Kiosk banking

The Bank’s initiative of the KIOSK Banking allows customers to undertake different banking transactions without the need for visiting a Bank Branch. Kiosk Banking is basically a service offered by several banks, wherein the people do not have to actually visit the branch in order to do a variety of transactions. This is so because the customer can easily open an account in the bank and operate from any of the nearest Kiosk Banking outlet itself in a hassle-free manner. It is primarily introduced by the Govt. of India as an important concept for boosting financial inclusion, particularly in the rural areas where the customer outreach is not that good and also, the people are uneducated requiring one-on-one assistance.

Having partnered with SBI and Bank of Baroda, Alankit delivers mainstream financial services to the mass bank-excluded Indian public using remote-biometric enabled secure technology through kiosk banking. Customers may open bank accounts and do all types of bank related transactions at an SBI Kiosk Banking outlet or Bank of Baroda Kiosk Banking outlet. These outlets are able to offer end to end functionalities with the process of account opening or any online transaction and there are banks who also offers online kiosk banking at ease. There are a number of advantages of having kiosk online, but these are mainly for the more educated lot to access all services at just a click. Also, the operations through these outlets are absolutely safe and reliable as they are bio-metrically secured and also, a printed acknowledgement for every transaction is given to the respective customer.

The varied banking activities that one can avail through the Kiosk financial services bouquet include the following:
  • Account Opening
  • Cash Withdrawal
  • Cash Deposit
  • Money Transfer

How Kiosk Banking Works?

Any retailer is free to open a no-frills account in a bank for any customer by recording the fingerprint details and capturing a customer’s photograph. All the details along with the other documents are then forwarded to the affiliated bank branches to conduct the further know-your-customer process. When the account is up and running, the customer is enabled to either withdraw, deposit or remit an amount of maximum Rs 10,000 each day via the internet-enabled kiosk branch.

Primary Benefits of Kiosk Banking (Kiosk Banking Online)

Benefits to CSPs (Customer Service Point)

  • Brand Equity of the banks (SBI’s and Bank of Baroda’s)
  • Opportunity for self-employment at ease at the doorstep itself
  • Increased Visibility overall
  • High number of Walk in customers
  • Good incentives in accordance with the performance
  • Significant remuneration figures resulting in financial freedom eventually

Benefits to Customers

  • No Queue
  • DBT/DBTL, Social Security Schemes, Mudra Loans
  • Easily Approachable
  • Banking at one’s doorstep/ nearest location

Kiosk banking offers the following services:

  • Opening of "No-Frill Savings Accounts" through kiosk banking modules
  • Deposit and withdrawal of cash in savings accounts
  • Opening of Term-Deposit, Recurring Deposit and SHG Accounts
  • Money transfers to any bank account
  • Aadhaar enabled deposits and withdrawals
  • DBT enabled facility in accounts
  • Loan lead generation and repayments
  • Home Loans and Loans Against Proper

Frequently Asked Questions About KIOSK-BANKING

How can one locate the nearest SBI kiosk?
Who is the point of contact at Alankit/ SBI for a follow up service after an initial engagement at a Kiosk?
Can one avail kiosk services despite having an SBI account?
Can one avail of public beneficiary schemes run by the Government of India at the kiosk?
What is the procedure for opening new kiosks?
What is the location requirement for opening a kiosk?
What is the nature of the banking services offered through a kiosk?
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