Cheaters - Be aware before enrolling. Review on 5paisa

Very bad experience - I wanted to open an account with 5paisa but after submitting all documents and DOING PAYMENT, they started causing issues saying that PAN Card is not readable. I am using the same scanned copy which was accepted by many institutes but 5paisa continued to refuse. Then, I tried it for 4-5 days sending so many different copies - all are perfectly clean and visible but they continue to say the same thing. Then, I realized that these cheaters are only trying to make money by taking payment first and then, refusing documents.

Now, from last one week, I am struggling everyday to ask for refund and there too - they are asking for transaction proof! They have never sent any transaction reference number but they need it as proof?! Credit card statement - its again "Not readable" as PAN Card?! If I send an online statement, it doesn't show credit card number(NO BANK's website will show due to data privacy!). Also, if I give them credit card number, they need PROOF that it is MY CARD?! Have you heard Amazon, Netmeds or Flipkart asking details of your credit card number for a refund? They will process refund on the same channel from where you have done payment - but 5Paisa can not find transaction details from their database - they need customer to prove that.

Overall, I struggled for 5 days to open an account and now, one week for a refund - no results at all. This proves that they just want money while opening an account and want to enjoy it - no business or service.

Also, their customer service rep with whom I was working - he identified himself as Rahul on one day, then Kalpesh on next day(when I asked where is Rahul - he said: Oh, I am Rahul!) - and then in documents, it is third person's name. They are hiding their actual identities too - so how can we trust them at all.

Be aware of such cheaters - don't fall in their trap. I am happy that I didn't transfer my Mutual Funds to their demat account.