Banking has always been a complicated process that involved rigid rules, detailed documentation, and complex procedures. Thankfully, technology has transformed modern banking into a convenient and easy affair. Customers are no longer required to make personal visits to the branch for carrying out basic tasks like depositing cash and cheques or withdrawing money from their account.

Wide Range of Banking Services in ATMs

The widespread usage of debit and credit cards has freed customers from the compulsion of visiting banks for withdrawing cash from their accounts. Today, banks have their own ATM networks spread all over the country. Apart from withdrawing cash, customers can enjoy instant access to a wide range of services like balance enquiries, cheque-related services including requests for a new cheque book, instructions for a stop payment, and enquiry about the status of cheques deposited into the account.

Further, ATMs allow account holders to execute intra-bank transfers instantly even outside official working hours. Today, a functional ATM has become a mini-branch that allows customers to execute a wide range of transactions without having to take time out of their busy schedules to visit the branch.

Convenience Banking through Cheque Deposit Kiosks

While ATMs may have made it easier to withdraw cash, individuals are often required to make personal visits to stand in long queues just to deposit cheques into their accounts. If you are a Kotak Bank account holder, you can take advantage of cheque deposit kiosks to avoid unnecessary documentation or delays.

Simply enter your account number, insert the cheque in the deposit slot, verify the accuracy of the scanned image and the captured cheque number, and complete the transaction in no time. You will get a receipt for the transaction and the transfer will be cleared on the same day itself. This is a much better option than waiting for the collection of the cheque from the ATM’s drop box for processing, which invariably results in a 2-3 day delay in the credit of the amount.

Combining automated cheque processing with computerized NEFT, RTGS, or IMPS transfers will help you enjoy convenient banking services without unnecessary wastage of time.

Cheque Deposit Kiosk

Instant Cash Deposit for Faster Banking

Finally, Kotak has made banking faster and more convenient with its instant cash deposit machines. One can deposit cash by swiping the debit card and providing the PIN or entering the account number. In both cases, the customer can proceed ahead after verifying the details and place the cash in the deposit slot.

The machine will count the notes, verify the deposit amount, and generate the proof of deposit. Further, the amount will be credited into beneficiary’s account instantly. Automation ensures that customers can deposit huge amounts without any delays.

Cash Deposit machine

There was a time when a visit to the bank used to take up the entire productive day of the individual. Today, even banking activities like depositing a cheque, which was impossible without a personal visit to the branch, can be done quickly with the help of convenient banking kiosks.

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• Third Party Fund Transfer : NEFT,RTGS
• Service Charges on Saving Accounts by Bank,QAB,MAB

About the author:

Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.