State Bank of India (SBI), the country's largest lender, offers many services to its customers. One such is Cash Deposit Machine (CDM), where you can deposit cash without visiting the bank's branch. It is an ATM-like machine
that allows you to deposit cash directly into your account using the ATM cum debit card.
that allows you to deposit cash directly into your account using the ATM cum debit card.
This machine can be used to instantly credit your account without visiting the branch. The transaction receipt also gives your updated account balance.
Here is all you need to know about SBI Cash Deposit Machine-
1. SBI CDM offers instant credit of cash deposit into your own account
2. It offers paperless transaction and is a quick and convenient way to deposit cash
3. In this per transaction limit is Rs 49,900 for cardless deposit and through debit cards, it is Rs 2 lakh (subject to account has PAN number).
4. You can even deposit cash in your public provident fund (PPF), recurring deposit (RD) and loan accounts
5. It may be noted that up to 200 currency notes can be deposited in a single transaction.
6. The CDM only accepts denominations of Rs 100, Rs 500 and Rs 2000.
Facilities available on SBI CDM-
1. Cash Withdrawal- One can even withdraw cash through this machine of SBI as well as of other banks accounts.
2. PIN change- With this service, you can change your password at regular intervals.
3. Balance Enquiry- 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 view option as the balance is displayed on the screen or else get a transaction receipt by selecting print.
4. Mini Statement of Account- You can keep a track of your transactions in your account. It gives you an insight into the last 10 transactions in your account.
