HDFC Securities
Taking customer for a ride

I have my individual 3-in one account (5 years old) and a current account. Recently I had opened a 3-1 account with both my parents and mine.

I have stocks purchased in my individual account and was waiting for March month to dispose few to take care of investment on saving instruments for tax purpose.

The client ID's are different, accounts are different.

Today when I tried to operate the demat account I found that account is freezed. On inquiry I found that as my name appears in both account one was freezed and they freezed my individual account " as per SEBI Guidelines".

As a customer should I expect the HDFC bank to tell me while opening account on this difficulty in servicing two trading accounts or is the previlage of HDFC bank that it can open with all the hefty charges and then decide themselves on which to close and which one they should keep open.

Is it my fate to know about freezing only when I log on.

M.R. Pai.

Company: HDFC Securities
Country: India

  <     >