As times change, so do the needs of the people. Early man has transacted with the help of the barter system, money lenders and other cumbersome ways of transacting. It was only in the late 1970’s that debit cards have come into existence but ever since, have made the life of the common man simpler to an unimaginable extent. With the convenience and simplicity they offer, debit cards have now become an indispensable part of our life. Offering the same benefits to its customers is Kotak Mahindra, one of the leading financial institutions in India. Among the array of debit cards offered by the bank to suit different financial needs, they also offer the all-round Classic debit card. This unique debit card has been customized to offer the most exclusive advantages, benefits, deals, discounts, offers and more. Keeping your fast paced lifestyle in mind, this card makes it extremely easy and safe to transact. The Kotak Classic is a feature rich debit card which offers a range of benefits for a string of lifestyle verticals like travel, shopping, fuel, wellness, health, dining and much more. Also, you get to enjoy high transaction limits and complimentary insurance cover.
Features & Benefits of Classic Debit Card - Kotak Mahindra
- Chip and Magnetic Stripe Based Card for Greater Security – The Kotak Classic debit card is available not only in a Magnetic Stripe variant but also in a Chip based variant. Both these safety features help facilitate secure transactions and purchases, whether done at ATMs or at POS terminals.
- Timely SMS Alerts – With card misuse related events taking place every now and then, it has become more important than ever to keep track of one’s account related activity. With the Kotak Debit Card, it has now become easy to do so. You will receive timely email and SMS alerts for every transaction that is carried out with your Classic debit card so you can not only keep an eye on your transactions history and related details but also be duly notified in case any fraudulent activity occurs.
- Avail Exciting Offers & Discounts – As a Classic Debit Card holder, you are privy to a world of offers, discounts, deals and much more on a spectrum of categories like dining, apparel, lifestyle, travel, wellness, health, fitness and much more. Avail offers from some of the best selling renowned brands and retailers like Samsung, Urban Ladder, Pepperfry, INOX Cinemas, Freecharge, Cleartrip, ZoomCar, Kenneth Cole, GoIbibo, National Geographic and many more.
- Enhanced Protection With Insurance Covers – As a Classic debit card holder, you are entitled to complimentary insurance covers for enhanced transaction safety. This card comes with Lost Card Liability Cover worth up to Rs 1,50,000 and Purchase Protection Limit worth up to Rs 50,000.
- Widely Accepted – The Kotak Mahindra Classic Debit Card is widely accepted not only at national and international merchant locations for POS transactions but also at ATM worldwide in India and abroad. Carry out transactions with ease wherever you go.
- Global Customer Assistance Service (GCAS) - The Kotak Classic debit card also provides you with exclusive access to avail the services of the 24 hours Visa Global Customer Assistance Service. You may contact the customer assistance service can be contacted any time if you wish to report the loss or theft of your Visa debit card, need an emergency debit card replacement or want to make any other miscellaneous car related queries.
- Daily High Transaction Limits – Enjoy high transactions limits on your Classic debit card like never before. The different variants of the Class Debit Card have varying transaction limits as follows:
|Transaction||Kotak Edge||Kotak Pro||Kotak Ace|
|Purchase Limit||Rs 1,50,000||Rs 1,50,000||Rs 1,50,000|
|ATM Withdrawal||Rs 50,000||Rs 50,000||Rs 75,000|
Eligibility for Kotak Mahindra Classic Debit Card
The Kotak Classic is a unique debit card offering multiple benefits and is offered to select Kotak Mahindra account holders. Currently this card has been made available for residents customers holding Savings Accounts (except customers holding Easy accounts)and non-resident customers holding NRE Savings Accounts with the bank.
Fees & Charges : Kotak Mahindra Classic Debit Card:
|Issuance Charge||Rs 100|
|Annual Charge – Primary Card||Rs 150|
|Annual Charge – Add-on Card||Rs 250|
|Cash withdrawal/Balance Enquiry at own ATM||Free of charge|
|Withdrawal/Balance Enquiry at non-bank ATM||Cash withdrawal – Rs 20; Bal. Enquiry – Rs 8.50|
|Cash Withdrawal – International ATM||Rs 150 / per transaction|
|Bal. Enquiry – International ATM||Rs 25 / per transaction|
|Visa Global Assist Charges||USD 5|
|Visa Global Assist Charges – Lost Card||USD 35|
|Transaction Declined at non-bank ATM – Insufficient Funds||Rs 25 / per transaction|
Classic Debit Card FAQ
- When will the fuel surcharge waiver reflect in my Kotak bank account?
For all debit cards which are eligible to receive a fuel surcharge waiver, the same will be reversed from your bank account by the 12th of the following month.
- Is there any surcharge fee applicable if I purchase fuel or make an IRCTC transaction with my Classic debit card?
Yes, a transaction charge at the rate of Rs 10 or 2.5% will be levied on the purchase of fuel. For IRCTC bookings, a Payment Gateway charge at the rate of 1.8% will be levied.
- Can I change the daily withdrawal and purchase limits on my Classic Debit Card?
Yes, you can easily change or enhance the transactions limits on your debit by simply calling the customer care center at the bank and placing a request for the same.
- Can I use my Classic debit card for making purchases overseas?
Yes, the Kotak Classic is a Chip based debit card and is enabled for international use (ATM transactions and POS transactions) by default.
- What is meant by Lost Card Liability Cover?
Lost Card Liability cover basically protects you in case your card is lost and subsequently misused or used for fraudulent transactions. The insurance cover will protect you from any liability , up to a certain amount, which may arise from the fraudulent use of your card.
- What do I do if I lose my debit card while travelling overseas?
You must immediately report the loss at the toll free number to block your card to prevent any misuse. You may also do so by calling the Visa Global customer Assistance Service for the same.
- Is there any cross-currency mark-up charged on this debit card?
Yes, a cross currency mark-up at the rate of 3.5% is chargeable on all foreign currency transactions carried out on this debit card.