FUNDStoHOME - Direct Debit

Key Features

  • Free^ remittances into Kotak Mahindra Bank Account within 5 working days*
  • Demand Drafts will be delivered in 3 working days*
  • Track the status of the remittance

Direct Debit is a unique, paperless, completely online remittance facility. It uses the Automated Clearing House (ACH) platform. It is faster and can be executed with just a few clicks.

Features & Benefits

After activating your account, all you have to do is initiate the remittance and we take care of the rest.

Economical
  • Free^ remittances into Kotak Mahindra Bank Account.
  • A Demand Draft for as little as USD 5
  • Attractive Exchange rates.
Speedy
  • Fast mode of remittance.
  • Get funds in your Kotak Mahindra Bank Account within 5working days*
  • Demand Drafts will be delivered in 3 working days*

*5 working days after instructions have been received by us. Working days- not including Saturdays, Sundays and Public Holidays in both countries.
*3 days after receipt of funds at Kotak Mahindra Bank for Metros and Non-Metros (not including Saturdays, Sundays and Public Holidays).

Secure
  • Complete bank to bank transaction.
  • Track the status of the remittance.
  • The Demand Draft is made payable in 351 locations across India and also to the specific Bank account of the Beneficiary.
How does it work?
^Foreign Currency Conversion Charge which is an explicit charge of Rs.50 for Individuals and Rs.100 for Non Individuals along with a service tax of 12.36 % (as per current prevalent rates) is applicable to all transactions that involve Foreign Currency Conversion. This charge is applicable with retrospective effect from 16th May 2008 as per the CBDT circular in the Finance Act 2008.