Prabhu Bank Limited has introduced a service that allows customers to deposit money into their accounts using a machine.
The bank has developed the Cash Recycle Machine as a means of depositing money into a bank account, eliminating the need to be physically present at the cash counter (CRM).
The service of depositing money into a bank account using a machine is now offered at the bank’s Babar Mahal headquarters. The bank intends to roll out this service to other sections of the country over time.
When a consumer wishes to deposit money into a bank account, they go to a cash deposit machine and put in the bank account number where they want to deposit the money, and the deposit box in the machine opens. After placing the necessary amount in the box, the money is immediately deposited. The voucher is immediately printed.
The bank further stated that the machine allows users to deposit money into their preferred account using a debit or credit card. For the time being, this service will only be offered to users who have a Prabhu Bank account.