How To Start Kiosk Banking, Business commission, registration process
So far, we've discussed a lot of customer service-related businesses, such as how to become a bank friend or how to open a post office franchise.
Today, we'll tell you about another similar business that you can start in your town or city and provide service to.
What Is Kiosk Banking
Kiosks are small internet-connected kiosks where clients can perform a variety of banking services. Our country's banks are opening kiosks in a number of locations.
So that people may conveniently do their banking through online instead of going to a bank branch.
A kiosk machine is similar to an ATM machine, except that instead of simply taking money from the ATM machine, money can also be deposited and sent to any other account.
Those who want to open the kiosks will have to convince people to open no-frills savings accounts (without depositing any money).
They will have to take photographs and fingerprints of people in order to do so, and then send all of this information to the relevant bank.
At the same time, when the bank opens this account, the individual who opens it will be able to deposit, withdraw, and perform other bank-related services through the kiosk branch.
How Kiosk Banking Works
- With Kiosk Banking, the maximum amount that may be deposited in an account is Rs 50,000, and daily transactions are limited to Rs 10,000.
- So, if a customer has to deposit more than Rs 50,000, he must go to the bank's branch, and similarly, if he needs to withdraw more than Rs 10,000, he must also visit to the bank's branch.
Eligibility Criteria for Kiosk Banking Business
- Anyone that have created customer service centres can easily add kiosk banking to their services. In reality, many banks have joined the Government of India's Customer Service Center initiative and are providing kiosk services in these centres.
- Those who are not CSC operator, on the other hand, need not be disappointed because anyone can apply for Kiosk Banking.
- Only those who are at least 18 years old and have finished at least the 12th grade are eligible to apply for Kiosk Banking. Aside from that,
- The candidate should have 100 to 200 square feet of space, as well as a computer, printer, and internet connection.
Location required
The purpose of establishing this type of banking is to provide banking services to areas where bank branches cannot be opened or where bank branches are located in far from locality. If your city, village, or district does not have a bank, you can apply to create a kiosk banking business to make money by doing so.
Benefits of Kiosk Banking
- People will be capable to obtain bank accounts - There are numerous villages and areas in our country where there are no banks and where people are unable to open bank accounts. To connect these people with the bank, kiosk banking has been introduced.
- No long lines - In places where there is only one bank branch, those branches are frequently overcrowded, leading people to wait for hours. At the same time, long queues in the bank will be avoided by moving kiosks similar to ATMs from location to location.
- Earn more money - People who own a shop and wish to earn more money can do so by joining kiosk banking and opening other people's accounts.
- Number of customer will increase - By providing this service to every corner of the country, more and more people will be able to open bank accounts, resulting in an increase in the number of customers and revenues for banks.
Target Audience
The aim of establishing Kiosk Banking is to connect the people of the village with banking so that they can take advantage of various of banking services and quickly complete a number of bank-related activities.
Kiosk Center Offers a Variety of Services –
Many types of banking services are provided to people by opening a Kiosk Banking centre, and at this time, most of our country's banks are providing the Kiosk Banking facility to their customers, and these facilities are as follows.
- Anyone can use the kiosk to deposit money into their account, however the user can only deposit up to fifty thousand rupees.
- In the same way as kiosk banking may be used to deposit money, it can also be used to withdraw money from your account. However, the maximum amount is only ten thousand rupees.
- You can also use them to send money to anyone else who has an account with them.
- Kiosk Banking also allows you to update your passbook, and anyone can use it to open a bank account.
The bank will provide the machine –
The bank whose kiosk you will operate will also provide you with a machine, which you will use to capture prints of people's fingers and photograph photos while opening the account. Besides from that, the bank will provide you with web software that you can use to run other applications.
The person who starts this banking career will earn money through commission, which may vary depending on the bank. For example, if you open an SBI Bank kiosk, you will receive a Rs 10 commission for each savings account you open. Similarly, every transaction amount, i.e. transaction, will receive a 0.5 percent commission.
Important Documents
When applying for this banking, you will be asked for a variety of documents, so have the ones listed below ready.
- set of two passport size photos
- It is required to have PAN cards.
- forms of identification, such as a voter identification card, a driving license, a passport, and so on.
- Proof of address for the shop where you want to open a kiosk banking account
- Proof of residence, such as an electricity bills or a ration card.
How To Apply
You can apply for this banking by going to the branch of the bank that provides this service and filling out the form there, or you can apply for this banking through one of several websites that provide this service.
It is essential to receive it by contacting. However, be careful of fake websites and only engage with genuine sites. At the same time, the following are the links to the websites that provide this form of banking:
Samar Information Technology - A website called Summer Info Tech offers Bank of Baroda, Bank of India, and State Bank of India kiosk banking. Summer Infotech's website, http://www.samarinfotech.com, is where you may apply to open these banks' kiosks.
Pay Point India - Pay Point India is a site that gives kiosk banking. By going to http://paypointindia.com/Banking.aspx, you can apply for State Bank of India Kiosk Banking.
My Oxygen - The My Oxygen company is well-known, and the company also offers State Bank of India kiosk banking. To apply for this banking under this company, go to http://www.myoxigen.com/financial-services/sbi-kiosk.php and follow the instructions.
Conclusion
Many people will be able to earn from the bank's services as a result of the kiosk banking facility, and those searching for work will be able to open them and earn a lot of money.
