The Commercial Bank of Ceylon has commissioned the first of a new generation of automated cash deposit terminals that completely eliminate the use of paper, in another example of the Bank’s continuing investment in Green technology and sustainable development.
Dispensing with deposit slips and envelopes, the new machine installed at the Bank’s Rajagiriya branch has a stacker that can accept and count up to 200 notes at a go, enabling customers to make deposits of up to Rs.200,000 at a time into savings or current accounts, 24 hours of the day.
The same machine may also be used to pay dues on Commercial Bank credit cards, the Bank said.
The new Green Banking Channel was formally commissioned by Commercial Bank Managing Director/CEO Jegan Durairatnam on 30th June 2015. The Bank said it plans to commission more such machines across its branch network, to significantly reduce the use of paper in deposit transactions.
“This new machine enables our customers to join the Bank in its efforts to save trees and help the planet, while enjoying even greater convenience than before,” Commercial Bank Chief Operating Officer S Renganathan said. “With no deposit slips to fill in, their time at the terminal will be reduced even further, making for shorter or no queues.” The machine accepts four denominations of currency notes – Rs.5000, Rs.1000, Rs.500 and Rs.100. Soiled or damaged notes, notes of other denominations or foreign currency notes will not be accepted and will be returned to the depositor via a ‘Reject Tray.’ Coins will also not be accepted.
Customers making credit card payments have the option of inserting the respective cards, or keying in the card numbers prior to placing the currency notes on the stacker.
Every deposit will be confirmed on the machine’s screen and customers will receive an electronic or printed receipt as required, acknowledging their deposits, the Bank said.
Besides its efforts to promote a paperless society by converting more customers to electronic banking systems, Commercial Bank’s environment-related initiatives include programs to reduce the Bank’s carbon footprint through energy saving, energy optimisation and responsible fleet and vehicle management, responsible disposal and recycling of materials, responsible water consumption, the discontinuation of the use of products that emit ozone-depleting substances and protecting the bio diversity in areas where its branches are present.
In recent proactive projects to protect the environment, the Bank funded a groundbreaking initiative to replant damaged corals in the seas off Hikkaduwa, and landscaped one and a half acres of land of the National Hospital premises to minimise environment pollution and improve the mental wellbeing of the patients.