The ADWM, a highly specialized ATM, allows customers to deposit cash directly into their accounts with just an ATM or debit card swipe. However, the deposit limits and conditions vary depending on the bank, and whether or not a customer's Permanent Account Number (PAN) is registered with their bank account.
In the ever-evolving world of banking technology, customers now have the luxury of depositing cash directly into their accounts via advanced ATMs—eliminating the need to visit a bank branch. These machines, known as Automated Deposit cum Withdrawal Machines (ADWM), are rapidly changing the way we interact with our finances, making cash deposits a swift and seamless process.
The ADWM, a highly specialized ATM, allows customers to deposit cash directly into their accounts with just an ATM or debit card swipe. However, the deposit limits and conditions vary depending on the bank, and whether or not a customer's Permanent Account Number (PAN) is registered with their bank account.
As the State Bank of India (SBI) explains on its official website, "The Cash Deposit Machine, better known as Automated Deposit cum Withdrawal Machine (ADWM), is an ATM-like machine that allows you to deposit cash directly into your account using the ATM cum debit card. You can use this machine to instantly credit your account without visiting the branch. The transaction receipt also gives you your updated account balance."
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As of September 24, 2024, SBI has set clear limits on ADWM deposits. Customers depositing without a debit card can deposit up to Rs. 49,900/- per transaction, while those using a debit card, with their PAN linked to the account, can deposit up to Rs. 2 lakh in one go. SBI’s ADWMs also support deposits into PPF, RD, and loan accounts, with the machines able to handle up to 200 currency notes in denominations of Rs. 100, Rs. 200, and Rs. 500.
HDFC Bank’s ATMs offer similarly convenient deposit features. For savings accounts, customers can deposit up to Rs. 25,000 per transaction. For card-based deposits, the limit rises to Rs 1 lakh, with a daily cap of Rs. 2 lakh. The machines accept Rs. 100, Rs. 200, Rs. 500, and Rs. 2000 denominations, allowing up to 200 notes per transaction. However, these machines are exclusively available for deposits into HDFC Bank accounts.
Union Bank of India brings its own innovative approach with Cash Recycler Machines (CRMs), which allow customers to deposit and withdraw cash. These machines accept up to 200 notes per transaction, in denominations of Rs. 50, Rs. 100, Rs. 500, and Rs. 2000. Deposits without PAN validation are capped at Rs. 49,999, while a PAN-validated account can accept deposits up to Rs. 1 lakh per transaction. CRMs ensure secure transactions by impounding counterfeit notes, adding another layer of security.
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According to Union Bank’s website, “Cash Recycler Machine is capable of accepting and dispensing multiple notes simultaneously. CRMs accept a maximum of 200 currency notes per transaction, and a maximum value of Rs. 49,999. With PAN card validation, an additional amount up to Rs. 1 lakh can be deposited. CRMs impound counterfeit currency, ensuring secure deposits."
Bank of Baroda offers significant deposit flexibility. For customers with a registered PAN, daily deposits can go up to Rs. 2 lakh using their debit card, while those without a PAN can deposit up to Rs. 49,999. Cardless transactions, which require entering an account number, are limited to Rs. 20,000 per day.
Punjab National Bank (PNB) offers multi-functional kiosks that allow deposits of up to Rs. 1 lakh per transaction for accounts with registered PAN numbers. As per PNB’s statement, “PNB Cash Acceptor cum ATM or Bulk Note Acceptor is a highly efficient multi-function kiosk, meant for accepting cash for deposit in the account (for PNB only) as well as dispensation of cash and all other ATM functions.” The machine accepts denominations of Rs. 100, Rs. 200, and Rs. 500, with non-PAN accounts capped at Rs. 49,900 per transaction.
The introduction of ADWMs and CRMs across major banks highlights a new era of ease and accessibility in banking, ensuring customers can manage their cash effortlessly—no matter the hour or location. With clear deposit limits and security measures, these machines are reshaping how India handles cash deposits.