Necessary items to add beneficiaries to Kotak Bank

Kotak Bank offers many online services to its customers to easily manage their accounts. You can perform almost all banking activities using your smartphone without having to go to a bank branch. In this guide, we will see how we can add a beneficiary to Kotak Bank online. Adding a beneficiary must be transferred to a higher amount of money via NEFT / IMP. [Recommended: Requirements for obtaining an IOB customer ID

UPI enables users to transfer money without adding a beneficiary but is limited to 1 lac only. To transfer more than 1 lac money, you need to register the beneficiary to send money via NEFT / IMPS / RTGS.
Customers at Kotak Mahindra Bank can add and operate beneficiaries using net banking and mobile banking. Once you have registered a beneficiary, all types of transfers (NEFT, RTGS, and IMPS or Kotak-to-Kotak transfers) will work automatically.

Credit Card, Money, Cash, Credit, Card

You can now enable One Time Fund Transfer (IMPS, NEFT, or another Kotak account) without adding a beneficiary. To complete the transaction, you will need to enter a One Time Password (OTP) that will be sent to your registered mobile number. The daily limit is Rs. 50,000.

For more than 50,000 transfers, you need to add a bank account as a beneficiary first to your account, then you can transfer money to an additional beneficiary account.

Necessary items to add beneficiaries to Kotak Bank

You must know the beneficiary account number and IFSC code. The beneficiary IFSC code can be viewed in his or her passbook, or you can search the name of the branch on google to find out the IFSC code.
The registered mobile number should be with you while adding a beneficiary.

How to add a beneficiary to Kotak bank using full banking

  • Open the Kotak banking website on your computer and click the login button –
  • Enter the CRN number and bank password correctly.
  • Click on the secure login button and enter the OTP detected on your mobile phone.
  • Now click the login button to enter the main dashboard of your account.
  • From the main menu, click Payment / Transfer Payment.
  • Now, click on the Beneficiary option and click on Add new beneficiary option.
  • Click on the beneficiary option on the Kotak banking net
  • Now, Select the bank name from the list and enter the IFSC number.
  • enter the account number and ifsc to add a beneficiary to the Kotak bank
  • Enter the account name, account type, beneficiary name, and nickname.
  • Finally, click the Submit button to enter the beneficiary.
  • You will receive an OTP on your registered mobile number. Enter OTP and click the confirmation button.
  • The beneficiary has now been added and shown in the Payment / Transfer -> manage beneficiary option.

How to add a beneficiary to Kotak Bank using the Kotak Mobile App

  • Download Kotak 811 mobile app for your smartphone Click here
  • Activate the Kotak 811 application using your CRN, a registered mobile number.
  • Once signed in to the app, tap the Transfer Money option from the main menu.
  • Tap Beneficiaries and VPA option and select Insert Beneficiary option.
  • Select a bank from the list, enter the IFSC code of the beneficiary bank branch.
  • Enter the account number, verify the account number, set a nickname, and enter the beneficiary name.
  • Also, select an account type and tap the continue button.
  • You will receive an OTP on your registered mobile number. Enter OTP and click the confirmation button.

In this guide, we have seen how we can add a beneficiary to Kotak bank through online banking and Kotak 811. If you have any doubts about the details provided in this article, you can write to us in the comments section below.

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