Frequently Asked Questions
Who can use Click2Remit?
- Make a transfer (in foreign currency) to an individual in India (in Indian Rupees)
- Open an NRE / NRO account
How is Click2Remit safe?
Click2Remit treats all your personal information as confidential and does not share it with any third party (unless, required to do so by law). All your transactions are fully secured behind state of the art firewalls, and which go through ongoing security tests.
For what purpose can a transfer be made through Click2Remit?
- Crediting your own NRO/NRE savings account or fixed deposit with Kotak Mahindra Bank
- For crediting beneficiaries savings account (Non Resident or Resident)
- For family support
What are the main advantages of remitting money through Wire Transfer facility?
- Neither the remitter nor the beneficiary needs to open an account with Kotak Mahindra Bank, as the payment can be by way of a Demand Draft payable in 351 locations across the country.
- Facility to send a message to the beneficiary.
- Facility to track the transfer.
*After your Overseas Bank initiates the transfer. Working days- not including Saturdays, Sundays and Public Holidays in both countries.
How are funds remitted to a beneficiary not holding an account with Kotak Mahindra Bank?
You may select the option of Transfer to Other Bank Accounts or Demand Draft Delivery.
Do I need to remember the Kotak Mahindra Bank's SWIFT address and account details in my country?
All the details including the SWIFT address, Kotak Mahindra Bank's account number in the respective banks/ country would be automatically generated in the transaction slip when you initiate your transfer request.
What is the exchange rate applied on my transfer?
The exchange rate applicable to your transfer is based on the rate, on the day that your funds are converted to Indian Rupees. On the day that you book your transfer, the prevailing rate for that particular day is shown to you on the online calculator as an indication - so that you know how much your beneficiary in India can expect to receive in Indian rupees for the amount that you are sending in your local currency.
How can I view the Exchange Rate for the day?
You may view the exchange rate for the day by using the online exchange rate calculator. Click here for today's exchange rates.
What are the main advantages of remitting money through Direct Debit facility?
Direct Transfer is a completely online mode of transfer into India. The remitter need not open an account with Kotak Mahindra Bank. Even the beneficiary need not have an account with Kotak Mahindra Bank as the payment can be by way of Electronic credits to other bank accounts or demand draft. Now you can:
- Get funds in your Kotak Mahindra Bank account within 5 working days*.
- Direct credit to the beneficiaries account
- Send a message to the beneficiary.
- Track the transfer online.
*5 working days after instructions have been received by us. Working days- not including Saturdays, Sundays and Public Holidays in both countries
How do I set-up my bank account for Direct Transfer?
- All you have to do is register your personal details with us. You would also need to enter your bank account details (bank account number, ABA routing number) that would enable us to directly debit your account using the ACH facility.
- On the basis of your authorisation we would initiate two-sub dollar credits and one sub-dollar debit (equivalent to sum of the two sub-dollar credits) on your account. We would then send an email requesting you to confirm details of the sub dollar credit transactions done on your account.
- An online verification is done of the same, and after successful verification, the account is immediately activated.
What are the benefits of Direct Transfer if the beneficiary has an account with Kotak Mahindra Bank?
With Direct Transfer, you get funds in your Kotak Mahindra Bank account within 5 working days*
*5 working days after instructions have been received by us. Working days- not including Saturdays, Sundays and Public Holidays in both remitting and receiving countries.
Using Direct Transfer how fast would the DD / PO reach the beneficiary?
Demand Drafts will be issued in 6 working days* after receipt of funds at Kotak Mahindra Bank
*Working days- not including Saturdays, Sundays and Public Holidays in both remitting and receiving countries.