Can You Deposit Cash at an ATM?

You can deposit cash at an Automated Teller Machine (ATM), particularly those operated by your financial institution. ATMs offer a convenient way to add funds to your account outside of traditional branch hours. The process involves a few steps and considerations to ensure accuracy.

ATM Cash Deposit Essentials

Not all ATMs accept cash deposits; independent or third-party ATMs often only facilitate withdrawals. Bank-owned ATMs, especially those at a branch, are the most reliable for cash deposits. You will need a debit card linked to the account where the deposit will be made, as this card authenticates your identity and provides access to your banking services.

Cash-accepting ATMs are either envelope-free (also known as intelligent deposit) or envelope-based. Envelope-free ATMs scan and count bills directly, providing immediate on-screen verification. Envelope-based machines require you to place cash in a provided envelope, with the bank manually verifying the contents later. Most ATMs accept only paper currency; coins are not accepted. Banks may also impose daily deposit limits, often based on the number of bills rather than a specific dollar amount, typically ranging from 40 to 200 bills per transaction.

Making Your Cash Deposit

To begin a cash deposit, insert your debit card or tap it if contactless functionality is available, then enter your Personal Identification Number (PIN). Select the “Deposit” option from the menu. Then, choose the specific account, such as checking or savings, where you intend to deposit the cash.

For envelope-free ATMs, insert your bills directly into the designated slot. The machine counts the cash and displays the total amount. For envelope-based ATMs, place your cash inside an envelope, often provided at the ATM, and write the deposit amount and your account number on it before inserting. Always confirm transaction details and retrieve your printed receipt before leaving the ATM.

After Your ATM Deposit

After completing your ATM cash deposit, understand funds availability. Some cash deposits at proprietary ATMs may be immediately available, while others might have a hold placed on them, typically becoming available by the next business day. Deposits at non-proprietary ATMs could have longer holds, potentially up to five business days. Consult your bank’s specific funds availability policy for precise timelines.

Retain your ATM receipt as proof of transaction until funds are verified in your account. Verify the deposit’s status through online or mobile banking. If a discrepancy arises, contact your bank’s customer service with your receipt details; banks investigate such issues within a specified timeframe, often ranging from 10 to 45 days. When using ATMs, remain aware of your surroundings, shield your PIN, and secure your cash and card immediately after the transaction.