Sign mismatch problem while redemption!

Message By venkatesh dharmalingam

Dear Friends,

Most of my clients face a unique and peculiar problem of signature mismatch particularly while giving redemptions

Clients put forth the following points against AMC;

1.Client confirms that his/her sign has not changed, their sign is accepted elsewhere, infact AMC’s never say signature mismatch while accepting additional purchase

2.Client has not changed his/her bank details/address while doing redemption

3.Client gives redemption for emergency expecting money in T+3 days but AMC’s don’t communicate the signature mismatch problem to client immediately

4.Client gives redemption when market is high but looses the opportunity if redemption is failed

5.No proof is given by AMC to client to justify signature mismatch problem

6.AMC’s want bank manger name,employee code,sign & seal to revalidate redemption request but banks refuse to do all these

7.Every client can’t register online transaction with every AMC to avoid signature mismatch problem

8.If the client is a senior citizen or becomes sick or disabled then it is very difficult for those clients to redeem their money 

Because of this problem most of the clients either stop their investment interim in mutual fund or take out their entire money from mutual fund

AMC’s have to come out with acceptable & practical solution for this problem, otherwise existing clients will also go away from mutual fund investment leave alone new clients

I request every one of us to take up this genuine complaint to AMC’s

I also request our friends view on this issue

Thanks & Regards

D.M.Venkateswaran

ARN.46687

Mobile:9841014457