Important information regarding UPI charges-KOT...

Important information regarding UPI charges-KOTAK BANK

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Important information regarding UPI charges
This is to inform you that from 1 st April 2020, the number of UPI “Send Money” fund transfers with Zero Charges will be 20 transactions per month. Any subsequent transactions thereof will be charged as per the below-mentioned table:
For transactions less than
or equal to Rs. 1,000
For transactions above
Rs. 1,000
Upto 20 transactions Zero Charges Zero Charges
21 st transaction onwards Rs 2.50 * per transaction Rs 5.00 * per transaction

  • 18% GST applicable

Terms & Conditions:

UPI “Send money” fund transfers that will be charged post first 20 transactions are:
• Transfers done through Kotak Mobile Banking App
• Transfers done through any PSP or 3rd party App
• Transfers done using bank account and IFSC
UPI transactions that will continue to have zero charges are:
• Merchant Payments
• Online Shopping
• Bill Payments
• In future, Kotak Bank has the right to revise the above mentioned charges and the same
shall be communicated to customers 30 days prior to the effective date.

To know more about UPI, please click here.

Warm regards,
Kotak Mahindra Bank Team

In case you do not wish to receive any further marketing e-mails on your CRN ending with 8965, please click here to unsubscribe.

20 Comments  |  
12 Dimers
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Deal Cadet
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Time to close kotak account confounded

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Deal Subedar
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Time to transact in cash.

Charge on deposit.
Charge on withdrawal.
Charge on non-maintanence of minimum balance.
Debit card annual charge.
Card transaction fee.
Convenience fee for paying online.
Now UPI charge.

They should just ask us to pay all of our money and never request it back.  I’m sure even Britishers wouldn’t have looted us to this extent

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Deal Subedar
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Kotak is so much nautanki type. Few months back they increased UPI limit to 50 per month and again decreasing it.

@suplex_city please mention Kotak bank in title as banks are still giving same UPI limit as before.

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TechnoFrendz wrote:

Kotak is so much nautanki type. Few months back they increased UPI limit to 50 per month and again decreasing it.

@suplex_city please mention Kotak bank in title as banks are still giving same UPI limit as before.

DONE BRO

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Deal Subedar
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A.M.A.Z.O wrote:

Time to close kotak account confounded

I did it already as they charged some of my sum when I add without any notification and even without any transactional input

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Deal Cadet
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Yes, they charged me around 30₹ for trying to make UPI transaction while having insufficient balance ( my mistake)

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Shopping Friend
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this.person.actually wrote:

Yes, they charged me around 30₹ for trying to make UPI transaction while having insufficient balance ( my mistake)

This bank sounds like a perfect example of bank not to have a account in.

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Ash-D wrote:

This bank sounds like a perfect example of bank not to have a account in.

But this bank’s shares give good profit stuck_out_tongue

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cocay wrote:

Time to transact in cash.

Charge on deposit.
Charge on withdrawal.
Charge on non-maintanence of minimum balance.
Debit card annual charge.
Card transaction fee.
Convenience fee for paying online.
Now UPI charge.

They should just ask us to pay all of our money and never request it back.  I’m sure even Britishers wouldn’t have looted us to this extent

100% correct, they are tightening the noose, it’s a trap, in the name of make in India. Modi wants to build the rome in a day.

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Deal Newbie
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TechnoFrendz wrote:

Kotak is so much nautanki type. Few months back they increased UPI limit to 50 per month and again decreasing it.

@suplex_city please mention Kotak bank in title as banks are still giving same UPI limit as before.

But I make more than 50trasactions per month with Kotak zero account

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Deal Newbie
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Ash-D wrote:

This bank sounds like a perfect example of bank not to have a account in.

This happen to me many times when made card transactions with insufficient balance 26.98rs everytime. So I removed my card from playstore,Gaana and some other apps which has auto-renewal process. And it never happened again.

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kiranparepally wrote:

But I make more than 50trasactions per month with Kotak zero account

Only person-to-person transfers are chargeable beyond a limit of 20 transactions(earlier limit was 50 transactions/month),merchant/commercial upi transactions are free with no limits.

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Deal Subedar
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TechnoFrendz wrote:

Kotak is so much nautanki type. Few months back they increased UPI limit to 50 per month and again decreasing it.

@suplex_city please mention Kotak bank in title as banks are still giving same UPI limit as before.

It’s just a matter of time before other banks do the same, and even more.

You could consider this thread as a warning sign if you transact with others

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Deal Newbie
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guest_999 wrote:

Only person-to-person transfers are chargeable beyond a limit of 20 transactions(earlier limit was 50 transactions/month),merchant/commercial upi transactions are free with no limits.

Can I make 40free transactions per month with 2frnds

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Deal Cadet
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looter143 wrote:

I did it already as they charged some of my sum when I add without any notification and even without any transactional input

They are definitely bad in terms of customer satisfaction.. any report you need they will send after a long time etc.

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Deal Subedar
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cocay wrote:

It’s just a matter of time before other banks do the same, and even more.

You could consider this thread as a warning sign if you transact with others

Nah, earlier also in 2019 Kotak reduced UPI limits and then later in dec 2019 they again increased to 50 UPI per month and now again they are back to 20 UPI per month.
So inka chalta rhta hai ye laughing

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kiranparepally wrote:

Can I make 40free transactions per month with 2frnds

No,unless your friends upi acc are registered as merchant/commercial acc on upi.

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Deal Subedar
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This is one of the most shittiest bank i have ever seen …

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hackerboys wrote:

This is one of the most shittiest bank i have ever seen …

You never experienced Corporation bank it seems. smile

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