The cashless policy of the Central Bank of Nigeria (CBN) appears to be getting better by the day as banks are also stepping up their games to make transactions less cumbersome and interesting.
Going to the bank to deposit money could be regarded as going to a crowded market place, full of hustle and bustle, especially where the bank is in a strategic location and enjoys high level of patronage.
Guaranty Trust Bank one of the highly patronized banks in the country has been able to fast track banking with its PIN pad device which offers all its account holders a faster and more convenient channel to withdraw and make cash deposits.
The PIN pad is a portable electronic device with a card reader used for processing card transactions.
The PIN pad can be used conveniently at the bank’s branches to deposit and withdraw cash or check account balances.
It is portable, easy to use and as well safe and secure because it only accepts the GTBank Naira MasterCard which uses Chip and PIN technology.
With the PIN pad device, transaction process time is reduced significantly because authenticity of each transaction is confirmed by the customer’s debit card and 4-digit PIN.
The most interesting part is the use of the device for cash deposit. This saves time wasted on queues and gives customers a faster and more convenient banking experience.
To use the PIN pad to make cash deposits, the customer only needs to insert his or her Naira MasterCard into the PIN pad, enter amount to deposit, confirm account to deposit into, give teller cash and collect receipt from the teller.
This way, you do not have to go through rigous of filling the deposit slip, joining the endless queue and waiting grudgingly for your turn, especially when it has to do with your personal account.
Apart from going to the ATM which is usually besieged by bank customers for withdrawals, the PIN pad in same manner can be used for withdrawal in the banking hall.
Same process used in cash deposit is also used for withdrawals using the PIN pad.
The process is simple: Insert your Naira MasterCard into the PIN pad, enter amount, enter your 4-digit PIN, confirm account to withdraw from, collect and confirm cash from the teller, and collect receipt from the teller.