Interoperable Cash Deposit (ICD): A Breakthrough in Banking Accessibility and Convenience

Banking is entering a new era of customer convenience as customer expectations grow banks are introducing more streamlined and accessible services. One such innovation is the Interoperable Cash Deposit (ICD) solution, which offers customers a seamless way to deposit cash into their own or third-party accounts at any participating bank’s cash deposit machines (CDMs) or cash recyclers. This solution is designed to increase accessibility, especially for individuals in rural and semi-urban areas where access to traditional banking infrastructure may be limited.
Enhancing Convenience with Interoperability
The ICD solution allows customers to enjoy an unprecedented level of convenience through its interoperability feature. Customers can make deposits without the need for physical cards, using only their mobile devices. Deposits can be made through multiple identifiers, such as the beneficiary’s mobile number linked to UPI, Virtual Payment Address (VPA), or account number and IFSC code. This flexibility ensures that both individual and third-party transactions are swift and hassle-free.
The user journey is simple. Customers select the “UPI cash deposit” option at a CDM, scan a dynamic QR code displayed on the machine using their UPI app, and authorise the transaction through UPI PIN. After authentication, the customer deposits the cash, which is instantly credited to the beneficiary’s account. This process, secured by UPI’s robust infrastructure, eliminates the need for card-based transactions, making the system more accessible to customers across different regions.

A Game Changer for Rural and Semi-Urban Areas
One of the key advantages of the ICD solution is its relevance to rural and semi-urban areas, where traditional banking access points, such as branches or ATMs, may not be readily available. With the rise of UPI-enabled services, the ICD service bridges this gap by offering greater flexibility and reach to these underserved regions. Customers can make deposits at CDMs regardless of the bank they belong to, provided the machines are part of the participating network. This not only broadens the banking ecosystem but also empowers customers in remote locations with easy access to banking services.
Key Features and Benefits of UPI-ATM ICD Service
The ICD solution offers several significant features:
- Interoperability: Customers can deposit cash into accounts across different banks using a UPI-enabled app without needing a physical card.
- Cardless Transactions: Transactions are carried out using UPI identifiers, such as mobile number, VPA, or account number and IFSC.
- Secure and Efficient: The process involves scanning a dynamic QR code, ensuring secure authorisation and instant credit to the designated account.
- Limitations: Transaction amounts are capped at Rs. 50,000 per transaction, and limits vary based on the customer’s bank policies.
This seamless approach to cash deposits ensures that banks can cater to a diverse customer base, particularly those who may not have easy access to traditional banking services. It also supports third-party deposits, making the process highly versatile for users.
Transforming Banking with Cutting-Edge Solutions
By adopting the ICD solution, banks are embracing a modern and forward-thinking approach to banking. Not only does this improve customer satisfaction through greater convenience, but it also helps banks enhance their service offerings in underserved regions. This initiative demonstrates the banking sector’s ongoing commitment to innovation, delivering solutions that align with the digital-first mindset of today’s consumers.
The Interoperable Cash Deposit (ICD) service is set to revolutionise the way customers interact with banking services. Through its cardless, UPI-powered transactions, and interoperability across various banks, ICD stands as a key milestone in the evolution of banking convenience, empowering customers and reinforcing the banking sector’s dedication to accessible, modern solutions.

Banking is entering a new era of customer convenience as customer expectations grow banks are introducing more streamlined and accessible services. One such innovation is the Interoperable Cash Deposit (ICD) solution, which offers customers a seamless way to deposit cash into their own or third-party accounts at any participating bank’s cash deposit machines (CDMs) or cash recyclers. This solution is designed to increase accessibility, especially for individuals in rural and semi-urban areas where access to traditional banking infrastructure may be limited.
Enhancing Convenience with Interoperability
The ICD solution allows customers to enjoy an unprecedented level of convenience through its interoperability feature. Customers can make deposits without the need for physical cards, using only their mobile devices. Deposits can be made through multiple identifiers, such as the beneficiary’s mobile number linked to UPI, Virtual Payment Address (VPA), or account number and IFSC code. This flexibility ensures that both individual and third-party transactions are swift and hassle-free.
The user journey is simple. Customers select the “UPI cash deposit” option at a CDM, scan a dynamic QR code displayed on the machine using their UPI app, and authorise the transaction through UPI PIN. After authentication, the customer deposits the cash, which is instantly credited to the beneficiary’s account. This process, secured by UPI’s robust infrastructure, eliminates the need for card-based transactions, making the system more accessible to customers across different regions.

A Game Changer for Rural and Semi-Urban Areas
One of the key advantages of the ICD solution is its relevance to rural and semi-urban areas, where traditional banking access points, such as branches or ATMs, may not be readily available. With the rise of UPI-enabled services, the ICD service bridges this gap by offering greater flexibility and reach to these underserved regions. Customers can make deposits at CDMs regardless of the bank they belong to, provided the machines are part of the participating network. This not only broadens the banking ecosystem but also empowers customers in remote locations with easy access to banking services.
Key Features and Benefits of UPI-ATM ICD Service
The ICD solution offers several significant features:
- Interoperability: Customers can deposit cash into accounts across different banks using a UPI-enabled app without needing a physical card.
- Cardless Transactions: Transactions are carried out using UPI identifiers, such as mobile number, VPA, or account number and IFSC.
- Secure and Efficient: The process involves scanning a dynamic QR code, ensuring secure authorisation and instant credit to the designated account.
- Limitations: Transaction amounts are capped at Rs. 50,000 per transaction, and limits vary based on the customer’s bank policies.
This seamless approach to cash deposits ensures that banks can cater to a diverse customer base, particularly those who may not have easy access to traditional banking services. It also supports third-party deposits, making the process highly versatile for users.
Transforming Banking with Cutting-Edge Solutions
By adopting the ICD solution, banks are embracing a modern and forward-thinking approach to banking. Not only does this improve customer satisfaction through greater convenience, but it also helps banks enhance their service offerings in underserved regions. This initiative demonstrates the banking sector’s ongoing commitment to innovation, delivering solutions that align with the digital-first mindset of today’s consumers.
The Interoperable Cash Deposit (ICD) service is set to revolutionise the way customers interact with banking services. Through its cardless, UPI-powered transactions, and interoperability across various banks, ICD stands as a key milestone in the evolution of banking convenience, empowering customers and reinforcing the banking sector’s dedication to accessible, modern solutions.