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Cash Deposit Limit: Cash Deposit Machine or Automated Deposit-cum-Withdrawal Machine (ADWM) – is an ATM-like machine that enables depositors to deposit cash into their accounts using an ATM-cum-debit card.
Using this machine you can deposit money into your account instantly without visiting the branch. The transaction receipt provides updates on the amount credited to the account. Meanwhile, it is important to understand that these machines have a certain limit for different banks.
Let's take a look at the cash deposit limits set by various private and public sector banks:
State Bank of India (SBI): Cash deposit limit for SBI is ₹49.99 through cardless deposits and debit cards, and ₹2 lakh if the account is deposited with PAN.
Bank of Baroda: Debit card cash deposit limit is up to ₹2,00,000 per day where PAN is registered and up to ₹49,999 where PAN is not registered in the account. Cardless transaction (by entering account number) limit is up to ₹20,000 per day.
Punjab National Bank (PNB): The maximum amount that a customer can deposit per transaction through this CAA/BNA (Cash Acceptor cum ATM/Bulk Note Acceptor) is ₹1,00,000 or a total of 200 notes. If PAN number is registered in the customer's account, ₹1,00,000 can be deposited. If PAN number is not entered, the limit is ₹49,900.
HDFC Bank: HDFC Bank has a savings account transaction limit of ₹25,000, and a daily limit of ₹2 lakh. Whereas, the transaction limit in current account is ₹1 lakh, and the daily limit is ₹6 lakh. These are cardless deposit limits, while the card-based deposit limit for savings and current accounts is ₹1 lakh for each transaction.
The daily limit is ₹2 lakh (savings account) and ₹6 lakh (current account).
Union Bank of India: Union Bank of India cash deposit machines accept a maximum of Rs 200 currency notes with a maximum value of ₹49,999. With PAN card verification, an additional amount of up to ₹1,00,000 can be deposited per transaction. The cash deposit machine confiscates any counterfeit currency and such notes are not returned to the depositor.