Kotak Bank Debit, Spendz Card services will be unavailable during this time

Kotak Bank Debit, Spendz Card services will be unavailable during this time

Kotak Mahindra Bank has informed its customers via an email that the bank systems will be undergoing a maintenance activity on June 21, 2023.

The bank stated in the email: “We would like to inform you that the Bank systems will be undergoing a maintenance activity from June 21, 2023 00.05 AM to June 21, 2023 07.00 AM (IST).”

During this time, below mentioned services on your Kotak Bank Debit/ Spendz Card will be temporarily unavailable:
ATM, POS, ECOM, QR, Payment Tokenization, Cardless cash withdrawal, PIN authentication & PIN generation, Blocking or unblocking of card, Card Controls – Transaction amount limit modification & Activation or Deactivation.

Important FAQ related to Kotak Debit, Spendz Card, as per the website.

What is Spendz?

Kotak Spendz is a prepaid offering for your small, daily expenses. It is specially designed to help track your day to day expenses separately, making it easier to manage budget and avoid overspending.What are the Kotak Debit Card transaction fees if I swipe my card at fuel pumps or booking railway tickets?
The following transaction charges are applicable when you use the Kotak Debit Card at:

Petrol pumps: Rs. 10 or 2.5% of the transaction amount (whichever is greater).
IRCTC: For all IRCTC transactions, upto 1.8% Payment Gateway (PG) charges.

What is the process for fuel surcharge waiver?
For eligible kotak debit card(s) and eligible transactions done in a calendar month, fuel surcharge is reversed by 12th of the next month.

How to use Spendz?

  • Go to Kotak Mobile App
  • Tap on Spendz Prepaid under the Bank section
  • Tap on Add Money and load money as per your requirement
  • Now you can make payments conveniently via Spendz Card, Pay Your Contact, Scan & Pay or Billpay.

What modes of payments are available with Spendz?

  • Online payments on apps / websites
  • Offline / in-store payments
  • Tap & Pay
  • UPI (Scan & Pay and Pay Your Contact)
  • BillPay.

What are the transaction limits for different modes of transactions? Is it possible to modify the transaction limits?
The default limits for Spendz Prepaid Instrument are as follows:

  • Maximum balance in Spendz, at any point of time: Rs. 1.75 lakh
  • Daily UPI Limit: Rs. 1 lakh
  • Per Transaction UPI Limit: Rs. 1 lakh
  • Default transaction limits for Spendz Card are as follows:
  • Daily ATM withdrawal limit: Rs. 25,000
  • Daily Merchant Payment Limit: Rs. 1 lakh

Source link

Author: Shirley