General Guidelines

  • Processing Time: Fund transfers may take up to 7 business days to complete.

  • Fees: Kotak Bank imposes a flat fee of ₹1,000 per outward remittance transaction. This charge is levied solely by the bank and is outside of our control or any kind of revenue share.

  • Accuracy of Input: Strict adherence to the step-by-step guidance is mandatory, as the Kotak Bank interface requires multiple user inputs. Any inaccuracies in data entry may result in transaction rejection.

  • Post-Transaction Completion (Kotak Platform):

    • The user must record or copy the unique transaction reference number provided.

    • Users are required to manually click the "back" button located in the top-left corner of the interface to return to our platform, as automatic redirection is not supported.

  • Platform Reconciliation: Upon navigating back to our platform, the user must input the transaction reference number obtained from the bank.

  • Technical Issues: If the Kotak Portal encounters technical issues, the user should exit the session and attempt the transaction later.

  • Status Updates: Progress tracking within the Kotak flow is often manual and operations-intensive, which may lead to delays. The final transaction acceptance status will be updated within a maximum of 72 hours.


Step-by-Step Flow for Kotak Bank

  1. Authentication: Log in to the Kotak Bank platform using netbanking credentials.

  2. Receiving Country: Select ‘GIFT City India’.

  3. Receiving Currency: Select USD.

  4. Beneficiary Selection:

    1. New Beneficiary: Select NEW. When adding beneficiary details, select Glomo as the receiver partner.

    2. Repeat Transfer: Select GLOMO and proceed.

  5. Purpose of Remittance: Select 'Portfolio Investment in Equity Shares'.

  6. Amount Confirmation: Enter the transfer amount, ensuring it matches the previously imputed amount exactly, including any decimals.

  7. Source of Funds/Income Proof: Upload one of the following documents:

    1. Latest Income Tax Return (ITR) Acknowledgement.

    2. 12-month bank statement (dated as of today) from a bank other than Kotak.

  8. Initiate Transfer: Click Send Money.

  9. Sender Details: Skip the sender details section by leaving all fields empty and clicking continue.

  10. Terms and Conditions (T&Cs) Acceptance: Accept all three required T&Cs.

    1. The second T&C will trigger a pop-up window; click accept within this window.

    2. The third T&C will display the Portfolio Investment Form for user consent. On this form, select the option 'investment in listed companies overseas through overseas broker'.

  11. Return to Platform: Click the back button to return to the Tickertape interface.

  12. Reference Number Entry: Input the transaction reference number previously recorded.

  13. Flow Completion: Exit the remittance flow.