Benefits of Kotak Mahindra Mobile Banking
Mentioned below are some of the benefits of Kotak Mahindra mobile banking:
- Mobile banking offered by Kotak Mahindra Bank is convenient and saves time.
- Mobile banking keeps the customers updated about their account all the time which avoids fraud.
- Kotak Mahindra mobile banking facility is free of cost.
- Mobile banking alerts the customers of any bills that needs to be paid and thus ensures that they pay all their bills promptly.
- Kotak Mahindra mobile banking app allows the customer to transfer funds instantly.
- Mobile banking is secure as it uses encrypted technology to transact.
- Through mobile banking app, Kotak Mahindra alerts their customers about new products and services available.
How to Register for Kotak Mahindra Mobile Banking
To register for Kotak Mahindra’s mobile banking services, it is important to register your mobile number with the bank. Make sure that the number you will use for mobile banking is the same as the one you provided to the bank when creating an account with Kotak Mahindra.
If you have changed your mobile number, you can register the same by visiting the bank or by using their ATM. You can also update or register your number by using Kotak Mahindra’s net banking facility. Once the number is registered, follow these steps to activate the mobile banking services:
- Download Kotak Mahindra’s official mobile banking app fro the app store.
- Launch the app and enter your Customer Relation Number (CRN), you will find this number on your debit or credit card.
- After entering the CRN, you can either use your debit/credit card numbers or your net banking credentials to authenticate the account.
- Next, you will be required to set a 6-digit MPIN
- After setting the MPIN, a verification code will be sent to your registered mobile number.
- Enter the code to activate the mobile banking services.
How to Login to Kotak Mahindra Mobile Banking App
Customers can log in to Kotak Mahindra’s mobile banking app by following these few simple steps:
- Download the mobile banking app from the app store.
- Launch the app and click on ‘Login’
- You will be directed to a new screen where you will be asked to enter the CRN.
- You skip the login process by tapping on ‘Skip Login’ to view the services provided by the bank.
- Alternatively, you can enter your CRN.
- If you are a first-time user, you will have to go through the authentication process by enterring your debit/credit card details or net banking credentials.
- If are already registered with the mobile banking services, you can login using your user ID and MPIN.
How to Change your Kotak Mahindra MPIN
The MPIN is a 6-digit numerical code which is used as your mobile banking password. You can change your MPIN number in any of the following ways:
- SMS: You can easily reset your MPIN by sending SMS ‘MPIN’ (Space) CRN to 9971056767 from your registered phone number.
- Via mobile banking: Launch the Kotak Mahindra mobile banking app and click on the ‘Forgot MPIN’ option. You will have to authenticate your account by providing your debit card details or your net banking credentials. After providing these details, you can set your new MPIN.
List of Kotak Mahindra mobile apps
|Kotak-811 and Mobile Banking||
|Kotak Smart Solutions||
|Kotak Corporate Banking||
Kotak Mahindra Mobile Banking Fund Transfer Options
- NEFT - National Electronic Fund Transfer (NEFT) is a national electronic payment system which allows Kotak Mahindra customers to transfer funds within the bank. To make a NEFT transfer, customers have to download Kotak Mahindra mobile banking app from Playstore on their iPhone or Android phone and register using their net banking login credentials. Customers will then have to add beneficiaries to the account. To add a beneficiary, customers will have to provide the beneficiary’s name, phone number, account number, IFSC code, and bank branch details. Post adding a beneficiary, the bank will take about 30 minutes to approve it. After receiving the approval, customers will be allowed to transfer up to Rs. 10 lakh to any Kotak Mahindra bank account holders.
- Real Time Gross Settlement (RTGS): RTGS is another mode of transferring funds using Kotak Mahindra mobile banking app. The minimum amount that can be transferred using this option is Rs.2 lakh. Customers will have to add beneficiary before transferring the amount and the process to add a beneficiary will remain the same as for NEFT transfer.
- IMPS- Kotak Mahindra Bank is aware that there will be emergency situations where customers will have to transfer funds immediately. That's why they have Immediate Payment Service (IMPS) option. Using the feature, customers can transfer their funds to any beneficiary immediately. The fund will be transferred instantly and the beneficiary will be able to withdraw the transferred amount in few minutes. This option is available 24*7 which makes it convenient.
Kotak Mahindra Mobile Banking Security Measures
- Kotak Mahindra Bank uses sophisticated encryption technology that secures the date transferred using their mobile app.
- Data transferred from the bank’s mobile banking server is not saved on your phone or SIM card for safety purposes.
NEFT, RTGS, and IMPS Timings
|Monday – Saturday||8:00 AM – 4:00 PM (weekdays) 8 AM – 12 PM (Saturdays)||8:00 AM – 6:00 PM (weekdays) 8 AM – 12 PM (Saturdays)||24x7|
NEFT and IMPS Charges
|Up to Rs. 1 lakh||Rs. 5+ Service Tax|
|Above Rs. 1 lakh and below Rs. 2 lakh||Rs. 15 + Service Tax|
|Above Rs. 2 lakh||Rs. 20 + Service Tax|
|Above Rs. 2 lakh||Rs. 25 + Service Tax|
|From Rs. 2 lakh to Rs. 5 lakh||Rs. 25+ Service Tax|
|Above Rs. 5 lakh||Rs. 25 + Service Tax|
Kotak Mahindra Customer Care No.
|Kotak Mahindra Bank Branch||Customer care number|
Salient Features of Kotak Mahindra’s Digital Banking Services
To eliminate the gap that exists between account holders and banks and to stay connected all the time, Kotak Mahindra Bank has introduced mobile banking facility for their customers. Customers with an iPhone or an Android phone can access Kotak Mahindra mobile banking app and can bank on the go. From viewing past transactions and transferring funds to opening a recurring deposit account and paying bills, Kotak Mahindra Bank’s mobile banking app offers it all. Customers can now bank from the luxury of their home instead of waiting for hours in a bank.
m Store: Customers can now book flight tickets using Kotak Mahindra mobile banking facility. Whether you want to book an international flight ticket or make hotel reservations, it is all possible using m store option available on Kotak Mahindra mobile app. Customers can also book bus tickets, buy adventure sports gears, book tours, shop on Flipkart, and subscribe to magazines using m store.
My Kotak: If you are someone who likes to save all important information in one place, you will love Kotak Mahindra mobile banking app. My Kotak feature allows customers to select widgets to personalise their home page with the information they love to see. Customers can also switch off their MPIN and view certain information without logging into the app.
Money Watch: Kotak Money Watch services offered by Kotak Mahindra is an expense management tool that allows the customers to view month on month expenses trends, set budget, view all transactions made, and keep a track of their expenses. This feature also has an option called Personal Finance Manager which allows customers to manage their finances on multiple Kotak or non-Kotak bank accounts.
Hashtag Banking: Customers can check their account balance, transaction history, request a cheque book, or recharge their DTH account using Hashtag Banking. To use this feature, customers have to register to Hashtag Banking, follow Kotak Mahindra Bank on Twitter, and tweet to the bank’s twitter account using a hashtag. After the customer tweets, Kotak Mahindra Bank will send the information instantly to the customer’s personal twitter account.
SMS Banking: For those who do not have a smartphone, Kotak Mahindra offers SMS Banking. Instead of browsing through the bank’s website for information, customers can now send a message to get the information they are looking for.
Instant Balance Services: Obtaining information from Kotak Mahindra Bank is just a phone call away. Kotak Mahindra has a 24*7 customer care service offering account related information to customers via phone. Customers can call the bank’s toll-free number at 1800 274 0110 for Instant Balance Services.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.