Kotak Mahindra Bank launches remittance solution on its mobile app

Tuesday 16 February 2021 15:37 CET | News

India-based Kotak Mahindra Bank has announced that its remittance solution, Kotak Remit, is now live on the Kotak Mobile Banking app. 

Kotak customers can now make international money transfers of up to USD 25,000 or equivalent with no physical documentation. Kotak Remit offers payments in 15 currencies that include Australian Dollar, UK Pound Sterling, Hong Kong Dollar, Saudi Riyal, Canadian Dollar, Singapore Dollar, Euro, Japanese Yen, US Dollar, Swiss Franc, South African Rand, UAE Dirham, Danish Krone, New Zealand Dollar, and Swedish Krona.

The transaction process involves two steps that include entering the transfer details and the beneficiary details. Upon providing the required information, customers can remit up to USD 25,000 or equivalent per day and up to USD 250,000 or equivalent in a financial year. A notification will be sent to the customers at every stage of the transaction process.

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Keywords: Kotak Mahindra Bank, India, Asia, mobile banking, remittance, money transfers, mobile payments
Categories: Payments & Commerce
Countries: India
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