Hot Deal

Kotak Spendz card

902°
Post Emperor
newmagic
Do you use or know about Kotak Spendz Card ?
If yes please help me with below -
1) Is it just a UPI based transaction card or we can do non UPI transactions as well ?
2) Is the card accepted widely across all online shopping/bill payments/payment platforms ?
3) Any usage charges ?
4) Does Cashback comes on time and directy into bank account with Kotak ?
5) any other cons of the card.

I found attractive because of 1% cashback on all spends, but bank like Kotak usually don't give such for free blush, so curious to know answer for above .
Expired
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Savings Mentor Savings Mentor
Link Copied

You can't transfer amount from Spendz wallet back to bank account - not that I know of at least - I didn't try it. It is accepted everywhere. I even got discounts on Kotak bank debit cards on Flipkart and Amazon with it that are otherwise not available on Kotak 811 digital account classic debit card. Card issuance was free for limited period, then they were going to start issuance charges. No maintenance charges as per https://www.kotak.com/content/dam/Kotak/gsfcfil.... For 14th May transaction, cashback was given on 8th June so no immediate but not too late either.

65 Comments  |  
18 Dimers
  • Sort By
Post Emperor Post Emperor
Link Copied
@some1anywhere964
Savings Mentor Savings Mentor
Link Copied

You can't transfer amount from Spendz wallet back to bank account - not that I know of at least - I didn't try it. It is accepted everywhere. I even got discounts on Kotak bank debit cards on Flipkart and Amazon with it that are otherwise not available on Kotak 811 digital account classic debit card. Card issuance was free for limited period, then they were going to start issuance charges. No maintenance charges as per https://www.kotak.com/content/dam/Kotak/gsfcfil.... For 14th May transaction, cashback was given on 8th June so no immediate but not too late either.

Post Emperor Post Emperor
Link Copied
Thanks ..does it require to have a Kotak UPI account ?
View 1 more reply
Savings Mentor Savings Mentor
Link Copied

I don't think the Spendz account itself gets a UPI ID to load money.

You can add funds to Spendz from your Kotak bank account from the app. And it has "Pay your contact" by mobile number/UPI ID or Scan QR Code. Shows "Coming soon" for Fund Transfer. 1% cashback on your daily spends made through Spendz Card, no cap on cashback and no minimum spends.

Post Emperor Post Emperor
Link Copied
Thanks again..I am not fan of UPI so if it works without creating UPI id I think it is worth... correct me if I am wrong in decision blush..
Savings Mentor Savings Mentor
Link Copied

Why don't you try it without ordering physical card? You can use it with a virtual card too.

Post Emperor Post Emperor
Link Copied
Bro I tried but now I realised - 2 imp cons which you haven't mentioned- 1) There will be No interest on amount added into this card 2) if it is being used to top up Wallet they charge additional 2-3% , like Paytm and others pensive pensive
View 1 more reply
Hunk Hunk
Link Copied
Is Kotak Bank account Mandatory for getting Spendz Card?
Post Emperor Post Emperor
Link Copied
Yes
Savings Mentor Savings Mentor
Link Copied

https://cdn0.desidime.com/attachments/photos/802884/original/CB.png?1662647189

I would expect it at least a month later. It shows up in the account statement. The 8th June cashback is for a transaction from May, around a month earlier.

Post Emperor Post Emperor
Link Copied
Sir please tell will it come combined in September or will it be credited for each corresponding transaction i.e for 10 transactions I would have 10 cashback enteries ?
Savings Mentor Savings Mentor
Link Copied

I don't know that because in one month, usually I do just one purchase or transaction using this card, sometimes none. Never did two in a month.

Savings Mentor Savings Mentor
Link Copied

It looks like Kotak has added an option to transfer the Spendz amount back to your Kotak bank account. It's called "Send to My Kotak Account" -> Send Money -> Send to My Kotak Accounts. In the "From" area you can choose your Spendz account and in the "To" area, choose your Kotak Savings account.

This wasn't there earlier a few months ago. So finally similar to ICICI Pockets, you can transfer money back from Spendz Wallet prepaid wallet/card back to savings account. I didn't actually try it. Let me know if you try it and whether it takes a "service charge+GST" like HDFC PayZapp takes to transfer back to your HDFC bank account. Or whether it is free/no charge?

Deal Subedar Deal Subedar
Link Copied

@some1anywhere964

Does spendz give 1% cashback for upi payments?

Deal Cadet Deal Cadet
Link Copied

Can anyone answer?

View 2 more replies
Savings Mentor Savings Mentor
Link Copied

For Spendz card transaction on 15th Sept, the 1% cashback was given on 8th Oct. So it takes approximately 23 days. It is definitely given per transaction, not combined.

