You don’t need to visit a branch bank teller to get your money where it needs to go. If you deposit cash and checks into an ATM, you can skip the hassle of working around bank business hours.
Here’s our easy guide to using an ATM to get your money into your bank account.
Here’s how to deposit cash in an ATM
1. Confirm whether you can deposit money into a particular ATM. While many bank ATMs allow withdrawals from noncustomers (often for a fee), you’ll typically need to use your own bank’s ATM system to make deposits. Your bank likely has a map of eligible nearby ATMs on its website. Some local and regional banks and credit unions belong to shared nationwide ATM networks such as Allpoint or MoneyPass, while others might give ATM fee reimbursements.
See the best banks for ATMs
Check out banks that don't charge ATM fees and even reimburse third-party ATM fees.
2. If you have checks to deposit, prep them by signing the back. You don’t want to hold up the line at the ATM by digging for a pen to endorse your check. If checks are the only thing you’re depositing, see if your bank offers free mobile check deposit, which lets you use your smartphone to deposit checks from anywhere, so you won’t need to queue up at a machine.
3. Insert or tap your debit or ATM card at the card reader and enter your PIN. This security step acts like a password for accessing your funds.
4. Select which account you want to deposit your cash or checks into. If you have multiple checking and/or savings accounts, the ATM will ask where you would like your cash to go.
5. If the ATM doesn’t require an envelope, stack your bills and/or checks together and insert them. Most modern ATMs from major banks have scanning technology that can differentiate between bills and checks and can detect the total amount of money you’re depositing. Many major banks allow you to insert dozens of bills and checks at a time; there’s no need to feed them in individually or fill out a deposit slip.The ATM will tell you when to insert the stack of bills and checks you want to deposit into the appropriate slot.
6. If the ATM does use envelopes, put your bills and/or checks inside and insert the envelope. You’ll be hard-pressed to find an ATM that uses envelopes for deposits these days, but if you do, you’ll have to put the bills and/or checks inside, seal the envelope, write the total on the envelope and manually enter the amount you’re depositing into the ATM. It may take a couple of business days for your funds to become available since the deposit amount must be confirmed by the bank.
7. Verify your deposit at the machine. The last step before you finish up at the ATM is to make sure it registered the correct deposit amount into the right account. The ATM will display a message asking if the total amount you deposited is accurate; you must OK it before the funds are processed into your account. If the amount is inaccurate, cancel the deposit and try again, or contact your bank if the problem persists. Should you find that the ATM deposit amount was incorrect, contact your bank as soon as possible.
8. Wait for your deposit to clear. Instantaneous access to your cash is becoming the norm, but if your bank has a waiting period, keep an eye on your accounts over the next few days to make sure the full deposit lands.
How to deposit money with an online bank
If you want to deposit cash in an online-only bank account, you may have some extra hoops to jump through. Many online banks participate in shared ATM networks, which allow customers to deposit cash without surcharges. Other options may be to deposit cash in a traditional bank account, if you have one, then electronically transfer it into your online-only bank account, or buy a money order and deposit it with your online bank mobile app.
While it may take a few more steps to deposit money into an online bank account, depositing cash or checks at an ATM is a convenient way to get your money into a traditional bank account.
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FAQs
How to Make a Cash Deposit at an ATM
- Log in to your account. Typically, ATMs require a debit card and PIN to access your bank account. ...
- Choose your account. ...
- Insert your bills. ...
- Double check the deposit. ...
- Get a receipt.
While you can deposit checks over $10,000 at any bank or ATM, cashing this requires the bank to report it to the Internal Revenue Service (IRS), a rule for all cash transactions over $10,000. If you need a substantial check, you may also want to consider cashier's checks that the bank guarantees.
Can I deposit a $10,000 check at ATM? ›
Yes most of the time you can deposit any check into an atm. Mobile deposits have amount limits. If you are concerned about it, you may be better off going inside the bank and seeing a bank teller for the transaction. You probably could but it will take a few days to clear.
How can I deposit cash in my account through ATM? ›
How to deposit cash at an ATM
- Access your account(s). Insert your debit card and enter your PIN. ...
- Choose an account and an action. ...
- Enter the bills based on the bank's instructions. ...
- Confirm the total deposit. ...
- Get a transaction receipt.
ATM deposit limit
As per the rules set by the Reserve Bank of India, the per-transaction cap is Rs. 49,900 for cardless deposits and Rs. 2,000,000 for debit card transactions (subject to the account ceded with PAN number).
How much cash can you deposit in ATM without being flagged? ›
Banks must report cash deposits of $10,000 or more. Don't think that breaking up your money into smaller deposits will allow you to skirt reporting requirements. Small business owners who often receive payments in cash also have to report cash transactions exceeding $10,000.
Is it better to deposit a check in person or ATM? ›
If you deposit a check at an ATM instead of inside a bank or credit union, your bank or credit union has more time under the law to make the funds available. If you deposit a check into an ATM not owned by your bank or credit union, it is allowed to take even longer.
Is it safe to deposit a very large check at the ATM? ›
So, should you take the plunge? Depositing checks through an ATM is generally safe. Mistakes do happen, but they're rare. The good news is that as the technology improves, in the words of Paul McCartney, it's getting better all the time.
Is it safe to deposit cash in an ATM? ›
It can be helpful to make sure you keep your cash and debit card PIN safe while using an ATM in public. Picking an ATM in a well-lit area and staying aware of your surroundings can go a long way toward staying protected while making a cash deposit or withdrawal.
What happens to checks deposited in an ATM? ›
How do ATM Deposits work? When making a deposit, simply insert cash or checks and the ATM does the rest. The ATM scans your checks, counts your bills, and totals them on screen. You can adjust your amounts, then request printed images of your checks on your receipt.
In many cases, the answer is yes. It's common for ATMs to accept both cash and check deposits, offering a convenient solution that's available outside of banking hours. The following guide explains exactly how to deposit a check in an ATM, how to access your funds, and more.
Is depositing $2000 in cash suspicious? ›
As long as the source of your funds is legitimate and you can provide a clear and reasonable explanation for the cash deposit, there is no legal restriction on depositing any sum, no matter how large. So, there is no need to overly worry about how much cash you can deposit in a bank in one day.
What happens when you deposit over $10,000 in a check? ›
Banks have to report any deposits above $10,000 to the IRS on a form known as the Currency Transaction Report. Yes -- even if it's only $10,000.01. It's not just deposits, either. Banks are required to report any transaction of over $10,000, including withdrawals.
How large of a check can you mobile deposit? ›
The maximum amount varies by bank. At Santander Bank, for example, there's a daily mobile deposit limit of $2,500 for customers who've had an account for at least 90 days. Otherwise, the daily limit is $1,000.
Can I deposit 3,000 cash into a bank? ›
You can generally deposit as much as you'd like in most bank accounts. Federal Deposit Insurance Corp. (FDIC).
Can you pay cash in at an ATM? ›
Use your debit card to pay in money at an ATM.
Next, you must enter the amount you want to pay in, insert banknotes only in the appropriate slot, without any paper clips, or envelopes, and the ATM will detect the total amount which you will be able to see on the screen.
Can I deposit $5000 cash in a bank? ›
Depending on the situation, deposits smaller than $10,000 can also get the attention of the IRS. For example, if you usually have less than $1,000 in a checking account or savings account, and all of a sudden, you make bank deposits worth $5,000, the bank will likely file a suspicious activity report on your deposit.
