Since Paytm is soon coming up with their own borking services, How many of you intend to move away from Zerodha now?
Reasons for considering moving away from Zerodha :
Unlike most people I came to Zerodha for better tools and technology rather than cheaper services, but I still can’t reliably use zerodha’s technology at times, for most part its good but services going down at random times is still pretty common. I only tried BO order with Zerodha once in my life and it executed orders on wrong side and I never again touched it, even the customer support was pathetic. With Paytm coming up we can hope at least on technology front they will be equally good, customer support might be similar even paytm doesn’t have too great of customer support
Customer Support is absolutely no where close to good, I read one of the interviews from @nithin that they make a large part(60-70%) of their profits by adding new customers specifically first time customers. I raised a few queries on their customer support a couple of times and never got a response until after multiple reminders or until involved @nithin in conversation. In my recent encounter they closed my ticket by just writing an automated sort of response without actually resolving my issue, I then forwarded an email to @nithin after that I got a response on my ticket which still didn’t resolve my issue and I had to do multiple follow ups just to get a answer. I remember having a similar situation couple of years back when I forwarded an issue to @nithin and I heard back from him on email and immediately got a call from staff and got my issue resolved. Clearly a very different customer experience over the years which either shows work load or arrogance Zerodha has developed after becoming No. ! broker in terms of customer count. This is the customer experience for me after having an account worth 6 lakhs with Zerodha.
I am currently debating if I should my Mutual Fund holdings to Zerodha, Having an option to invest in direct mutual funds was a distinct advantage but Paytm is already doing that and other brokers are coming up with that fast.
I moved away from ICICI Direct to Zerodha since ICICI DIrect seems to have no interest in upgrading their technology and Zerodha has far better offerings at that time, also tried HDFC securities on the way but even they didn’t match up, for some time Zeordha had a monopoly sort of since on one was offering better technology at a cheaper(most important factor) price, but if Paytm comes up with better Technology at competitive pricing I don’t see a reason to stick with Zerodha since they won’t be offering anything special and doesn’t appreciate (this is my opinion) their existing customer base.
Its still early since we don’t know Paytm’s offerings yet but whats your opinion, Would you move away from Zerodha if Paytm offers similar or better services, How has been your experience with Zerodha?