Do ATMs Take Deposits? How to Deposit Cash and Checks

Automated Teller Machines (ATMs) have evolved beyond simple cash withdrawals, offering a convenient way to manage banking needs outside of traditional branch hours. Many ATMs now provide deposit functionality, allowing individuals to add funds directly to their accounts. This accessibility makes ATM deposits a practical solution, streamlining the process of adding money to an account.

Types of Deposits Accepted

ATMs accept two primary types of deposits: cash and checks. For cash deposits, bills should be unfolded and in good condition for accurate counting. While most modern ATMs can handle a stack of bills inserted directly into a designated slot, some older models might still require cash to be placed within an envelope.

When depositing checks, proper endorsement is essential, involving signing your name on the back of the check, usually in a designated area. Some financial institutions may also suggest adding “For Deposit Only” below your signature for added security. Modern ATMs are designed to scan checks, eliminating the need for a physical deposit slip in most cases.

How to Make an ATM Deposit

Insert your debit or ATM card into the machine’s card reader and enter your Personal Identification Number (PIN) to access your account. The ATM screen will then present a menu of transaction options; select “Deposit.” You will be prompted to choose which account you wish to deposit funds into, such as checking or savings.

The ATM will then instruct you to insert your cash or checks into a designated slot. Many modern machines can accept a stack of bills and multiple checks at once. After the deposit is inserted, the ATM will display the amount it counted; verify this amount and confirm it on the screen. Finally, the machine will offer a receipt.

Deposit Availability and Limits

The availability of deposited funds can vary based on the type of deposit and the bank’s policies. Cash deposits often become available immediately or by the next business day. For checks, however, funds may not be available for withdrawal right away, with availability potentially taking one to two business days for deposits made at your own bank’s ATM. Federal regulations, such as Regulation CC, mandate that funds from checks deposited at an ATM must be made available no later than the second business day after the deposit.

Factors influencing availability include the time of day the deposit is made; deposits placed after a bank’s daily cut-off time will be processed on the next business day. Deposits made on weekends or federal holidays will also be processed on the subsequent business day. While most banks do not impose strict limits on the total dollar amount of cash that can be deposited, ATMs often have a per-transaction limit on the number of bills, such as 30 to 40 bills. This means a large cash deposit might require multiple transactions. For checks, banks may place longer holds or conduct additional security checks for larger amounts, such as deposits exceeding $5,000 or for new accounts.