Nowadays, depositing cash in an ATM is generally as simple as using your debit card at an ATM and placing the cash directly inside. That said, there are a few things to keep in mind when making cash deposits at an ATM. Each bank has different ATMs, and some require a deposit slip or envelope for cash deposits. Make sure to read the ATM prompts carefully and use a deposit slip to note your account information and deposit amount if necessary.
If your bank allows for cash to be deposited directly into an ATM with no envelope, make sure to count your cash before placing it in the machine. While ATMs are generally accurate, they can occasionally make mistakes in counting and scanning bills.
If you know the correct amount ahead of time, you can verify that the ATM has counted correctly after making your deposit. Unlike deposits made with tellers, the funds from cash deposits at ATMs are not always available immediately. Funds can take more than one business day to show up in your account, so be mindful of this if you need the money in your account right away. In general, ATMs directly outside of bank branches will process funds to your account more quickly.
Even if you have an online bank with no physical locations, there are still options for depositing cash. If you have an online bank with no physical locations, there are still options for getting cash into your account, but the process will vary based on your bank and specific circumstances.
If you have another bank account with physical branches, you could deposit the money in person, then make a transfer to your online bank account.
Some prepaid debit cards can be loaded with cash at retail stores. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.
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But not all ATMs accept cash. The details including fees may vary depending on your bank. And if you use a bank that operates only online, you may not be able to deposit any cash at all. First, confirm the ATM accepts cash not all of them do. These instructions only apply to depositing cash into your own bank account.
One solution is to opt for an ACH transfer from another bank account that allows for cash deposits. Current is a prime example of an online bank account that offers flexibility with deposits. You can add cash into your account by making a deposit at over 60, stores. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. This article has been viewed 1,, times. People usually think of ATMs Automated Teller Machines , or cash-points, as a place for withdrawing cash from a bank account.
However, many ATMs allow you to deposit money as well. If the ATM requires an envelope, fill out a deposit slip and put it in the envelope with your check. To find out how long it usually takes for your deposit to clear, keep reading! Did this summary help you? Yes No. Log in Social login does not work in incognito and private browsers. Please log in with your username or email to continue. No account yet? Create an account. Edit this Article.
We use cookies to make wikiHow great. By using our site, you agree to our cookie policy. Cookie Settings. Learn why people trust wikiHow. Download Article Explore this Article methods. Tips and Warnings. Related Articles. Article Summary. Co-authored by Michael R. Lewis Last Updated: September 18, Approved.
Method 1. Verify that the ATM accepts deposits placed in an envelope. Smaller ATMs and those at non-bank locations such as convenience stores or restaurants may not have this function. Some modern bank ATMs may only accept non-envelope deposits.
See elsewhere in this article for information on making such deposits. Your bank may not permit deposits at ATMs not affiliated with it. This part of the process is exactly the same as when you withdraw cash. Endorse any checks to be deposited. Sign them on the back in the marked area. If you lose this endorsed check, it can only be deposited, not cashed. Prepare a deposit slip. If you are using a slip from your checkbook, your name, address, and account number should already be on the check.
If you are using a blank deposit slip, like those available in a bank branch, fill out your name, address, and account number.
Add the date to any type of deposit slip. Enter the total amount of cash to be deposited on the marked line, and individually list checks in the provided slots on the front and, if needed, back of the slip. Enter the total amount of all checks and cash to be deposited on the provided line. A signature is only required when you seek cash back from a deposit made at a teller window. You may want to sign your checks and prepare your deposit slip ahead of time, for convenience and safety.
Limiting your time at the ATM is safer and less likely to annoy those in line behind you. Use the deposit envelope provided by the ATM. Older machines may have a small door that you lift open to reveal deposit envelopes, while newer machines may just spit them out of a slot. Even if you have your deposit organized into an envelope, transfer it to the one provided by the machine.
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