How to add beneficiary in kotak bank? [In just 1 minute]

Kotak Bank provides many online services to its customers to easily manage accounts at their fingertips. You can do almost every banking-related work using your smartphone without going to the bank branch. In this guide, we will see how to add beneficiary in Kotak Bank online. Adding a beneficiary is necessary to transfer a higher amount of money via NEFT/IMP. UPI enables users to transfer money without adding a beneficiary, but it is limited to 1 lakh only. To transfer the money above 1 lac, you need to register the beneficiary to send money via NEFT/IMPS/RTGS.

Things required to add beneficiary in Kotak Bank –

1. You must know a beneficiary account number and IFSC code. An IFSC code of beneficiary can be checked in their passbook, or you can search the branch name in google to know the IFSC code.
2. The registered mobile number must be with you while adding the beneficiary.

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How to Add Beneficiary in Kotak Mahindra Bank?

There are two methods available to register new beneficiary in your Kotak bank account.

1. Using Kotak Mobile App
2. Using Kotak Netbanking

We will see each method in detail –

Method 1 – How to add beneficiary in Kotak Bank using net banking?

1. Open Kotak net banking website on your computer and click on the Login button – https://www.kotak.com/.
2. Enter the CRN number and net banking password correctly.
3. Click on the Secure Login button and enter the OTP received on your registered mobile number.
4. Now click on the Login button to enter the main dashboard of your account.
5. From the main menu, click on the Payment/Transfer option.
6. Now, click on the Beneficiaries option and click on Add a new beneficiary option.
   
7. Now, Select the bank name from the list and enter the IFSC number.
   
8. Enter the account name, Account type, beneficiary name, and Nickname.
9. Finally, click on the Submit button to add the beneficiary.
10. You will receive the OTP on your registered mobile number. Enter the OTP and click on the Verify button.
11. The beneficiary is now added and displayed in the Payment/transfer –> manage beneficiary option.

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Method 2 – How to add beneficiary in Kotak Bank using Kotak Mobile App?

1. Downlod Kotak 811 mobile app on your smartphone
2. Activate Kotak 811 app using your CRN, registered mobile number.
3. Once you log in to the app, tap on the ‘Transfer Money‘ option from the main menu.
4. Tap on the ‘Beneficiaries and UPI‘ option and select the ‘Add beneficiary‘ option.
5. Select the bank from the list and enter the IFSC code of the beneficiary bank branch.
6. Enter the Account Number, Confirm the account number, set the Nickname, and enter the Beneficiary Name.
7. Also, select the account type and then tap on the ‘Continue‘ button.
8. You will receive the OTP on your registered mobile number. Enter the OTP and click on the Verify button.

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Summary –

This guide shows how to add beneficiary in Kotak bank by using internet banking and Kotak 811 app. If you have any doubts regarding the information provided in this article, you can write to us in the comment section below.