SBI Launches Cash Deposit Machine in SBI Main Branch, Hyderabad

Cash Deposit Machines

SBI Launches Cash Deposit Machine in SBI Main Branch, Hyderabad

SBI Launches Cash Deposit Machine in SBI Main Branch, Hyderabad

Hyderabad: SBI launched the cash deposit machines that requires no assistance of the staff.  Customers can deposit their money at any time.  Till now these cash deposit machines are set up in 27 branches across Andhra Pradesh.  SBI General Manager Sekhar Srivatsava informed that the number of cash deposit machines will be increased to 69 by the end of December, 2012.

The cash deposit machines setup by State Bank of India help to provide paperless services to customers.  State Bank of India is always ready to introduce things that are eco-friendly, said the General Manager of SBI.  He launched the cash deposit machine in SBI head quarters in Hyderabad on 4th December, 2012.

Using the cash deposit machines, the customers can deposit their money all around twenty four hours.  These machines can be utilized through ATM debit card of SBI, SME Iniesta deposit card, Green remit card.  Customers can deposit a maximum 200 notes or a maximum of Rs. 49,900.

State Bank of India is adopting technology aided strategies and installing cash deposit machines is part of this.  With the response, the cash deposit machines are receiving, SBI is proposing to install more than 600 machines all across the country.  Presently it has 135 machines across India.  Customers are using these machines to deposit money up to Rs. 3 crores. Cost of each machine is Rs. 9 lakhs.

Customers who deposit money in the cash deposit machines will get alert on their phone confirming the credit. While depositing money in the machines, the customers need to punch their account numbers and mobile numbers.  The machine itself counts the notes and a receipt will also can be obtained.  The cash deposit machines are linked to the banking network and the money will be credited to the customer’s account immediately. With the response the cash deposit machines are getting with the customers, it can be said the cash deposit machines are here to stay.