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.
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.
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.