How to Deposit Cash in Canara Bank Account?

Depositing  your money in Bank is one of the basic services you avail being a customer of Canara Bank. Having a bank account is must nowadays. Some people even keep different Bank Accounts with different banks. It is always important that your chosen bank must be near to your accommodation as no one would prefer to deal with traveling along traffic-laden roads to accomplish basic banking functions like Depositing Money, Updating the Passbook etc.

Keeping your extra cash in bank account is the easiest way to keep your cash safe from loss, theft and damage. So, it is important to know about the methods to deposit cash in your Canara Bank Account.

There are two main ways to deposit your Cash in your Canara Bank Account.

1- By Visiting Bank and using Deposit Slip

2-By using Cash Deposit Machine or ATM

By Visiting Bank and Using Deposit Slip

Steps which are needed to be followed while depositing cash in the bank, have been discussed here. Carefully follow the steps always to avoid any mess.

1. Firstly, Visit any branch of Canara Bank situated nearby your location.
2. Collect Pay-in-Slip or Deposit Slip from the Bank Officials.
3. Fill the Deposit Slip with all the required details.
4. After filling your Account Number, Name, Date of Deposit, and Amount of money in words as well as in numbers etc.
5. Fill all the details carefully and Sign under depositor column.
6. Finally, submit this Deposit Slip along with cash to Cash Counter.

Note: From July 1, 2020 according to the new guidelines of Canara Bank, Canara Bank Customers can deposit cash of up to Rs 50,000 without any cost only three times in a month. From the fourth transaction or for cash deposits of over Rs 50,000,  service charges will be Rs 1 per thousand, with a minimum of Rs 50 and a maximum of Rs 5,000 including GST.

By using Cash Deposit Machine or ATM

As technology is booming day by day more and more people are shifting towards using a convenient way of using available banking services. And using Cash Deposit Machine is a blessing for them.

What is a Cash Deposit Machine?

Without waiting in long queue at the cashier’s counter at the bank you can easily choose this method for depositing money. You can deposit money any time by using Cash Deposit Machine but in some cases, if the Cash Deposit Machine is situated inside the bank’s premises then you can avail of the service only in banking hours.

How does a Cash Deposit Machine work?

It’s very simple to use Cash Deposit Machine. It is important to note that only you should have your Debit Card or your bank Account Number.

1. In the case of Debit card, you have to swipe or insert the card into the machine, or in another case you have to enter your Bank Account number manually. So, it depends on the type of machine which is being used.
2. You then need to enter your Debit Card PIN for confirming your id.
3. Then after you need to feed the currency notes into the machine. Each note entry with a denomination will flash on the screen.
4. After confirming the total deposit amount, the transaction will be completed and you will get confirmation on your registered mobile number.

Note:  If you take too long to operate, your transaction will time out. And this process may be hectic sometimes too as in some cases machine does not accept any old/torn/wrinkled notes and also notes may have a tendency to get jammed in the machine. A minimum deposit amount that Cash Deposit Machines accept of Rs. 100/- which has a maximum limit of Rs. 49,000/-

In Nutshell, these are the two simple forms of depositing money in the Canara Bank Account. If you face any difficulty you can contact customer care by writing to [email protected] or by making a call at 080-25580625.