Axis Bank launches self-service terminal for cash deposit & withdrawal

Customers can transact even without debit card; If the bank has their PAN details, then there is no ceiling on amount of cash deposited

 

Axis Bank-country’s third largest private sector bank-has launched a self-service terminal that enables customers to deposit as well as withdraw cash from the same machine.

Customers can initiate a deposit transaction through these terminals even without using a debit card. If the customers PAN details are available with the bank then there is no restriction on the amount of cash being deposited, the bank said.

Apart from providing convenience to the customer, this will also help the bank in reducing operational cost. This is because the terminal will reduce the frequency of loading cash in the machine as well as the cost of idle cash as it will allow cash recycling operations. This in turn will improve efficiency of the bank's cash operations, it added.