What Is Chase ATM Credit and How Does It Work?
Understand Chase ATM credit: learn how your deposits work, when funds become available, and how to track your money.
When you interact with your bank account through an Automated Teller Machine (ATM), you might encounter “ATM credit.” This term refers to funds added to your account via an ATM transaction. Understanding when these funds become usable is important for managing your money effectively. This article explains Chase ATM credit, how deposits become available, and how to track their status.
Understanding Chase ATM Credit
“Chase ATM credit” means a financial credit has been posted to your account from a Chase ATM transaction. This typically occurs when you deposit cash or checks using the machine. It signifies the initial recording of the deposit. This term does not imply a loan or credit from the bank.
Instead, it represents the preliminary stage of a deposit before funds are fully processed and cleared for use. For instance, if you deposit cash, the ATM immediately registers the amount, leading to an “ATM credit.” A check deposit at an ATM will also show as an “ATM credit” initially. This credit acknowledges that the deposit has been received by the bank’s ATM system.
How Deposits Become Available
The availability of funds from an ATM deposit depends on the type of deposit and transaction timing. Cash deposits made at a Chase ATM are generally available for immediate use or within 24 hours. This is because cash is a verified currency that does not require additional verification.
For check deposits, funds typically become available by the next business day. A “business day” includes days when the bank is open, excluding weekends and federal holidays. Federal regulations, specifically Regulation CC, mandate that at least the first $225 of a personal check deposit must be made available no later than the next business day.
Deposits made after Chase’s cut-off time, generally 11:00 PM Eastern Time (8:00 PM Pacific Time) for ATM transactions, are processed on the following business day. This means a deposit made late on a Friday might not begin processing until the next Monday. Extended holds on check deposits can occur for reasons such as large deposit amounts, new accounts, or a history of multiple overdrafts. The bank is generally required to notify you if an extended hold is placed, providing the reason and expected availability date.
Monitoring Your Deposit
After making an ATM deposit, you can monitor its status and confirm when funds become fully available through Chase’s digital platforms. The Chase Mobile app and online banking portal offer convenient ways to track your transactions. You can view your account’s transaction history or look for pending transactions to see the deposit status.
Within these platforms, pay attention to your “available balance” versus your “current balance.” The available balance reflects funds you can immediately use, while the current balance includes all posted transactions, even those still on hold. Chase also allows you to set up email or text notifications to receive alerts when deposits are received and when funds become available.