Kotak Mahindra Bank Business Class Gold Debit Card - Benefits, Charges and Eligibility
Kotak Mahindra Bank Business Class Gold Debit Card Overview
Kotak Business Class Gold Debit Card, gain access to great deals and discounts at merchant establishments and fulfill all your business requirements. This Debit Card is available in both VISA and MasterCard variants.
Kotak Mahindra Bank Business Class Gold Debit Card Features
- Available in both VISA and MasterCard variants
- Purchase Limit: Rs. 1,75,000 Per Day & ATM Limit Rs 50,000 Per Day
- Access at all merchant establishments and ATMs that accept VISA and MasterCard cards in India and abroad
- Available as Magnetic Strip Card only which has additional security features and is available on request at no additional cost
- Use your card for online shopping, e-payments and bill payments
Kotak Mahindra Bank Business Class Gold Debit Card Eligibility
All Resident Current Account holders & NRI s holding NRE Current Accounts in Kotak Mahindra Bank. Existing eligible customers can also upgrade the accounts to apply for this card.Kotak Mahindra Bank Business Class Gold Debit Card Fees & Charges
- Issuance Fee: Nil
- Annual Fee: Rs 250 plus applicable taxes, for Ace A/cs - NIL Charges for 1st Year thereafter Rs. 250
- Issuance Fee (Add-on Card): Rs 250 plus applicable taxes, for Ace A/cs - NIL
- Annual Fee (Add-on Card) (from 2nd year onwards): Rs 250 plus applicable taxes
- Replacement of Lost Debit Card: Rs 200 plus applicable taxes
- Replacement of Damaged Debit Card: Nil
- Declined Transactions due to insufficient balance: Rs 25 per transaction
- Cross-currency mark-up charges: 3.5% on foreign currency transactions carried out on Debit Cards
- Cash Withdrawal / Balance Enquiry at international ATMs: Rs 150 per transaction
Kotak Mahindra Bank Business Class Gold Debit Card Benefits
- Cashless shopping with VISA/ MasterCard Debit Card
- Get an SMS and Email alert on your registered mobile phone and Email ID for every transaction done using your Debit Card
- Enjoy fuel surcharge waiver (currently 2.5%) every time you purchase petrol at any petrol pump across the country
- Free Lost Card Liability Cover: Rs. 1,75,000
- Free Purchase Protection Limit: Rs. 1,00,000
- Free Lost Baggage Insurance: Rs. 1,00,000
- Free Air Accident Insurance: Rs. 20,00,000
- With Kotak Business Power Class VISA Gold Debit Card, you are eligible to apply for Priority Pass, world's largest airport lounge access program, to get access to more than 900 most luxurious VIP airport lounges in over 120 countries and 400 cities worldwide
- Offers & Discounts at Merchant Outlets in categories such as Lifestyle, Fine Dining, Travel, Health and Fitness
- You can call bank's Emergency Helpline for Card Blocking/ assistance
- Secure Online Shopping
- 24/7 customer care facility
- Highly safe and secure transactions
Kotak Mahindra Bank Business Class Gold Debit Card Documents Required
- Proof of Identity : Aadhaar Card/ PAN Card/ Passport Driving License/ Voter ID Card
- Proof of Address : Aadhaar Card/ Driving License/ Ration Card/ Voter ID Card/ Passport
- Passport sized photographs
What is EMV-Chip Based Debit Card?
EMV stands for Europay MasterCard and Visa, who developed this technology. EMV-chip based debit cards are the debit cards which have embedded microprocessor chip that stores and protects cardholders' information/ data. It uses enhanced security features to protect the important date of the card holders and discourages card's unauthorized usage.
EMV-chip based debit card generates fresh user data every time the user transacts. Therefore, it is impossible for hackers/ fraudsters to steal the information or copy the original data from any card. Further, EMV technology uses your debit card as well as PIN to complete any transaction.
What is a Contactless Debit Card?
Contactless debit card is a sensor embedded new age debit card that works on Near Field Communication (NFC) Technology using Radio Transmission to ascertain contact when the card is brought near a terminal. This enables the customers to make payments up to Rs.5,000 without swiping their cards & entering a PIN.
Benefits of a Contactless Card
- Fast & Convenient
- Safe & Secure
- No chance of losing or misplacing it
The Reserve Bank of India (RBI) has asked all banks in the country to replace magnetic-strip debit/ credit cards with EMV-chip based cards by 31 December 2018 as magnetic cards are quite vulnerable to skimming. Banks have already replaced the existing magnetic strip debit/ credit cards with latest EMV chip cards. Banks will provide it free of cost.