OpenMoney
  • Personal
  • Business
  • NRI
  • About Us
  • Learn
  • Help
Discover Personal
Discover Business
Discover NRI
>

 

Open is a connected banking platform designed for simplifying business payments and streamline reconciliation for businesses.

Beyond reconciliation, Open offers built-in tools for GST invoicing, collection online payments via payment links, tracking account payables and receivables, along with additional business tools for managing end-to-end payroll, expense management, and GST & tax filing directly from the platform.

Benefits

Reconcile Payments

Auto-reconcile payments with bills and sync seamlessly with your accounting software.

Track Financials in One Place

Monitor all bank balances, payables, and receivables easily on the Open dashboard.

Cashflow Insights

Stay on top of cashflow insights without logging in to multiple portals.

Steps to Connect

  • Log in to your OPEN Money account
  • Head to the Banking tab, and click on Connected Banking under 'Manage Banks'
  • Select Kotak Mahindra Bank and you will be redirected to Kotak’s website to authenticate the integration.
  • Login to Kotak Mahindra Portal
  • Enter the One Time Password (OTP) sent to your registered mobile number and click Verify.
  • Click Accept to provide your consent to link Kotak Mahindra Bank with OPEN Money and to accept the Terms and Conditions for enabling all accounts and services.

Functionalities live for Kotak Current Account

  • View Account Balance
  • View Statement

Ready to take the next step?

Collect payments easily, anytime, anywhere with kotak.biz app

Frequently Asked Questions

What is OpenMoney?

OpenMoney is a digital business banking and financial platform that enables businesses to manage payments, collections, banking, and financial operations through a unified interface.

What are the benefits of Kotak Connected Banking on OpenMoney?

With Kotak Connected Banking on OpenMoney, you can:

  • Streamline reconciliation and accounting.
  • Access bank account balance in real-time.
  • Fetch account statements easily.
  • Manage financial operations seamlessly.

Are there any charges for OpenMoney?

OpenMoney is a subscription-based platform. Charges apply as per OpenMoney’s pricing structure.

Which version of OpenMoney supports Kotak Connected Banking?

Connected Banking is available on OpenMoney as part of its integration capabilities with partner banks.

How do I connect my Kotak Current Account/Overdraft Account on OpenMoney?

To connect your account:

  • Log in to OpenMoney.
  • Select the option to link/add bank account.
  • Choose Kotak Mahindra Bank.
  • Authenticate using Internet Banking credentials and One-time password.

You can also refer the below video for connecting your account on OpenMoney:

https://www.youtube.com/watch?v=0xSdsq3kNkw

What features are available on OpenMoney via Kotak Connected Banking?

Available features include:

  • Enabling reconciliation within the platform.
  • Viewing account balances.
  • Fetching account statements.

Are there any charges for enabling Kotak Connected Banking on OpenMoney?

There are no charges for enabling Connected Banking if you already have an active OpenMoney subscription.

For customers without an active subscription, applicable charges for purchasing or renewing the OpenMoney subscription will apply as per OpenMoney’s pricing. .

 

Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

Page also available in: हिन्दी - Hindi
 

Kotak Mahindra Bank and any of its directors, employees and personnel shall not be liable for any loss, damage of any nature including but not limited to direct, indirect, punitive, special, exemplary, consequential as also any loss of profit in any way arising from the use of the services offered by TallyPrime, Zoho Books, and OpenMoney. The recipient shall be solely and fully responsible/ liable for any consequence arising as a result of availing the services and agrees not to hold the Bank liable for any loss or damage upon utilizing the services of TallyPrime, Zoho Books, and OpenMoney. The Bank shall not be responsible in any way for the advice given by TallyPrime, Zoho Books, and OpenMoney, its employees, representatives, agents and consultants.