ATM (Representative Image)
India’s largest lender State Bank of India’s (SBI) Automated Deposit and Withdrawal Machine (ADWM) allows its customers to avail key banking facilities and it is not only meant for withdrawing cash.
SBI from its official Twitter handle tweeted “Why to stand in a queue when you can avail key banking facilities on an ADWM near you? Watch the video to know more about the facilities available on it”.
Why stand in a queue when you can avail key banking facilities on an ADWM near you? Watch the video to know more about the facilities available on it.#ADWM#YONOSBI#YONO#Banking#BankingSerivices#ATMpic.twitter.com/1aqPVFYRjU— State Bank of India (@TheOfficialSBI) February 4, 2021
What is ADWM?
Automated Deposit cum Withdrawal Machine (ADWM) is an ATM-like machine that enables customers to deposit cash directly into customers’ accounts using the ATM cum debit card. Without visiting the branch, the customer can use this machine to instantly credit his account. The transaction receipt also gives customers an updated account balance.
SBI’s Automated Deposit and Withdrawal Machine – Here are the services available
-Quick and convenient cash deposit and withdrawal transactions
-Cash deposit and withdrawal both facilities available
-You can also deposit cash in your PPF, RD, and loan accounts
-Cash deposit – Instant credit into self or third party SBI accounts
-The per transaction limit is Rs 49,900 for a Cardless deposit and through Debit Cards Rs 2 lakhs (subject to account has ceded with PAN number).
-Up to 200 currency notes can be deposited in a single transaction
-The ADWM only accepts denominations of Rs 100, Rs 200, Rs 500 & Rs 2000
-No charges for depositing cash in a self account using the SBI debit card
-A nominal fee of Rs 22 plus GST for cardless deposit and on cash deposit using SME Insta/Business debit card
-Cash Withdrawal: You can also withdraw cash through this machine of SBI as well as of Other Banks’ accounts.
-Supports cardless cash withdrawal in Yono cash enabled ADWMs
-PIN change: Use this service to change your password at regular intervals
-Balance Enquiry: Expecting an inflow of funds in your account? Use this service to check the current available balance in your account. This service is available on the main options screen after swiping your card. You can also ‘Go Green’ by selecting the view option as the balance is displayed on the screen else get a transaction receipt by selecting print.
-Mini Statement of Account: Keep track of the transactions in your account by availing of this service. Mini-statement gives you an insight into the last 10 transactions in your account.
-Green PIN: You can generate your Green PIN through these machines
-YONO Cash: You can withdraw cardless cash withdrawal up to ?20,000/- using YONO Cash