I registered for ecs in my SIP investment for a mutual fund. I think that was the biggest mistake of my life. Every month Birla sun life sends a ecs request but they dont send the ecs mandate form that i gave them. So bank rejects the transfer and charges me 220 for that. Now i cant cancel the ecs as the bank has not recieved the mandate yet and Birla sun life keeps on sending the request. I called them many time and sent them the statement. However they keep on asking me to send them statement again and again. I sent them in docx (ms office 2007) format. And so they mailed back asking me to send again, I mean how difficult it is to open the file in MS office 2003 with the update. Till now i have been charged 1000 Rs with no investment in SIP. And when i ask them to cancel the SIP, they say it will take 30 days, so i need to face more ecs mandate not recieved charges. So much for extra convenience.
This was my last investment with any birla company. This was the last time i gave power to any financial firm with ECS.
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