Now, machine to deposit cheques


A man deposits cheque at SBI branch. DH Photo by Anurag Basavaraj.

Automatic Teller Machine (ATM) to withdraw money from banks, Anytime Payment (ATP) a machine that makes paying of electricity bills easy are passe. What’s new is, electronic cheque deposit machine.

Keeping in pace with the technology, State Bank of India has installed a machine to enable its customers to deposit the cheques. The system presently available at the branches in Mothikhana building opposite Palace, on New Sayyaji Rao road and Yadavgiri is a hit among the customers, if the rush is taken into consideration. The bank claims as a matter of pride to be the first to introduce such a facility, which will be gradually replicated across all the branches.

G M Gokharn the chief manager of the SR road branch told City Herald that the new facility commissioned a fortnight ago assures security. It is mainly aimed at issuing counterfoils for the transaction- a record both for the bank and also customers who form the nerve centre of banking. It also reduces the manual burden on the counters, as there are customers who are particular about counterfoil, not willing to take any chances in future. For the ease of customers, a dedicated man is stationed at the machine. No sooner a cheque is inserted into the machine, a photocopy of the same comes through an outlet on the right side and so also the challan. Only one cheque and challan can be inserted at a time. A board hung on the wall succinctly explains about the functioning of the machine. However, the service is available only during banking hours from 10 am to 5 pm.

That apart, the bank already has a system where the cheques-local, outstation or others can be dropped into designated boxes kept in the front. But the only disadvantage, if the customers version are taken into consideration is, the cheques are not cleared on time. Also, the query was regarding non-issuing of counterfoils in the case of drop box.

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