Can You Deposit Cash At An ATM? (2024)

Despite digital banking’s rising popularity, there are still areas where traditional banking excels—including if you want to deposit cash at an ATM.

Many banks and credit unions allow you to deposit money at either branch or in-network ATMs. However, this doesn’t apply to all financial institutions. For example, at online banks, you may have to jump through some additional hoops to deposit cash into your account.

Here’s a closer look at where and how you can deposit cash at an ATM.

Can You Deposit Cash at an ATM?

You can deposit cash at many ATMs, but not all of them. There’s no universal rule on ATM cash deposits—it’s at the discretion of the bank or credit union. But many financial institutions allow cash deposits at ATMs within their networks.

You may know that most banks have ATM withdrawal limits. Deposit limits exist, too, although they’re less common.

Some banks also set limits on how many bills (individual bank notes) you can deposit through an ATM.

How To Deposit Cash at an ATM

The process of depositing cash at an ATM may vary slightly depending on the machine or financial institution, but these are the general steps:

Check your bank’s website or app ahead of time to find an ATM that allows deposits. If you’re depositing checks, sign them in advance. Count your cash so you know how much you’re depositing.

How Much Cash Can You Deposit in an ATM?

Generally, there isn’t a limit on the dollar amount you can deposit at an ATM. Check with your bank to see if it has any ATM deposit limits.

You’re more likely to encounter limits on the number of individual bills you can deposit at a time. Your bank—or the cash machine—may determine these limits.

There are three kinds of ATMs accepting deposits.

BNA: Bunch Note Acceptors accept currency notes in a bunch and quickly verify and deposit money in the account. BNA accepts 200 currency notes for one account at a time of 100, 500, and 2000. The maximum amount can be INR 50,000.

SNA: Single Note Acceptor accepts just one note at a time and pulls the note inside and verifies it. It can accept 30 notes for one account at a go of 100, 500, 2000 only. Amounting again to INR 50,000.

CRM: Cash Recycle Machine also accepts notes in bulk and verifies them instantly. It accepts notes again of the same denomination to the same amount.

Can You Deposit Cash Into an Online Bank Account?

Because of the nature of online banks, they tend to offer fewer cash deposit options, including ATM cash deposits. Online banks are known to provide higher interest rates and convenient ways to bank digitally. That’s because online banks typically don’t have the overhead costs associated with traditional brick-and-mortar banks.

Instead of cash deposits, online banks may offer other options like bank transfers and mobile check deposits.

Some online banks do allow cash deposits at ATMs. Check with your online bank to see if you can make cash deposits at ATMs and for any rules or limits you need to follow.

Depositing Cash at an Out-of-Network ATM

Not all ATMs accept cash. Often, banks mainly accept cash deposits at branch ATMs or machines that are part of a more extensive ATM network.

In India at this point in time ATMs are only accepting cash for bank accounts of their own bank.

This service is free of charge.

Tips for Making Cash Deposits at an ATM

Familiarize yourself with your bank’s policies concerning ATM cash deposits. The bank should have a list of authorized ATMs on its website or in its mobile app. Make a note of any restrictions and fees.

Remember, using an ATM also opens up the possibility of being robbed or having your bank information stolen. 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.

Bottom Line

You can deposit money at many ATMs, but not all of them. It depends on your bank or credit union. Before you try to make a deposit, check with your financial institution to learn which ATMs you can use to make a deposit—and if there are any associated fees or restrictions.

Alright, let's dive into the nitty-gritty of depositing cash at ATMs. Trust me; I've got the lowdown.

First off, kudos to you for recognizing that despite the digital wave, traditional banking still has its perks, especially when it comes to depositing cash at ATMs. Now, there's no one-size-fits-all rule for ATM cash deposits; it's up to the discretion of the bank or credit union. But many financial institutions do allow it, especially within their networks.

Now, the process itself can vary a bit, but the general steps are as follows:

Preparation: Check your bank's website or app to find an ATM that allows deposits. If you've got checks, sign them beforehand, and count your cash to know what you're depositing.
Card and PIN: At the ATM, insert your debit or ATM card and enter your PIN. If your bank is all modern and allows cardless ATM access, you can log in with your mobile phone.
Deposit Selection: Choose the deposit option and select the account for the deposit. If it's a stack of bills, most ATMs allow you to deposit them without an envelope. If envelopes are in play, confirm the deposit amount.
Confirmation: Print your receipt, remove your card, and make sure the transaction is complete.
Waiting Game: Now, patiently wait for your funds to show up in your account. If it's an in-network ATM, it usually reflects on the same day or the next business day.

But wait, there's more! Cash limits are a thing, not on the total amount but on the number of individual bills you can deposit at once. Some ATMs even have different categories, like BNA (Bunch Note Acceptors), SNA (Single Note Acceptor), and CRM (Cash Recycle Machine). These machines have their quirks but can accept varying numbers of bills and denominations.

Now, the plot thickens when it comes to online banks. They're all about that digital life, which means fewer options for cash deposits, especially at ATMs. But hey, some online banks do allow it, so check with yours for the scoop.

And here's a heads up: not all ATMs are created equal. Some won't touch your cash with a ten-foot pole. Mainly, banks prefer their own ATMs or those within a network. In India, for instance, ATMs currently only accept cash for their own bank accounts, and it's on the house.

Now, for the cherry on top, a pro tip: Get cozy with your bank's policies on ATM cash deposits. They'll have a list of approved ATMs, any restrictions, and fees. And, of course, keep your wits about you. ATMs can be hotspots for potential mishaps, so check your surroundings, and ensure you're in a well-lit area.

So, bottom line, you can deposit cash at many ATMs, but not all. It's a bank-specific affair, so before you embark on a deposit adventure, do your due diligence with your financial institution. You'll thank me later!