GTBank Customers Can Now Make Deposit Through ATM

GTBank customers are now a class apart from their counterparts in other banks as Interswitch Nigeria, a leading electronic payment transaction and switching firm, has empowered them to make cash deposits through some designated ATMs.

The project, which is the first of its kind in Nigeria, will enable cash deposits through GTBank ATMs without inserting or using a debit card. The cardless ATM cash deposit solution from Interswitch can be accessed on certain GTBank cardless ATMs by clicking the enter button on the machine, which prompts the customer to key in the details of the account to be credited.

The ATM then requests for a confirmation of the account number and account name of the beneficiary. Once confirmed, the customer inserts the amount to be deposited, the ATM counts the cash and credits the beneficiary's account immediately. The cardless ATM cash deposit solution allows a GTBank customer to deposit a bundle of different naira denominations and the ATM will sort through the different denominations.

Would you be interested in using such ATM Machines to make deposits?

Once sorted, the ATM displays the amount according to the different denominations and also the total amount deposited. The ATM cash deposit solution has the ability to validate the account of the beneficiary, allowing the depositor to confirm or correct any error.

The deposited amount reflects in the beneficiary account, and can be withdrawn immediately. With the cardless solution, the bank's customers who wish to make cash deposits no longer need to visit the banking hall. They can simply deposit their cash via the ATM into a beneficiary's accounts at any time of the day, including weekends. This provides customers the flexibility of depositing cash anytime; hence, they do not need to worry about carrying huge sums of money home.

According to the director, Payment Processing and Infrastructure at Interswitch, Akeem Lawal, the GTBank Cardless ATM cash deposit solution represents a big step towards full branch automation where entire banking operations are automated and customers are guaranteed an improved and consistent standard of service delivery at all automated bank branches.

"Banks are leveraging the use of ATMs to provide improved consumer banking experience by taking self service to a whole new level," he added.

On the benefits to the bank, he noted that the "Cardless ATM cash deposit solution has reduced the number of customers who visit the GTBank branches," where the ATM solution for cash deposit transactions was first deployed.

In similar vein, Lola Odedina, head, Communication and External Affairs, GTBank, explained that the solution from Interswitch was bound to improve the Nigerian banking sector by providing a ''secure, quicker and more effective channel for making deposits without visiting a banking hall' or using an ATM card.

She further stated that the solution had undergone a successful and extensive test-run at certain GTBank branches and the bank was set to roll out the service in more branches within Nigeria.

http://pmnewsnigeria.com/2011/08/09/gtbank-customers-can-now-make-deposit-through-atm

Nice steps.

Naija! what if smbody uses N200 denominations in place of N1000? Are they not the same size of papers? hmmm!

What A̶̲̥̅̊ question, don't ‎​U̶̲̥̅̊ know dat every denomination has its own secuRity code, so d machine will be designed in A̶̲̥̅̊ way dat I will identify each denomination no matter how you placed it and according to the post you can put all denominations together the machine will separate them its self

...pls delete