You can deposit money at many ATMs, but not all of them. If you use an ATM-especially where the exchange of cash is involved-check your surroundings and make sure the machine is in a well-lit area. Remember, using an ATM also opens up the possibility of being robbed or having your bank information stolen. Make a note of any restrictions and fees. The bank should have a list of authorized ATMs on its website or in its mobile app. Tips for Making Cash Deposits at an ATMįamiliarize yourself with your bank’s policies concerning ATM cash deposits. Other banks may charge you a fee on top of the ATM operator’s fee for using an ATM outside of its network. Some banks will reimburse customers for out-of-network ATM fees. There’s a chance the ATM operator will charge you a fee for using its ATM. PNC Bank, for example, accepts cash deposits at non-PNC ATMs, but your funds may not be available for up to four business days. If you find a bank that allows out-of-network ATM deposits, keep in mind that the processing time may take longer than at an in-network ATM. Often, banks mainly accept cash deposits at branch ATMs or machines that are part of a more extensive ATM network. Capital One 360 doesn’t accept cash deposits through its ATM network partner, Allpoint, but it does accept cash deposits at ATMs in its Capital One Cafés and branch locations.Ĭheck with your online bank to see if you can make cash deposits at ATMs and for any rules or limits you need to follow. For instance, Radius Bank allows fee-free cash deposits at its in-network ATMs. Some online banks do allow cash deposits at ATMs. Instead of cash deposits, online banks may offer other options like bank transfers and mobile check deposits. That’s because online banks typically don’t have the overhead costs associated with traditional brick-and-mortar banks. Online banks are known to provide higher interest rates and convenient ways to bank digitally. Can You Deposit Cash Into an Online Bank Account?īecause of the nature of online banks, they tend to offer fewer cash deposit options, including ATM cash deposits. Your bank-or the cash machine-may determine these limits.Īs mentioned, Wells Fargo allows a deposit of up to 30 bills and checks total per transaction. You’re more likely to encounter limits on the number of individual bills you can deposit at a time. Check with your bank to see if it has any ATM deposit limits. Generally, there isn’t a limit on the dollar amount you can deposit at an ATM. If you’re using an in-network ATM, the deposit usually shows up within the same day or on the next business day. Wait for your funds to show up in your account. Print your receipt, remove your debit or ATM card and confirm the transaction is complete.If the ATM uses envelopes, fill out the required fields and put your cash inside before inserting the envelope. Most ATMs allow you to deposit a stack of bills without using an envelope. Choose the account that will receive the deposit.Select the option for making a deposit.If your bank allows cardless ATM access, you can log in using your mobile phone. At the ATM, insert your debit or ATM card and enter your PIN.Count your cash so you know how much you’re depositing. If you’re depositing checks, sign them in advance.
Check your bank’s website or app ahead of time to find an ATM that allows deposits.The process of depositing cash at an ATM may vary slightly depending on the machine or financial institution, but these are the general steps: For example, Wells Fargo allows you to deposit up to 30 bills and checks combined when making a deposit at one of its machines. Some banks also set limits on how many bills (individual bank notes) you can deposit through an ATM. Capital One, for example, has a one-time cash deposit limit of $5,000. Deposit limits exist, too, although they’re less common. You may know that most banks have ATM withdrawal limits. But many financial institutions allow cash deposits at ATMs within their networks. There’s no universal rule on ATM cash deposits-it’s at the discretion of the bank or credit union. You can deposit cash at many ATMs, but not all of them. Here’s a closer look at where and how you can deposit cash at an ATM. For example, at online banks, you may have to jump through some additional hoops to deposit cash into your account. However, this doesn’t apply to all financial institutions. Many banks and credit unions allow you to deposit money at either branch or in-network ATMs.
Despite digital banking’s rising popularity, there are still areas where traditional banking excels-including if you want to deposit cash at an ATM.
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