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Kotak Bank IMPS Charges

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About Kotak Bank IMPSIt is an instant interbank electronic fund transfer service
Kotak Bank IMPS TimingsAvailable 24x7, 365 days (including Sunday & Bank Holidays)
Kotak Bank IMPS Limit (Minimum)Re. 1
Kotak Bank IMPS Limit (Maximum)Rs. 2 Lakh
Kotak Bank IMPS Charges (outward)NIL
Kotak Bank IMPS Transfer Modes
  • Using Mobile number & MMID (P2P)
  • Using Account number & IFSC Code (P2A)

Eligibility for Kotak Bank IMPS

All resident current and savings account holders of the Kotak Mahindra Bank who are registered for Net Banking or Mobile Banking or having a valid MMID (Mobile Money Identifier) are eligible for this service.

How to Register the beneficiary using Kotak Internet Banking?

  1. Login to Kotak Net Banking
  2. Click on Transfers and Payments
  3. Click on Add / Manage Beneficiaries
  4. Add the beneficiary details
  5. Click Add Transfer Type and select IMPS
  6. Select the IMPS transfer type and enter the required details
  7. Verify the details and click on Confirm
  8. Activation code will be sent to your preferred mobile number
  9. Enter the code and the beneficiary gets activated for transfer

How to Send Money through Kotak Internet Banking using Mobile Number & MMID?

  1. On Net Banking, click on Make a Transfer
  2. Select Immediate Payment Services (IMPS) and select MMID
  3. Enter the mandatory details and click on Submit Transaction
  4. Verify the transaction details and click on Confirm & Transfer

How to Send Money through Kotak Internet Banking using Account Number & IFSC?

  1. On Net Banking, click on Make a Transfer
  2. Select Immediate Payment Services (IMPS) and select IFSC
  3. Enter the mandatory details and click on Submit Transaction
  4. Verify the transaction details and click on Confirm & Transfer

IMPS Vs NEFT

IMPS Vs NEFT

IMPS Vs RTGS

IMPS Vs RTGS

How to Send Money through Mobile Banking using Mobile Number and MMID?

  1. On Mobile Banking, click on Banking > IMPS > IMPS Fund Transfer
  2. Select MMID tab
  3. Enter the mandatory details and click on Pay Now
  4. Verify the transaction details and click on Confirm

How to Receive Money using IMPS?

You need to share your account number and IFSC or mobile number and MMID with the sender to receive money through IMPS.

Type of Merchants Eligibile for Kotak Bank IMPS

  • Mobile top-up / DTH top-up
  • Insurance premium payment
  • Online shopping
  • Over-the-counter payments
  • Fees payments to schools / colleges / universities
  • Utility Bill payments
  • Travel & Ticketing

IMPS Merchant Payment:

This facility is available only through Mobile Banking. Steps to make a Merchant Payment using IMPS:

  1. On Mobile Banking, click on Banking > IMPS > Merchant Payment
  2. Enter the merchant's MMID and Mobile Number
  3. Enter the amount to be transferred and click on Pay Now
  4. Verify the transaction details and click on Confirm

How to Get the MMID for your Account?

  • Sending "MMID(space) Last 4 digits of Account Number" as an SMS to 9971056767 or 5676788 from your preferred mobile number registered with the bank. The MMID for the account will be sent to you via SMS and email alerts.
  • Login to Mobile Banking and click on IMPS. Click on "View / Modify MMID".
  • Calling our 24-hour Customer Contact Centre or visiting the nearest Kotak Mahindra Bank branch

Merits of Kotak Bank IMPS

  • Instant confirmation of fund transfer to receiver and sender
  • Minimal charges
  • Available 24x7, 365 days (functional even on holidays)
  • Send and receive money instantly

Demerits of Kotak Bank IMPS

  • Cap on maximum transfer amount: Only upto Rs. 2 lakh can be transferred through IMPS
  • All the banks in India do not participate in IMPS system

Which Banks are Offering IMPS?

Bank NameMobile No. & MMIDAccount No. & IFS CodeInternetBranchMobileATM
Abhinandan Urban Co.op. Bank LtdLiveLiveLiveLive
Abhyudaya Co Operative BankLiveLiveLiveLive
Adarniya Pd Patil BankLiveLive
Adarsh Co Operative BankLiveLiveLive
Adarsh Mahila Nagari Sahakari Bank Ltd.,aurangabadLiveLive
Aditya Birla Idea Payments Bank Ltd.LiveLive
Ahmedabad District Cooperative BankLiveLiveLive
Ahmednagar Merchant's Co Op. Bank Ltd.LiveLiveLiveLive
Ahmednagar Shahar Sahakari Bank MaryaditLiveLive
Airtel Payments Bank Ltd.LiveLive
Ajantha Urban Co Op Bank LtdLiveLive
Ajara Urban Cooperative Bank LtdLiveLiveLive
Akhand Anand Co Op Bank Ltd(icici)LiveLive
Akola District Central Cooperative Bank LtdLiveLive
Akola Janata Commercial Co Operative Bank LtdLiveLive
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 ... Next

FAQs

On successful completion of the transaction, alerts will be sent on your preferred mobile number and email ID registered with the bank.

Fund transfer using Account Number & IFSC - Minimum Re. 1 and Maximum Rs. 2 lakh. Fund transfer using Mobile Number MMID - Minimum Re. 1 and Maximum Rs. 2 lakh

For any reason, if the IMPS transaction is not processed, the money would be credited back to the sender's account instantly. In case the fate of the transaction is not determined immediately, the reversal of funds will happen on the next working day. In case your Kotak Bank account is debited and the beneficiary account is not credited, then please contact our 24x7 Customer Care Centre.

There are no IMPS charges.

Yes, the customer should have sufficient account balance to initiate a fund transfer using IMPS.

There are 2 ways:

  • Beneficiary Mobile Number and MMID
  • Beneficiary Account Number and IFSC

The beneficiary should have his mobile number registered with the bank where he has his account and wants to receive the credit.

The beneficiary should have his mobile number registered with the bank where he has his account and he should also have a valid MMID provided by the bank.

MMID stands for Mobile Money Identifier. MMID is a 7 digit code issued by participating banks to their customers for availing IMPS.

The funds get credited into the beneficiary's account instantly.

All resident current and savings account holders of the bank who are registered for Net Banking or Mobile Banking are eligible for this service.

No. You cannot transfer money abroad using IMPS. This facility is available for fund transfers made only in India.

 

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