Are you using Kotak Mahindra Net Banking or wanted to use and don’t know How to use? Read this article and learn ABC of internet banking.
Use Kotak Mahindra Net Banking
After the demonetization, Narendra Modi led BJP government is promoting financial transaction without hard cash. They have offered various option of payment such as Aadhar payment app, Credit card, Debit card, RTGS, NEFT and Net Banking.
Here in this article we will let you know how to activate and use net banking? How to add beneficiary and Make payment?
What is Net Banking/ Online Banking?
Net Banking or Interment banking/ online banking is online financial transaction, where one can send money to the other over the internet. To use this facility, Active internet connection is required. User has to open secure web portal of bank and credentials to login into the account. It is one of the safest and easiest ways to transfer money to other account anywhere in the world.
Every bank in India offers Net Banking facility to their customer and in upcoming future thousands of user will subscribe for this facility.
Kotak Mahindra Net Banking is one such facility is available to Indian users. Currently thousands of happy customers are using secure web portal to receive and send money through electronic payment system. Customers with valid username and password can access their account from anywhere and that is the reason it is known as Virtual Banking.
How to activate Kotak Mahindra Net Banking?
First of all, user has to activate Internet banking from official website of the bank. Read this below tutorial and activate your account.
- Open official website of Bank which is kotak.com
- On the home page there is option of Login
- Click on that and select “Net Banking”
- It will lead you to the new window and there click on “Register for Net banking”
- Once again it will take you to new window, where online net banking registration process will begin.
- In this section, user has to enter details
- CRN or customer ID
- Nick Name
- Date of Birth
- Mother’s maiden name
- Registered mobile number
- Registered Email ID
- Click on continue and choose the activation method
- Debit card
- Secret question
- Credit card details
- Physical Pin number
- Choose any method and click on continue
- Here you have to register new Password and submit it.
Your Kotak Mahindra net banking is activated.
Add Beneficiary into Kotak Mahindra Net Banking Account
So you have activated your account and you are all set to make online transaction but before that you have to add beneficiary. Now you must be thinking, what is beneficiary?
In simple words, beneficiary is a person whom you want to transfer money.
But before that you will require some basic details such as Credentials (ID, Password) Bank details and active internet connection.
- First of all you have to login into your account from secure web portal.
- Click on above link and login to your account with the help CRN and Password.
- You can use customer id or Nick name to login.
- You will receive dynamic access code of 6 digits in Mail or Phone number. If you don’t get a code, click on “Regenerate code” and you will get new code within seconds.
- After successful login it will immediately lead you to the Home page.
- Now Click on Banking on the Menu Bar ( as shown in the picture)
- New drop down menu will open and you can check multiple options
- Find and select “TRANSFERS AND PAYMENTS”
- You may find a option of Add/manage beneficiaries
- New window will lead you to Add/Manage Beneficiaries
- Here you have to add primary details of Beneficiaries, which is mentioned below
- Full Name
- Mobile Number
- Email Address
- Nick Name
- Pin Code
- After entering this details click on “Add the beneficiaries”
- Here you have to choose Transfer type such as
- Someone else’s Kotak Account
- Accounts at another Bank
- Demand Draft
- Instant fund transfer (IMPS)
If you want to send money into Kotak Bank account than select first options and if you want to send money to other bank account than select second option.
Now choose Transfer Type, select NEFT or RTGS and enter details such as
- Account Number
- Confirm Account number
- Account type
- Destination Bank details
In bank details, you have to enter IFSC details, which you can search in below TAB.
Upon successful entry, you will get a message of registration successfully over and you will get activation key into mobile number.
- Now go to Add or manage beneficiary and find the name and click on it.
- As of now Status is In Active, so you have to add Activation key, which is in your Mobile number. Enter the same and click on submission.
- Once you add this key, Beneficiary status is changed to activate. Now you are all set to send money through internet banking.
How to make payment through Instant Fund Transfer (IMPS)
Kotak Mahindra Net Banking offers Instant fund transfer or IMPS, which will help you to send money within minutes. To make payment through IMPS, you have to add some details in add transfer type.
- Open Add beneficiaries and there is option of Add a Transfer type, select it.
- In this window, you have to choose payment type which is IMPS
- Now you have to do this drill one more time and you are ready to go for instant money transfer.
How to do NEFT with Kotak Mahindra Bank Net banking
User can transfer money through NEFT as we have already Add both the transfer method. You are good to go for NEFT.
- Your payment will take at least 24 hours to transfer the money.
- Now select add/mange beneficiary and Choose transfer type as NEFT
- If you are sending to within Kotak bank account, choose the same or select other bank account.
- Now you have to enter Transfer details such as Transfer from, transfer to, Amount and description.
- Now you have to select, Payment time and that is pay now, later date or schedule payment.
- And then you have to submit the transaction
- Your Kotak Mahindra Bank net banking transaction is successfully over.
If you find any problem while using internet banking, you can contact customer care and get the solution.