15:25, 17 March 2009 Page views 364 views

More Innovation from Citibank – Machine Based Cash Deposits without Needing a Card

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Since 17th March 2009, Citibank clients benefit from another innovation in making cash deposits.  Customers are able to make deposits at more than 50 CDM machines (ATMs with cash deposit functions)without the need for a card.  This provides much more convenience for customers, who are no longer need to queue for a cash-desk transaction.

The service is even available for non-customers (maybe friends or relatives), provided they know the Citibank account number to be credited.  And the service is available in all cities where Citibank operates.

The service is simple to use.  For example, to make a deposit on the RUR current account for the personal loan repayment purpose, client needs to enter RUR current account number, card number or loan account number.  It’s just as easy for a card payment or deposit.

Svyatoslav Ostrovsky, Head of E-business and retail products at Citibank says “We launched this service as a test with two machines. The initial results showed a great many customers successfully using the service and it convinced us that it would save customers time and simplify their banking.”

Importantly, when using this function customers cannot use other CDM functions – like viewing balances, withdrawing money and so on.  These functions are only possible when the card is used.

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