Deposit Cash in a CDM machine: The bank account is one of the basic things which we all have. Everyone opens a bank account these days, in India, even the high school students can open the account in most of the banks. The banks are allowing the students to open the bank account to make them understand about the bank and their working. Well now tell me what did you do as soon as you opened the bank account? You deposited the money in your bank account and that’s quite obvious too. Because while we open the account bank’s ask us to deposit some amount of money.
There are a number of reasons why people open the account. But in most of the cases, we do that to receive the salary directly to the bank from the company or organization for which we are working. And the second and the major reason is to keep the money or deposit the money we have with us. Because depositing the money in the bank account is much safer when compared to keeping the money with us. Not only these we get access to some of the amazing features like ATM card services, mobile banking, and internet banking.
But if you want to use all these features then you should have money in your bank account. And today in this guide we will discuss the depositing money in the bank account.
The basic method to deposit the money in bank account is by visiting the home branch. You can not only deposit it from the home branch but any of their branches across India.
But if you visit the home branch to deposit the money into your bank account. You have to fill the deposit form and stand in the queue at the cash counter.
It sounds time-consuming, right?
Yes, it is a time-consuming process so is there any other method by which you can deposit money in your bank account?
So yes, there is an alternate method by which you can deposit money in your bank account. And that is with the help of CDM machine or Cash deposit machine.
I will tell you the complete procedure which you need to follow to deposit cash in a CDM machine. The process is very simple it will hardly take 2 minutes of time to deposit cash in a CDM machine.
What is a CDM or Cash Deposit Machine?
Before we proceed to the further part of this guide, I would like to tell you what exactly a CDM or Cash Deposit Machine is.
This is a machine which is owned by the banks, you can find these machines in the branches of the bank and in the ATM centers.
This machine looks like ATM machine which lets you withdraw the money from your bank account.
But here you should note one thing. And that is you can’t deposit money through a normal ATM machine. But you can withdraw and deposit money through cash deposit machine.
I have used Cash Deposit Machine or CDM machine of State Bank of India that machines let us withdraw the money too.
How to Locate Cash Deposit Machine Near You?
Many banks have cash deposit machines these days you can easily locate the CDM machine near you by contacting your bank.
You can visit our home branch for this info either call the customer care of the bank. They will tell you about the nearby Cash Deposit Machines near you.
Some banks like State Bank of India lets their customers locate the nearby cash deposit machine from their official website as well.
Features and Benefits of Cash Deposit Machine
There are many features and benefits of Cash Deposit Machines I have listed some of the features and benefits below.
- There is no need to visit your home branch to deposit money in your bank account.
- You can not only deposit cash but also withdraw it with the help of CDM machine.
- You can access the CDM machine 24×7 anytime of the day even on a holiday.
- No need to fill any of the forms etc. to deposit your money.
- When you use the CDM machine to deposit money the money is credited instantly to your bank account.
- You can access all the basic features which you can use in a normal ATM machine. Like updating mobile number, linking of Aadhaar card.
- And much more.
Dealing with Cash Deposit Machine, How to Deposit Cash in a CDM Machine?
So now let us get started with this guide and check out how you can deposit cash in a CDM machine. But while we proceed to the further part of this guide I would like to tell you the things you should keep in mind while using CDM machine.
- Most of the CDM machines in our country allow us to deposit Rs. 49,900.
- You can deposit only 200 notes at a time in the machine.
- You should have your ATM card with you to deposit cash in a CDM machine.
- Not only ATM card but even pin number of your card is important.
Let us now learn how we can deposit cash in a CDM machine, I have mentioned the steps below.
- Find the cash deposit machine which is near to your location and is owned by your bank.
- Insert your ATM card into the machine.
- Enter your ATM PIN number into the machine.
- Go through the options shown to you on the screen. The option selection changes from bank to bank.
- Select Cash Deposit option of the machine.
- Keep the money in the cash space in the machine.
- The CDM machine will not count the money you have kept in the cash space.
- The summary of the cash will be displayed to you on the screen.
- Accept the transaction if the amount of money displayed is correct.
- And finally, collect your transaction receipt from the machine.
So this is all about the Cash Deposit Machine and the procedure to deposit cash in a CDM machine. I hope you are clear with all the information mentioned here. If you have any kind of doubts in your mind then you can comment down below.