ATMs to cash cheques soon | Fusion - WeRIndia

ATMs to cash cheques soon

ATMs to cash cheques soon

Before the establishment of ATM machines, one had to visit the bank branch to withdraw cash by waiting for hours together.

At that time, it is unimaginable to withdraw from a machine instantly wherever you want within seconds.

But, it became true. The same way, now you can cash your cheque at the ATM machines without direct human involvement.

Have you ever imagined that? But, everything is possible in this technology-era.

Leading ATM maker NCR Corporation has developed an ATM that can cash cheques within a minute.

The new ATM machine is deployed at two private banks as a pilot project in Bengaluru and Gurugram.

The customers need to connect with ‘Live Teller’ of the ATM to cash their cheques. Then, they will be connected to the bank staff directly after selecting their preferred language.

After the establishment of connection with the bank staff, the full control will be in their hands.

They will guide the customers on the further process. The customers need to deposit the cheque at the designated place and then send a scanned authentication document (which can be done on the machine itself) to them.

Then, the customers have to sign to complete the verification process and they will receive the cash from the machine within a minute after the completion of the process.

You can also choose the denomination of the currency notes you want to receive while your cheque is getting cleared.

The new ATM machine can cash both local and outstation cheques (based on the arrangements of the bank with another bank).

The new facility will be available round the clock in all seven days of a week.

In addition to that, you can also withdraw money from the new ATM machine without ATM card using your Aadhaar number and biometric authentication. It also allows cash deposits and KYC updates.

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