Most of us are not aware about portals which makes both deposits and payment transaction in cash easy and flexible way, therefore we end up standing in long queues at banks.

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The facility provided with Cash Deposit Machines (CDM) however comes very handy. Both state-owned and private banks like SBI, HDFC Bank, Kotak Mahindra Bank, Yes Bank, Union Bank of India, ICICI Bank, Axis Bank and Standard Chartered Bank, etc offer this facility to their customer.

Due to lack of awareness or scared of using it due to data breach fear, people in general or senior citizens usually prefer queues for making deposits or payment at their bank.

CDM are self-service terminal installed at ATMs which allow you to make deposits and payment transactions anytime. This machine is also installed inside bank branch and can be used during regular working hours.

How does it work?

To make a transaction via CDM, all you need to know is your debit card or bank account number. Some CDMs allow you to swipe your debit card for transaction, while some use manual data like account numbers.

For confirmation, the machine will either ask account number before depositing the currency notes or will ask debit card PIN number, depending upon the method used for transaction.

Customers receive an advice slip confirming completion of the transaction.

Deposit without debit card:

CDM has an option called as "deposit without card" for customers. Once you select this option, the machine will ask you to enter your bank account number.

After entering bank account number, just add the amount you wish to deposit. The next step would be to confirm the amount mentioned.

As the transaction is carried without debit card, you will  have to place the cash in the deposit slot and let the machine take it in.

After taking in the cash, the machine displays the currency denominations received on the screen. You will then receive a confirmation slip for the completion of your transaction.

Deposits with Debit card:

The process is similar to how you use debit card for withdrawing cash. All you need to do is to insert your card into a CDM portal.

The second process would be to enter your PIN number for carrying the transaction process ahead.

Once PIN number inserted, the machine will ask you to enter the amount you wish to deposit in your account. Similarly, you will be asked to confirm the amount on the machine.

Compared to bank account number, transactions becomes even more easier with ATM card as the machine does not ask for deposit slot.  After confirming the amount, you will receive a slip stating that the transaction has taken place successfully.

Transaction limit to deposit money is different from bank to bank. However, one can deposit minimum up to Rs 100 and a maximum amount of Rs 49,900 per transaction. CDM will accept all currency notes in multiples of Rs 100 up to Rs 2,000.

Procedure are the same for even transferring money using this machine. However, in case you don't have debit card all you need to know is the account numbers you wish to transfer the money to.