How to deposit cash at an ATM

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Can you deposit cash at an ATM? The answer depends on your bank, the ATM you’re using and a variety of other factors — but generally speaking, yes, you can make cash or check deposits at many modern ATM terminals.

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For most customers, depositing money at an ATM isn’t the only option, or even necessarily the most convenient. Still, it’s a good system to understand if you’re someone who regularly deals with cash payments and you’d like to use those monies to pay for things.

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How to make ATM deposits

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To deposit cash via ATM, the first thing you need to do is ensure that the ATM you’re visiting is capable of taking cash deposits — and that your bank takes deposits through that particular type of ATM.

When is the money available with ATM deposits?

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At some ATMs, cash deposits are made available immediately, while with other ATMs you may experience some lag between the moment you feed the money into the machine and the moment the money shows up in your account balance.

Potential problems with ATM deposits

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Well, for starters, the length of time a deposit may be held can be problematic for some customers if they need access to the funds as soon as possible. And the automated reader on some ATMs may refuse to accept legitimate bills, at least on the first try, which can be frustrating.

Are there any fees for depositing cash at an ATM?

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If you’re using an in-network ATM that’s directly linked to your bank, you’re unlikely to encounter any fees. But if you’re using an out-of-network ATM, there are a couple of fees you might need to be on the lookout for.

Why make an ATM cash deposit?

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Making ATM cash deposits is sometimes the best way to get that money into an account where it can be more readily used to pay bills — or transferred to a savings or investment account, where it may earn more interest.

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