Cash Recycler machine

The Karur Vysya Bank Ltd. now offers yet another service to its customers through Cash Recyclers. Cash Recycler is an electronic machine (like ATM) which has the capability of identifying, counting and detecting Indian Currency Notes. These machines can be used for Cash Deposit and Cash withdrawal.

This machine accepts genuine and fit Indian Currencies and rejects deeply cut, soiled and fake or suspicious notes. The electronic device is connected to our core banking data base which enable on line credit to the account Holder.

 

Features:

There are four ways to use this product:

  • Customers can deposit cash for their running accounts such as Current/Savings/RD/Cash Credit/Overdraft accounts.
  • Denominations of Rs.2000, Rs.500, Rs.100 can be deposited in this machine
  • Customer has to enter the 16 Digit account number or insert the ATM card or BNA remittance card for depositing the cash in the CDM.
  • Maximum Cash Remittance Limit – Rs.49,900 without PAN Number. No ceiling limit for cash remittance for account with PAN Details subject to maximum of per transaction Rs.2.00 lac.
  • Currencies without bundling should be placed. Bundling with twine or Rubber Band with affect the functioning of the machine.
  • Folded / Soiled / Cut notes will be rejected by the machine
  • Instant credit to the account and SMS alert will be sent to the registered mobile number of the account holder.
  • There is no charge for using ‘CDM’, however system will include cash transactions which are happening through ‘CDM’ for arriving cash remittance charges as applicable for the type of account.
  • BNA Cash remittance card can be collected from the customer’s KVB parent branch (Account holding Branch).
  • Apart from the Cash deposit facility this cash recycler can also be used for cash withdrawals.
  • Cash deposit can be done only by the KVB customers and Cash withdrawal can be all bank customers.

 

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