months and I am not happy with the services.
I wanted to talk to Mr.Ramakrishnan regarding few transactions and had called him few days back. He neither picked up the phone nor called back to enquire.
I tried reaching him again after 2 days, couldn't reach him, so dropped in a message.

There is no response till date. As a client I expect atleast some response. I can understand one can be busy, but still I expect a message / a phone. This is not professional. This is not the first time. I had to keep calling him many times, drop in a message to finally receive a call back even in the past.

He had given me suggestions regarding the investment and till date has not enquired if the investment was done. I tried doing the transactions and it failed twice, though the amount was debited. I wanted to know the status of the money debited. Such transactions involving money, as a client I would expect an appropriate response, if not immediate.

I am very disappointed with the services provided and I would like to exit from the same. Kindly let me know the procedure.

Regards
User835139
 
Oct 1, 2012

Negligence in filling the forms

I am using fundsindia, till now i havent faced any problems with them. I am using mutual as well equities in fundsindia.

I am wondering what is the need for submitting the forms for IDFC infra bonds??

Everything available in online.

As he said initial account opening may take some time due to lack of competitent guys doing forms processing. But overall perfoemnace is too good.

Especiall online services is good to go with them.
User824094
 
Sep 13, 2012

Negligence in filling the forms

I had a similar experience with ICICI Bank, ITPL Branch, Bangalore.

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