Message Money

1860 266 2666

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Now you can transfer money to your friends even without knowing their account number or adding them as beneficiary. All you require is your friend’s mobile number.

  1. Send money to your friends / contacts by just using his / her mobile number
  2. Account number / IFSC / Bank name of beneficiary is not required
  3. Beneficiaries can choose to deposit the money in the accounts of their choice
  4. Option to cancel the payment till the time the transfer is not done
  5. Regenerate the PINs if sender or beneficiary forgets or misplaces them
  6. View transaction history - includes transaction done through both Mobile and Net Banking
  7. PINs auto expire after 7 days of initiating the transaction by customer
  8. Alerts sent to both sender and beneficiary
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What is "Message Money" service?

With the "Message Money" feature, you can send money to your friend by just entering his mobile number. You don't have to register a beneficiary or know your friend's bank, account number or IFSC.

This feature is available on Kotak Mobile Banking App for Android phone and iPhone.

Are there any charges for this service?

Existing charges if applicable for NEFT / IMPS will be levied as per General Schedule of Features and Charges (GSFC).

How does this service work?

  • Log in to Mobile Banking > Banking > Message Money
  • Enter the Mobile Number of your friend / contact and amount to be transferred. A 7 digit PIN will be sent to the mobile number of your friend / contact provided by you
  • In the next step, you will have to set a 6 digit PIN. You will need to communicate this PIN to your friend / contact.
  • In the final step, a unique URL will be generated for the transaction. You need to share this URL with your friend / contact. Easy sharing options for sharing the URL are provided (You can share this via Whatsapp / Email / SMS or any other messaging App installed on your phone).

What are the fund transfer limits?

A Maximum of Rs 50,000 per day can be transferred with an upper limit of Rs. 10,000 per transaction. There is no minimum limit for the same.

When do the PINs expire?

The PINs will expire after 7 days.

What should I do if I forgot my 6 digit PIN or URL? 

You can reset the PIN or regenerate the URL by visiting the following section.

Log in to Mobile Banking > Banking > Message Money > Re-initiate / Cancel Transaction

What can I do if the beneficiary does not receive the 7 digit PIN?

Beneficiary can regenerate the 7 digit PIN by clicking on the "Forgot PIN" link given on the first page of URL shared by you.

Can I cancel my transfer request?

Yes. You can log in to Mobile Banking App and go to Banking > Message Money > Re-initiate / Cancel Transaction to cancel a transfer request.

Please note that only a request with a "Pending" status can be cancelled.

Once the beneficiary inputs the correct PINs, how does he claim the amount transferred to him?

Beneficiary has to input the details for the Bank account where he wishes to receive the money. The beneficiary account can be with any Bank. Beneficiary will need to enter IFSC, Bank account details and submit the request.

A "Select Bank" option is provided to the beneficiary if he does not remember the IFSC.

The transfer request will be executed via fund transfer modes like NEFT / IMPS.

When will the funds be deposited in the beneficiary's account?

Funds will be debited from the remitters account as soon as beneficiary submits his account details on the URL & completes the transaction. The transfer request will be executed via NEFT / IMPS (Immediate Payment service). If the beneficiary bank participates in IMPS, the transfer will be executed immediately; otherwise it will be processed in the NEFT clearing cycle. The transfer is subject to sufficient balance in the debit account at the time of execution of request.

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