Kokak Securities
Unwanted charges on SMS

Dear Sir,

I received an email from Kotak Securities a few days back saying that there is an outstanding balance of Rs. 10084.8 in my trading account (R3T37) which I must clear. I followed up the mail and was shocked to hear that I have been charged Rs.100 per month for sending me SMS on trading information. First of all, I failed to understand the reasons for an outstanding balance of Rs. 1004.8 in my trading account. I therefore called the customer service and was told that this has occurred due to SMS charges. I would like to mention that I never subscribed to any such service and was never told about such charges by the agent who opened the account for me.

It is also interesting to note that I also never received any statement about this charge – all my statements have been showing is Rs. 30 per month as monthly maintenance charges. I have now also checked my detailed statements online and I discover that there was no such charges until February mentioned in my statement. All it says is ‘DP charges’ until this time. Suddenly, from March onwards, a monthly charge of Rs. 100 appears as BG SMS charges which I never subscribed to.

I consider that this is completely unethical and would like to lodge a formal complaint about this. I would like to know who authorized these charges and if there was a change in your policy why wasn’t I informed. I request that all these charges are reversed immediately. I am also considering closing the trading account with them.

I would request an immediate follow-up on this matter.

Thank you,

Rajiv Sinha

Company: Kokak Securities
Country: India
State: Uttar Pradesh
City: Kanpur Nagar

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