We often tend to believe that ATMs (also called ATMs or ATMs from the English Automated Teller Machines) are generally only enabled to withdraw money from your current account. However, many devices also allow you to make deposits. The exact procedure varies according to the type of branch and the bank connected to it; you should also follow the regulations issued by the credit institution and follow the instructions that appear on the monitor. This article describes the most important steps that you take in most ATM transactions.
Steps
Method 1 of 2: Pour the Money into the Envelope
Step 1. Verify that the counter accepts the money deposit contained in an envelope
Smaller devices and those that are not physically connected to a bank, such as those you can find in shopping malls, may not allow this type of operation. If a clearly identified slot that issues and / or accepts envelopes is missing, the machine is not enabled.
- Some modern branches only accept cash deposits without an envelope. Continue reading this article for information on this procedure.
- Your bank may not allow you to deposit money at an office it is not affiliated with. Check the conditions of your checking account before proceeding.
Step 2. Enter your debit card and enter the PIN code
This part of the procedure is identical to the one you normally follow to withdraw cash.
Locate the "deposit" button on the monitor or the corresponding physical button indicated by the screen (as is the case on older devices). If this option does not appear, it means that you have not been lucky and that particular machine does not allow you to deposit the money
Step 3. Turn over the checks that need to be paid
Sign them on the back in the space provided.
For added security, add the note "valid for deposit only" under your signature. That way, if you lose it, your check could only be deposited and not redeemed
Step 4. Prepare your deposit slip
If you are using the one on your checkbook, it should already be pre-filled with your personal details, address and account number.
- If you are using a blank list, such as those you can find in bank branches, fill it in with your first and last name, address and bank account number. Remember to add the payment date as well.
- Enter the total amount of cash you are about to pay on the appropriate line and write down the details of each check in the spaces on the front of the slip (in some cases you will need to include this information on the back as well).
- Enter the total value of the checks deposited and that of the cash on the line dedicated to this purpose.
- You do not need to sign the slip when you deposit via the ATM. The signature is required when you ask to withdraw part of a deposit made at the bank cashier.
- You should sign the checks and prepare the bill in advance, both for convenience and safety. It's best to minimize the time you spend in front of an ATM; this way you stay safe and don't bother people who are waiting in line.
Step 5. Use a deposit envelope that is provided by the counter itself
Older machines are equipped with a small door that you can lift and inside which the bags are located. Modern models, on the other hand, emit the envelope individually from a slot.
- Even if you have already prepared the deposit in your own envelope, transfer it all into the one that is provided to you by the machine.
- Remember to enter all checks, cash and the bill. When finished, seal it carefully.
- Write down some personal information on the outside of the envelope, such as name and surname, date and total paid. Report any additional information that may be required.
- A warning may appear on the machine screen asking if you need more time to prepare the deposit. Press the appropriate button to have more time, so you can check that everything is in order.
Step 6. Insert the well-filled and sealed envelope into the correct slot and check the deposit
The slot where you have to slide the envelope should be clearly identified by a writing and also by flashing lights. On some machines this may be the same opening that the empty envelope came out of.
- When prompted by the machine, before or after delivery of the envelope, enter the total amount of the payment. If you need a reminder, remember to write down the full amount on a piece of paper to enter the correct amount.
- Try to be specific. The bank should be able to rectify any discrepancies, but it is faster and safer to get things right right from the start.
- Confirm that you want a receipt and keep it in your financial records until the payment appears on your statement.
Step 7. Wait for the deposit to be registered
When making a cash or check deposit in an envelope, it must be verified and manually entered into your checking account by an employee; for this reason, the figure is not immediately available.
The common waiting times for a payment of this type are generally one or two working days after the date of the transaction. This means that if you deposit on Monday, the money will be available from Wednesday. If you run the operation on a Sunday (which is not a business day), you will still have to wait until Wednesday. ATM payments made at midnight must be considered by banks as having been made on that same business day
Method 2 of 2: Deposit the Money without an Envelope
Step 1. Verify that the machine accepts a deposit without an envelope
This is the mode that is increasingly becoming the standard for branches physically connected to a bank branch, but it is also spreading among others. To make sure, check the instructions that appear on the machine or monitor.
- This type of ATM typically has a separate, well-marked slot for inserting money and checks.
- Insert the debit card, enter the PIN code and follow the instructions that appear on the screen to make the payment. The machine will at some point check if you can proceed with a deposit without an envelope.
Step 2. Turn over and prepare checks
You don't need a deposit slip for this type of transaction.
You should add up the total of your checks in advance to be able to compare it with the one shown on the screen by the machine. If there are any discrepancies, you can check check by check
Step 3. Insert checks into the appropriate slot when prompted
Many machines are able to "read" them regardless of the orientation in which they are introduced; however, it is always better to put them all in the same direction.
In most modern ATMs, you can enter all checks at once. The maximum number of checks accepted in a single entry should be well indicated on the screen or on the machine, this number varies by bank
Step 4. Make sure the total amount is correct before completing the transaction
You should be able to check all the details of the various checks and make corrections if necessary.
- Many counters allow you to print an image of the front side of the check that serves as a receipt. Use this feature if you want to have additional evidence to keep in your recordings.
- Rejected checks, such as those that are unreadable or damaged, will be returned to you at the end of the transaction. If this does not happen, contact your bank.
Step 5. Pour the cash into the dedicated slot respecting the limits indicated on the door itself
Generally, no more than 50 paper money tickets can be introduced.
- Again, the machine should be able to read the money regardless of the direction of insertion, but a well-organized wad speeds up the process.
- Unlike envelope deposits, where you can deposit checks and cash together, in this case the money and checks must be placed in two separate transactions. After performing the first operation, confirm that you want to perform another one as soon as the prompt appears on the screen and proceed.
Step 6. Find out when the paid money will be available in your checking account
Times vary depending on the bank.
- The advantage of this type of transaction is that the cash is immediately available, because the machine checks it and confirms it. Payments in envelopes, on the other hand, must be opened, counted and entered manually. If you need immediate availability and do not have access to your bank branch, then envelope-less deposits are the best solution.
- Payments of checks require a certain period to be subjected to checks and are therefore provisionally accepted "subject to collection". Generally, all checks paid by 8:00 pm are considered to be deposited on the same business day, starting from which the value time will be counted.
Advice
Deposit procedures vary based on the type of ATM and the connected bank. For more detailed instructions, follow the instructions that appear on the monitor
Warnings
- Don't forget to take back your debit card after completing the transaction.
- Be careful. It's best to hide your PIN and other financial details once you walk away from the ATM. It is not uncommon for muggings and scams to take place in these places.
