Can You Put Money in an ATM? How the Process Works

Depositing money at an Automated Teller Machine (ATM) offers a convenient way to manage your finances outside of traditional banking hours. These machines provide widespread accessibility, allowing individuals to add funds to their accounts without needing to visit a bank branch. Understanding the process for depositing cash and checks at an ATM can help streamline your financial activities and provide peace of mind.

Identifying Deposit-Accepting ATMs

Not all ATMs are equipped to accept deposits, so it is helpful to know how to identify those that offer this service. ATMs located directly at bank branches are typically capable of handling both cash and check deposits. Conversely, standalone ATMs found in retail stores or gas stations often only provide cash withdrawals. Many ATMs that accept deposits feature clear labels such as “Deposit,” “Cash Deposit,” or “Check Deposit” on the machine itself, or they may have a distinct slot for inserting funds.

Visual indicators, like dedicated deposit slots that differ from the cash dispensing slot, can also signal deposit capability. To confirm an ATM’s deposit functionality, you can utilize your financial institution’s website or mobile application, which commonly feature ATM locator tools that filter for deposit-enabled machines. Some shared ATM networks, such as Allpoint or MoneyPass, also offer their own locators that allow users to find deposit-accepting ATMs within their network. Using an ATM within your bank’s network is generally advisable to avoid potential fees and ensure faster processing of your deposited funds.

Depositing Cash

Once you locate a deposit-accepting ATM, the cash deposit process is straightforward. Begin by inserting your debit card into the machine and entering your Personal Identification Number (PIN) when prompted. On the ATM’s main menu, select the “Deposit” option, and then choose “Cash Deposit” or a similar phrase. You may also be asked to select the specific account, such as checking or savings, where you wish to deposit the funds.

Prepare your cash by ensuring all bills are flat, unfolded, and free of clips or staples, as this helps the machine accurately count the money and prevents jams. Insert the cash into the designated deposit slot when the ATM prompts you to do so. Most modern ATMs can accept a stack of bills at once, streamlining the process. The ATM will then count the inserted cash and display the total amount on the screen for your verification; it is important to confirm this amount matches your intended deposit before finalizing the transaction.

Depositing Checks

Depositing checks at an ATM follows a similar procedure to cash deposits, with a few distinctions. After inserting your debit card and entering your PIN, select the “Deposit” option, and then choose “Check Deposit.” Before inserting the check, it is typically necessary to endorse it by signing the back in the designated endorsement area. Some banks may also require you to include “For Deposit Only” and your account number for added security.

Modern ATMs often feature image-enabled technology, which scans the check directly when inserted into the slot, eliminating the need for deposit envelopes. These machines usually display an image of the check and the recognized amount for your review, allowing you to verify accuracy before confirming. If the ATM does not correctly read the amount, you may have the option to manually enter it. Some older ATMs might still require you to place the endorsed check inside a provided envelope before inserting it into the machine.

What Happens After Your Deposit

After completing your deposit at an ATM, always remember to collect your transaction receipt. This receipt serves as an important record of your deposit, detailing the amount, date, time, and sometimes even images of deposited checks, which can be crucial for tracking your finances or resolving any discrepancies. For cash deposits, funds are often available immediately, particularly when using an ATM within your bank’s network. However, some banks may have cutoff times, meaning deposits made after a certain hour might be processed on the next business day.

For check deposits, funds availability typically involves a processing period, often referred to as a “hold.” While some initial funds, such as $200 or $275, might be available on the next business day, the full amount of a check deposit may take one to several business days to clear, depending on your bank’s policy, your account history, and the check amount. Banks also impose daily deposit limits, which can range from a few thousand dollars for cash to higher amounts for checks, varying by institution. If you encounter an issue, such as an incorrect amount or the ATM retaining your funds, immediately contact your bank’s customer service with your receipt and any relevant details.