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The New Method Of Depositing Cash In Banks - Business (3) - Nairaland

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Re: The New Method Of Depositing Cash In Banks by Dindondin(m): 9:24am On Aug 06, 2015
MrCork:



...WOW...u people hav cash point machine in Nigeria? ...SHOCKED!!!!! undecided
it's been here since 3 years ago. but I saw it last week
Re: The New Method Of Depositing Cash In Banks by Debayurr: 9:25am On Aug 06, 2015
i think OP needs to correct the 10k limit..i've actually deposited 100k with this deposit machine....but each time the machine rejects some cash,all u need do is exercise patience to arrange ur cash and if this same issue persist,put in the cash 1by1...afterall its just a machine we shouldnt expect a 100% efficiency...i've really enjoyed it especially after banking hours elapse...

1 Like

Re: The New Method Of Depositing Cash In Banks by Nobody: 9:29am On Aug 06, 2015
veekid:
e no new to me jor


u can deposit more than 10,000 contrary to what the op said, the machine is not even ATM, na deposit machine dem dey call am cos it can't dispense, it has been programmed only to deposit and not to dispense.


na only GTB get am sha

Oh really? That's cool but what if the machine malfunctions or it tears some of the naira notes as the OP has said, who bears the loss
Re: The New Method Of Depositing Cash In Banks by JDhotral4: 9:29am On Aug 06, 2015
Not today, since 3yrs till now
Re: The New Method Of Depositing Cash In Banks by Harkinyhemmy(m): 9:30am On Aug 06, 2015
b4 the machine accept the money ehn, it must have reject up to 3 times. GTB are really trying thou

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Re: The New Method Of Depositing Cash In Banks by engrhorla(m): 9:30am On Aug 06, 2015
GTBank has e-bank in big cities.

E.g on Adeniran Ogunsanya, Surulere, Lagos, Saka Tinubu st, VI, Lagos, Zone 3 area, Wuse Abuja.

Thr are normal ATM machines and thr r some for d purpose of deposit.

A security man is always available in d facility.

What I noticed when I used d one @ Adeniran ogunsanya is d@ it kinda selects mint cash.

To deposit 50k in 500naira notes took a while..
Eventually about nine 500naira notes were rejected.
Re: The New Method Of Depositing Cash In Banks by Boyooosa(m): 9:30am On Aug 06, 2015
how much will i be credited if i deposit 10,000 mutilated naira or 10 N1,000 fake naira? Just busy finding the flaws of the system...... anyway Gtb is the Pace Setter, thats why they are my choice.m UP GT!

1 Like

Re: The New Method Of Depositing Cash In Banks by OZAMMS(m): 9:31am On Aug 06, 2015
datguru:
Innovative if you ask me. Not like one yeye thing called self services in firstbank, very boring. They will ask you to stamp your teller by yourself using their machine, then drop it inside a leather and cast it on something that looks like ballot box, not conforming the account number or teller for errors. At the end of the day, you are lucky and correctly filled your teller you will get a credit alert by 2 am midnight
Incase You dont know first Bank started the Atm deposit thing l'île 3years ago,the drop box Is Just another way of decongesting the banking hall and also safe your time
Re: The New Method Of Depositing Cash In Banks by arabianights: 9:32am On Aug 06, 2015
you forgot to add that the machine is sensitive to old notes and you might have to make several attempts before you succeed
Re: The New Method Of Depositing Cash In Banks by Boyooosa(m): 9:34am On Aug 06, 2015
OZAMMS:
Incase You dont know first Bank started the Atm deposit thing l'île 3years ago,the drop box Is Just another way of decongesting the banking hall and also safe your time
That Drop Box thing sef, if someone fills N10,000 and drop N7,000 in the box, what happens?
Re: The New Method Of Depositing Cash In Banks by Osyxcel(m): 9:34am On Aug 06, 2015
honeric01:


Not only GTB, Sterling now offer it.

