Listed National Bank of Malawi (NBM) plc will roll out the cash deposit facility on selected Auto Teller Machines (ATMs) which allow customers to deposit cash directly into their account using the NBM debit card.
Making the announcement in Blantyre, NBM plc Head of Operations Brian Boby said customers can use the machine to instantly credit their accounts without visiting the branch.
“As the Bank of the Nation, we are constantly looking at innovative ways for our customers to have a different banking experience and we believe that our new service is convenient and will serve our customers better and faster while decongesting our banking halls,” said Boby.
In the first phase of the project; cash deposit taking ATMs have been installed at key sites across the country namely Henderson Street Service Centre, Victoria Avenue Service Centre, Mzuzu Service Centre, Capital City Service Centre.
Boby explained that in order to deposit money at these ATMs, the user should first insert or swipe their debit card at a deposit taking ATM and then select ‘cash deposit’. This will then prompt the deposit slot to open, to allow the user to insert the cash which the ATM will count, returning unfit notes in the process.
“The ATM will indicate on the screen the amount of the accepted notes. The customer may also add more cash and confirm the deposit and request for a receipt. The ATM will process the transaction and produce a receipt which the customer will collect together with the debit card,” said Boby.