Differences between Merchant One and Merchant One Premium Current Accounts

Get Kotak League Platinum Credit Card & earn 8X reward Points on your every spends of Rs.150 across all categories.
Know More
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
At your request, you are being re-directed to a third party site - https://www.billdesk.com/pgmerc/kotakcard/ wherein you can make your payment from a different bank account. Kotak Cards does not guarantee or warrant the accuracy or completeness of the information, materials, services or the reliability of any service, advice, opinion statement or other information displayed or distributed on the third party site. You shall access this site solely for purposes of payment of your bills and you understand and acknowledge that availing of any services offered on the site or any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk. Kotak Cards and its affiliates, subsidiaries, employees, officers, directors and agents, expressly disclaim any liability for any deficiency in the services offered by BilIDesk whose site you are about to access. Neither Kotak Cards nor any of its affiliates nor their directors, officers and employees will be liable to or have any responsibility of any kind for any loss that you incur in the event of any deficiency in the services of BiIIDesk to whom the site belongs, failure or disruption of the site of BilIDesk, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials.
Note: Available in select banks only. Kotak Cards reserves the right to add/delete banks without prior notice. © Kotak Mahindra Bank. All rights reserved
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
05 JULY, 2023
Running a business as a merchant or a retailer today requires more than just offering high-quality products or services. It also requires making transactions as simple and effective as possible. To achieve this, you need a Current Account that is specially designed for Merchants, and can streamline your daily operations, help you manage expenses, and support your growth prospects. That's where Kotak's Merchant One account plays an important role in helping you boost your business growth.
Merchant One Account is available in two variants: Merchant One Current Account and Merchant One Premium Current Account. Both these accounts come with power-packed features that help merchants digitise their daily business processes and automate transactions while also providing value-added services. But there are differences between the two, each with their own benefits and features that might make it a better fit for your business.
Let's take a detailed look at both these Current Accounts to understand their key differences.
1. Average Balance
The Average Quarterly Balance of Merchant One Current Account is Rs. 50,000.
If you opt for Merchant One Premium Current Account, you will need to maintain an Average Quarterly Balance of Rs. 1,00,000. This means that the Premium account requires a higher level of balance commitment, but the benefits you receive will be very helpful in elevating your business.
2. Free Cash Deposit
If you are constantly dealing with large amounts of cash, you will appreciate the higher deposit limit offered by both the accounts.
While the Merchant One account allows a reasonable free monthly cash deposit limit, the Merchant Premium account offers a significantly higher deposit limit per month.
3. Free DD/BC (Demand Draft/ Banker's Cheque)
The Merchant One Current Account comes with a limited number of free DD/BC per month, after which standard charges will apply.
In comparison, the Merchant One Premium Current Account gives you a much higher number of free DD/BC per month. Again, after this limit is reached, the standard charges will apply.
Merchant One vs Merchant One Premium Current Accounts | Common features
Besides the standard Current Account benefits, these accounts offer features that make managing your business a breeze. Here’s the wide array of solutions you can avail of:
How to apply?
It’s easy. Simply visit the bank website and apply online. The process is quick, and you can add more power to your business with the Merchant One Account.
The decision between the two variants depends on your business needs. But whichever account you choose, both options offer hassle-free online transactions, free cash deposits, digital billing, and cash flow management. All these features help simplify your business processes and allow you to focus on what really matters – Growing your business.
You have already rated this article
OK