HomeBANKINGWhat is SBI Cash Deposit Machine, and how does it work?

What is SBI Cash Deposit Machine, and how does it work?

SBI Deposit Machine| SBI Cash Deposit Machine| Automated Deposit cum Withdrawal Machine| ADWM

SBI Cash Deposit Machine:– Currently, digital instruments are increasing rapidly in the banking system. Earlier, there was a long queue in the bank to deposit cash. Still, today with the help of technology, a Cash Deposit Machine has been invented, with the help of which you can quickly deposit cash at the ATM center itself. This device is called Cash Deposit Machine or Automated Deposit cum Withdrawal Machine (ADWM).

It is a machine like an ATM that provides you the facility of a direct cash deposit in your account with the help of an ATM cum Debit card. You can deposit money in your account instantly without visiting any bank branch. Through a cash deposit machine, you can not only deposit money in your bank account, but you can also deposit money in your PPF, RD, or loan account.

SBI Cash Deposit Machine

Keeping in mind its customers, the State Bank of India has installed SBI Cash Deposit Machines at various SBI ATMs. You can make cash deposits and avail other services like cash withdrawal, ATM PIN change, balance enquiry, mini statement of account, YONO cash, Green PIN generation, etc., through the SBI Deposit Machine set up by SBI Bank.

SBI Deposit Machine Silent Features

State Bank of India has set up SBI Deposit Machines for its customers. SBI Cash Deposit Machine has the following silent features:-

  • Cash is instantly deposited in your bank account, and the information will be received through SMS on the registered mobile number.
  • SBI Deposit Machine is an easy way to deposit money instantly.
  • SBI Cash Deposit Machine promotes paperless transactions.
  • You can deposit Rs.49,900/- on SBI Cash Deposit Machine without any reason.
  • Using a debit card, you can deposit up to ₹ 200000 through this machine.
  • For depositing ₹ 50000 or more, your account must be linked with a PAN card.
  • With the help of the SBI Deposit Machine, you can deposit money in your bank account and PPF, RD, and loan account.
  • SBI deposit machines accept only 200 currency notes in a single transaction.
  • This SBI Cash Deposit Machine accepts notes of Rs.100/-, Rs.200/-, Rs.500/- & Rs.2000/- only.

Other Services Available on SBI Deposit Machine

Cash Withdrawal:– SBI Deposit Machine also facilitates the users to withdraw money from the account of SBI Bank and other banks.

ATM PIN Change: SBI Cash Deposit Machine also provides you the facility to change your password from time to time. Keep in mind that you should keep changing your password at regular intervals as per the instructions of the Reserve Bank of India. You can avail of this service to change your SBI Debit Card PIN.

Balance Enquiry: SBI Cash Deposit Machine also provides you the facility to check the balance deposited in your bank account. Through this machine, you can get information about every transaction in your account. If you want to know the balance in your SBI bank account, follow the steps below.

  • First, swipe the card on the SBI Cash Deposit machine.
  • Major options will appear on the screen after the card swipe.
  • Then select the View option.
  • Keep in mind that you can also select the “Go Green” option here.
  • Your account balance will be displayed on the screen.
  • You can get the receipt by selecting the Print option to print out the displayed information.

SBI Account Mini Statement: SBI Bank also provides the facility to the consumers to get mini statements of bank accounts through SBI Deposit Machine. By availing of this service, you can keep track of the transactions in your account. Keep in mind that through the SBI Mini Statement service, you can get your bank account’s last ten transaction details.

Green PIN Generation: Nowadays, Green PIN is being used very fast in the banking system. The banking system has used Green PIN technology to avoid Internet banking frauds. You can also generate your Green PIN for Debit or Credit Card from SBI Cash Deposit Machine.

YONO Cash facility: SBI Bank customers can make cardless cash withdrawals up to ₹20,000/- under the YONO Cash facility from their account through SBI deposit machines.

