Kotak Mahindra Bank is a private sector bank operating in India. The bank is headquartered in Mumbai, India. Operations of Kotak Mahindra bank started back in the year of 2003 when RBI granted the banking license to Kotak Mahindra Finance Limited to carry out the banking business. Since then, due to their awesome policies and services, the bank has become the fourth largest private sector bank operating in India on the basis of its market capitalization. Kotak Mahindra bank currently, has around 1370 branches across the 689 locations. Kotak group operates around 2,163 ATM’s spread across the country. They offer a variety of services like Net Banking, debit cards, credit cards, wealth management, fixed deposits, demand draft, cheque, general insurance, life insurance, savings account, current account, and much more. You can also open the Kotak 811 account through their website which is a digital account and one does not need to visit the branch and do the paperwork for opening the account.
Here in this article, we are going to tell you about how to transfer money from Kotak Mahindra net banking using IMPS. IMPS is the immediate payments service which is availed by the account holders. To transfer money using IMPS, you must be logged into your Kotak Mahindra net banking. You should have the Receiver’s account details as a beneficiary in your account. IMPS service provided by the Kotak Mahindra Bank is free in most of the account but do note that some accounts may charge you a nominal fee of up to 10rs. for IMPS service.
#Way 1: From Website
- Log in to the official net banking website of Kotak Mahindra bank i.e. www.kotak.com/j1001mp/netapp/MainPage.jsp
- You will be presented with a start page of the Bank with all the necessary details.
- Click on the Banking option from the top header.
- Now choose transfers and payments from the left menu. Click on make a transfer option.
- Select the Instant Funds Transfer (IMPS) option.
- Choose the account from which you would like to transfer money from.
- Now choose the account you would like to transfer money to. In case you have not added the receiver’s account then you need to add it first as a beneficiary. If so then follow the steps up to step no. 9 otherwise skip it.
- Click on add a new beneficiary option. Enter the details of the recipient’s account in their respective columns.
- Now click on the submit option.
- Enter the amount and remarks in their respective columns and click on submit transaction button. If you have added the beneficiary recently then the amount you can send is limited to 50,000 rupees for the first 24 hours.
- You will get the confirmation message on your registered mobile number and email address regarding the money debited from your account.
#Way 2: From Mobile App
- Open the Kotak Mahindra mobile app.
- Select the payments option from home page.
- Click on send money option and choose the option as per your need.
- Enter the beneficiary details in the space provided and click on continue option.
- Choose the One Time IMPS option and click on continue button.
- Your transfer will be processed and you will receive a message on your registered email and mobile phone number.
These are the easy steps you need to follow in order to transfer money using IMPS from Kotak Mahindra Net Banking. If you are still facing any difficulties then don’t forget to drop your problems and queries in the comments section below. We will try our best to help you.