How to Put Money Into Your Bank Account

Depositing money into a bank account involves several common methods, each offering varying levels of convenience and processing times. Understanding these options helps individuals manage their finances effectively by ensuring funds are securely placed where they can be accessed for transactions or savings. The choice of method often depends on the type of funds being deposited and the urgency of access.

Depositing Cash

Depositing physical cash into a bank account can be done through a bank branch, an automated teller machine (ATM), or specific retail locations.

At a bank branch, individuals typically complete a deposit slip, noting their account number and the amount. This slip, along with the cash and a valid identification, is presented to a bank teller who processes the transaction and provides a receipt as proof. Funds deposited in person are generally available on the same business day.

Using an ATM for cash deposits offers flexibility outside of banking hours. Individuals locate an ATM that accepts deposits, insert their debit card, enter their personal identification number (PIN), and select the deposit option. The ATM will prompt for the cash to be inserted, often counting it automatically, before displaying the total for verification. A receipt is provided upon completion, and while some ATM deposits are immediately available, others may take up to one business day to process.

Some banks partner with retail locations, allowing customers to deposit cash through a cashier. This method typically involves generating a barcode or providing specific bank information, such as account and routing numbers, to the retailer. The cashier processes the transaction, and the funds are then electronically transferred to the bank account, though this service may involve a small fee. This option is particularly useful for individuals with online-only bank accounts that lack physical branches.

Depositing Checks

Depositing checks can be accomplished through mobile applications, at bank branches, via ATMs, or by mail.

Mobile check deposit involves endorsing the check by signing the back and adding “For Mobile Deposit Only” below the signature. Users then open their bank’s mobile app, select the deposit function, and take clear photographs of both the front and back of the endorsed check on a flat, dark surface. After entering the check amount and selecting the destination account, the deposit is submitted, with funds typically becoming available within one to two business days.

At a bank branch, depositing a check follows a process similar to cash deposits. The check must be endorsed with a signature, and a deposit slip needs to be filled out with the account number and check amount. The teller accepts the endorsed check and deposit slip, possibly requesting identification for verification, and issues a receipt. Checks deposited with a teller usually clear within one to two business days, depending on the bank’s policies and the check’s origin.

ATMs also accept check deposits, requiring the check to be endorsed before insertion. After inserting their debit card and entering their PIN, individuals select the check deposit option and feed the check into the designated slot. The ATM scans the check, often displaying the amount for confirmation, and provides a receipt for the transaction.

Depositing checks by mail is another option. The check should be endorsed with a restrictive endorsement, such as “For Deposit Only” and the account number, to ensure it can only be deposited. A completed deposit slip is included with the endorsed check, and both are mailed to the bank’s processing center. This method generally has the longest processing time, often taking several business days for funds to become available.

Receiving Funds Electronically

Electronic transfers offer a swift and secure way to receive funds directly into a bank account.

Direct deposit is a common method for recurring payments, such as salaries, government benefits, or tax refunds. To set up direct deposit, the recipient provides the payer with their bank’s routing number, their specific account number, and the bank’s name. This information can typically be found on a voided check, a bank statement, or within the online banking portal.

These transfers are processed through the Automated Clearing House (ACH) network. Once the necessary banking details are provided, the payer initiates the transfer, and funds are automatically moved from their account to the recipient’s. While setting up direct deposit may take one to two pay periods to become effective, subsequent payments are typically credited on the scheduled pay date.

ACH transfers are also used for various other electronic payments, including bill payments and transfers between different bank accounts. For an ACH transfer, the sender requires the recipient’s full name, bank account number, routing number, and the account type, such as checking or savings. These transfers usually settle within one to three business days.

Wire transfers provide a faster method for moving funds, often completing within hours, but they typically incur higher fees than ACH transfers, ranging from approximately $15 to $50 for domestic transfers and more for international ones. To receive a domestic wire transfer, the sender requires the recipient’s full name, address, bank name, account number, and routing number. For international wire transfers, a SWIFT/BIC code, which identifies the recipient’s bank globally, is also necessary, and sometimes an International Bank Account Number (IBAN) is required.

Using Digital Payment Services and Money Orders

Digital payment services provide convenient platforms for sending and receiving money, with the option to transfer those funds to a linked bank account. Applications such as Zelle, Venmo, PayPal, and Cash App allow users to receive payments from others directly within the service. To move these received funds into a traditional bank account, users must link their bank account by providing their bank’s routing and account numbers within the app’s settings.

Once linked, users can initiate a transfer from their digital payment service balance to their bank account. Standard transfers typically process within one to three business days without a fee. Many services also offer an instant transfer option for a small fee, often a percentage of the transfer amount, such as 1% to 1.75%, allowing funds to arrive in the bank account within minutes.

Money orders and cashier’s checks are pre-paid instruments that function similarly to personal checks for deposit purposes. These instruments are purchased for a specific amount, ensuring the funds are guaranteed. To deposit a money order or cashier’s check, individuals can use mobile deposit, an ATM, or visit a bank teller. The process involves endorsing the instrument and following the standard check deposit procedures for the chosen method.