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Depositing money: native banks, ATMs and on-line banks

When you need to deposit cash into your bank account, you have several options including your local bank branch or an ATM that accepts deposits. While it is not possible to make deposits directly with most online banks, there are often workarounds such as: B. the use of a money order or an on-line ATM.

Although many financial transactions are now cashless and many people track their finances digitally, cash is still important to many people.

When you need to add cash to your checking or savings account, there are a number of safe and practical options, including local bank branches and certain ATMs. Online banks don't usually have an easy way to deposit cash, but there are some ways to transfer cash to your account even without a physical bank branch.

Find out more about how to deposit cash in your particular situation:

How to deposit cash at a bank
How to deposit cash at an ATM
How to deposit cash at an online bank

How to deposit cash at a bank

If you belong to a regional or national bank, you can make a deposit at any branch. If you are part of a credit union, you can make a deposit with your home credit union or other branch if your credit union is part of a larger network.

The cash deposit at a local bank branch or credit union takes just a few steps:

Fill in a Deposit slip with your account number.
Place your Cash and payment slip in an envelope.
Give your envelope to one of the teller.

After a cash deposit at a physical bank or credit union, the cash will be counted and in most cases the money will be instantly available in your account.

If for some reason you can't get to your bank branch, you may be able to deposit at an ATM instead.

How to deposit cash at an ATM

Many banks allow customers to deposit cash directly at an ATM, but the process varies from bank to bank. Nowadays, depositing cash at an ATM is generally as easy as using your debit card at an ATM and inserting the cash directly. That said, there are a few things to keep in mind when depositing cash at an ATM.


Some ATMs require payment slips

Each bank has different ATMs, and some require a deposit slip or envelope for cash deposits. Read the ATM prompts carefully and use a payment slip to make a note of your account information and, if applicable, the amount you have deposited.

Make sure you count your money

If your bank allows you to deposit cash directly into an ATM without an envelope, you will need to count your cash before placing it in the machine. While ATMs are generally accurate, they can occasionally make mistakes counting and scanning bills. Knowing the correct amount in advance will allow you to check that the ATM has counted correctly after the deposit has been made.

If there are any problems, be sure to make a note of the ATM location and the time the error occurred in order to resolve the problem.

Funds are not immediately available

Unlike deposits made with cashiers, funds from cash deposits at ATMs are not always immediately available. It may take more than a business day for funds to appear in your account. So keep that in mind if you need the funds in your account right away. Generally, ATMs outside of bank branches will process funds into your account faster.

Even if you have an online bank with no physical location, there are still options for depositing cash.

How to deposit cash at an online bank

If you have an online bank with no physical location, there are still options to add cash to your account. However, the process depends on your bank and the specific circumstances.

Workarounds for depositing cash with an online bank

Try some of the following methods as alternative ways to transfer cash to your online bank account.

Transfer from another bank account

If you have another bank account with physical branches, you can deposit the money in person and then make a transfer to your online bank account.

Use a prepaid debit card

Some prepaid debit cards can be topped up with cash in retail stores. After topping up cash, you can use the debit card's online portal to electronically transfer money to your online bank account. However, there are fees for some prepaid debit cards. So you should be careful when making small deposits.

Buy a money order

You can purchase a money order from the post office as well as other locations so that you can electronically transfer your cash deposit to your account. Money orders may require a flat or percentage fee. So check in advance that this is the right approach for you.

Find an on-network ATM

Many online banks have a network of ATMs that allow you to deposit cash directly into your account. Check whether this is possible for your bank.

Regardless of how you deposit cash, make sure you take the money into account when managing your budget.

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