What are Cash Deposit Machines in ATMs and How to Use Them?

In an era where digital transactions are gaining ground, many people still prefer cash for various reasons. Whether it’s for personal budgeting or business expenses, having cash on hand is often essential. Thankfully, cash deposit machines (CDMs) have made it easier than ever to manage your finances, allowing you to deposit cash directly into your bank account. 

In this guide, we’ll explain what is a cash deposit machine, how they work and the steps to consider to deposit cash via ATM.

What is a Cash Deposit Machine?

A cash deposit machine is automated machine similar to ATM – just that instead of dispensing cash, the machine allows you to deposit cash, you can deposit cash. This eliminates the need of going to a bank branch and depositing cash, which otherwise would be a time-consuming activity. Additionally, CDMs operate 24/7, making it more convenient to deposit cash whenever required.

There’s another type of automated machine that facilitates both – cash deposit and withdrawal. Such machines are known as Cash Recycler Machines – more on this in another blog. Now let’s understand how to locate a cash deposit ATM machine.

How Does a Cash Deposit Machine Work?

It’s fairly easy to locate a cash deposit machine in ATMs. Most banks have logos and indicators on their ATMs so that you can differentiate between a cash withdrawal machine and a cash deposit machine. Similar to cash withdrawal ATMs, you would need to use your Debit Card and your card PIN to deposit cash. Kindly ensure to carry bank-supported currency notes in working condition (not torn or damaged notes). That said, you can also deposit cash in a CDM without a Debit Card. Let’s understand the processes better.

How to Deposit Cash in ATM with a Debit Card 

Depositing cash in a Cash Deposit Machine (CDM) with a debit card is simple. Follow these steps:

1. Insert Your Debit Card: Begin by inserting your debit card into the card slot, just as you would for withdrawing cash.
2. Enter Your PIN: Input your Personal Identification Number (PIN) for authentication.
3. Input the Deposit Amount: Enter the amount you wish to deposit on the machine’s interface.
4. Verify the Amount: Double-check the entered amount displayed on the screen.
5. Insert the Cash: Place the currency notes into the designated slot of the machine. Ensure the notes are clean and unfolded.
6. Collect the Confirmation Slip: Once the deposit is processed, the machine will provide a receipt with transaction details for your records.

How to Deposit Cash in a CDM Without a Card

You can also deposit cash in a CDM without using a debit card. Here’s how:

1. Locate a CDM Near You: Find a nearby Cash Deposit Machine.
2. Enter Your Bank Account Number: Key in the account number where the funds should be deposited.
3. Select a Preferred Language: Choose your preferred language for the transaction.
4. Input and Confirm Your Mobile Number: Enter your mobile number for verification and confirmation.
5. Choose "Deposit Cash": Select the deposit option on the machine.
6. Insert the Currency Notes: Place the cash in the machine's designated slot.
7. Allow the Machine to Process: The machine will count the notes and display the total amount on the screen.
8. Confirm the Transaction: Verify the amount and finalize the transaction.
9. Collect the Confirmation Slip: Retrieve your receipt as proof of the successful deposit.

Step-by-Step Guide: Depositing Cash at a CDM

Whether you are using a card or card-less method, here’s a summarized step-by-step guide:

Step 1: Find a CDM

Locate a CDM at your bank or nearby locations.

Step 2: Start the Process

Insert your ATM card (if using a card) or input your account number (for card-less transactions).

Step 3: Authenticate

Enter your PIN or provide your mobile number for verification.

Step 4: Select Deposit Option

Choose the deposit option from the menu.

Step 5: Input the Deposit Amount

Enter the amount you want to deposit and confirm.

Step 6: Place the Cash

Insert currency notes into the machine’s slot.

Step 7: Confirm and Complete

Verify the transaction details, confirm the deposit, and collect your receipt.

Advantages of Using a CDM for Cash Deposits

Cash Deposit Machines offer several advantages:

1. Time-Saving: No need to wait in long queues; transactions are quick and efficient.
2. Secure Transactions: Reduces risks associated with carrying large sums of cash to a bank.
3. Convenience: Available 24/7, allowing deposits at any time.
4. Instant Credit: Deposited funds are credited to your account immediately, making them available for use right away.
5. Simplified Process: No deposit slips or manual paperwork are required, streamlining the experience.