How to Deposit a Check at ATM to Withdraw Cash
How to deposit a check at ATM is unthinkable for many as people think of ATMs as a place for withdrawing cash from bank account & make a queue outside to get money. However, specific ATMs do allow you to deposit money as well.
The process varies by bank and ATM, and you must refer to the bank’s policies and follow the prompts at the ATM, but the following steps are typically relevant to most of the ATMs for deposit transactions.
Steps to How to Deposit a Check at ATM
- Depositing with Envelope
- Depositing Without Envelope
How to Deposit a Check at ATM : Depositing with Envelope
Verify the ATM accepts deposits in an envelope.
Smaller ATMs and those at non-bank locations like those of convenience stores or restaurants may not support the function. In case, it does not have a marked slot for giving and/or accepting envelopes, it must not accept envelope deposits. Many modern bank ATMs may only accept without envelope deposits. The bank may not allow deposits at ATMs not affiliated with it. Check the financial organisation’s policies.
Insert ATM or debit card and enter PIN number.
The part of the process is exactly the same as when you withdraw cash.
Locate the “deposit” tab on the screen or similar button indicated by the screen. When there is no deposit option, no deposition is possible on this ATM.
Endorse checks to be deposited.
Sign the checks the back in the marked area. Add “for deposit only” below the signature for added security. In case of a loss of endorsed check, it can not cashed. It can only be deposited.
Prepare a deposit slip.
While using a slip from checkbook, name, address, and account number should already be on the check.
- While using a blank deposit slip which are available in a bank branch, fill name, address, and account number. Add the date to deposit slip.
- Enter the total amount of cash to be deposited, and individually list checks in the provided slots on the front of the slip.
- Enter the total amount of checks and cash to be deposited on the line provided to write the details.
- You are not required to sign a deposit slip while depositing funds into an ATM. A signature is only needed while seeking cash back from a deposit made at a teller window.
- You may wish to sign your checks and prepare deposit slip ahead of time, for convenience and safety.
- Limiting the time inside an ATM is safer and less likely to annoy people behind you in queue.
Use deposit envelope provided by the ATM.
Older machines do possess a small door to lift open to reveal deposit envelopes, whereas newer machines just spit envelopes out of a slot.
Even if deposit is organized into an envelope, transfer it to the envelope provided by the machine. Ensure to insert checks, cash, and the deposit slip into the envelope and do seal it securely. Write in the information, like name, date, and the deposit amount, requested on the outside of the envelope. The ATM may ask for any more time needed to prepare the deposit. Tap the indicated button to give added time to yourself to resume the setting of the envelop in order.
Insert completed and sealed envelope to verify the deposit.
The slot to insert the envelope must be clearly marked and may have flashing lights to indicate it. It can be the same slot to receive the deposit envelope. Either before or after making the actual deposit, enter the total amount of deposit as prompted by the ATM. Write the total amount on a piece of the paper as a reminder. Take care to write accurately. The bank must be able to correct any discrepancies, it is quicker & easier to get things right the first time. Confirm to get a receipt and keep it for the records, at least until deposits clear.
Wait for deposits to clear.
Funds will not be available immediately as deposits of cash or check by envelope are manually counted and entered into account. A typical wait time for fund availability at a ATM deposit is the second business day after the deposit.
How to Deposit a Check at ATM : Depositing Without an Envelope
Verify ATM accepts no-envelope deposits.
This is becoming a standard norm in ATMs at bank branches and is becoming more common in other locations. Check for notices on the screen of the machine. No-envelope ATMs generally have clearly-marked, separate slots for checks and cash. Insert card, enter PIN, and follow the prompts to make a deposit. The ATM after verifying allows to make no-envelope deposits.
Endorse and prepare checks.
You will not require a deposit slip for a no-envelope transaction. You may wish to add up the total dollar amount of the check deposits beforehand to compare to the total tabulated by the ATM. Go through deposited checks individually for any discrepancy.
Feed checks into the marked slot as and when prompted.
Many machines read checks regardless of orientation, but it is good to stack checks neatly and facing in the same direction. You need not feed the checks individually at newer machines. The maximum number of checks to be fed at once is displayed on the screen or machine.
Ensure the total amount is correct to complete the transaction.
You should be able to go through checks individually to make corrections when needed. Many machines provide the option of printing an image of the front of check(s) on the receipt. Use the option to add layer of proof of deposit for the records. Rejected checks, those with unreadable handwriting or printing will be returned to you at the end of the transaction.
Deposit cash into the appropriate slot.
One maximum for a stack of cash is 50 bills. Machine should be able to read cash in any direction, but a neat stack can only speed the process. Envelope deposits can be deposited together, cash and checks will need to be deposited in separate transactions. Deposit to indicate you’d like to make transaction when prompted on the screen to deposit the other.
Find out when deposits will be credited to account.
This may vary by financial institution under consideration. An advantage of non-envelope cash deposits is that the money is immediately available in account because it has been scanned and confirmed. Envelope cash deposits need to be opened, counted, and entered. Add funds to account right away and don’t have access to a bank branch, a non-envelope cash deposit may be the best bet. Check deposits require time to clear after being posted.
Follow the above steps and know by yourself how to deposit a check at ATM.