Oh..Okay, never knew. Thanks
Re: The New Method Of Depositing Cash In Banks by CHERIPH: 9:35am On Aug 06, 2015
veekid:
e no new to me jor


u can deposit more than 10,000 contrary to what the op said, the machine is not even ATM, na deposit machine dem dey call am cos it can't dispense, it has been programmed only to deposit and not to dispense.


na only GTB get am sha

You be Olodo, the machine performs two different operation cos it haas two cash slots. one for deposit and the other dispense. Though, it is a special atm machine. finally, I no no as e dey go for naija as na abroad I dey use am ooo
Re: The New Method Of Depositing Cash In Banks by JayJustus(m): 9:36am On Aug 06, 2015
see Nigerians reading culture... I'm not in the country since 2012 and in early 2013 I read about it and came home and saw it.... see as the op is saying it like it's tech of the year...Dundee united
Re: The New Method Of Depositing Cash In Banks by adultiph: 9:36am On Aug 06, 2015
Well that machine has been in first-bank Marina for more than one year and people has been using it.
So i dont think is only GTB


veekid:
e no new to me jor


u can deposit more than 10,000 contrary to what the op said, the machine is not even ATM, na deposit machine dem dey call am cos it can't dispense, it has been programmed only to deposit and not to dispense.


na only GTB get am sha
Re: The New Method Of Depositing Cash In Banks by Dindondin(m): 9:36am On Aug 06, 2015
vivaciousvivi:
Dindondin,That's not new.
First bank has had deposit-taking ATMs for a while now.
I used it in 2012 myself once at their Motorways Ikeja Branch office.
No biggie
yeah, no biggie.
saw it last week. some people haven't heard about it at all.
Re: The New Method Of Depositing Cash In Banks by LEAFLET(m): 9:37am On Aug 06, 2015
Where have you guys being?? This has being in practice for more than a year now.. The only three banks in Nigeria that you can deposit theough ATM are first bank, gtb and assess bank!!!
Re: The New Method Of Depositing Cash In Banks by agabusta: 9:37am On Aug 06, 2015
veekid:
e no new to me jor


u can deposit more than 10,000 contrary to what the op said, the machine is not even ATM, na deposit machine dem dey call am cos it can't dispense, it has been programmed only to deposit and not to dispense.


na only GTB get am sha

It is still called an ATM, which means Automated Teller Machine.

The name ATM does not mean it's only for dispensing. Deposit is also part of teller functions.

1 Like

Re: The New Method Of Depositing Cash In Banks by misspicy(f): 9:38am On Aug 06, 2015
khassy:
UBA bank no fit get this kind tin

usele.ss bank undecidedundecided
Asin UBA is d worst bank so far...gosh their service is so slow...

1 Like

Re: The New Method Of Depositing Cash In Banks by CHERIPH: 9:40am On Aug 06, 2015
abatically:


u be learner? GTbank Opebi has been doing this for more than 2 years now and I use it fequently especially on weekends. And I don't see any risk involved, it has been available in other countries for many many years. and who told u it can only be used to deposit N10,000 and below? I have used it to deposit 100k, just make sure the notes are neat and well arranged.

You are right guy, I have spent over two years in abroad and I have never been to the bank to deposit or withdraw. that is what I use always, and u can deposit as much as 500k equivalent to naira.
Re: The New Method Of Depositing Cash In Banks by Tintinnoty(m): 9:40am On Aug 06, 2015
datguru:
Innovative if you ask me. Not like one yeye thing called self services in firstbank, very boring. They will ask you to stamp your teller by yourself using their machine, then drop it inside a leather and cast it on something that looks like ballot box, not conforming the account number or teller for errors. At the end of the day, you are lucky and correctly filled your teller you will get a credit alert by 2 am midnight
used this method 2 sent cash 2 a frnd on monday, I was warried when she kept calling that she did not get any alert until around 5pm. To me this method is 2 risky
Re: The New Method Of Depositing Cash In Banks by davidque007(m): 9:40am On Aug 06, 2015
GTB has been operating this deposit method for some time now
Re: The New Method Of Depositing Cash In Banks by mavinc4u(f): 9:43am On Aug 06, 2015
Can it be used to deposit dollar to domiciliary account?
Re: The New Method Of Depositing Cash In Banks by Nobody: 9:45am On Aug 06, 2015
Dindondin:
There new method of depositing cash in Banks is either the use of ATM.
I witnessed this last week Friday at a GTBank and the practice has not stopped.
But I don't think other banks have started this.

How it works:
* You can use it to deposit N10,000 and below. The denominations must be in N500 or N1,000.

* To deposit, you have to type the banks general pin of 0000 and press the action. eg: deposit. Then you ll type the account number to deposit the cash, the phone number of the depositor. The machine will open its deposit hole and instruct you to place in your cash and you ll type the amount you are sending.

* It will notify you by showing you the full names and account number of the recipient which you ll v to confirm with the yes or no buttons.

* After this, the machine will credit the account of the receiver.

Note:
You must arrange your cash in a straight way so that it can enter the machine. Failure to do this will result in cash ejection. During this process, your cash may get rough or torn.
Last Bullet
The process is fast but can be risky because aside the security camera that records when someone was depositing, no one else is there to witness the day the machine malfunctions. Also, it may be risky to use it at odd hours like early in the morning, late at night or during quiet times like environmental sanitation day or curfew times.



