The Cash Deposit Machine (CDM) is a self-service terminal through which you can make deposits and payment transactions by cash.
You don't need to queues at your bank for depositing money to your account. All you need is to visit your nearest ATM if you want to deposit money in your account. ATM Transaction Failure: Know What You Should Do?
The best thing about CDM is that you can deposit money round the clock because these machines are installed in ATMs. CDM offers instant cash deposit credit to your accountIt offers a paperless transaction and is a fast and convenient way to deposit moneyWithin this limit per transaction is Rs 49,900 for deposit without the card and by debit card, it is Rs 2 lakh (provided that the account has the PAN number).You can even deposit cash in your public provident fund (PPF), your recurring security deposits (RD) and your loan accountsIt should be noted that up to 200 banknotes can be deposited in a single transaction.
How to deposit money without a Debit Card into the CDM?
You can deposit money into your account using CDM without debit card. Know how to do it:
- Walking to the nearest CDM and check for the option ‘cardless deposit' on the CDM and select it.
- After selecting the option, the machine will ask you to enter your bank account number.
- Enter your bank account number; then you press the amount you wish to deposit and confirm the amount.
- You have to place the cash in the deposit slot and let the machine take it in because you are not using debit card here.
- The CDM accepts Rs 100, Rs 500 and Rs2000 denominations only.
- The machine will take the money, and it will display the currency denominations received on the screen also.
- The depositor will get a confirmation slip for the completion of the transaction.
If you want to make payments to different accounts, you can do it via CDM. You need to follow the same steps. But it is important to note that you need to know the account numbers you wish to transfer the money to. Top 16 Things You Can Do At An ATM
The transaction limit to deposit money in CDMs varies from bank to bank. The minimum amount that can you deposit is Rs. 100 and the maximum amount is below Rs 49900. The cash deposit machine will accept all currency notes in multiples of Rs. 100 up to Rs. 2,000. What Is SBI Fast Cash Withdrawal? How To Use Fast Cash Through SBI ATM?
Installations are available on SBI CDM-
1. Cash withdrawal - One can even withdraw cash via this machine from SBI as well as other bank accounts.
2. Change PIN - With this service, you can change your password at regular intervals.
3. Balance request - Using this service, you can check the current available balance in your account. This option is available on the main options screen after swiping your card. You can even select "Go Green" by choosing the display option when the balance is displayed on the screen, or obtain a transaction receipt by selecting Print.
4. Mini statement - You can keep track of your transactions in your account. It gives you an overview of the last 10 transactions on your account.