NIC launched 10 cash deposit machines, money can be easily deposited into account

KATHMANDU: In accordance with the long-term strategy of becoming a ‘Digital First Bank,’ this NIC Asia Bank has committed to providing all banking services digitally and has launched 10 Cash Deposit Machines (CDM) across the country.

The bank has launched Cash Deposit Machine (CDM) at New Road Bishal Bazar Branch in Kathmandu, Kamaladi Branch, Khichapokhari Branch, Tripureshwor Branch, Registered Office (Thapathali) Branch, Butbal Branch in Rupandehi, Pokhara Mahendrapul Branch in Kaski, Dhangadhi Chauraha Branch in Kailali, Biratnagar Branch in Morang and Birgunj Branch in Parsa.

You can deposit cash from the deposit machine directly into your own and other people’s accounts using your cable account and mobile number without filling out a form. During banking hours, cash can be deposited into this bank’s account using this machine.

Cash can be deposited in this machine, which can deposit cash based on account number and mobile number, up to a maximum of Rs 99,500 at a time and a maximum of Rs 9,99,500 per day using Rs 500 and Rs 1000 notes.

To increase the security of the depositing process, after the saver enters their mobile number into the machine, they will receive a temporary password (One Time Password-OTP) code on his phone. The cash deposit will only be processed after the saver enters the code into the cash deposit machine.

After you enter the amount, the machine will count it and immediately deposit it in your account, and you will receive notification of the deposit via SMS and a deposit slip.

This machine, which uses new technology and can be deposited quickly without the presence of a bank representative, counts the amount and separates counterfeit notes if they are found.

Customers will no longer have to spend time lining up at the bank’s cash counter to fill out physical forms to deposit cash, according to the bank, once these machines are installed throughout the country.

Furthermore, this bank has decided to expand this service to other areas of the country in the near future in order to make its customers’ essential banking services easier and simpler.

NIC Asia Bank is the bank in the country that has expanded its banking network the most. Across the country, this bank has expanded 359 branch offices, 473 ATMs, 105 extended counters, and 81 branchless branch networks.

This bank has served approximately 25% of the economically active population aged 20 to 50 years out of the total population of the country.

It has paid more than Rs. 19.92 billion in direct and indirect revenue to the Government of Nepal since its inception and more than Rs. 3.41 billion in revenue to the Government of Nepal in the last fiscal year, demonstrating its commitment to responsible banking and supporting the country’s economy and high economic growth.

The bank has established itself as the bank with the most tax filings.

In comparison to other companies in the country, this is the sixth-largest contribution. For financial inclusion, branches are being expanded and operated in remote districts where banks and financial institutions are scarce, such as Mugu, Kalikot, Bajhang, Rukum, Jumla, and Salyan, as well as in more than 34 local bodies where no banks or financial institutions exist.

The bank has established 72% of its branch offices in rural and small urban areas, which house more than 80% of the country’s total population.