Withdrawing money from an ATM is common, but so many people do not know how to deposit cash in ATM. Are you one of such people? I guess that’s the reason you are here. Don’t worry, this blog post is dedicated to teaching you how to deposit money into an ATM. So sit back and relax as you read the entire piece.
The advent of modern-day technology has to a great extent made life easier for mankind. This is more notable in the banking sector of the world’s economy. With it, people now easily perform banking transactions like cash withdrawal, sending money with routing and account number, wire transfers, and deposits without having to go into the banking hall.
The introduction of the ATM has been a great medium for achieving these. So many persons however are aware of how to withdraw money from the ATM but when it comes to how to deposit money at the ATM, they are left wondering about its possibility and process. Well, as you read this article, we will establish if it is possible and then how to deposit money in an ATM.
Can You Deposit Cash Into An ATM?
Fortunately, the answer is yes. You can deposit money to your bank account at an ATM. And of course, you know most ATM services are 24/7 which implies that you can make deposits outside banking hours with the use of an ATM.
It is important to let you know at this point that not all ATMs accept deposits and you cannot use all ATMs. As you read in, you will get more info on this but let’s see how to deposit money in an ATM first.
How To Deposit Cash In An ATM
When it comes to depositing money at an ATM, first you have to locate an ATM that accepts deposits. After that, get your required item ready. The items you need are your cash, an envelope, your account number, PIN, and in some cases your debit card.
There are two ways to deposit cash in an ATM. Continue reading to know how to deposit cash in an ATM with or without a debit card.
How To Deposit Cash In An ATM With A Debit Card
The steps below are how to deposit cash in an ATM with a debit card.
- Insert your card into the machine and enter your PIN.
- On the next screen, click on the deposit option.
- Choose the action that you want the cash to be deposited to.
- Place the money that has been enveloped into the cash deposit slot of the ATM.
- Confirm the amount on the screen and click continue.
- Collect the receipt that was generated.
- Confirm that the section has ended and take out your debit card before leaving.
How To Deposit Cash Into An ATM Without A Debit Card
If you want to deposit cash and you are not with your debit card or you do not have a debit card. Here is how to deposit in an ATM without a debit card.
- On the screen of the ATM, click on deposit cash without a card.
- Enter your the recipient’s account number
- Confirm the name of the account holder displayed on the screen and click enter.
- Place the money in the deposit slot and click continue.
- Confirm the cash summary and click deposit.
- Collect the generated receipts before you end the transaction.
After taking these steps, the money will be deposited into your account in no time.
How Much Can I Deposit In An ATM?
As part of the process of how to deposit cash in an ATM, the maximum amount or limit of how much cash you can deposit is important. For most ATMs, there is no limit to how much you can deposit. You can deposit as much cash as you desire using the ATM.
Nevertheless, some banks or ATMs have a limit on how many notes can be deposited at a time. Some do not accept more than 20 notes at a time and others more than that. So if you are faced with such a situation, what you have to do is to split your cash into 20s and deposit them gradually. Wells Fargo for example allows you to deposit 30 bills or notes at a time. This could be 30 of $1000 or 30 one dollar.
If I Deposit Cash At An ATM, When Will It Be Available?
Furthermore, on how to deposit cash at an ATM, let’s see how long it would take after deposit for the money to be available. The time usually varies from bank to bank hence it is advised that you check your bank funds availability policy to confirm.
That notwithstanding, most deposits to a no-envelop ATM might be available immediately or within one business day. While envelopes and check deposits might take a longer time.
Are There Charges To Deposit Cash In An ATM?
Yes, depositing cash in an ATM attracts charges. Especially if you are using an out-of-network ATM. The fees however vary from bank to bank. On average, you are expected to be surcharged in an amount of $3.09. Then the bank union would also charge about 1.63 dollars thereby summing up to make an average charge of $4.69.
This is just the average, some banks do not charge any amount for ATM cash deposits.
How To Locate The ATM That Accepts Cash Deposit Near Me
Remember we noted earlier that the steps on how to deposit cash in an ATM discussed above do not apply to all ATMs. So to know the ATM that accepts deposits near you, take any of the two steps.
- Go to your website or banking application of your banking. Input your location and search for the nearest deposit ATM.
- You can also go to the browser on your phone, and type in the name of your bank and your location on the search bar to locate the nearest ATM.
Can I Deposit Cash In An ATM Not Owned By My Bank?
Most banks would not all you to deposit cash in the ATM of another bank. However, it is possible on a few occasions if your bank Is in partnership with the other bank. Note that if you are going to use an ATM not owned by your bank (out of network ATM), you would be charged for it.
Can You Deposit Cash At An Atm To An Online-only Bank?
Many online-only banks like Cash App, Netspend, Greendot, etc. Do not allow users to deposit cash at the ATM. Rather, users can explore options like wire transfers, ACH transfers, and reload locations and stores like CVS, Walmart, Walgreens, etc.
Is It Safe To Deposit Cash In An ATM?
Lastly, on how to deposit cash in an ATM, let’s talk about safety. Depositing cash in an ATM is not as safe as in-branch deposits or transfers. This is because moving around with cash is risky and you are prone to get robbed.
Also, errors occasionally occur with ATM deposits. And when this happens, the chances of getting them corrected immediately are minimal.
With the content of this article, I bet you have learned how to deposit cash in an ATM just like it Is done with cash withdrawal.
Added to the process of how to deposit cash in an ATM, I also took you through how to locate the ATM nearest to you, how to deposit into an online-only bank, how much you can deposit in an ATM, the cost, and others. If you encounter any difficulty in the process, always consult your bank.