Axis Bank launches smart self-service terminal

Axis Bank, India’s third largest private sector bank, has launched 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,” Axis Bank said in a statement.

Cash recycling

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 the deposited cash for future withdrawal transactions, thereby improving the efficiency of the bank's cash operations, it said.

Rajiv Anand, Group Executive & Head- Retail Banking, Axis Bank said, “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.”

The bank will convert its existing cash deposit machines to smart self-service terminals in a phased manner.


Source : Thehindubusinessline