Having trouble exchanging Rs 2000 notes? Cash deposits now accepted at Amazon; Know here how?

• Image Credit: Prag News

• Jun 20, 2023 | Poonam Nath

Amazon has launched the Amazon Pay Cash Load system, allowing users to deposit cash in amounts of Rs 2000 into their...

Digital Desk: The Reserve Bank of India (RBI) has stated that the Rs 2000 denomination banknotes would be phased out of the Indian economy. Furthermore, it has urged that citizens replace their Rs 2000 bills at banks. Although the notes will not be phased out quickly, as was the case with the 2016 demonetization, travelling to the bank to exchange currency notes is a time-consuming operation. 

Amazon has lately created a solution that allows consumers to exchange their Rs 2000 notes and add the amount to their Amazon Pay cash at their doorstep to assist them with this.

Amazon has launched an Amazon Pay Cash Load system, enabling people to deposit cash in Rs 2000 notes straight at their door.

Know here how to put Rs 2000 notes into your Amazon Pay balance?

First, make an order for any product you want to buy on Amazon. Check if the order is Cash Load eligible, which allows you to put cash into your Amazon Pay balance upon delivery.

- Select the "Cash on Delivery" option throughout the checkout procedure. This option allows you to pay in cash for your order upon delivery.

- Tell the delivery person on his arrival, that you want to deposit money into your Amazon Pay balance. Hand over the cash, including the Rs 2000 notes, to the associate. They will check the amount and proceed with the deposit.

- The delivery associate will put the same amount of cash you gave them into your Amazon Pay balance account right away.

- When the transaction is finished, you can check your Amazon Pay balance to ensure that the cash deposit was successfully added to your account. Your balance can be viewed on the Amazon website or mobile app.

However, the Reserve Bank of India (RBI) has announced that Rs 2000 currency notes will be phased out of circulation gradually. Individuals who own Rs 2000 notes can swap them or deposit them in any bank starting May 23, 2023. This facility will be operational till September 30, 2023. 

It is worth mentioning, that despite the phase-out procedure, Rs 2000 currency notes would continue to be legal tender beyond September 30.