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Kotak Money Transfer

Kotak transfer money service is available to all customers who have an account with the bank. Using this facility customers of Kotak can instantly transfer money to anyone in India. Fund transfer can be directly initiated on mobile phone and money will be deposited in beneficiary’s account in real-time.

With the help of online Kotak fund transfer service you can send money to anyone without writing a cheque. Just by downloading our mobile app, you can add your Kotak account and generate a secure mobile banking PIN. Using this PIN you can transfer funds to anyone in India from your Kotak account.

Fund transfer can be initiated without adding beneficiary in your Kotak account. All transactions are 100% safe and secure and you will instantly get SMS from Kotak Mahindra Bank about the transaction. Recipients will also receive SMS from their bank after money is credited in their bank account.

Following are the features of online Kotak transfer money service:
  1. Real-time money transfer from bank account
  2. Transfer money without adding beneficiary
  3. Transfer money between your own Kotak accounts - from one account to another account
  4. Transfer money between your own accounts in other banks - from Kotak account to other bank account
  5. Online Kotak money transfer can be done 24x7, 365 days a year
  6. Funds can be transferred on all Saturdays, Sundays and even bank & public holidays
  7. Money transfer from Kotak Mahindra Bank to all banks in India supported
  8. Transfer upto Rs. 1,00,000 per day from your Kotak account. This is the maximum limit as set by Kotak Mahindra Bank
  9. Upto 10 transfers per day allowed from your account. This is the maximum limit as set by your bank
  10. No charges for online Kotak money transfer service
  11. Instantly receive SMS from Kotak once transfer is initiated
  12. Recipient receives SMS from their bank once funds are credited in their account
  13. Funds are transferred in real-time from your Kotak Mahindra Bank account to recipient’s account via BHIM UPI

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How to transfer money from Kotak account online:

  1. Download Cointab app for Android or iPhone
  2. Install app using mobile number which is registered in your Kotak account
  3. Please choose Kotak for bank account registration
  4. All your Kotak accounts will be registered and activated for mobile banking
  5. Generate Kotak Mahindra Bank banking PIN
  6. Select Transfer Money
  7. Enter beneficiary’s name
  8. Enter beneficiary’s bank account number & IFSC code
  9. Enter amount
  10. Enter your banking PIN (which you generated in the previous step)
  11. Money will be transferred from your Kotak account and credited in recipient’s bank account in real-time
  12. You’ll get an SMS from Kotak Mahindra Bank about the transaction. Recipient will also receive an SMS from their bank

From your Kotak account, transferring money online to anyone’s account in India is a very simple and quick process and you can use the fund transfer service whenever required. Please keep in mind that the maximum transfer limit is Rs. 1,00,000 per day and 10 transactions per day.

Features of Online Money Transfer Service

Real-time fund transfer from bank account to anyone in India

Kotak offers an online money transfer facility using which you can transfer money to anyone in India. Using Kotak fund transfer service you can transfer money even if the beneficiary doesn’t have an account with your bank. On a real-time basis, money gets credited in beneficiary’s bank account.

Transfer funds without adding beneficiary

Online fund transfers typically require you to add and activate beneficiary and you can do money transfers only after that. But using our app you can transfer money without adding beneficiaries. You just have to specify the beneficiary’s account number and IFSC code and money will be credited in their bank account in real-time, directly from your Kotak account.

Self account money transfer

Using Kotak online money transfer service you can transfer money between your own accounts as well. This is a very useful service if you hold multiple accounts with the bank as at a click of a button you can do fund transfer between your own accounts. This service also works if you hold accounts with other banks - you can debit money from your Kotak Mahindra Bank account and credit money into any of your account with other banks.

BHIM UPI ID transfer money

Online Kotak fund transfer service also allows you to transfer money to a BHIM UPI ID. This is particularly useful if the beneficiary also uses a BHIM UPI app wherein without requesting for beneficiary’s account details you can directly transfer money to their BHIM UPI ID. In such cases, money gets credited in the account which is linked with their BHIM UPI ID.

Transfer money to mobile number

Another way to transfer money is via mobile number. With the help of our app you can easily transfer money to your friends and family without requesting for their account number + IFSC code or BHIM UPI ID. When you transfer money to a mobile number, money gets credited in beneficiary’s bank account which is linked to their mobile number in our app.

Transaction limit

Online money transfer service is being offered by Kotak to all its customers free of cost. You don’t have to pay any charges for using the online money transfer service and can transfer money from your bank account as and when required.

No charges for using online money transfer service

Due to some reason if you want to change your Kotak BHIM PIN then you can use our mobile app for instantly changing your Kotak Mahindra Bank UPI PIN. Your new PIN will be immediately registered in your Kotak account and you can use it for performing financial transactions.

24x7 service

Online money transfer service works 24x7 and enables you to transfer money whenever required so that you don’t have to visit the branch or ATM and can initiate fund transfer directly from your mobile. You can even do fund transfer on weekends, bank holidays and public holidays.

Online Transfer Money service benefits

Time saving: Using online Kotak transfer money service you can immediately transfer funds to beneficiary, without writing a cheque or withdrawing cash from the branch or ATM. This helps you save a lot of time.

Easy access: Fund transfer service is completely online and can be used 24x7, throughout the year.

Cost saving: There are no fees for using Kotak Mahindra Bank money transfer facility and you can transfer money to beneficiaries as and when required without worrying about transaction charges.

Security: All Kotak mobile banking transactions are 100% secure due to linking of your account on your mobile number and your banking PIN

Multi Purpose: In addition to transferring money to beneficiary, you can also use Kotak money transfer service to recharge your mobile / DTH, pay electricity / gas / credit card bill, buy insurance, book fixed deposit, buy mutual fund, etc.

Kotak Online Money Transfer security

Kotak Online Money Transfer is fully secured in the following ways:

  1. Kotak UPI registration for your bank accounts can only be done on your mobile due to linking of your mobile number with your bank account
  2. For using BHIM services, you have to create a new UPI PIN using your debit card
  3. For performing any type of transaction you have to then use Kotak Mahindra Bank UPI PIN. No transaction will go through without this secure UPI PIN
  4. For additional security, you can also set up app password so that no one can even open the app without knowing your app password
  5. For enhanced safety, you can also create a PIN or pattern lock for your phone so that no one can open your mobile

Timing of Kotak Online Transfer Money

  • UPI services are available on all days, including Saturday and Sunday
  • Advantage of Kotak BHIM is that it can be used at night as well
  • As banking is extremely important in day to day life, you can use UPI facility even on bank holidays and public holidays
  • BHIM services can be availed throughout the year

Eligibility conditions for using Online Money Transfer Service

In order to use Kotak Online Money Transfer service you must meet the following requirements:

  • A savings or current account with Kotak
  • Mobile number should be registered with your bank
  • Android or iPhone mobile phone
  • Internet connection either via SIM card or WiFi

Limitations of Online Transfer Money Service

Following are the restrictions in Kotak online transfer money service:

  • Your mobile number must be registered in Kotak
  • It requires Android or iPhone mobile phone
  • It will not work without internet connection
  • Transfer upto Rs. 1,00,000 per day per bank account
  • Transfer upto 10 time per day per bank account

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