Guidelines from Cheque deposit kiosk

In these days so many fraud activities are going on. fraud is attempting to withdraw money with a non-genuine cheque.

Types of cheque fraud are:

• Forgery:Signing and using a cheque without permission is the forgery.

• Counterfeit: A more involve fraud than forgery. Counterfeit cheques are manufactured or printed .

• Alteration: If a genuine cheque is intercepted and any of the details changed, it is said to be altered.

• The Kiosk machine is typically made up of the following terminals:

• CPU : To control and manage the user interface and transaction devices.

• Magnetic card reader or chip card reader: To identify the customer.

• PIN pad  or keypad: It is similar in layout to a touch tone or a calculator keypad, it is manufactured as part of a Secure cryptoprocessor, usually within a secure enclosure.

• Touchscreen display: it is used by the customer for the transaction.

• Function key buttons: Usually it will be placed closer to display or a touchscreen (used to select the various aspects of the transaction)

• Record printer: A record of the transaction has been provided with this to the customer.

• Vault: The machinery requiring restricted access will be placed separately.

• Housing: For aesthetics and to attach signage too.

• Sensors and indicators

How does Cheque deposit kiosk look like?

In Earlier days, kiosk cash machine was focused on making security focused on making the terminals was much vulnerable to physical attack. But now they are effectively secured with dispenser mechanisms.

Cheque deposit kiosk will be placed inside to the air-conditioned rooms with a security along with the Payment machines. As users can walk up to these terminals and can clear get clear the cheque. It eliminates the need of waiting in a long queue for clearing the cheque. Usually, cheque box is placed in front of the bank. In those, boxes people can place it in that. Bank people will be collecting those cheques at regular interval for clearing. As per the rules of RBI, every bank should provide a receipt for every transaction to the customer as a proof of transaction with that user can track their transaction details.     

Cheque deposit kiosk

In India banking has been all about branches. A few years back it was imagined that banking could not be done from outside or another bank branch. But banking system in India has completely involved as it provides several types of remote monitoring and operating channels.The main intention behind providing all these extra kind of services to customers is to make it convenient for the customer, operate securely, save service cost to the bank and operate remotely.So only this self-service terminal also introduces to eliminate the human intervention or without interacting with the bank tellers customers can make their things done remotely.

cheque deposit kiosk

The Banking in India has introduced a closed-door air-conditioned ATM in the outlet  . Through this, the customers can make the transactions done such as cash depositing, cash withdrawing, balance enquiry, bill payments and mobile top-ups.In the same way, Cheque box will be placed in front of every bank to help the customers from waiting to clear the cheques by standing in a queue. Customers can put their cheque’s which need to be cleared into the cheque box. Bankers will be regularly taking that cheque box and they will be cleared.

The cheque deposit kiosk has been introduced, which will be like bill payment and  cash depositing kiosk using which user can clear their cheque by submitting through one of the terminals of the kiosk. cheque deposit kiosk is a self-service terminal which does the task without human intervention.

What lead to the invention of Cheque deposit kiosk?

Large number of customers walk‐in for depositing cheques   :

• Customers were hesitating to deposit cheques in drop boxes due to the absence of acknowledgement receipt from the bank they deposited.

• Reserve Bank of India (RBI) mandate requires cheque receipt acknowledgement as mandatory  .

• Long queues lead to dissatisfied customers.  

• Minimise human intervention costs for Cheque Collection Operation.

• Convenience to customer, can deposit cheque 24 x 7 and collect receipt

As per the rules of Reserve bank of India, every bank should provide a receipt for every deposit. so that customer can track the transaction details and can have it like proof for his transaction in case any further failure occurs.