Benefits of using new generation ATM

The new generation ATM or CDM machine, also known as Cash Deposit Machine in English, is an automatic electronic deposit device (Autobank) or also known as electronic bank tellers, with many automatic features to support customers such as: depositing money, withdrawing cash, transferring money, paying bills for goods and services, inquiring about account information, changing PIN codes, looking up card transaction information or other transactions. In addition to the features of regular ATMs, CDM machines also have the outstanding advantage of transferring cash into accounts, making savings deposits through the machine similar to transactions at the counter. Currently, most banks in Vietnam such as Agribank, Vietinbank, Sacombank, Dong A, TP Bank, ACB , BIDV, VIB, HDBank, Ocean Bank, Bac A Bank, Lien Viet Post Bank... have CDM machine systems to serve customers.

To better serve the needs of customers, the Ha Nam Branch of the Joint Stock Commercial Bank for Investment and Development (BIDV) has installed a CDM machine, initially attracting many customers to make transactions. Mr. Le Viet Dung, Lam Ha Ward (Phu Ly City) said: Compared to the old ATM, the new generation ATM has many advantages, can help customers save, deposit money into personal accounts and perform many other transactions. With the above features, it will be very convenient for customers when making transactions, especially on holidays, they can still save or transfer cash into their accounts and perform other transactions. Since commercial banks installed the new generation ATM, I often use the transaction to transfer cash into accounts and when I save a few tens of millions of VND, I transfer the savings to the bank. All operations are quick and very convenient.

According to Ms. Duong Thi Ngoc Lan, Director of BIDV Ha Nam Branch, currently, depositing savings via ATM is a form of savings that BIDV wants to bring to customers. Depositing savings via ATM is extremely simple, convenient and saves a lot of time. Accordingly, customers do not need to go to BIDV branches or transaction offices but can still open a savings account via ATM. When the deposit expires, the entire principal and interest will be automatically transferred to the customer's ATM account. In case the customer wants to close the savings deposit before maturity, they just need to go to BIDV branch to submit a request form and the deposit will only enjoy non-term interest.

Benefits of using new generation ATM — **Customers deposit savings at BIDV's new generation ATM.** Photo: Hoa Hau

The steps to deposit money via ATM are as follows: Insert the card into the slot and enter the password; click to deposit money into the account on the ATM screen; insert money into the slot below the screen horizontally; you choose whether to print a receipt or not and receive the card back; the machine counts the money and displays a confirmation screen; the machine will notify you that you have successfully deposited cash, how much money is in the account. Then R-ATM asks you if you want to make another transaction or not; notify the end of the transaction. R-ATM returns the card to the customer. The accepted denominations for transactions are 50 thousand VND, 100 thousand VND, 200 thousand VND and 500 thousand VND and each transaction deposits a maximum of 200 notes/time.

According to experts in the banking industry, although there are many modern features and high security, depositors still need to pay attention to a few points when making savings transactions at ATMs. That is to pay attention to the surroundings, especially cover your hand when entering the PIN code to limit bad guys from taking advantage of loopholes to steal money in the account and if you suspect that your password has been leaked, you should immediately go to another ATM of the nearby bank to change the PIN code.

However, currently, not many customers are confident in making savings deposits at ATMs for many subjective reasons such as: fear of losing money, fear of not having documents, fear of making mistakes, etc. To overcome the above psychological concerns, banks are currently upgrading many security services as well as launching a number of new programs to improve customers' recognition of depositing money via ATM cards.

According to the synthesis of the State Bank of Ha Nam Province Branch, by the end of June 2023, the whole province had 1,465 units paying salaries through accounts, of which 853 units received salaries from the state budget; the number of individuals receiving salaries through accounts was 145,417, of which 32,159 received salaries from the state budget. To date, commercial banks have also installed 132 ATMs and 611 POS machines. In the first 6 months of 2023, payment activities of credit institutions in the area took place safely and smoothly; ATM and POS systems operated stably, service quality was invested and improved.

In the coming time, commercial banks will continue to install new generation CDM ATMs to replace conventional ATMs serving customers. With many safety features, high security and fast transaction time, it promises to receive more trust from users.

Tran Huu

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