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Stuck In Long Bank Queues? These Startups Have A Solution Ready

Stuck In Long Bank Queues? These Startups Have A Solution Ready
Image credit: Entrepreneur India
Former Correspondent, Entrepreneur Asia-Pacific
3 min read

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Every day local banks and ATM counters are witnessing a huge rush of people, resulting in a shortage of currency. Following the demonetization of Rs. 500 and Rs.1000 currency notes, many assembled in long queues in front of banks and ATM machines to withdraw new currency. However, people in need of cash can now breathe a sigh of relief with various mobile apps and websites helping them in locating an active ATM.These websites and apps allows anyone to add the ATM that is functional in any city.

Making Demonetisation A Bit Simpler

Walnut was started by two engineering friends, Amit Bhor and Patanjali Somayaji, with the aim of managing the day to day expenses, credit card bills,bank accounts and a lot more.  

The app has launched a new feature based on the ATM usage of Indian users through which they help to find a functional ATM with cash nearby. They also try to provide information on the length of the queues at the ATM & the time it was last active. It acts as a powerful money manager app by keeping a track of user’s money spending habit.

Using The Traditional Crowdsourcing Model, another web portal created by IIT Kharagpur graduate, Lokesh Verma collates a list of working ATMs. What makes this portal different from other platforms is the data update feature where it offers user a chance to update the situation of an ATM nearby.

Trace A Functional ATM

A working ATM is probably the top most priority on people's mind now. Being India's largest cash management and payment solution firm, CMS lets users find out the ATMs,banks with cash nearby.The company recently launched its web application called CMS ATM finder, which helps to find out if an ATM is out of cash or not.All you have to do is type your state and city and the website will list out various working ATMs in your location.

Insights On Real Time Cash Availability

Founded by Ex-Yahoo employees, Manjunath Talwar and Abhijit Khasnis, CashnoCash, is a crowdsourced website that was launched 14 November. It isn’t just limited to ATMs or banks but also provides information on post offices across the country. The site supported by Quikr and Nasscom allows people to update the status of banks, ATM and post office in their location.The website is in talks with various ATM operators such as Secure One, Hitachi and CMS for more real-time data inputs.

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