🚨| Major Update: Kotak has silently updated its T&C without sending any emails, which is apparently allowed under their current policy.
I've updated the first post with the latest link. In this post, I'm highlighting only the changes with
red bold.
Note: I’m not sure when exactly Kotak made these updates. So please don’t ask me when they came into effect. I only noticed them today, but I don’t know how long they’ve been live.
(1) In 18th point, they have added 1 more bullet point.
Transactions on below categories will not be considered for cashback:
- Loan repayment
- Wallet load transactions
- Utilities payment
-
Credit Card bill payments
(2) 19th point:
GSFC benefits will commence post 24 hours of 811 Super fee debit.
(3) 20th point:
Virtual debit card will be visible post 72 hours of account opening.
(4) 21st point:
Bank reserves the right to not issue Chequebook to customers having abusive behavior.
(5) 22nd point:
International transactions will be calculated at ₹95/currency denominator for US Dollar, Pound Sterling, Euro, Australian Dollar, Indonesian Rupiah and Vietnamese Dong as ₹0.05/currency conversion additionally. Singapore Dollar & Canadian Dollar and rest of the currency will be calculated at ₹15/currency, denominator for calculating cashback.
(6) 23rd point:
Bank observed that certain merchants do not use right MCCs while posting a transaction leading to ambiguity. As a remedial action Bank will now also scan narration of the transactions to evaluate cashback eligibility. Transaction narrations related to credit card, wallet load, fund transfer, gift cards, platforms like AmazonPay, Canara Setu etc. and other similar keywords in narration can be construed by Bank for not giving cashback. Decision of Bank on this shall remain final.
(7) 24th point:
For above point, Bank continuously checks transactions and MCCs and will keep updating their logic. Since it is an on-going activity, no additional communication shall be sent as working details have already been mentioned on above point.
(8) 25th point:
Any complaints need to be raised within 45 days of transaction month.
In short, sabse important 23rd point hai. Pehli baar dekh rha hu koi bank canara setu and amazon pay ke clearly mention kar rha hai matlab yeh clear hai ki canara setu ka end Kotak ne hi karwaya, Unipay ka end bhi kotak ne hi karwaya also Amazon wallet loot bhi Kotak ne hi karwaya 🤣 🤣 🤣
and jis hisab se inhone likha hai scan narration karenge usse clear samaj aarha hai ki agar koi transacstion loot mai karliya toh woh isko phirse recheck karenge by the time of releasing cashback. Bahut hi mc bank hai yaar, isko ban hi rehna tha. Axis 🪓 se bhi aage ho rhi hai.
Mentioning few kotak fellows: @Aniket @s1t2y3a3m6 @pinki @varun__goel_ @its_karan @Pikachu. @shu_sha_ @prankster @messypenguin @surojitLaha @MrJJ @SSquad @2025 @NShah @La pasión @harshgupta940 @Sup @cool_jazz @donisback7 @SnowLucifer and others.
