SBICAPSEC is a Shit for Online Trading

Aug 6, 2009

Few months back, I have taken demat and trading account from SBI, India's number one Bank for banking. Its trading account software has given a very bad experience to me. I have taken online trading account so that I can make some money from the opportunity. India started coming out of recession. And I was sure of making some money easily by investing in any good company.

First, SBI has not enabled my banking account for online transaction. I say, when I have taken online Trading account and I already have banking account with SBI, then why they have not enabled online transaction from my banking account. Even they have not provided me any option to use on form, as far as I remember. Is it not ridiculous?

Second, I have enabled online transaction facility on my banking account after coming to know that I need do it separately. After that I come to know that I cannot transfer any amount from my online banking account to other account. They have just enable it to transfer from other account to my SBI banking account. This is another bad surprise. Whats a joke! I have Demat account with the bank and I have requested to allow me do online banking then also I can transfer one way - only from other account to my banking account.

After that, I saw an option for enabling online transaction both ways (not sure) or how to proceed with it. SBI online banking has two passwords system on their online banking. Now, I have visited that site (onlineSBI) to check inside it. I already put password when I have visited there for first time. It was a must to do. Now I forgot that password. For resetting the profile password, I provided the details but they are not accepting the new password. Whatever I am giving, it is telling that it is not in the right format and giving error that password must be minimum 8 chars etc. I have given various combination but no one worked.

I should have thought that for customer care SBI is a shit. I have taken Online Trading facility with SBI thinking it is our national bank. This kind of service create requirements for Private entity sans their pesky marketing calls.

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  7. Dear it is nice to share good bad experiance. Let me add some of mine experiance with this Shit SBICAPSEC.
    Its about a little future story. I am using net banking sbi for many years so i didnt get initial problems and few months before i happily started my DMAT definitely with positive hope. I knew that its somehow expensive than others but the Big Name SBI infulansed me.
    Now i leaned some ammount in different span and started trading and understanding the laser etc.
    parallelly I was also maintiang my portfolio on my selfmade excel sheets.
    I found they are charging more than what they say. anyhow i convinced my self that these are some other charges in the form of taxes they should not disclose at initial stage. Its u can say hidden charges everywhere.
    Then i wish to check the obvious query.
    How much i inveted and what is the exact situation is.
    It should be the net mark lien+ the cost of available shares.
    Now I can not find it on SBICAPSEC .
    there was just laser giving info which i have to calculate manually.
    On the other hand when i use my internet banking site where i have have DMAT button to check details, there is some massage coming that "Your user id is not mapped consult your brance"
    actually both brances was different
    1. My saving ac brance
    2. DMAT open at diff branch
    So both said it will done by other one. No body was giving solution and time was moving
    I can calculate with my excel or DMAT laser but i was thinking it should be somewhere stored.
    Is it not stupid to cal manually.
    After all its not a small game. Moreover when i mark some ammount it shows five history details.
    Then i explore more about this problem then i found the funniest answer that conclude that "SBICAPSEC is a Shit for Online Trading"
    the ans was I am having dmat account starting with 120 not with 130.
    There are two type of SBICAPSEC account one 130 which was colobrativly opened by SBI and SBICAPSEC and others are 120 type these days exclusively SBICAPSEC opening these account.
    So if u are 120 type u are not facilitate whith the SBI services like how much u marked etc under SBI internet service DMAT section.
    So I asked ok! what should be dome by those who did this 120 mistake!!
    they answer you have to do manually.
    check how much credit and how much u debit through SBI.
    Means u check ur SBI Statments or check laser of SBICAPSEC which i was doing througout. without any mistake.
    Still I feel that it cant be like that. But i have no other opetion.
    So better is before start SBICAPSEC u just learn some MS Excel and manange your portfolio regularly.
    -Kumar
    nstatistics@gmail.com

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