Axis Bank deploys 500 cash deposit machines

Customers can now deposit cash in real-time

Axis Bank has deployed 500 cash deposit machines in various branches in over 300 cities across the country, said a press release issued by the bank on Wednesday.

The cash deposit machines network enables customers unmatched convenience of depositing cash in real-time, with funds credited instantly to their accounts for all successful transactions without the hassles of filling lengthy deposit slips and waiting in the queue at the teller.

The machine segregates the notes denomination wise, counts and displays it for the customer’s confirmation before crediting the account. A receipt is issued after each deposit effected, confirming the transaction.

This facility is available 24x7 for all 365 days in select branches, bringing the ability to deposit cash after banking hours and on Sundays and holidays. In addition to convenience, the machine brings speed to the cash deposit process. As against an average of 30 minutes to deposit cash at the teller counters, this machine allows the customer to deposit cash in less than a minute.