Now you can transfer money to anyone through just an email via Kotak Net Banking
With the Mail Money service, you can send money to a beneficiary by just knowing his/her email ID and mobile number. You don't have to register beneficiaries. You don't need to know beneficiary's bank, account number, IFSC etc.
Currently, this service is available on Kotak Net Banking.
Existing charges if applicable for NEFT/ IMPS will be levied as per General Schedule of Features and Charges (GSFC).
You need to be registered for Net Banking with unconditional transaction rights. Service is available for individual customers only.
Log in to Net Banking --> Banking --> Transfers and Payments -->Mail Money. See below for further details:
Enter the beneficiary details like name, email ID, mobile number and payment amount. 2 OTPs will be generated and shared through SMS - one will be sent to you and the other to the beneficiary. The beneficiary will receive a mail from Kotak Mahindra Bank with the redemption link. Beneficiary needs to enter both the OTPs and then enter his/her account details to receive the amount.