ComBank enables bill payments via Cash Recycler Machines

Commercial Bank in partnership with Sri Lanka’s leading utility companies, mobile operators and insurance companies has launched a bill payment facility through its state-of-the-art Cash Recycler Machine (CRM) network, enabling customers to make their payments conveniently and securely.

The Bank said its 265 Cash Recycler Machines spread across the country are equipped with many features that provide 24-hour super-convenient service to customers and are the modern-day mini Banks that provide all kinds of day-to-day banking services to its customers.

A simple to use three-step process ensures that a customer completes the bill payment transaction seamlessly within a couple of minutes, the Bank said. The customer selects the ‘Cardless Deposit’ option in the CRM home screen and then selects the ‘Bill Payments’ option. After bill number validation by the system, the customer is asked to deposit cash rounded off to the nearest Rs 100. The billing account is updated instantly as Commercial Bank directly connects with the respective companies to update the accounts. A receipt which is recognised by the billing companies is provided by the CRM after successfully completing the transaction.

Users can pay their bills of Airtel, Ceylon Electricity Board (CEB), Dialog, Dialog TV, Hutch, Lanka Bell, LECO, Mobitel, National Water Supply and Drainage Board (NWSDB), Peo TV and Sri Lanka Telecom (SLT) through these upgraded CRMs, the Bank said.

Validation of the bill number entered by the customer is the unique feature of this service provided by Commercial Bank. This validation will ensure that the customer’s payments are correctly updated in the billing company systems. Billing companies too do not have to spend time on reconciliation of invalid and unidentified deposits made by customers.

In addition to monthly utility and mobile bills, customers can also pay their insurance premiums and lease payments via the CRM network of Commercial Bank.

The Commercial Bank of Ceylon was the first bank to integrate a fully-operational CRM in the country in 2016. Customers can make deposits, transfer funds, withdraw cash, request cheque books, check balances of their accounts and access many other features via the Bank’s CRMs.

Commercial Bank has one of the largest ATM/CRM networks in the country comprising of 931 automated machines. The ATM network accepts Visa, MasterCard, LankPay, JCB, UnionPay, Diners and Amex cards.

Sri Lanka’s first fully carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches in Sri Lanka. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.