How Do You Use an ATM to Deposit Cash?

Depositing cash at an Automated Teller Machine (ATM) offers a convenient way to manage your funds outside of traditional banking hours. Many financial institutions provide ATMs that accept cash deposits, allowing individuals to add money to their accounts without needing a bank teller. This accessibility helps streamline personal financial management by providing flexibility for busy schedules.

Depositing Cash at an ATM

To begin a cash deposit at an ATM, you will typically insert your debit or ATM card into the designated slot on the machine. After inserting your card, the ATM will prompt you to enter your Personal Identification Number (PIN) on the keypad. It is important to shield the keypad while entering your PIN to maintain security.

Once your identity is verified, the ATM screen will display a menu of transaction options. You should select the option that indicates “Deposit,” “Deposit Funds,” or “Make a Deposit.” The machine may then ask you to specify the type of deposit you wish to make; at this point, you will choose “Cash.” Some ATMs might also ask you to select the specific account, such as checking or savings, where you want the funds to be deposited.

The ATM will then instruct you to insert your cash into a designated slot. Modern ATMs typically have advanced scanning technology that allows you to insert a stack of bills directly, and the machine will count them automatically. After the cash has been inserted and counted, the ATM screen will display the total amount recognized. Review this amount carefully to ensure it matches your intended deposit. If the amount is correct, you will confirm the transaction, and the ATM will process your deposit.

Key Details for ATM Cash Deposits

Before heading to an ATM for a cash deposit, ensure you have your active debit or ATM card and the cash you intend to deposit. Organizing your bills by smoothing them out and facing them in the same direction can help prevent machine errors and ensure a smoother transaction.

Not all ATMs are equipped to accept cash deposits. While most ATMs allow cash withdrawals, only those belonging to your bank or part of your bank’s designated network will generally accept cash deposits. Many banks provide ATM locators on their websites or mobile apps that can filter for machines capable of accepting deposits, sometimes indicated by specific symbols like “Allpoint+” or “MoneyPass” logos for participating networks. Using an out-of-network ATM for a cash deposit might incur additional fees and potentially result in longer processing times for your funds.

Most banks implement daily or per-transaction limits on ATM cash deposits. These limits can vary significantly by financial institution and account type, often based on the number of bills rather than a specific dollar amount. For example, an ATM might accept a maximum of 30 or 40 bills per transaction. Banks are federally required to report cash transactions exceeding $10,000 to the Financial Crimes Enforcement Network (FinCEN) under the Bank Secrecy Act. Intentionally breaking down a large deposit into smaller amounts to avoid this reporting, known as structuring, is unlawful.

The availability of deposited funds can vary. Cash deposited at an in-network ATM is often available immediately or by the next business day, with deposits made after cut-off times or on non-business days processed on the next business day. Understand the difference between funds being “deposited” and “available,” as banks may place temporary holds, meaning funds are recorded but not immediately accessible.

Retaining the transaction receipt provided by the ATM is important. This receipt serves as proof of your deposit, detailing the date, time, and amount, which is valuable for personal record-keeping and for resolving any discrepancies that might arise. The receipt acts as an important document in case of any processing errors or if the funds do not appear in your account as expected.