Can You Deposit Cash and Checks at an ATM?

Automated Teller Machines (ATMs) provide a convenient way to manage personal finances, extending banking services beyond traditional branch hours. These self-service terminals allow individuals to perform various banking tasks. Depositing funds through an ATM is a widely available option for many bank customers, offering flexibility and accessibility.

Items You Can Deposit

ATMs typically accept both cash and checks for deposit. For cash deposits, ensure bills are in good condition, not excessively folded, torn, or damaged, as this can hinder accurate processing. Some ATMs accept a stack of bills, while others require bills to be fed one by one.

Before depositing a check, proper endorsement is necessary, involving signing the back of the check in the designated area. For added security, writing “For Deposit Only” along with your signature restricts the check’s use solely for deposit into your account, preventing it from being cashed by another party if lost or stolen. Some ATMs use advanced scanning technology to read checks individually, while older models may require checks to be placed inside a deposit envelope.

Making an ATM Deposit

Initiating an ATM deposit begins with inserting your debit card and entering your Personal Identification Number (PIN). After authentication, the ATM’s on-screen menu presents various transaction options. Select the “Deposit” option, then choose between “Cash Deposit,” “Check Deposit,” or “Deposit Both.”

Once the deposit type is selected, the ATM guides you on where to insert your items. For cash, a designated slot opens for bills, either as a stack or individually. For checks, a separate slot becomes available for endorsed check(s).

Many contemporary ATMs feature scanning technology that automatically counts cash and reads check details, displaying the total amount on screen for your review. Verify that the displayed amount accurately reflects your deposit before confirming the transaction. After confirmation, the ATM processes the deposit and issues a transaction receipt.

Fund Availability and Other Considerations

After an ATM deposit, funds may not be immediately available for withdrawal or use. Banks are subject to federal regulations governing the availability of deposited funds. Cash deposits at your bank’s ATM often become available by the next business day, while check deposits typically have longer hold periods.

For instance, funds from a check deposited at your bank’s ATM generally become available on the second business day. Deposits at ATMs not owned by your bank may have even longer hold times, potentially up to the fifth business day. Factors like deposit amount, time of deposit, and whether it’s a weekend or holiday also influence fund availability.

ATMs often have daily deposit limits for both cash and checks, which vary by financial institution and account type. Cash limits may range from a few hundred dollars to several thousand, or be based on the number of bills accepted. Check deposit limits also vary, with some banks having limits for mobile or ATM check deposits, such as $5,000 per day or $10,000 monthly.

Keeping the ATM receipt is important as it serves as proof of your transaction, useful for tracking or resolving discrepancies. If a discrepancy occurs, contact your bank promptly with your receipt details. Specific procedures, limits, and fund availability rules differ between banks, so reviewing your bank’s deposit account agreement or contacting customer service is advisable for detailed information.