How to Deposit Cash and Checks in an ATM
Master ATM deposits. Get clear, concise instructions for depositing cash and checks, ensuring a smooth and accurate banking experience.
Depositing cash and checks at an Automated Teller Machine (ATM) provides a convenient way to manage your finances outside of traditional banking hours. This method offers flexibility, allowing you to complete transactions when it best suits your schedule. Utilizing an ATM for deposits can streamline your banking routine, making it a simple and accessible option.
Gathering What You Need
Before an ATM deposit, gather your debit or ATM card and Personal Identification Number (PIN). For cash deposits, count your bills beforehand to ensure accuracy and to compare with the ATM’s count. When depositing checks, properly endorse each check by signing your name on the back in the designated endorsement area. It is advisable to write “For Deposit Only” below your signature to enhance security, ensuring the check can only be deposited into an account. Also, know which of your accounts, such as checking or savings, the funds should be deposited into.
Depositing Your Funds Step-by-Step
At the ATM, begin by inserting or tapping your debit or ATM card and entering your PIN when prompted. The ATM interface will then display various transaction options, from which you should select “Deposit.” You will be asked to choose the account where you wish to deposit the funds, such as your checking or savings account. Next, indicate whether you are depositing cash or checks, as some ATMs may require separate transactions for each.
Most modern ATMs feature advanced scanning technology, allowing you to insert a stack of bills directly into the designated slot. For checks, insert them one by one, face up, into the check slot, ensuring each check is properly oriented as indicated by the machine. After the ATM scans your items, it will present a summary of the deposit, displaying the recognized amounts; carefully review this summary for accuracy before confirming the transaction. Concluding the process, the ATM will dispense a receipt and return your card, signaling the completion of your deposit.
Understanding Deposit Confirmation
After completing your ATM deposit, the machine will issue a receipt, which serves as a record of your transaction. This receipt includes the date, time, amount deposited, and a unique transaction number, providing proof of your deposit.
Deposited funds may not be immediately available for use. While cash deposits are available quickly, funds from checks have a processing period, becoming available on the next business day, or within two business days. For larger check deposits, or if your account is relatively new, a longer hold period, potentially ranging from two to seven business days, may be applied to allow the bank to verify the funds. Always retain your receipt, as it is essential for verifying the deposit later through online or mobile banking, and for resolving any discrepancies that might arise by contacting your bank’s customer service.