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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
  • Note: Merchants will need to manually close the batches on the terminal before the cut-off time to ensure the settlement happens the same day. In case you fail to do the same, settlement will happen on the next day.

Have an existing Current Account?

Don’t have a Current Account?

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Frequently Asked Questions

What is Same Day Settlement?

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. 

 

However, if opted for the Kotak  Same Day Settlement Service, merchants can receive funds on the same day, within a few hours for transactions done that day.

How can the Same Day Settlement help a merchant’s business?

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. 

Are there any limits to Same Day Settlements?

No, the merchants can settle unlimited amounts through Same Day Settlements.

If I opt for Same Day Settlement, will I get a settlement on all days including public holidays?

Yes, Same Day Settlement is available on all days, except Sundays.