Kotak Mahindra Bank Virtual Credit Card

Kotak Netc@rd Features and Benefits Eligibility for Kotak Netc@rd Fee and Charges How to generate Kotak Virtual Card? Virtual Credit Card vs. Physical Credit Card Compare Similar Virtual Cards Kotak Virtual Card FAQs

The unique features and significant benefits of the Kotak Netc@rd are listed below. Also, the card is a one-time use virtual credit card that can be created from your primary credit card to shop online.

Features & Benefits of Kotak Netc@rd

The actual debit card number is never exposed in the online transactions. Hence the risk of theft or fraud is minimal Netc@rd is valid for a maximum period of 48 hours The card can be used at any merchant website that accepts Visa cards The card cannot be used again after a successful transaction There is no fee levied for the creation of Netc@rd Nets@fe is a unique payment service that offers complete security while shopping online  After the transaction, the available amount on the card is transferred back to your account and the card ceases to exist

To make the service accessible to the majority of the people and to offer convenience, Kotak Mahindra Bank has set the following eligibility criteria-

• You should be Resident Indian / NRE / Foreign National
• You should be registered for the net banking channel
• Have at least 1 valid current or savings account with the bank to which you should have operating rights
• Have an existing Kotak Mahindra Bank Credit Card

The bank has set a maximum and minimum limit for card generation which is subject to change from time to time. The minimum limit is Rs.100 while the maximum is set to Rs.50,000 per day, irrespective of the number of cards generated. Presently the facility is being provided to you free of cost.

The card can be easily generated by the use of net banking. Follow the below listed steps to generate Kotak Netc@rd online-

Step 1- Visit the official website of Kotak Mahindra Bank.

Step 2- Log into net banking using your Login ID (CRN) and Password.

Step 3- Click on the ‘Netc@rd’ tab and proceed further.

Step 4- You will receive an OTP on your registered mobile number

Step 5- Enter the OTP and select the account from which you wish to withdraw funds for creating Netc@rd.

Step 6- Click on ‘Ok’ to generate your Netc@rd.

Step 7- After successful verification, you can use the card for online transaction.

Before going for a virtual credit card, you should know the difference between the virtual and physical credit cards. The virtual cards are safer when compared to physical credit cards, but there are certain limitations associated with them. Mentioned below are some of the significant differences between the two.

Virtual Credit Card	Physical Credit Card
Can only be used to pay online and not at Point-of-Sale purchases	Can be used for both online and offline transactions
Generally no interest-free period is given with this card	You can enjoy the interest-free period with this card (generally ranging up to 50 days)
Generally valid for a maximum period of 48 hours	Generally expire after a few years from the date of issuance
In majority of cards you do not avail reward points or cashback on using them	Reward points as well as cashback can be earned using physical credit cards
It does not help in building your credit score	This card surely helps in building your credit score
Cannot be used at any place where you have to show your card	Can be used at places where you need to show your card
Most of the cards allow you to make only 1 transaction	You can make any number of transactions using your physical credit card

The below given table contains comparison of different virtual cards provided by varied banks in India on the basis of their primary feature and fee levied. Compare the different cards and then opt for the one best suited for you.

Virtual Credit Card	Annual Fee	Primary Feature
Kotak Mahindra Bank Netc@rd	Nil	It is universally accepted and you can shop on any website that accepts Visa Cards
HDFC NetSafe	Nil	You can use it on any merchant website that accepts Visa / Mastercard Credit Cards
SBI Corporate Virtual Credit Card	Nil	The card has a customized validity and hence is valid for single / multi use
ICICI Bank Virtual Credit Card	Nil	You can change the maximum limit on your VCC within overall limit of your primary card
Axis Bank FreeCharge Credit Card	Rs.250 + taxes	Exceptional virtual credit card where you can earn reward points on your purchase
HSBC Advantage Virtual Card	Nil	You can set your card’s limit on the purchase you wish to do and reset it again

Can I use Kotak Netc@rd at all websites?

You can only use your card at websites that accept Visa cards as a payment option.

How can I cancel my Kotak Netc@rd?

Follow the below listed steps for cancellation-

• Log into Kotak Mahindra Bank’s Net-Banking using your User ID and Password
• Click on “netc@rd” tab, and select “Cancel netc@rd” from the menu option
• From the list of all netc@rds, select netc@rd that you want to cancel
• Click on the “Cancel Card”  option.

It is to be noted that only those cards that have never been used can be cancelled.

Is there an Annual Fee for the Kotak Mahindra Bank Netc@rd?

No, this facility is currently being provided to you free of charge.

Can I withdraw cash using my Netc@rd?

No, the Netc@rd can only be used to make online payments at websites that accept Visa range of cards.

Can I renew or reuse my Netc@rd?

No, the Netc@rd can only be funded once at the time of its creation and cannot be renewed after its expiry.