BoB launches ad­vance cash de­posit ma­chine

Bhutan Times - - Home - Deki Lhadon

The Bank of Bhutan (BoB) will launch Bhutan’s first Cash De­posit Ma­chine (CDM) at its branch premise at City Mall, Ch­hubachhu, Thim­phu, to­day.

The CDM will en­able clients to make de­posits di­rectly into their ac­counts at their con­ve­nience. Ini­tially, the Bank has in­stalled two ma­chines at the City Mall branch in Cap­i­tal.

The ma­chines have been in­stalled in the branch premise to ease the in­tro­duc­tion of the new ser­vice and as­sist clients in us­ing the ma­chines. Once the users are fa­mil­iar with the fea­tures of the ma­chine, the Bank plans to move them to off-site lo­ca­tions for the con­ve­nience of its clients, and har­ness the full po­ten­tial of the ma­chines.

BoB has been the leader in in­tro­duc­ing new tech­nol­ogy in bank­ing, be­ing the first to start In­ter­net Bank­ing, SMS Bank­ing, Mo­bile Bank­ing, among oth­ers. The in­tro­duc­tion of the CDM will en­able the bank’s clients to make cash de­posits to their ac­counts round-the-clock.

The CDM will ac­cept Bhutanese cur­rency of Nu. 50.00, Nu. 100.00, Nu. 500.00 and Nu. 1,000.00, and will also in­tel­li­gently de­tect and re­ject coun­ter­feit, soiled, folded, mu­ti­lated, and torn notes, and all for­eign cur­rency notes through its mul­ti­level se­cu­rity fea­tures.

The Chief Ex­ec­u­tive Of- fice, BoB said, “The launch of the CDM fur­ther con­firms BoB’s com­mit­ment and con­tin­ued ef­forts to im­prove cus­tomer ex­pe­ri­ence by mak­ing bank­ing trans­ac­tions con­ve­nient for its clients.”

“With the cash de­posit func­tion­al­ity of the CDM, to­gether with other bank­ing chan­nels like In­ter­net Bank­ing and M-BoB, clients will now en­joy 24X7 bank­ing fa­cil­ity in its true sense. He added.

He also ex­plained the func­tions of CDM: “The CDM is a self-ser­vice ter­mi­nal that lets you make cash de­posits di­rectly into your ac­count linked to an ATM card. The ma­chine will ver­ify the cur­rency notes be­ing de­posited and ask for con­fir­ma­tion of the amount be­ing de­pos- ited.”

“Once the amount is con­firmed, the de­posit is im­me­di­ately cred­ited to your ac­count, and cus­tomers will be is­sued a re­ceipt slip with break-up of the de­nom­i­na­tions and to­tal, con­firm­ing the trans­ac­tion.” He men­tioned.

The CDM is also ca­pa­ble of re­cy­cling the de­posits and dis­pens­ing cash like an ATM. How­ever, this func­tion­al­ity will be en­abled at a later date.

CEO also men­tioned the ad­van­tages of the CDM, “Your money gets in­stantly cred­ited into your ac­count, no need to fill up a cash de­posit slip or wait in queue to de­posit cash. How­ever you will re­ceive im­me­di­ate re­ceipt.”

No need to sort and ar­range your cash ac­cord­ing to de­nom­i­na­tions, you can de­posit cash round the clock and through­out the year. A CDM is en­abled to func­tion 24X7, even on hol­i­days. Thus, you don’t need to wait for the bank to open to de­posit money.”

Es­tab­lished in 1968 through a Royal Char­ter, the Bank of Bhutan is the old­est and the largest bank in the coun­try with its pres­ence in all 20 Dzongkhags through a net­work of 29 branches of­fices and 17 ex­ten­sion coun­ters.

The Bank has the largest net­work of 82 ATMs spread through­out the coun­try. BoB is the only bank in the King­dom with pri­mary mem­ber­ship of Visa and MasterCard and is the only bank is­su­ing Visa branded Credit Cards for cor­po­rate bod­ies and in­di­vid­u­als.

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