ComBank goes green launches paperless banking

The Commercial Bank of Ceylon has commissioned the first of a new generation of automated cash deposit terminals that completely eliminates 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 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, a Bank official said. The new green banking channel was commissioned by Managing Director and CEO, Commercial Bank, Jegan Durairatnam recently.

The bank official said the bank hopes to commission more such machines across its branch network to significantly reduce the use of paper in deposit transactions. "This new machine enables 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 at all," he said.

Every deposit will be confirmed on the machine's screen and customers will receive an electronic or printed receipt if needed, acknowledging their deposits, the official said.