How To Make ATM Deposits to Your Bank Account

How To Make ATM Deposits to Your Bank Account

ATM machine and Credit Card. sorbetto / Getty Images
automatic teller machines have gone from a novelty when they were foremost introduced in 1967 to becoming platitude in nowadays ’ sulfur world. As of 2017, banks across the ball operated an estimated 3 million ATMs, according to the ATM Industry Association .
But while ATMs remain popular for withdrawals, people might forget that many of these machines besides accept deposits. For those that do allow deposits, the transactions can normally be completed in a few minutes or less. Read below to find out how to navigate ATMs, whether you ’ rhenium depositing cash or a check.

How To Deposit Cash in an ATM

If you ’ re accustomed to making bank deposits inside physical branches but none are open, your only choice for a cash deposit is an ATM. For cash deposits, unlike ATMs have different ways of accepting cash, but the process normally involves putting the money directly into a intend slot.
many ATMs are available anytime during the day, night, weekends and even on holidays. The actual steps might vary based on the specific machine. however, you ’ ll typically follow instructions like this if you ’ re depositing cash or a check at your bank ’ mho ATM :

  1. Insert your debit menu and PIN
  2. Select “ Deposit. ”
  3. enter the amount you want to deposit, and insert the cash or signed check .
  4. Confirm the dollar measure of the deposit .
  5. After the ATM has received the money, it will ask if you ’ d like a acknowledge .
  6. Take your receipt and poster .

Earn Perks With A New Checking Account
ampere long as cash deposits at the ATM are made before the ATM shortcut time, the money should be available immediately, evening though diligence regulations might not require handiness until the next business day. Check with your bank to find out how soon you can access the funds .
One thing you should be aware of is that the Bank Secrecy Act requires paperwork for cash deposits that exceed $ 10,000. so while maximal situate amounts might vary by bank, ATMs can not legally accept more than that come in cash .

Can You Deposit Cash at Any ATM?

If you go on vacation and your deposit is not available in the area, you even might be able to deposit your cash at any ATM. That ’ mho particularly true if you use a savings bank that operates all over the area. If your bank doesn ’ triiodothyronine have a relationship with the owners of the ATM you would like to use, however, you might not be able to make a depository. even if you can deposit money in another trust ’ s ATM, you could face both fees and longer delay times for the deposit to post to your bill .
Earn Perks With A New Checking Account
One tip is to look for banks with a share deposit program in which both the savings bank and ATM owner enter. For example, NYCE of Secaucus, New Jersey, allows shared deposits in certain cases. ATM companies such as MoneyPass address this need by offering surcharge-free ATMs — including sediment services — at more than 32,000 locations nationally .

How To Deposit a Check at an ATM

Depositing checks at your bank ’ s ATM can be done cursorily and well, and your check will clear in no time. The steps might vary between different ATMs of the lapp depository financial institution, so be sure to follow the machine ’ s specific instructions. Assuming the ATM requires a circuit board, the instructions will likely follow these steps :

  1. Sign your check on the back for deposit only


  2. Insert your card and enter yourPIN .
  3. Choose the “ deposit ” option .
  4. Select the explanation ( typically checking or savings ) .
  5. Type in the deposit amount (if the machine cannot already read that).
  6. Confirm the deposit come .
  7. Make your reception choice .
  8. Take your receipt and card before leaving the ATM.

How Do You Make a Deposit to an Online Bank Account?

ATM deposits can get slippery for those who want to deposit to an on-line deposit. however, some on-line banks make agreements that let you use ATMs in particular networks. Capital One 360 is an model of an on-line savings bank that accepts these deposits. Check with your on-line bank for its ATM down payment options .

Card-Free ATM Access

Some banks have turned to ATMs that don ’ deoxythymidine monophosphate require a tease to make transactions. Wells Fargo added this feature of speech in 2017 and Chase followed lawsuit. In both cases, the have can only be used with the bank ’ s corresponding app and is only available to customers of a specific bank .
Earn Perks With A New Checking Account
Near-field communication ( NFC ) engineering has played an significant role in card-free ATM transactions. Smartphones equipped with NFC can sign on to savings bank accounts a well as respective mobile wallet apps, including Apple Pay and Google Pay .
NCR, which provides multivendor ATM software, introduced a raw system for withdrawals called the Mobile Cash Withdrawal officiate. This creates a 2D barcode within a bank ’ randomness app. Customers can go to the ATM, scan the barcode and then perform the transaction per the machine ’ sulfur instructions. For this have, no batting order, PIN or NFC engineering is necessity .

ATM Fees

not all ATMs are created equal when it comes to fees associated with depositing cash or checks. When you use your own bank ’ second ATM, there ’ randomness normally no fee. But when you use a non-network machine, you might be charged a tip. You might besides be charged a tip when you use an ATM operated by another bank. In these cases, both the bank and the ATM operator could charge separate fees .
Using an ATM to deposit cash or checks into your explanation can save time and is besides more commodious than visiting a physical ramify. many ATMs are available 24/7. equitable make certain you know the rules of your bank when it comes to using an ATM .

The Future of ATM Deposits

The future of ATM deposits is a fiddling changeable in an increasingly cashless society. According to the Federal Deposit Insurance Corp., as of 2017 only 15.9 % of U.S. households used cash to pay bills. That percentage falls to 9.8 % among “ in full banked ” households, which are the 68.4 % of U.S. households that have bank accounts and don ’ t manipulation alternative fiscal services. meanwhile, more consumers are making noncash deposits through smartphones rather than ATMs.

This doesn ’ metric ton beggarly everyone has turned against cash. Some prefer the “ pain ” of using cash as a way to limit their spend because it ’ randomness normally harder to part with real money than it is to swipe a debit card or make an on-line purchase. other consumers merely mistrust the banking system — peculiarly after the fiscal crisis of 2007-08. meanwhile, some parts of the world lack the infrastructure necessary to go cashless .
The continuing appeal of cash among many consumers should help ensure that you have no trouble finding ATMs nearby and making ATM deposits, at least for the foreseeable future. While cards and PINs might disappear finally, ATM machines should be around for a while .

About the Author

Will Healy

Will Healy

Will Healy is a freelance business and fiscal writer based in the Dallas area. He has covered a diverseness of finance and news-based topics, including the stock certificate market, substantial estate, indemnity, personal finance, macroeconomics, and politics. Will holds a bachelor of Science in Journalism from Texas A & M University, a maestro of Science in Geography from the University of North Texas, and a Master of Business Administration from the University of Texas at Dallas .

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Category : Finance

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