White Labeled ATM & CDM Machine Installation
An ATM is a computerized machine that provides customers of banks the facility of accessing their accounts for dispensing cash and to carry out other financial & non-financial transactions without the need to visit the bank branch.
ATMs set up, owned and operated by non-banks are called WLAs. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).
Cash Recycler Machine is capable of accepting and dispensing multiple notes simultaneously. CRMs accepts maximum 200 currency notes of Rs. 50,100, 500 and 2000 denominations per transaction and maximum value of Rs. 49999/-. On PAN card validation additional amount up to Rs.100000/- can be deposited per transaction. CRM impounds any counterfeit currency and such notes are not returned to the depositor. Cash deposit and withdrawal is allowed to NFS member bank cardholders by CRM. Cash withdrawal feature is
similar to ATM in CRMs.
One of the technological innovations that is going to replace the work of ATMs is Cash Recycler Machine. The CRM is a self-service terminal that allows a customer to make both cash deposit and withdrawals.