Even though am a GTB account holder with 12years banking experience with them under my belt I must admit first bank pioneered it and are better at it for the following reasons:
1. I live in Abuja, Gtbank has less than that 10 e-centres you can deposit cash via the deposit machine. The ones I know are UTAKO, AYA, and Maybe Wuse. While almost if not all first bank branches have deposit machines.

2. With GTB you must be an account holder with an ATM card but first bank has made it an all comers affair. Whether the or not you are their customer you can use the service.
3. GTB e-centres open from 7am to 6pm whereas first bank ATM/Deposit Machines are available 24/7 provided 'there is network'.

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Re: The New Method Of Depositing Cash In Banks by crisycent: 9:45am On Aug 06, 2015
Old level when dem take dey play for Souty
Re: The New Method Of Depositing Cash In Banks by Daresh(f): 9:45am On Aug 06, 2015
Dindondin:
There new method of depositing cash in Banks is either the use of ATM.
I witnessed this last week Friday at a GTBank and the practice has not stopped.
But I don't think other banks have started this.

How it works:
* You can use it to deposit N10,000 and below. The denominations must be in N500 or N1,000.

* To deposit, you have to type the banks general pin of 0000 and press the action. eg: deposit. Then you ll type the account number to deposit the cash, the phone number of the depositor. The machine will open its deposit hole and instruct you to place in your cash and you ll type the amount you are sending.

* It will notify you by showing you the full names and account number of the recipient which you ll v to confirm with the yes or no buttons.

* After this, the machine will credit the account of the receiver.

Note:
You must arrange your cash in a straight way so that it can enter the machine. Failure to do this will result in cash ejection. During this process, your cash may get rough or torn.
Last Bullet
The process is fast but can be risky because aside the security camera that records when someone was depositing, no one else is there to witness the day the machine malfunctions. Also, it may be risky to use it at odd hours like early in the morning, late at night or during quiet times like environmental sanitation day or curfew times.



Pleas what decade did you come from? Gtb has been doing this for quite some time now. About 2 yrs or more.
Re: The New Method Of Depositing Cash In Banks by mikkypel(m): 9:45am On Aug 06, 2015
Since they debit me for ATM charges when I withdraw, then I must debit the cashier stress by taking the money to them, the one I prefer now is for me to call them and they would come to my house, collect the money and go and pay in their bank even if the charges for transportation is #200, it is okay than the stress of queuing.. We would call that home transaction
Re: The New Method Of Depositing Cash In Banks by deebsman1(m): 9:46am On Aug 06, 2015
been using it at GTbanks oyin jolayemi, VI for donkey months.
Re: The New Method Of Depositing Cash In Banks by dualsurvey: 9:46am On Aug 06, 2015
steffans:
Is that new?

Its been on for some time...

Most first bank branches have at least one ATM for depositing

Nigerians dont use that option at all...
U're very right. It's been around for some times now. I could remember when I was serving in the North in 2012 (Sokoto), I used it for deposit all through with 1st bank. It's very ok and fast. Those hausas that are into business use it very well over there, cos they don't have d time to queue up in d bank. U can deposit more than 10k @ a time, I've once deposited 20k @ a go, but dnt know if it can accept beyond that.
Re: The New Method Of Depositing Cash In Banks by Nobody: 9:48am On Aug 06, 2015
Done same with Access Bank longtime ago.
Re: The New Method Of Depositing Cash In Banks by Dindondin(m): 9:50am On Aug 06, 2015
Daresh:


Pleas what decade did you come from? Gtb has been doing this for quite some time now. About 2 yrs or more.
Don't ask me or anyone that shares info like the one you quoted insulting question?
I lived in your decade.
If you v known about this since 2 years ago, it's a shame you v not shared it online
Re: The New Method Of Depositing Cash In Banks by stpat1(m): 9:52am On Aug 06, 2015
Its been on for over 2 years now in the first bank branch i my area
Re: The New Method Of Depositing Cash In Banks by stnkembu(m): 9:53am On Aug 06, 2015
how much will i be credited if i deposit 10,000 mutilated naira or 10 N1,000 fake naira? Just busy finding the flaws of the system...... anyway Gtb is the Pace Setter, thats why they are my choice.m UP GT!

The machine has the tendency of detecting fake notes. For mutilated notes, u run the risk of having such notes shredded by the machine 'cos of the numerous compartments the money will pass thru or the machine will out rightly reject them.

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