Nowadays you can deposit money at ATMs however; you can’t deposit money at just any ATM. This is because not all ATMs are set up to accept cash deposits. There is no specific rule regarding ATM cash deposits; it’s just some banks and credit unions accept ATM cash deposits while others don’t accept them.
- ATM allows you to perform quick self-service transactions like cash withdrawals, funds transfers, bill payments, etc.
- You should keep in mind that not every bank allows you to deposit money at any ATM
- Banks like Capital One, PNC, TD Bank, etc. allow you to deposit money at any ATM
- Banks like Bank of America, Chase, Citibank, etc. only allow cash deposits at their own ATMs
List Of Banks And Credit Unions That Allows Cash Deposit At Any ATM
1. Capital One
2. Navy Federal Credit Union
4. State Employees Credit Union
5. TD Bank
Capital One allows its consumers to deposit money at any ATM that’s part of the AllPoint network. There are more than 39,000 ATMs under AllPoint Network which is very convenient. Moreover, for some specific accounts, you can get reimbursed for up to $15 in ATM fees from other banks for every belling period and it will add to your account within 5 business days.
Navy Federal Credit Union
Navy Federal Credit Union allows cash deposits at 9000 CO-OP Network ATMs. But it will take about 5 days to complete the transaction so your deposit will be held for 5 business days. There is also a deposit limit; you can’t deposit more than $10,000 per day at CO-OP ATMs. You don’t have to pay any fees for the cash deposit.
PNC allows cash deposit at non-PNC ATMS but your funds won’t be available for 4 business days. Generally, it takes 3-4 business days to complete the process. Moreover, you will have to pay a fee while depositing cash via ATMs.
State Employees Credit Union
State Employees Credit Union supports cash deposits at any CashPoints ATM. There are no fees for cash deposits by CashPoints or SECU.
TD Bank allows cash deposits in any ATMs in the Cirrus or PLUS networks. The first $100 of your deposit will be available immediately. It will take 5 business days to available the rest of the funds. You might also have to pay a fee depending on the ATMs.
List Of Banks And Credit Unions That Only Allow Cash Deposit At Own ATMs
1. Bank of America
4. Pentagon Federal Credit Union
5. U.S. Bank
6. Wells Fargo
Bank Of America
Bank of America only allows cash deposits at Bank of America-branded ATMs. However, you can withdraw cash, check transfers, and balance from other ATMs. You will charge a $2.50 fee from BofA in addition to other fees from the ATM owners.
In Chase ATMs, you can only deposit cash and checks. Check supports withdrawals, transfers, and balance inquiries from other ATMs. For every out-of-network ATM transaction, you have to pay a $2.50 fee. If you have a Premier Plus Checking account then you don’t have to pay any fees. Though, you might have to pay the owner’s ATM fees.
You can easily deposit cash and checks at Citibank ATMs. You can use the non-Citibank ATMs in the MoneyPass network to withdraw cash, check the balance, etc. You don’t have to pay any fees for cash deposits or money withdrawal.
Pentagon Federal Credit Union
Pentagon Federal Credit Union only allows cash deposits on their own ATMs. However, you can perform other financial functions like withdrawals at AllPoint or CO-OP ATMs. You don’t have to pay any extra fees. You can withdraw money from other types of ATMs but you have to pay fees to the owners of the ATMs.
U.S. Bank doesn’t allow cash deposits at ATMs that don’t have the U.S. Bank logo. Once you deposit the cash it might take up to 5 business days to complete the transaction. U.S. Bank supports withdrawals, transfers, and balance checks at other ATMs. You will be charged a $2.50 fee for such a transaction.
Wells Fargo allows its users to deposit funds into a Wells Fargo checking account from any Wells Fargo ATM. However, you can make withdrawals, transfers, and balance checks from other ATMs. You have to pay a Wells Fargo fee of $2.50 along with an additional charge from the ATM owners.
How To Deposit Cash At An ATM
Depositing cash at an ATM is very easy and most of the ATMs have similar working procedures. Here are the details:
1. First, you have to locate an ATM that allows cash deposits and is also supported by your bank
2. Now you have to use your debit card and PIN to access your bank account from the ATM. If you are a Chase bank user then you can enjoy cardless ATM access through your mobile wallet
3. Once you log in to your account you will see several transaction options on the screen. Now from the available options, you have to choose the deposit option to start the process
4. Now enter the amount that you want to deposit and then insert your cash into the ATM. You can directly insert the money or some banks may provide an envelope to use for your deposit.
5. If you are using an envelope then make sure whether you have to fill out any information on the envelope before inserting it into the ATM.
6. Once you have deposited the cash and the transaction is completed make sure you collect the printed confirmation receipt.
7. Finally, collect your debit card from the ATM.
FAQs About Cash Deposit At Any ATM
1. How Much Cash Can You Deposit At An ATM?
The answer to this question depends on which financial institution you are using as well as the ATM you are using. Usually, most banks and other financial institutions don’t have any type of deposit limits on ATM cash deposits. These ATMs are designed to accept money deposits of any amount.
2. How Do You Deposit Cash With An Online Bank?
There are many ways you can deposit cash with an online bank. One of the most convenient ways is to convert your cash into a money order or cashier’s check, and then deposit it by mail or through the online bank’s app.
3. Can You Deposit 10 Dollars In An ATM?
Yes, you can deposit 10 dollars in an ATM. In fact, you can deposit $1, $2, $5, $10 at any ATMs. You can deposit any denomination you want whether it is $20, $50, or $100 bills.
4. Can ATM Detect Fake Money?
Yes, ATM can detect fake money and they can also track it back to you. It is against the law to deposit fake money and there are chances you will be charged with passing counterfeit bills.
5. How Long Does A Cash Deposit At An ATM Take To Clear?
The answer to this question depends on which financial institution you are using. On many occasions, the deposit amount might be available immediately or within one business day. Some banks and financial institutes might take 5 business days to clear your funds.
6. How Much Cash Can You Deposit Without Raising Suspicion?
Any cash deposit below $10,000 can be deposited without raising suspicion. When you deposit $10,000 or more, the bank or financial institution has to file a form reporting the transaction. If you made two separate deposits of $5000 or more the bank also has to report it.
Last Updated on October 22, 2022 by Magalie D.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.