State Bank of India partners NCR for cash deposit ATMs

State Bank of India (SBI) partners NCR for cash deposit ATMs.

Mumbai headquartered country’s largest lender State Bank of India (SBI), has deployed 600 cash deposit ATMs partnering with ATM manufacturer and service provider NCR Corporation.

SBI-LogoWith the adoption of NCR SelfServ intelligent deposit ATMs, SBI will give its customers the flexibility to execute everyday cash deposit transactions beyond banking hours.

Migrating high volume deposit transactions from the branch to the ATM reduces cost significantly for banks. A single cash withdrawal or deposit transaction at the branch can be reduced by up to 75 per cent. A normal withdrawal typically costs a bank between Rs 40 to Rs 45 per transaction, while the same transaction may cost about Rs 10 to Rs 15 at the ATM.

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