Cash Deposit Machine | How to find and use Cash Deposit Machine (CDM)?
You can use cash deposit machine to deposit cash instantly into your bank account using your debit card or your bank account number. Many banks have installed Cash Deposit Machine on their bank premises.
At some places, banks have installed the cash deposit machines inside the ATMs for the convenience of the customers. But there is a basic difference between ATM and CDM. ATM dispenses cash whereas the CDM takes your cash to deposit in your bank account.
Some salient features of the Cash Deposit Machine (CDM)
Following are the features of the Cash Deposit Machine (CDM):
1. Instant credit of cash in your account.
2. No need to fill deposit slips i.e. paperless transaction.
3. No requirement to sort your cash currency as per denomination.
4. A quick way of depositing
money.
5. The maximum limit per transaction is Rs. 49900/-
6. You can deposit 100, 500 & 2000 Rupee notes.
7. You will get a confirmation receipt.
8. No need to stand in long queues.
How to deposit cash in Cash Deposit Machine (CDM)?
Cash Deposit Machine (CDM) is very easy to use. Some Cash Deposit
Machine (CDM) allows you to deposit cash
using your debit card while others also allow you to deposit cash using your bank
account number.
Deposit money in Cash Deposit Machine (CDM) using debit card
1. Visit the nearest Cash Deposit Machine (CDM).
2. Insert your debit card in the Cash Deposit Machine (CDM) as you do in
your ATM machine.
3. Enter your debit card PIN number for validation.
4. Select the option “Deposit Cash” from the various options on the
screen.
5. Choose your account type i.e. saving account or current account.
6. Keep the money in the cash deposit slot and click on “Continue”.
7. Cash Deposit Machine will check the money and display the amount of
money which you have kept inside the cash deposit slot.
8. If figures are correct then click on deposit.
9. Your amount will be deposited in your account.
10. You will receive a confirmation receipt.
Deposit money in Cash Deposit Machine (CDM) by entering account number
1. Visit the nearest Cash Deposit Machine (CDM).
2. Click on “Cash deposit without card” option.
3. Enter your account number in which you want to deposit cash.
4. CDM will display the account holder’s name.
5. If the name is correct, click on “Enter”.
6. Keep the money in the cash deposit slot.
7. Cash Deposit Machine will check the money and display the amount of
money which you have kept inside the cash deposit slot.
8. If figures are correct then click on deposit.
9. Your amount will be deposited in your account.
10. You will receive a confirmation receipt.
How to find a Cash Deposit Machine (CDM) near you?
Cash Deposit Machines are not available at all the branches of the
banks. But you can find a cash deposit machine in your area by using Google
Map. Search for “Cash Deposit Machines near me” in Google Map as shown in the image.
Make sure your device location is turned on. It will show all the CDMs near you on the screen.
Make sure your device location is turned on. It will show all the CDMs near you on the screen.
Some Banks Cash Deposit Machine (CDM) locator links are given below
Hope now you will be able to find a cash deposit machine (CDM) near you
for depositing cash in your bank account without waiting in long queues at the
cashier’s counter at the bank.
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Cash deposit machine is good to save time but the problem is (so far i have experienced) just like ATM you cant deposit money anytime, you have to avail the banking hours.
ReplyDeleteDid not know that machines can be searched via google,will try for sure.