How to Deposit Cash and Checks in an ATM
Navigate ATM deposits for cash and checks with confidence. Understand the entire process from preparation to confirmation for seamless banking.
Depositing cash and checks at an Automated Teller Machine (ATM) offers a convenient alternative to traditional bank visits. ATMs provide a quick way to manage funds outside of typical banking hours, streamlining the process of adding money to your accounts.
Gathering What You Need
Before heading to an ATM for a deposit, prepare your items. For cash deposits, count your bills beforehand and arrange them neatly, unfolded, and flat. Remove any paper clips or bands, and ensure bills are not damaged or heavily creased. This helps the ATM’s sensors accurately count the money.
When depositing checks, endorse them by signing the back in the designated area. For security, you can also write “For Deposit Only” below your signature. Confirm the check is completely filled out, including the date, payee, numerical and written amounts, and the drawer’s signature.
You will need your debit or ATM card to initiate the transaction. Banks often have daily deposit limits for both cash and checks, which can vary by institution and type of ATM. Some ATMs may limit the number of bills per transaction or impose a monetary limit per transaction.
Depositing at the ATM
At the ATM, insert your debit or ATM card into the reader. You will then be prompted to enter your Personal Identification Number (PIN) on the keypad. This authenticates your identity and provides access to your account options.
After authentication, navigate the on-screen menu to select “Deposit.” The ATM will ask you to select an account (e.g., checking or savings). Choose the correct account to ensure your funds are credited appropriately.
For cash deposits, insert your bills into the designated slot. Modern ATMs count cash automatically, eliminating the need for envelopes. The machine will display the total amount counted, allowing you to confirm accuracy before finalizing the transaction.
When depositing checks, the process is similar. Insert your endorsed checks into the designated slot, which will scan and total them. The ATM usually displays an image of each check and the corresponding amount it has read. Verify that the displayed amounts match the actual check values.
Once you have confirmed all details, including the deposit amount and the selected account, finalize the transaction. It is always advisable to take the printed receipt provided by the ATM, as it serves as an immediate record of your deposit.
What Happens Next
After completing your ATM deposit, the availability of your funds will depend on several factors, including the type of deposit and your bank’s policies. Cash deposits are often available immediately or by the next business day, allowing for quick access to your money. However, funds from check deposits typically take longer to clear, with a portion often available within one to two business days, and the full amount potentially taking up to five business days or more. Factors such as the deposit amount, your account history, and the time of day the deposit was made relative to the bank’s cutoff times can influence fund availability.
It is a recommended practice to check your account balance online or through your bank’s mobile application within a day or two to confirm that the deposit has been accurately processed and posted. This proactive step helps ensure that your funds are correctly reflected in your account. Retaining your ATM receipt is also important for your personal records.
The receipt serves as proof of your transaction and can be a crucial document if any discrepancies arise. In the event that a deposit does not appear as expected, or if there is an issue with the amount, contacting your bank’s customer service department is the appropriate next step. Providing the details from your receipt can significantly assist the bank in researching and resolving any problems.