Cash Deposit Machines (CDM) / Bulk Note Acceptors (BNA)
Federal Bank has introduced Cash Deposit Machines or Bunch Note Acceptors (BNA) at select branches which facilitates remittance of cash on real time basis to customers' accounts on a 24x7 time frame, i.e. even beyond the business hours of the Bank.
The machine has inbuilt intelligence to identify fake notes and to sort cash deposited by customers into different denominations.
It also provides other facilities like balance enquiry and mini statement.
This machine will work around the clock and accept bulk amounts of deposits, sort the cash, count it and instantly credit it to the account of the depositor.
It allows the customer to make an envelope –free cash deposit in bundles of currency notes of various denominations.
It increases customer acceptance by validating, denominating and counting deposited currency emulating a teller transaction.
Deposit details are printed on the customer's receipt.