BoB launches country’s first cash deposit machine

The machine will now enable clients to make deposits directly into their accounts at their convenience

Yenten Thinley
from Thimphu

Walking to a bank and painstakingly waiting in queue to deposit cash could be a thing of the past now, that is, if you are a Bank of Bhutan (BoB) customer.

BoB yesterday launched the country’s first Cash Deposit Machine (CDM) at its branch office in City Mall, Thimphu.

BoB has installed two machines on a trial basis. Each machine costs the bank Nu 2.17M.

The Chief Executive Officer of the bank, Pema N Nadik, said the launch of the CDM further confirms BoB’s commitment and continued efforts to improve customer experience by making banking transactions convenient for the clients. “With the cash deposit functionality of the CDM, together with other banking channels like Internet Banking and M-BoB, clients will now enjoy 24×7 banking facility in its true sense,” he said.

The CDM will now enable clients to make deposits directly into their accounts at their convenience round-the-clock.

The CDM will accept Bhutanese currency of Nu 50, Nu 100, Nu 500 and 1,000, and will also detect and reject counterfeit, soiled, folded, mutilated, and torn notes, and all foreign currency notes through its multilevel security features.

The Head Alternate Delivery Channel of BoB, Tashi Dendup, said that INR and foreign currency notes, all mutilated and torn notes, denominations below 50, stapled and folded notes, counterfeit note and scramble and scribble notes will be rejected by the CDM. “Only BOB cardholders can deposit the money,” he added.

According to a BoB press release, the machines have been installed in the branch premises to ease the introduction of the new service and assist clients in using the machines. Once the users are familiar with the features of the machine, the Bank plans to move them to off-site locations for the convenience of its clients and harness the full potential of the machines.