• CDM
  • Overview and Brief History
  • PRODUCT Features
  • CDM Network Planning – Onsite/ Offsite
  • Profitability of CDMs
  • Risk Management and Frauds
  • Back End Operations and Technology

Cash Deposit Machines

The money Deposit Machine, higher called machine-controlled Deposit ejaculate Withdrawal Machine (ADWM) is associate degree ATM like machine that enables you to deposit money directly into your account victimization the ATM ejaculate positive identification. It’s attainable to deposit money or checks in your checking account employing a deposit-enabled ATM. With the growing convenience of mobile deposit, though, you’ll simply keep home, take an image of your check, and submit it for deposit victimization your bank’s app.

Overview and Brief History

A money Deposit Machine is straightforward to use. All you wish is your positive identification or your checking account variety. Some money Deposit Machines enable you to swipe your positive identification to create a dealings, whereas others need you to manually key in your checking account variety. The machine prompts you for confirmation once you enter the account variety before you deposit the currency notes. You may even be asked to enter your positive identification PIN number. Once you decide on the choice for ‘deposits’, you then ought to select the account you wish to deposit the money into. And once you enter the right quantity, your dealings can undergo with success.  Customers can receive associate degree recommendation slip confirming completion of the dealings.

Product Features

Some of the salient options of this product are:

  • Instant credit of money deposit into your own account
  • Quick and convenient thanks to deposit money
  • Paperless dealings
  • The per dealings limit is Rs.49,900/- for Cardless deposit and thru Debit Cards Rs. 2 lacs (subject to account has ceded with PAN number).
  • You may also deposit benefit you’re PPF, RD and Loan accounts
  • Upto two hundred currency notes is deposited in a very single dealings

CDM Network Planning – Onsite/ Offsite

  • Onsite CDMs unit originated inside the premises where there is a bank branch thus every the physical branch and thus the CDMs used. This may be brought up as being on electronic computer and this might be used for several functions. Several people can use this to avoid the lines that unit gift inside the branch and thus save on the time required to end their transactions.
  • Offsite CDMs unit originated on a standalone basis. This means that the bank contains an area where there is alone associate degree CDM machine then this becomes associate degree off electronic computer CDM. This may be done to substantiate that the bank reaches resolute tons of square measurable region units that people are able to use its services even once there is no bank branch inside the area.

Profitability of CDMs

The CDM offers opportunities for property development however conjointly brings necessary co-benefits, like economic condition reduction, access to energy economical lighting and cookery, improvement of air quality and living conditions, reduction of prices and generation of jobs and skills.

  • The machine types notes quickly (600 notes per minute) and generates a close report showing the denomination breakdown, saving each time and workforce prices.
  • Includes associate degree intuitive and advanced counterfeit note detection operate to present peace of mind to businesses
  • Installing a money deposit machine considerably reduces this risk by functioning as a extremely secure safe.
  • The machine permits period of time management and observation of the money financial gain level.
  • They slot in any size of premises and are very economical as they’re obtainable to either lease or get to suit the wants of varied sizes of operators.

Risk Management and Frauds

Guardforce’s total money resolution takes care of clients’ money financial gain beginning at the shop. Providing one-stop money management services for businesses in Macao, our customers will transfer the money they earn into our money deposit machines. Providing bigger security and giving a safer technique of keeping your benefit store, Guardforce offers a hassle-free approach to money management. It saves businesses in Macao each time and cash with trade leading technology and comes with many benefits in comparison to managing your money in-hand.

Integral to Guardforce’s end-to-end sensible money Management resolution is Guardforce’s money Deposit Machine. It boasts full money process options such as:

  • Highly reliable instant multi-currency and counterfeit recognition
  • Fast and correct bank-note count for up to 600 bank notes per minute in any denomination
  • A Wireless, compact and standard style to suit completely different business environments
  • Strongly designed with high-security options like auto-sealing baggage for keeping of money in business premises
  • It is integrated with Guardforce’s secure provision capabilities to create associate degree end-to-end money management resolution.

Back End Operations and Technology

A common backend provider for CDM operational on the Aadhaar Enabled Payment System is inside the works to ease the matter of walk access to bank accounts and create the foremost rural areas. EPS might be a bank-led model that varies from bank to bank.  It permits for transactions across banks practice Aadhaar authentication, but inter-operability has been a retardant resulting in transactions of various banks being declined. The government in addition desirous to manufacture tiny CDMs to over 100,000 ration or honest value shops by March 2017 and banks are recommended to upgrade them as business correspondents. There are unit nearly 5,000 honest value shops across the country. A typical answer provider for AEPS transactions will confirm that varied issues related to decline in banking transactions unit taken care off and completely different ability issues, same the on high of quoted government official.

About the Author

BankReed Admin

Banking Professional with 16 Years of Experience. The idea to start this Blogging Site is to Create Awareness about the Banking and Financial Services.

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