Cash Deposit Machine Locator – How to find CDM near you in 2023?
In today’s fast-paced world, time is a valuable commodity. With the advent of technology, banking has become more efficient and convenient. One such technological innovation is the Cash Deposit Machine (CDM), which has revolutionized the way we deposit cash. A Cash Deposit Machine is an automated machine that allows you to deposit cash directly into your bank account without visiting the bank. It is a quick and hassle-free way of depositing cash, and it is available 24/7. In this article, we will explore the benefits of using a Cash Deposit Machine and how it can save you time and effort.
People find it difficult to locate the CDM nearest to them. But finding CDM is very easy! You can find the address of the nearest CDM online with a click of a button. Before we try to locate the CDM near you. Let’s first understand what is CDM.
A cash Deposit Machine (CDM) is just like ATM. in ATM, you insert your card to withdraw money but in the case of a CDM, it’s the opposite. In CDM, you insert your ATM card and then you insert the cash you want to deposit. The CDM will verify the amount you are trying to deposit automatically and deposit the amount in your bank account.
Now that you understand what is CDM. Let’s see how you can locate the CDM near you.
How to locate Cash Deposit Machine (CDM) near your location?
The most simple and easiest method to find CDM near you is to go to google search and type ‘cash deposit machine near me ‘. When you type this search term then google will auto-detect your location and show the CDMs near the location where you are. Google will also help you understand how far the CDMs are from your location.
Examples of output of CDM Near me from Google.
If you want to specifically search for CDM for a bank then you can type the bank name along with the search term. For example, you can try:
- Cash deposit machine SBI near me
- Cash deposit machine ICICI near me
- Cash deposit machine Axis near me
- Cash deposit machine HDFC near me
- Cash deposit machine Kotak bank near me
Now that you have located CDM near you, let’s find out how to use the CDM and deposit your money.
How to use a cash deposit machine (CDM) and deposit cash?
Using the CDM is really easy! Just follow the below steps and you should be able to deposit your cash in under 5 mins:
- Visit the nearest CDM machine and swipe your debit card in the machine. Enter your four-digit PIN for validation.
- You will see various options on the screen as you see in the ATMs. Select the option “Deposit Cash” by pressing on a touchscreen/touchpad.
- Select account type saving or current. Once you are done with the selection you can start depositing cash into the machine.
- Deposit notes one by one in the deposit slot. You can only deposit 100,200,500 and 2000 Rupee notes. The note should be in good condition and shouldn’t be torn.
- The maximum limit for a Cash Deposit machine is Rs.49000.
- Once you select the denomination and press confirm button, the machine will take notes inside for verification. You have to wait for a few seconds. After validation, the money machine will display the amount of money that you kept inside. If the figures are correct press confirm and your account will be credited to your bank account.
- The cash deposit machine will generate a slip with the confirmation of how much is deposited.
As you read above, The process of using the CDM is really easy and can be done by anyone. So now that you know how to use the CDM. Let’s understand what to do if something goes wrong.
Key Features of a Cash deposit machine (CDM)
A cash Deposit Machine (CDM) is a self-service terminal that enables users to deposit cash directly into their bank accounts without the need for a bank teller or cashier. Some of the key features of a CDM include:
- 24/7 availability: CDMs are available round-the-clock, allowing customers to deposit cash at any time of the day or night, even on weekends and holidays.
- Easy to use: CDMs are designed to be user-friendly and easy to operate, with clear instructions displayed on the screen to guide users through the process.
- Multiple denominations: CDMs can accept cash in various denominations, making it convenient for customers to deposit any amount of cash they have.
- Instant credit: Cash deposits made through CDMs are usually credited to the account instantly, providing customers with immediate access to the deposited funds.
- Secure transactions: CDMs use advanced security features such as encryption and PIN authentication to ensure the safety and security of transactions.
- Receipts: CDMs provide customers with a printed receipt as proof of transaction, which includes the amount deposited, the account number, and the date and time of the transaction.
- Wide network: Many banks have a wide network of CDMs across various locations, making it easy for customers to deposit cash no matter where they are.
Cash Deposit Machine Limit in India
The cash deposit machine limit in India may vary depending on the bank and the type of account the customer holds. Generally, most banks have set a daily limit for cash deposits made through cash deposit machines. The limit can range from Rs. 20,000 to Rs. 2 lakhs per day, depending on the bank and the customer’s account type.
It’s important to note that some banks may also charge a fee for exceeding the daily cash deposit limit. It’s recommended that customers check with their bank regarding the cash deposit machine limit and any associated charges before making a deposit.
What to do if you face problems at the Cash deposit machine (CDM)?
In a rare situation, it may happen that the Cash deposit machine (CDM) is stuck and your money is stuck inside the CDM. In this situation do not panic, there is usually a security person deployed in the CDMs. Seek help from them. If that doesn’t work then call the toll-free number(usually mentioned at. the CDMs) and take their guidance on the next steps.
If the CDM is stuck due to power failures then normally it becomes functional when power is restored. So make sure that you don’t leave the place keeping your money unattended.
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FAQ on Cash deposit machine (CDM) Locator
Is it safe to use CDM to deposit cash?
Yes, CDMs are absolutely safe to use. However, you need to be careful while you are depositing cash at CDM. You should make sure that you follow all the instructions carefully while operating the CDM.
When does my account reflect the new balance after depositing cash at CDM?
Most banks update their records instantly after you deposit the money at CDM. However, there may be a few cases where your account may not reflect the cash deposited. In those cases, you should wait for a few hours for the account to reflect the amount deposited by you.
If after a few hours if your account is still not updated with the amount then you should contact your bank to seek clarification.
Which banks have CDMs?
Most nationalized banks and private sector banks have CDM installed in most locations. Small banks like RRBs/cooperation banks may not have CDMs in all locations.
Can I deposit cash in any CDM?
CDMs are bank-specific so if you want to deposit your cash for the bank where you have your account then you have to use that particular bank's CDM machine to deposit cash.
What is a Cash Deposit Machine?
A cash deposit machine (CDM) is a self-service banking terminal that allows customers to deposit cash into their accounts without having to interact with a teller. CDMs are typically found in banks and credit unions.
What is required for Cash Deposit Machine?
Most cash deposit machines will require the user to have an account with the bank or financial institution in order to use the machine. Additionally, the user will likely need to insert their ATM card or debit card into the machine in order to access their account.