How to Put Money Into Your Bank Account

Knowing how to deposit money into a bank account is key to managing personal finances. Various methods exist for adding funds, each offering different levels of convenience and speed. Understanding these options allows individuals to choose the most suitable approach for their financial needs, ensuring money is accessible when required.

Depositing Cash and Checks in Person or at an ATM

Depositing physical funds, such as cash and paper checks, involves visiting a bank branch or using an automated teller machine (ATM). For in-person deposits, customers need to present the cash or check, along with a completed deposit slip that includes their account number. A government-issued photo identification, such as a driver’s license or state ID, is often required for security. The bank teller processes the transaction and provides a receipt as proof of deposit.

Using an ATM provides another convenient way to deposit cash and checks outside of banking hours. The process begins by inserting a debit card and entering a personal identification number (PIN) to access the account. After selecting the “deposit” option, customers insert cash or checks into a designated slot on the machine. The ATM displays the recognized amount for confirmation before finalizing the transaction. Always take the printed receipt, as funds deposited via ATM may be subject to a hold period before they become fully available.

Transferring Funds Electronically

Electronic transfers offer efficient ways to deposit money without handling physical cash or checks. Direct deposit is a common method where funds, such as paychecks, government benefits, or tax refunds, are automatically transferred from a payer directly into a bank account. To set up direct deposit, individuals provide their employer or benefits provider with the bank’s nine-digit routing number and their specific account number. This method ensures timely access to funds, as money is available on the scheduled payment date.

Bank-to-bank transfers allow for moving money between accounts held at different financial institutions. These transfers can be initiated through online banking platforms by linking external accounts. Standard Automated Clearing House (ACH) transfers between banks take one to three business days and are often free of charge. For faster transfers, domestic wire transfers can move funds on the same business day but incur a fee.

Peer-to-peer (P2P) payment services, such as Zelle, Venmo, or PayPal, facilitate electronic deposits by allowing individuals to receive money directly into a linked bank account. Once funds are received through these platforms, they may reside within the P2P service’s balance. Users can then initiate a transfer from their P2P balance to their linked bank account. Standard transfers to a bank account are free and take one to three business days, while instant transfers are available for a small fee.

Depositing Checks Using a Mobile Device

Mobile check deposit offers a convenient way to deposit paper checks using a smartphone and a bank’s mobile application. Before initiating a mobile deposit, individuals need to ensure they have a smartphone with internet access and the official mobile banking app installed. Properly endorsing the back of the check by signing one’s name and writing “For Mobile Deposit Only” or similar language is required by the bank.

The process within the app involves selecting the mobile deposit feature, then taking clear photos of both the front and back of the endorsed check. Place the check on a flat, dark surface with good lighting to ensure all four corners are visible and the image is not blurry. After capturing the images, the user will be prompted to enter the check amount, confirm the details, and then submit the deposit. Banks advise keeping the physical check until the funds are fully cleared and available in the account.