How to Deposit Cash on SBI Cash Deposit Machine?

You do not need to go to any branch to deposit cash, and SBI Bank has provided ATM and Cash Deposit Machine facilities to its customers. If you also want to deposit some money in the nearest SBI Cash Deposit Machine, follow the steps below.

  • First of all, locate your nearest SBI Cash Deposit Machine location from the official website of SBI Finder.
  • Access the SBI Cash Deposit Machine and insert your Debit Card into the CDM Machine.
  • Select Banking from the significant options that appear on the screen.
  • Select your preferred language from the available languages ​​and click on the Next button.
  • Enter your Debit Card PIN in the provided field.
  • Click on the Cash Deposit option from the options that appear on the monitor screen.
  • Some valuable guidelines will be displayed for depositing by machine, which must be followed.
  • Keep in mind that you cannot deposit more than 200 notes at a time, and the maximum cash amount should not exceed 49900.
  • After reading the directions thoroughly, click on the confirm button.
  • Select your account type, either Savings Account or Current Account, from the available options.
  • Select the denomination of 100, 500, 2000 notes.
  • The Cash Deposit Shutter of the SBI Cash Deposit Machine will open.
  • Put the excellent condition notes inside the sweater and press the enter button.
  • The hair shutter will close, and the machine will check your notes.
  • The data regarding the amount to be deposited will appear on the screen once the money you enter is verified.
  • If there is any torn in your notes, then the shutter of the screen will open. Where to take back the wrong note.
  • Confirm if the amount deposited by you is by the figures shown on the screen.
  • Your amount will be credited as soon as you confirm, and the machine will issue a receipt in this regard.

SBI Cash Deposit Machine Service Charges on Cash Deposit.

The following service charges are being levied by the State Bank of India on cash deposits through CDM/State Bank Cash Points with effect from October 1, 2015:

Deposit TypeProposed Fee
P-Segment Debit Card, i.e., Bank Account Linked Debit CardNo fee is charged
Third-Party Account Debit CardRupee. 22/-+GST
cardless transactionsRupee. 22/-+GST
SME Insta Deposit Card / Business Debit CardRupee. 22/-+GST
GRC Card (SBIGreen Remit Card)Rupee. 22/-+GST

How to get the nearest SBI Cash Deposit Machine information?

You often visit the concerned bank branch to get the cash deposited. Do you have a bank account with the State Bank of India? Do you know where the SBI Cash Deposit Machine is located on any street near you? It doesn’t matter if you don’t remember the exact location of the SBI cash deposit. Now you can find out about your nearest SBI Cash Deposit Machine online through a few steps. Follow the steps given below to locate the nearest SBI Deposit Machine.

  • First of all, go to the official website of the State Bank of India.
  • Location sign will appear on the bottom right side of the home page.
  • Click on “Location Sign” and click on the ‘ATM Locator’ link.
SBI-Cash-Deposit-Machine
  • On clicking this link, a popup window will open where you click on the “Proceed” button.
  • You will be redirected to the official website of SBI finder.
  • A new page will open to select the ‘Cash Recycler’ option from ATM, Cash Recycler, Branch, Cash@CSP under the Select Category section.
  • Increase the radius in the area where you want to see SBI Cash Deposit Machine.
  • Enter your nearest address. The location of the SBI Cash Deposit Machine will be visible on your screen nearby.

Closing Observations

Various banks have taken care of their customers’ problems; the banking system has used new techniques. These technologies also include automatic cash deposit machines. SBI Cash Deposit Machine has been introduced in SBI Bank, with the help of which the consumer can deposit cash in his account without going to the bank branch. The consumer can deposit some money in his account and avail other services like cash withdrawal, ATM pin change, balance enquiry, mini statement of account, YONO cash, generate green pin, etc. What is from a consumer point of view is a very useful machine.

Guru
Guruhttps://paisaproblem.com/
I am student and part time blogger. I am interest to share my views on financial issues.
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