Kotak Spendz card

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.

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.

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

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.

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.

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?

@some1anywhere964

Does spendz give 1% cashback for upi payments?

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.

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 ?

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 😰

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

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.

@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.

Is it worth to take this card? 

@newmagic

Yes I mean the UPI qr screenshot.

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

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

Is it free of cost?

Okay Nice thread.

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

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.

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