You have probably had to deposit cash or checks int a bank account using a deposit enabled ATM. However, due to the rise of mobile deposit, it allows you to be able to deposit it by simply taking a picture of your check, and submitting it for deposit through your bank’s app.
However if you are looking to deposit cash instead of a check,then you cannot do it with an app and must go to an ATM. When depositing checks, due note that it may take a longer for your funds to become readily available using mobile deposits compared to ATM deposits, depending on your bank’s policies.
In this guide we will review the complete process of depositing cash or checks into your bank account using a deposit-enabled ATM.
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Can You Deposit Cash at Any ATM?
If you are planning on going on a trip, your normal bank may not be available in that area. However, you will still be able to deposit or withdraw cash at any available ATM. This is helpful if you are associated with a bank that operates throughout the country.
You should note that if you are able to deposit money in another bank’s ATM, you might be subject to both fees and longer wait times for the deposit to post and clear to your account. One piece of advice when looking for banks is to look for banks that have a shared deposit program so that both the bank and ATM owner participate.
How To Deposit Cash in an ATM
If you need to make a bank deposits inside physical branches but none are open, your next option is to do a cash deposit is an ATM. When doing cash deposits, different ATMs will have different methods of accepting cash, however, the process typically involves putting the money directly into a designated slot.
Many ATMs are always available everyday, even during the Holidays. If you are looking on how to deposit Cash in an ATM then note that the actual steps will vary based on the specific machine. However, you will typically follow instructions similar to this at your bank’s ATM:
- Insert debit card
- Enter your unique PIN.
- Choose the account you are going to use, such as savings or checking.
- The next screen will prompt you to input the amount you want to deposit.
- You will be asked to enter the cash in a slot when the machine is ready to receive your funds.
- Remember that some ATMs will require you to place the money in an envelope before depositing.
- Once the ATM has received money, it will print out a receipt.
- Take your receipt and card.
How To Deposit a Check at an ATM
People often receive checks from employers, as gifts or as a form of payment for goods and services. If you’re wondering, “Can you deposit a check at an ATM?” — the answer is yes. Although depositing checks through your bank’s mobile app might be the easiest option, it’s not the only one available if you don’t want to visit a bank branch.
Depositing checks at your bank’s ATM can be done quickly and easily. The steps might vary between different ATMs of the same bank, so be sure to follow the machine’s specific instructions. Assuming the ATM requires a card, the instructions will likely follow these steps:
- Sign your check on the back for deposit only.
- Insert your card and enter your PIN.
- Choose the “deposit” option.
- Select the account (typically checking or savings).
- Type in the deposit amount (if the machine cannot already read that).
- Confirm the deposit amount.
- Make your receipt selection.
- Take your receipt and card before leaving the ATM.
When the Money Is Available
If you deposit funds through an ATM, there will be a slight delay before the money will be available and before you can use it on debit card purchases, bill payments, and withdrawals. It is recommended to check your bank’s funds availability policy, which explains how long the bank will be holding deposits.
If you are trying to make a cash deposits to a no envelope ATM, the money could be available immediately or within one business day. Check deposits typically post on the same day you deposit, but your bank might only make the first $200 of your check available within one or two business days. The remaining amount should be available for use after a few business days.
ATM Fees
When banking, you should note that every ATM is different when it comes to ATM fees. If you use your own bank’s ATM, there’s usually no fee. But if you use an ATM that is not associated with your bank, you might be subject a withdrawal fee. In these instances, both your bank and the ATM operator could charge separate fees so beware.
Using an ATM to deposit cash or checks into your account saves both time and hassle. Many ATMs are available at all times of the day, everyday. Just make sure you know your banks policy when it comes to using an ATM.
Conclusion
In conclusion, ATMs remain popular for withdrawals, but people often forget that many of these machines also accept deposits. For those that do allow deposits, the transactions can usually be completed in a few minutes or less. Look into depositing your cash or check into an ATM next time instead of mobile deposit if you are looking for your money in your account fast.
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