In India, many banks have started to transfer money to other Bank account through CDM ( Cardless) CDM means cash deposit machine. It is the machine just like ATM. ATM is used for withdrawing money but CDM is used for deposit money in own or beneficiary account. Two of the great benefits of this, you need not go to bank for deposit money and second you need not to use the card for deposit money.
Following are its Simple Steps:
1. Use the Option Cardless Deposit on the Screen CDM
You have to go to your cash deposit machine. On the screen, you will see cardless deposit option. You have to use it by pressing it.
2. Use Your Language
After this, you have to use your language
3. Select the Beneficiary Bank Account
It may SBI, SBM, SBA or other bank in any network of cash deposit machine.
4. Register Your Mobile No.
In 4th step, you will see the option of entering your mobile no. You have to enter it and then you have to confirm it.
5. Write Your or Beneficiary Bank Account No.
You have to write your own or beneficiary bank account no. which will be in 11 digit. Beneficiary will be your seller or a Not-for-Profit Organisation. After entering it, you have to press yes. After pressing yes, it will ask to re-enter same your own or beneficiary account no. You have to write again and press yes. Now, you have to confirm beneficiary account and name.
6. Insert Cash in the Machine
You have to insert cash in cash deposit machine. Press enter. Machine will validate the cash and show the detail of notes. You have to confirm it. After this, your transaction will complete. So, with above steps, you can deposit money without ATM card in cash deposit machine.
Following will show in the beneficiary account statement.