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Axis Bank launches smart self-service terminal, enabling deposits & withdraw

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Pune (Nov. 19, 2014): Axis Bank announced the launch of a smart self-service terminal that enables customers to deposit as well as withdraw cash from the same machine. Customers can initiate a deposit transaction through the smart self-service terminal even without using a debit card and will receive instant credit for the deposited amount. There is no cap on the amount of cash deposited by the customer through these terminals, provided his/her PAN details are available with the bank.

The smart self-service terminal will reduce the frequency of loading cash in the machine as well as the cost of idle cash as it allows cash recycling operations by dispensing deposited cash for future withdrawal transactions, thereby improving efficiency of the bank's cash operations.

Speaking on the occasion Mr. Rajiv Anand, Group Executive & Head- Retail Banking, Axis Bank said, “Axis Bank has been a pioneer in launching customer friendly technology initiatives in the banking space. The self-service terminal is another innovative product by the bank which will help customers carry out all financial and non-financial transactions in a convenient and hassle free manner.”

Axis Bank has focussed on introducing innovative products and services and has always promoted the convenient and hassle free self-service environment through ATMs, Cash Deposit Machines (CDM) and Cheque Deposit Kiosks. The smart self-service terminal is another step by the bank towards offering a one stop solution to its customers for carrying out all their financial and non-financial transactions. The bank will convert its existing CDMs to smart self-service terminals in a phase wise manner.