Kotak Mahindra Bank, on Monday, announced the launch of Kotak Remit, its outward forex remittance service, on mobile. It will allow users to send money abroad directly from their mobile phones. The service is now live on its mobile app Kotak Mobile Banking.
Kotak Bank customers will now be able to seamlessly transfer money to international beneficiaries from the app.
The users of this service can transfer money up to USD 25,000 per day without the requirement of any physical documents. Customers can remit USD 2,50,000 in one financial year.
The app will notify customers through every step of the transaction and also save details of beneficiaries for easy transactions.
Kotak Remit offers remittances in currencies like the US dollar, Australian Dollar, UK Pound Sterling, Hong Kong Dollar, Saudi Riyal, Canadian Dollar, Singapore Dollar, Euro, Japanese Yen, and more.
