With the new ‘Payment/Transfer’ section in Net Banking and the updated ‘Payments’ section in Mobile Banking, we have enhanced the Fund Transfer experience for our custome₹The key highlights of this enhancement include:

• One Time Fund Transfer: You can now complete a One Time Fund Transfer without adding a beneficiary. To complete the transaction through Net Banking, you will be required to enter a One Time Password (OTP) which will be sent to your registered mobile number. On the Kotak Bank App, you will need to validate every transfer with your MPIN. The One‑Time Fund Transfer per day limit without adding a beneficiary is ₹1,00,000 on Mobile Banking and ₹50,000 on Net Banking

  • If you activate the Kotak Bank App on a new device or re-install it on the existing device, or if a secondary CRN has been added in your existing App, the 'One Time Transfer' limit will be reduced to ₹5,000 per day for the next 7 days on the newly registered device.

  • ‘Favourites’ feature: You now have the option to set a beneficiary as “favourite,” making it easier for future transactions.

  • Tag a Beneficiary as 'My Account': Now you can tag a Beneficiary as “My Account”. If a Beneficiary is tagged as ‘My Account’, it will appear on top of the beneficiary list, making it easier to select and transfer funds.

  • 'Repeat' Transaction feature: You can use the “Repeat transaction” feature for recurring fund transfers to the same Beneficiary. This feature will redirect to the fund transfer page with all the details pre-populated. This feature can be used for all types of transfer viz. Own Account funds transfer, Transfer to existing beneficiary or One-Time transfer. Repeat link is available in “Recent Transfers” section on the home page.

  • 'Pay' feature: If someone has sent money to you, you can easily send the money back using the “Pay” functionality – The “Pay” feature will redirect to the One-Time Fund Transfer page with key Beneficiary data (like IFSC and account number) pre-populated. You only need to enter amount and few more details to complete the fund transfer.

  • ‘Send Receipt ‘feature: Kotak Bank will send an SMS/email to the Beneficiary with the transaction details on successful completion of a fund transfer, provided you enter the mobile number and/or email ID of the Beneficiary.

  • “Share” functionality: On successful completion of a fund transfer, you can choose to share the transfer receipt using email. You can also download the receipt and take a print-out.
     

  Click here to go to the Payment section.

  Note:

  • The new feature will be available only to Retail Individual customers with Transaction Rights

  • All Non-Individual customers (and Individual Customers with maker/checker functionality) can continue to use the 'Transfers & Payments' section under 'Banking' in Net Banking & under 'Payments' section on the Kotak Bank App.

Fund Transfer limits:

Default limits are applicable to payment methods like NEFT, RTGS, IMPS & Kotak to Kotak.

Fund transfer limits & Timings for NEFT transactions:

• 12:31 AM to 09:30 PM – You can continue to enjoy your existing limits

• 09:30 PM to 11:30 PM - You can transfer up to ₹10,00,000

• 11:31 PM to 12:30 AM - No transactions can be initiated

Note:

• If you have increased the daily fund transfer limit for Kotak Net Banking, the increased limit will also include the daily fund transfer limit of ₹11,00,000 through Kotak Mobile Banking.
  Example: If your daily limit for fund transfer using Net Banking after the increase is ₹25,00,000 and you carry out a transaction of ₹7,00,000 using Mobile Banking, you can transfer the remaining ₹18,00,000 using Net Banking.

• If you have reduced the daily fund transfer limit for Kotak Net Banking, the reduced limit will also include the daily fund transfer limit of ₹11,00,000 through Kotak Mobile Banking.
  Example: If your daily limit for fund transfer using Net Banking after the reduction is ₹5,00,000 and you carry out a transaction of ₹5,00,000 using Net Banking, then you can transfer the remaining amount of ₹6,00,000 through Mobile Banking.

• One-Time fund transfer will have a combined limit of ₹1,00,000 across Net Banking & Mobile Banking. Example: If you carry out a One-Time transfer on Net Banking for ₹50,000 the remaining limit on Mobile Banking for One-Time transfer will be ₹50,000.