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Soon, encash local and outstation bearer cheque via ATM within minutes.

New Delhi: NCR Corporation, ATM maker and global leader in omni-channel solutions, is soon coming out with ATMs that will dispense cash against a bearer cheque within just minutes.

The cash-dispenser ATM can give instant cash against both local and outstanding bearer cheque. However, in such a cash, both banks will have to agree on the terms of clearance.

NCR Corp has set up a pilot ATM machine in two private banks across Mumbai, Gurugram, Pune and Bengaluru.

How does it work?

At first, you will have to connect the ATM through a live teller. Regarding the interactive teller, the Bank had previously mentioned that it has been designed to provide remote assisted service. Interactive Teller enables creative new branch network distribution strategies. After selecting the required language, you will be directly connected to the Interactive Teller.

Now the Interactive Teller can access all your details remotely. The Interactive Teller will further guide you through the entire process. After depositing the cheque at the prescribed box, you will be asked to submit your documents. You can scan the documents at the ATM itself. After scanning the documents, you will be asked to sign at the screen. Once the verification is done, you will get your required cash. You can also select the denomination of notes as per your preference.

The ATM cash-dispenser will be available 24*7 for consumers.

Other than dispensing cash against cheque, this ATM will also double up as a mini bank branch. Consumers can withdraw card less cash by using their Aadhaar number. To use the cardless facility, you will have to punch in your Aadhaar details and then provide the biometric authentication. You can also deposit cash and make KYC update using the ATM.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Dec 1, 2018
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