Can You Deposit Money Into a Bank ATM?

Automated Teller Machines (ATMs) have become a common fixture in modern banking, offering a convenient way to manage financial transactions beyond traditional branch hours. These self-service terminals provide accessibility for various banking needs, including the ability to deposit funds directly into accounts. This allows individuals to add money to their accounts at times and locations that suit their schedules.

The Basics of ATM Deposits

Depositing money at an ATM involves placing cash or paper checks into the machine. When depositing cash, ensure bills are unfolded, clean, and facing the same direction to facilitate accurate counting by the ATM’s internal mechanisms. For checks, proper endorsement is a necessary step before deposit, involving signing the back in the designated endorsement area, often with an instruction like “For Deposit Only.”

To initiate an ATM deposit, an active debit card associated with your bank account is required. The card grants access to your account at the machine, and a Personal Identification Number (PIN) must be entered for security verification. While some older ATM models might require deposits to be placed in an envelope, most modern ATMs are equipped with advanced technology that allows for direct insertion of cash and checks without an envelope, scanning and counting them instantly.

How to Deposit Money at an ATM

Making a deposit at an ATM begins with inserting your debit card into the machine’s card reader and entering your secure PIN when prompted. Some modern ATMs may also offer cardless options, allowing access through a banking app or digital wallet on a smartphone. Once authenticated, the ATM screen will display a menu of transaction options, from which you should select the “Deposit” choice.

After selecting the deposit option, you will be asked to specify whether you are depositing cash, checks, or both, and to which of your linked accounts (e.g., checking or savings) the funds should be credited. For cash deposits, the machine will indicate where to insert the bills, often into a designated slot that automatically counts the currency. It is advisable to count your cash beforehand and verify the amount displayed on the ATM screen matches your count before confirming the transaction.

When depositing checks, you will insert the endorsed check(s) into a separate or combined deposit slot, following the on-screen instructions for orientation. The ATM will then scan each check and display the recognized amount for your verification. You must confirm the accuracy of the displayed amount for each check before finalizing the deposit. Concluding the transaction typically involves confirming the deposit details and choosing to receive a printed receipt.

Key Considerations for ATM Deposits

Banks often establish daily or per-transaction limits for ATM deposits, which can vary by institution and account type. For cash deposits, these limits might be based on a maximum dollar amount or the number of bills the machine can accept in a single transaction, commonly ranging from 40 to 200 bills. Federal regulations require banks to report cash deposits exceeding $10,000 to the IRS, and attempting to circumvent this by breaking down large deposits into smaller ones (known as structuring) is illegal and carries severe penalties.

The availability of deposited funds is governed by federal regulations, primarily Regulation CC, which sets timelines for when banks must make funds accessible. Cash deposits made at your bank’s ATM are often available immediately or by the next business day. However, funds from check deposits are typically subject to holds to allow for verification.

If depositing a check at your bank’s ATM, funds usually become available by the second business day following the deposit. For deposits made at an ATM not owned by your bank (a non-proprietary ATM), funds from checks may be held for a longer period, generally up to the fifth business day. Longer holds can apply for larger check deposits, typically those exceeding $5,525, or for new accounts.

Depositing money into an ATM is generally restricted to machines that belong to your specific bank or are part of its affiliated network, primarily for security and operational efficiency. Out-of-network ATMs usually do not support deposits, focusing instead on withdrawals, and attempting to deposit at one may not be possible or could incur additional fees. Regardless of the ATM used, always obtain and retain the transaction receipt as proof of deposit. This physical record is important for personal record-keeping and can be invaluable in resolving any discrepancies or disputes that may arise.