Cash Deposit Machine (CDM)
The Karur Vysya Bank Ltd. now offers yet another service to its customers through Cash deposit machine. Cash Deposit Machine is an electronic machine (like ATM) which has the capability of identifying, counting and detecting Indian Currency Notes. 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.
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.1000, Rs.500, Rs.100 & Rs.50 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 180 Notes on the above denominations at a time.
- Maximum Cash Remittance Limit – Rs.49,950 without PAN Number and Rs.2.00 lac with PAN Details
- 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
- After processing the notes, system will display the total amount with denomination details in the screen and ask confirmation from the customer. If the customer does not want to confirm the same and selects the cancel mode, system will reject entire notes by opening the currency box and the customer has to pick up the cash immediately.
- 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).