ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Apollo Hospitals share price falls 3% after poor Q1 results – what should investors know?
  • Instagram users ALERT! Are you being tracked by Meta-owned platform?
  • Syrma SGS Technology IPO subscription opens today: Check price band, allotment and listing date
  • BMW M4 Competition Coupe 50 Jahre M Edition launched in India: Check price and specifications
  • Atal Pension Yojana Income Tax benefit for salaried employees after new rule: All you need to know
Read in App
Business News » Personal Finance News

Here's how you can do cash deposits at ATMs, but remember these daily limit and charges

For those who are not familiar with the cash deposit machine, can always choose to opt for traditional method at banks.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Here's how you can do cash deposits at ATMs, but remember these daily limit and charges
Be it a third party person or yourself, majority of banks levy service charge on the money you put in a bank account. Image source: Pixabay

Cash deposits are the most traditional and popular way of adding money in your bank account or someone else's. With the advancement in technology, the move has definitely become quite easier, in fact, banks have also launched their own machine in various branches where a customer does not even need to fill a piece of paper. This is more of a digital pattern called as Cash Deposit Machine (CDM). However, for those who are not familiar with cash deposit machine, can always choose to opt for traditional method at banks. But either be a third party person or yourself, majority of banks levy service charge on the money you put in a bank account.

Here’s how you can do a cash deposit using machine!
The method is similar like removing money from an Automated Teller Machine (ATM). Only difference is that in CDM you send cash and not receive. Majority of banks have launched their own CDM either in their branch or in the ATM near it. The procedure differs from bank to bank. 

For example, some banks will ask you to insert your debit card and PIN number for authentication. After this, an option like savings or current account will be asked. A box will open once you confirm your account type, add the money you plan to deposit. The machine will then present details of your denomination, if correct then confirm for successful transaction. Make sure to take the receipt as a proof. Deposits can be made in denominations like Rs 100, Rs 200, Rs 500 and Rs 2,000, and in some cases also Rs 50 is allowed. 

Second procedure is where you will be asked to feed in details of just your bank account. Visit your banks CDM, select the option of money deposit, you will be asked to add your bank account number. Once added, select confirm and a page displaying your name will be shown. Once confirm that, add the money in the box. After sometime, you will shown the details of denomination and amount value. Select confirm and collect your receipt. Almost immediately you receive the message of credit. 

However, to do so, you should also know there are a host of charges levied on carrying CDM transaction. Let’s compare SBI vs ICICI Bank vs PNB.

State Bank of India!
For cash deposit made at machine, then Rs 22 plus GST each is levied on using debit card to third party account, cardless transactions, SME and Business debit card. There are no charges for debit card to card linked account cash deposits. 

ICICI Bank!
There are no charges for the first cash deposit of a calendar month at the CDM. Thereafter, Rs 5 per thousand subject to minimum Rs 150 is levied. 

Punjab National Bank!
PNBs service charge on CDMs is more cumulative.  If CDM used at base branch, then up to Rs 2 lakh cash deposit per day is free. However, if above Rs 2 lakh per day, then Rs 1 per thousand is levied. Similarly, CDM used at all branches within the same city other than base branc, Rs 5,000 cash deposit per day is free of cost. But above Rs 5,000 will attract a fee of Re 1 per thousand minimum Rs 25 per transaction. 

In case, CDM used at outstation non-base branches, then Rs 5,000 per day is free. While if limit exhausted, then Rs 2 per thousand subject to minimum Rs 25 per transaction will be levied.  Hence, remember the above mentioned limit on your cash deposits at machine. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
ATM
Written By: ZeeBiz WebTeam
Updated: Wed, May 08, 2019
07:51 am
ZeeBiz WebDesk
RELATED NEWS
Delhi ATM Theft: Fled with cash tray containing over Rs 6 lakh - No guard! Delhi ATM Theft: Fled with cash tray containing over Rs 6 lakh - No guard!
NPCI chief Dilip Asbe explains when cash usage will come down NPCI chief Dilip Asbe explains when cash usage will come down
SBI home loan, gold hallmarking to UPI ATM cash withdrawal — 5 big changes that came into effect on June 1 SBI home loan, gold hallmarking to UPI ATM cash withdrawal — 5 big changes that came into effect on June 1
RBI New Rule: Customers can withdraw money from any ATM without card RBI New Rule: Customers can withdraw money from any ATM without card
How to use SBI OTP-based cash withdrawal from ATMs? See full process here How to use SBI OTP-based cash withdrawal from ATMs? See full process here

LATEST NEWS

Rakesh Jhunjhunwala portfolio stock: This Tata Group company's share hits 5-month high – brokerages recommend this

Instagram users ALERT! Are you being tracked by Meta-owned platform?

7th Pay Commission Central government employees latest news: DA formula changed – know how it will impact your salary

Apple iPhone 14 launch - Big development! Check latest updates, expected release date and price

International Youth Day 2022 theme, quotes and history - Tackling issues and achieving sustainable development together

Syrma SGS Technology IPO: Issue opens on Friday; from price band to full timeline, all you need to know

Full Moon Super Moon August 2022: When and where to watch Sturgeon Supermoon - Timing of last Supermoon of 2022

Closing Bell: Sensex surges over 500 points, Nifty50 above 17650 – IT, Bank and Financial stocks support market most

Apple iPhone 14 Pro Max, iPhone 14 Pro likely to be expensive than iPhone 13 Pro models - All you need to know

Raksha Bandhan 2022 correct, best date and time: Rakhi on 11 Aug vs 12 Aug? Today? Tomorrow? Shubh Muhurat, benefits, harms - All confusion cleared

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV