How Kiosk Banks Different from ATMs and How to Apply for CSP BC

Banks and their related services have become part of everyday life. From checking balances to depositing cheques, the bank does it all. Banks have also chosen tools like ATMs in an age of developing tools to make our lives a little easier. But how do Kiosk Banks differ from ATMs, and how to apply for SBI Kiosk Banking?

Kiosk vs. ATM

The Banking Kiosk System was created after the development of the Automated Teller Machine (ATM). As a result, some differences between kiosks and ATMs can be explained by the services offered by the kiosks, such as:

•    Kiosks allow you to make account inquiries not made at ATMs, such as ordering checkbooks.
•    The kiosks also provide customers with customer support tools that link directly to the bank’s help desk.
•    Kiosks provide MIS reports, but this is not the case for ATMs
•    Another major difference between kiosks and ATMs is that, unlike ATMs, kiosks offer check deposit functionality.
•    The kiosks also offer online banking capabilities, allowing users to perform online transactions.
•    The kiosks also have a customer service point or CSP to assist customers.

What are Kiosk banks?

Kiosks allow individuals to access banking functions such as check transfers, transactions, balance inquiries, cash deposits, or transfers. You can do all this without going to a bank branch. This benefits LIGs (Low-Income Groups) as they can access all services without going to the bank. Since these people are not able to keep a minimum amount in their bank accounts, Kiosks that can be taken after successful completion of the Bank CSP Apply process allow them to keep their bank accounts without worry.

Kiosk banking components:

Generally, kiosks are set up as stands at local shops and retailers available in village neighborhoods.A kiosk banking system has two components:

•    Customer Service Point (CSP), and
•    kiosk machine

Customer service points: counters installed in shops with kiosks that enable efficient communication with corresponding private or public banks. Customers may contact CSP to raise concerns regarding any transaction or account action and obtain a resolution.

Kiosk Machine: The second part of the kiosk is the kiosk machine which allows users to perform transactions such as check deposits, balance inquiries, and other banking services. Built-in speaker, panel keys with trackball, touch and non-touch screens, and video camera.

The process to Apply for CSP Bank

•    First, the customer must open a no-frills account.
•    Then you need to go through Know Your Customer (KYC) verification.
•    The corresponding bank carries a KYC checkout to verify the submitted documents.
•    Once the KYC process is completed, individuals are free to use their accounts to transact.

Required documents:
•    Complete the SBI Kiosk Banking application.
•    Identification: Aadhaar, Voter ID, Driving License
•    Proof of address of the dealer where the kiosk will be installed: Electricity or another electricity bill
•    Applicant’s ration card
•    Applicant’s most recent photograph – 2

Who can start a kiosk banking system?

The people who are eligible for Bank CSP Apply procedure to set up a kiosk include shopkeepers, retailers, small business owners, and even individuals.

The eligibility criteria for Kiosk Banking are:

•    Minimum age: 18 years
•    Qualifications: To have passed the 12th Examination
•    The minimum space required to set up a kiosk is 100-200 square feet.
•    Applicants must ensure that the computer and the Internet are ready.

A shopkeeper or small business owner can incorporate a kiosk along with a CSP that requires a small business to obtain MSME registration. The bank must provide the necessary equipment to set up the kiosk hardware, fingerprint scanner, and computer-compatible software.

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