November 17, 2016
ATM Deposit by Code – a service without a card
ATM Deposit by Code is a technology which allows deposits at ATMs without using a plastic card, but an identification code provided by the bank instead. The objective is to create solutions that help establish cashless branches of banks, with increased efficiency in terms of time and costs.
ATM Deposit by Code allows cash deposits to be made to the current and savings accounts of private clients, as well as to the current accounts of legal entities.
This service is designed for two target segments:
- Non-client depositors who can make a cash deposit to an account held with your bank by another person or entity.
These depositors are not account holders but they must be registered as clients. A code is assigned to them for the purpose of performing the deposit transaction. The deposit code is valid for a specific time period and for a specific amount.
- Existing clients who, for any reason, do not have a card and need to make a deposit to their account or to another account held with your bank. To be able to use Deposit by Code, clients must first register for the service. They are then given a code allowing them to perform deposit operations within the limits (time and amount) set by the bank.
ATM Deposit by Code works on any ATM that supports cash deposits, enabling your customers to perform deposit operations at any time of the day or night.
How does it work?
The deposit code is normally a multi-usage code with a certain validity, e.g. for a period of 1 to 10 days, and for a certain limited amount. However, a one-time usage solution is also available. The process is very simple: The client receives the deposit code in printed form and/or by SMS. At the ATM, he/she selects “Cardless transaction”, then enters his/her deposit code. He/She can then select an account and deposit cash into it by manually feeding it into the ATM.
The validity of a code and the amount limit can be parametrised as needed. Also, a code can be temporarily blocked, and, if needed, it can be cancelled.
This service has been implemented in ProCredit Bank Georgia and is available for all our customers upon request.