Deal Newbie Deal Newbie
Link Copied
Do we get 1% cashback on wallet loads?
View 14 more replies
Finance Mentor Finance Mentor
Link Copied

How much cashback does this card give for small transactions value like Rs.25 or Rs.50

Does it give cashback on Fuel transactions too ?

is there a convenience fees levied on this card on Fuel Spends ?

Post Emperor Post Emperor
Link Copied
Flat 1% , I guess excluded fuel
Cool Cool
Link Copied

loot ended yesterday 😭 using spendz card in aeronpay to pay cc bills... using this from last  2 months and got approx 10k 

now aeronpay started conv fee 😰

Deal Newbie Deal Newbie
Link Copied

Any other way to receive 1% cash back on credit card bill payment

Post Emperor Post Emperor
Link Copied
@admin @bumblefoot could you keep the discussion open instead of marking it expired....I think a lot many dimers are still interested or would be interested about this
Deal Newbie Deal Newbie
Link Copied

First of all you guys are seeing spendz card in wrong light.

Think of it as a means to withdraw you kotak 811 money with having to pay 299 for kotak 811 physical card. So now you have a zero balance account to keep money and earn interest and a spendz account to transfer money into for atm withdrawal and pos transactions.

It's a loophole to have a fully fledged free account with unlimited 1% cashback on card spendz.

And no you can send money back to your original account just need to have an account with another bank transfer money from spendz to thath account first by QR scan and then from that another back account to kotak 811.

Post Emperor Post Emperor
Link Copied
How to transfer money from spendz to another bank account using QR code... could you share an example with steps ?
Deal Newbie Deal Newbie
Link Copied

@newmagic

How to transfer money from spendz account back to main kotak account.

Meathod 1:- If you have account with two separate banks.

Let's say you have account with two seprate banks one of them is kotak and other is some xyz bank.

1)Save your other xyz bank qr screenshot in gallery.

2)Open spendz(assuming money is already in spendz account) now click on scan qr and then select upload image from gallery.

3)Now select your other bank qr from gallery.

4)Pay money to that qr now you have money in your other bank.

5) Transfer your money from your other account to your main kotak account.


Meathod 2:- If you only have 1 account with kotak

Assuming you use Paytm/Phonepe/Gpay etc and have linked your kotak account to it.

1) Open the UPI app of your choice save your own qr code to gallery.

2) Open spendz click on scan qr and select upload image from gallery.

3)Now select your main kotak account qr linked with your preferred UPI app from gallery.

4)Pay to this qr(Note sometimes your name may not be shown but your UPI I'd will be displayed check UPI I'd).

5)And money reaches back to your main account.




Post Emperor Post Emperor
Link Copied
Thanks - In method 1
How to get other xyz bank account QR screenshot ? Do you mean UPI screenshot ?
Deal Cadet Deal Cadet
Link Copied

Is it worth to take this card? 

Post Emperor Post Emperor
Link Copied
Read the thread ..and decide..there are few pros and cons ...weigh in which is more important for you
Deal Newbie Deal Newbie
Link Copied

@newmagic

Yes I mean the UPI qr screenshot.

Deal Cadet Deal Cadet
Link Copied

If credit card bill pay is done through spendz card, i think there will be 1% cashback credited. Has anyone tried??

Savings Mentor Savings Mentor
Link Copied
Yes but which app allows paying CC bill via prepaid card? Most of them allow only debit cards?
Deal Subedar Deal Subedar
Link Copied

Is there any benifit of getting 1% on UPI transaction?

I am getting notification from kotak bank app that using spendz for UPI transaction will give 1% cashback

Post Emperor Post Emperor
Link Copied
Even without upi it gives 1% cash back
Helpful Helpful
Link Copied

Is it free of cost?

Post Emperor Post Emperor
Link Copied
Yes if you already have a Kotak saving account
Deal Newbie Deal Newbie
Link Copied

Okay Nice thread.

I want to know, If we may add money in this Spendz Card using CC of any bank??

Savings Mentor Savings Mentor
Link Copied
No you can't
Deal Newbie Deal Newbie
Link Copied

Thank you for reply. one more question, Do you know any prepaid card or wallet where you may add money using credit card. except payzapp. Please share details.

Post Emperor Post Emperor
Link Copied

I received a coupon code from Kotak for doing Spendz transaction but it doesn't mention how to reedem..anyone knows how to reedem such Kotak coupon code ?

The offer was for min spend of 3k using Spendz card

Savings Mentor Savings Mentor
Link Copied
Might be a Swiggy voucher code so try adding on Swiggy.
View 7 more replies
replyuser
Click here to reply
Reply