What is Cash Deposit Machine And its Benefits
Cash Deposit Machine (CDM) will look like an Automatic Teller Machine (ATM), but both have different functionalities. In CDM you can deposit money without interaction of humans like a counter. So, instead of waiting in the longer queue, you can deposit money into your bank account or send money to any Bank Branches in India with the help of CDM. The other advantage of CDM is no need to fill any slip for a deposit and no need to search bank by ifsc code to send money.
Benefits of Cash Deposit Machine
Lot’s of people get benefited by using Cash Deposit Machine (CDM). If you want to send money to your beneficiary without IFSC Code, it is possible with CDM. It is the great milestone in the banking sector.
It will credit instantly to bank accounts and no need to arrange your cash for deposit. Even some places CDM available in outside of the bank so you can use it even bank holidays. It will provide an immediate receipt for the transaction.
How to Use it
- It is very simple to use, If you want to deposit money to own account you need a debit card for that particular account. Else you can choose the option “Deposit without card” but, you must remember your account number for using this option.
- Select the option “Deposit without card” and Enter your account Number then CDM will show you the account holder name if it is correct then press “Confirm” button.
Note: - If you have a debit card, insert it and enter the PIN for Verification. CDM will show you the account holder name after, your PIN has verified. If it shows the right account holder name, then press ”Confirm” button.
3.Select the account type from displayed list and place your money in the given slot and press “Continue.”
4.CDM will arrange the money & show the denomination. If everything is correct, then click the “Deposit” Button.
5.Instantly the acknowledgment receipt will be generated. You can collect and exit.