Tired of visiting banks to exchange Rs 2000 notes? Amazon is now accepting cash deposits at doorstep

The Reserve Bank of India (RBI) recently announced its decision to withdraw the Rs 2000 denomination banknotes from the Indian economy. In addition, it has requested citizens to exchange their Rs 2000 notes at banks. Although the notes will not be discontinued immediately, as was the case with the demonetization in 2016, going to the bank to change currency notes is a tiresome task. To help people with this, Amazon has recently introduced a solution that allows individuals to exchange their Rs 2000 notes and add the amount to their Amazon Pay cash at their doorstep.

Amazon has introduced an Amazon Pay Cash Load system, which allows people to deposit their cash in Rs 2000 notes right at their doorstep. The system allows loading up to Rs 50,000 per month in Amazon Pay balance and using it for online purchases, Scan & Pay at stores, or shopping on Amazon. Amazon Pay also allows users to transfer their money to their bank account or send it to friends and family.

How to deposit Rs 2000 notes in Amazon Pay balance

Let's take a look at how to deposit your Rs 2000 denomination notes in Amazon Pay balance.

• First, place an order on Amazon for any product you wish to purchase. Ensure that the order is eligible for Cash Load, which allows you to deposit cash into your Amazon Pay balance during delivery.
• During the checkout process, select the "Cash on Delivery" option. This option allows you to pay for your order in cash upon delivery.
• When the delivery associate arrives, inform them that you would like to deposit cash into your Amazon Pay balance. Hand over the cash to the associate, including the Rs 2000 notes. They will verify the amount and process the deposit.
• The delivery associate will instantly deposit the same amount of cash you handed over into your Amazon Pay balance account.
• Once the transaction is completed, you can check your Amazon Pay balance to confirm that the cash deposit has been successfully credited to your account. You can view your balance on the Amazon website or mobile app.

Meanwhile, the Reserve Bank of India (RBI) has announced that Rs 2000 denomination currency notes will gradually phase out from circulation. Individuals who hold Rs 2000 notes can either exchange them or deposit them in any bank beginning on May 23, 2023. This facility will remain open until September 30, 2023. However, it is worth noting that despite the phase-out process, Rs 2000 currency notes will retain their status as Legal Tender even after September 30.