Point of Sale (POS) machine
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Benefits of Same Day Settlement
Managing stock inventory
Vendor payments
Advance salaries
Unforeseen expenses
Same Day Settlement features
Available in two cycles with a cut-off time of 2 PM and 5 PM, respectively
Opt for either one or both cycles and receive the funds in just a few hours on the same day
For all the transactions recorded in these cycles, the funds will be credited to your Current Account on the same day
Simple pricing with no hidden charges: A nominal fee of 0.20% + GST will be applicable to the settlement value for each Same Day Settlement cycle
No charges on UPI and RuPay Debit Card transactions
Available for merchants who hold a Kotak Current Account
Same Day Settlement is available on all days except Sundays
For any transactions done on POS terminals or QR, the settlement usually happens on T+1 day (i.e. the next day after the transaction is done) in the registered Current Account of the merchants.
Kotak Bank’s Same Day Settlement can help merchants in more ways than one. With this, merchants can get access to their funds on the day of the transaction. This enables them with cash flow to manage stock & inventory, provide advance salaries, and pay vendors on time. It ensures monetary liquidity even on holidays.
No, the merchants can settle unlimited amounts through Same Day Settlements.
