INDmoney is turning into a complete shit show! Their product managers don't use their own product, they are sleeping. This is absolutely unacceptable! The portfolio value cannot jump 2% every time I refresh. Will move my portfolio to Interactive Brokers.
Edit: typo
Even if I presumed the exchange happened on 12th May, where the dollar rate was 95.64, I should still see 95,354 INR as the amount. Instead i received 94,565.94. so where did the remaining amount go?
When I tried adding money, it automatically tried creating multiple UPI accounts from both my linked bank accounts and I had to manually deregister from upi in the app. I don't want UPI on my account, and it's my choice, why are u forcing me to make an UPI account for an US stock account. Attaching images of the same. I will move out from Indmoney if it's not possible to add money to US stock without creating INDPay, it feels like a scam, I would have never even created an account if this was the case. Created an UPI ID even for my other non HDFC account without any permission from my side.
I haven't received dividend in my account regarding which I raised a ticket and their dumbass customer service closed the ticket without even reading the issue. I'm going to transfer my stocks to different application
To make stuff look pretty, important functions are gone like US premarket numbers.
Shit upgrade
First I thought of opening Fed bank Yuvamithra Account, but saw that there was no fed bank option in US stocks page to select, I asked customer support and they said that students, unemployed individuals, retired persons, and homemakers are not eligible for Federal Bank verification as per the bank’s compliance guidelines. And that this decision is solely at the discretion of Federal Bank. But they also told me that if I had existing savings account with HDFC, ICICI, Axis banks, I can open the account.
My doubt: I am yet to open a bank account for this, so are Fed bank Yuvamithra, ICICI student account supported?
If no, then which savings account are supported?
I raised a complaint through the app and also emailed regarding the issue. The app says the team will contact within 15 minutes, but apparently their 15 minutes haven’t ended since May 3rd.
The query was regarding the $5 reward I received for a credit card bill payment. Even after multiple follow-ups, all I get is “the issue has been escalated,” but it has already been over a week after escalation with no actual resolution.
INDMONEY - can u resolve this at the earliest Ticket ID 3242365
I am not able to add any money on drivewealth US stock account through icici. It seems I need to visit local branch since drivewealth is not a publicly listed company. Has anyone faced this issue on icici.
Has anyone tried transferring your ESPPs or RSU to INDMoney? How's your experience?
From my wallet Balance I can see more than 1800 USD missing . I raised the ticket with ticket id #3268347. But still no response from the team.
IND money if its a new bug from recent changes - pls clarify - you should inform the users in such cases. but no response !!
THIS IS VERY BAD.
Update 1 : IND Money reached out mentioning some "account upgradation" is happening.will have to wait 24-48 hours for reflection of correct funds.
I recently started paying my CC bills via INDmoney (earlier used to pay through Cred/CheQ), and I am pleasantly surprised by the generous amounts of cashback being offered by the app. So far I have made only two CC bill payments, and I have already earned Rs 161 in cashback and $1 worth of stock. Thus, a total return of around Rs 250 against total payments of less than Rs 2L. This is great! I had been previously just using this app for my US ETFs, but now I am planning to shift my Indian MFs here as well!
If we change the IndMoney linked bank accounts to NRO, would we still be able to sell existing US stocks and withdraw money to NRO? Or do we have to sell all US stock holdings, withdraw money and then change the status to NRO?
This was my first sell of a US stock and it refuses to credit the wallet balance from proceedings after escalating multiple times. They make absurd claims like i bought shares from it while those shares were already bought wayy before with my money which is reflected in the timelines of the app. Im very disappointed. Where can I raise this issue? This is FRAUD!!!!
Ticket lD - 3260835
Edit: added the updates in comments. What do I do guys?
People have been asking for details but there’s no help. And no comments from the INDmoney. I have created this thread for help, not for publicity!!!
@INDmoneyApp have the balls to reply here! I will take you to court!
Edit 2: The @INDMoneyApp team has been unresponsive today! I REACHED OUT VIA MULTIPLE CHANNELS AND THEY ARE NOT RESPONDING. Not a single response! My wallet is still empty! (Date: 14 May, Time: 3.27 PM)
It’s been 7 days and my money hasn’t been credited to my Indmoney US wallet. Money was deducted from the bank account so can’t cancel it either. I have raised multiple tickets but there has been no update on it.
Initially it was showing by Tuesday but then it keeps delaying the date.
Totally missing the opportunity in the market.
Please be cautious in investing with Indmoney.
First time I started to use INDMoney to start investing in US markets, but had very bad experience both app and support team. Created Federal account, tried to put some money to start investing. Here you go Money deducted from my account and suddenly failed without any valid reason.
Now I’m stuck without money in Bank account and not investment, looks like it is sitting in some invisible location!
They’re saying it takes 5-10 days for reversal, but I don’t understand why it should take so much of time? Within these days, currency fallen, US markets gained. I miss all those, I have to suffer loss for no reason of mine!
Unfortunately India doesn’t have strict consumer laws to protect us from these type of irresponsibility.
I came to this app hoping for Good, but you guys frustrated me to hell. Give my money back, I will get out of your app !
Why biggest PSU, SBI bank not allowed for US stocks. It has the best remittance rates. While Indmoney doesn't benefit from remittance margin, it must allow its customers to add SBI and IOB bank.
Offlately I have been seeing posts everyday about money not getting credited in demat of INDMoney for US stocks.
Are you facing the similar issue ? Are there any other trusted broker ?
I’ve been investing in US ETFs via INDmoney (Alpaca backend) and started digging into what happens in a worst case scenario. A few things are making me uncomfortable:
1. You cannot log into Alpaca directly and partner accounts are locked to the INDmoney app only, confirmed by Alpaca’s own forum
2. It’s unclear whether holdings are in our individual names or in a pooled/omnibus account under INDmoney
3. When I emailed Alpaca support directly, they just forwarded my query to INDmoney, the exact party I was asking about
The Fi Money shutdown is a good precedent that went smoothly. But Fi gave users advance notice and time. An abrupt shutdown would be a different story.
Tagging IndMoney - can you officially clarify:
• Are our US holdings held in individual names at Alpaca or pooled?
• What is the contingency process if INDmoney becomes unavailable?
• Can customers initiate an ACATS transfer out to another broker directly?
Would love to hear if others have got clarity on this.
Was using the INDmoney app and suddenly got a popup asking about transferring my NPS POP to INDmoney. I accidentally clicked on it, and before I could properly understand what was happening, the OTP got auto-submitted as well.
The transfer request got processed and now my POP has shifted from eNPS to INDmoney.
A few questions for people here:
Honestly felt the popup flow was a bit too easy to trigger accidentally for something related to retirement accounts.
Would appreciate any guidance/suggestions from others who’ve dealt with this.
One important thing I discovered afterwards: once you move away from eNPS, there doesn’t seem to be a provision to move back to eNPS again. That was honestly surprising and frustrating to learn later.
Just sharing this as a caution for others. Please be careful while interacting with these POP transfer prompts/popups in the app.
Tried creating an account in ind money for us stocks. I am already a investor in the indian market and use groww.
Despite my repeated requests, I haven’t received any clarification as to why this happened. Anyone here can guide me about this?