How to Make a Check Deposit to Your Bank Account

Making a check deposit is a common financial transaction that allows individuals to add funds from a check into their bank account. Knowing how to properly deposit checks ensures your money is securely and efficiently added to your available funds. This guide will walk through the steps involved in preparing a check for deposit, the various methods of depositing it, and what to expect after the transaction.

Preparing Your Check for Deposit

Before you can deposit a check, it requires proper preparation. A crucial step involves endorsing the check, which authorizes the bank to process the payment. This endorsement occurs on the back of the check, within a designated area.

There are several types of endorsements. A blank endorsement is where you sign your name on the back of the check. While easy, this method carries the most risk because if the check is lost or stolen after being signed, anyone in possession of it could cash or deposit it.

A more secure option is a restrictive endorsement, which limits how the check can be used. For example, writing “For Deposit Only” followed by your signature and account number ensures the funds can only be deposited into your specific account, preventing it from being cashed by someone else. Some banks may also require a specific mobile deposit endorsement, such as “For Mobile Deposit Only” along with your signature, when using their mobile app.

In addition to endorsing, you may need to complete a deposit slip for in-person or certain ATM deposits. A deposit slip is a document used to itemize the funds you are depositing into your account. It includes fields for the current date, your account number, and separate lines to list cash and individual checks. You can obtain blank deposit slips at a bank branch or in the back of your checkbook. Accurately filling out this slip helps ensure your deposit is correctly processed and serves as a record of the transaction.

Depositing Your Check

Once your check is properly prepared, several methods are available for depositing it into your bank account. Each method offers varying levels of convenience and processing times. The most common options include using a mobile banking app, an automated teller machine (ATM), or visiting a bank teller in person.

Mobile Deposit

Mobile deposit allows you to deposit checks using your smartphone’s camera from almost anywhere. To use this feature, open your bank’s mobile app, select the deposit option, and take clear photos of both the front and back of your endorsed check. You will then enter the check amount and select the account for the deposit before confirming the transaction. This method eliminates the need to visit a physical bank location and provides real-time confirmation of your deposit.

ATM Deposit

Depositing a check at an ATM offers another convenient option, available outside of traditional banking hours. The process involves inserting your debit card and entering your personal identification number (PIN) to access your account. After selecting the deposit option and choosing the correct account, you will insert the endorsed check into a designated slot. Some advanced ATMs can read the check amount automatically, while others may require you to manually enter it; always verify the displayed amount before finalizing the transaction.

Teller Deposit

For those who prefer a traditional approach or require assistance, depositing a check with a bank teller is an option. When visiting a bank branch, bring your endorsed check, a completed deposit slip, and valid identification. You will present these items to the teller, inform them of the amount to be deposited, and specify if you wish to receive any cash back from the check. The teller will process the transaction, and you will receive a receipt as proof of your deposit.

After Your Deposit

After successfully depositing your check, understand the subsequent steps and what to expect regarding funds availability. Always retain any receipts, whether physical or digital, as proof of your transaction. This documentation can be valuable if there are any discrepancies or issues with the deposit later on.

Funds from deposited checks are not always immediately available for use. The Expedited Funds Availability Act (EFAA), implemented through Regulation CC by the Federal Reserve, governs how quickly banks must make deposited funds accessible to customers. This regulation sets specific timeframes, aiming to standardize when funds become available. While some deposits, like cash or U.S. Treasury checks, may be available on the next business day, funds from personal checks might have a hold period.

Factors influencing hold times can include the check amount, the bank’s policy, and whether it is a new account. For instance, deposits exceeding $5,525 may be subject to longer holds, an additional one to five business days, to allow the bank to verify the funds. Banks are required to disclose their funds availability policies to customers. Keep a record of your deposits to track when funds are expected to clear and become available in your account.