How To Deposit Money through SBI Cash Deposit Machine

As it is clear by its name Cash Deposit Machine is a mechanism through which you can deposit cash directly in your account. Moreover, you can deposit in others’ accounts as well.

Cash Deposit Machine is a machine like an ATM. But its use is quite the opposite of ATM. As ATM dispenses the money on your demand. On the other hand, Cash Deposit Machine accepts your cash.

Thus in this post, we will discuss the working of Cash Deposit Machine. We use the abbreviation of Cash Deposit Machine as CDM.

How To Deposit Money in SBI CDM

CDM is a method which allows you to deposit cash without visiting the bank branch. It credits the amount in your account instantly. Thus it helps you to stay away from queues and paper work.

To deposit money through the CDM, you should have only your ATM cum Debit card with you. Then visit any CDM of your bank. And follow some easy instructions. The procedure to operate CDM may be different from bank to bank. But there will not be a big difference.

Step 1, Insert the ATM cum Debit card in the card slot of CDM. Enter the ATM PIN.

Step 2, Select the account type out of Saving or Current.

Step 3, Now put the money in the cash deposit box. Click on continue.

Step 4, The CDM will validate the money. After the verification, it shows you a message on the screen. This message contains the denomination details and total amount.

Step 5, Check the details. If you find it wrong, click cancel. However, its possibility is zero. If it is correct click Continue/ Yes/ OK, whichever is the option.

Step 6, As you press continue, the CDM accepts the money. Quickly it generates the transaction receipt. Also, you receive an SMS on your registered mobile number. Thus the transaction is successfully completed.

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Deposit Without Debit Card

Besides deposit through the card, the CDMs allow you to deposit cash without using your debit card as well. Without using the card you can deposit in others’ account as well.

To deposit through the debit card, you are required only your card. But through card less deposit you must have the mobile number and account number of the beneficiary.

Now see the process of the deposit without Debit card. It is also almost same for all banks. Thus I am telling you a common procedure-

Step 1

Select the Card Less Deposit option on the CDM screen. It requires the beneficiary mobile number.

Enter the mobile number. Confirm if correct, press the correct button.

Step 2

Select the account type. It may be saving or current.

Now enter the beneficiary account number. Press OK if it is correct.

Step 3

You can see the details of account holder such as name, account number and mobile number. Moreover, you can see the transaction charges and deposit per transaction limit as well.

Step 4

Press the Continue button if the above details are correct. Cash deposit window will open below the screen. Put the money in the box horizontally. Also, read the message on the screen about denomination which the CDM accept.

Step 5

Now press the continue button again. The box closes and the CDM validates the money. Then a message displays on the screen. It contains the details of your inserted money.

Step 6

Check out the details. If it is correct, press confirm. Your transaction is completed. And you get the transaction receipt instantly. Moreover, you get an SMS on your mobile as well.

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How Much Money Can I Deposit in SBI CDM?

SBI the largest bank of India has decided the limits of cash deposit through the CDM in two ways-

1. If you are depositing through debit card, the limit is a maximum of ₹2 lakh.
2. If you are depositing without using the card, then you can deposit a maximum of ₹49,900.

Moreover, you can deposit up to a maximum of 200 currency notes in a single transaction. The notes can be of ₹100, ₹200, ₹500 and ₹2000

Though the above limits are on a standard basis. It may differ according to the banks their own limits.

My Experience With SBI Cash Deposit Machine

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CDM vs Counter Deposit

Banks are facilitating CDM services progressively. But you may deposit through the counter of the banks as well. However, if you compare both you will find that CDM is much better than Counter Deposit. But in some cases, Counter Deposit is better. Have a look-

1. Through the counter, you have to fill the deposit form. But in CDM no requirement of any form.
2. Counter deposit demands ask full details of the account holder. But in CDM only debit card is sufficient.
3. You have to stand in a queue at the counter most of the visits. But still, there are a few users of CDM. Hence, CDM saves your time.
4. You get the deposit information just after depositing the amount in CDM. But through the counter, it takes a few hours and sometimes a day.
5. CDM allows you to deposit 24 X 7 including holidays. But banks are open for few hours only on working days.
6. No need to bear the rude behavior of the bank staff. Because a machine never misbehaves with you.
7. Through the counter, you may deposit mutilated currency and coins as well. But CDM does not accept these type of notes and coins.
8. If you use the cardless method to deposit in CDM, you have to bear transaction charges. But through the counter, 3 deposits in a month is totally free.

Thus in respect of the above comparison, you can see how CDM makes your transaction hassle free.

Recommended – SBI ATM Withdrawal Limits

Other Uses of CDM

Some CDMs may be act as a separate machine. On the other hand, some machines work jointly for the ATM and CDM. Thus those type of CDMs may give you more benefits. You can use CDM round the clock. Even on Sundays and Bank Holidays.

Generally, CDM is for depositing the money, but you can use it for the other purposes as well. Like-

• To withdraw money
• For PIN change
• Balance Enquiry
• Mini Statement etc.

Even you can use CDM to deposit money in your PPF account or RD account. Moreover, you can pay your Bank Loan through the CDM as well.

Can You Deposit in the CDM of any Bank?

No, you can not. You can deposit in the CDM of the bank which have the beneficiary account.

For example, if you have an account with SBI, you can deposit in any CDM of SBI. But you can not deposit through the ICICI CDM.

However, you may deposit through a CDM in the branch of your bank where you have not an account. Even in any city.

Precaution While using CDM

• Do not take help from strangers in CDM cabin.
• Hide your input details in CDM as much as you can.
• Do not put the moulded or mutilated notes in CDM box.
• Carefully enter the account and mobile number.
• If you find any type of discrepancy, share it with your bank.
• Always press the Cancel button after completing the transaction.