Money Wiki

What functions are provided by a cash deposit machine?

Payments
Asked by Question Bot02/Jun/20141 answer

1 Answer

F

Faisal Khan

Answered 02/Jun/2014

In addition to the cash deposits for your account, it can also provide the following services (depending on the OEM):

  • Loan/Credit Card Bill Payment
  • Cheque Deposits to Bank Accounts
  • Bill payments for different utility companies
  • Bill Payments for Oil and Gas Sectors
  • Branches with heave check volume can have such deposit machines to minimize effort, save time and cut on-floor resource costs.
  • They can also be placed in public places where the bank may not otherwise have an on-ground branch presence, thus enabling customers to do deposits with ease.
  • The machines themselves serve as an excellent source of branding for the bank