Can You Put Money in an ATM?

Automated Teller Machines (ATMs) offer a convenient way to manage basic banking needs without requiring a visit to a physical bank branch or interaction with a teller. These machines provide accessibility for various transactions, including depositing funds into accounts. Utilizing an ATM for deposits can save time and offers flexibility, as they are often available outside traditional banking hours.

What You Can Deposit at an ATM

ATMs accept deposits of both cash and checks. When depositing cash, ATMs can typically process various denominations, from smaller bills to larger ones. Ensure bills are flat and organized for smooth processing.

For checks, ATMs commonly accept personal, business, and government-issued checks. Financial institutions may have specific guidelines regarding the condition of checks, such as requiring proper endorsement. While cash and checks are standard, some items are generally not accepted through ATMs, including money orders, foreign currency, or bonds. These types of transactions usually require direct interaction with a bank teller or other specific processing methods.

How to Deposit Cash and Checks

Depositing funds at an ATM begins with inserting your debit card into the designated slot and entering your Personal Identification Number (PIN). After logging in, the ATM menu will typically present an option for “Deposit.” Selecting this option will prompt you to choose whether you are depositing cash, checks, or both, and then to specify the account for the deposit, such as checking or savings.

If depositing cash, the machine will instruct you to insert the bills into a specific slot. Modern ATMs are designed to count the inserted cash, displaying the total on the screen for your review.

For check deposits, it is important to endorse the back of each check with your signature and often “For Deposit Only,” along with your account number, before inserting them into the machine. The ATM will then scan the checks and display the amounts for confirmation. After reviewing the transaction details on the screen, confirm the deposit, and remember to retrieve your debit card and the printed receipt, which serves as proof of the transaction.

Understanding Deposit Limits and Funds Availability

Banks implement daily or per-transaction deposit limits for ATM transactions, which vary by bank and account type. Limits may be a maximum dollar amount or a maximum number of bills. For instance, some ATMs may limit cash deposits to a certain number of bills, such as 50, regardless of their denomination.

After a deposit, the availability of funds varies. While cash deposits are frequently available immediately or by the next business day, check deposits typically involve a waiting period.

Federal regulations, such as Regulation CC, govern how quickly banks make deposited funds available. Generally, the first $225 of a check deposit is made available by the next business day.

For the remaining amount of a check deposit, funds are often available by the second business day following the deposit date. However, for larger check amounts, such as those exceeding $5,000, or for deposits made into new accounts, banks may place extended holds, with funds available within five to seven business days. Deposits made at ATMs not owned by your bank might also have longer hold times, sometimes up to five business days. Account holders can check their available balance through online banking, mobile apps, or by contacting their bank.