It may come as a surprise to hear that many people do not know how to deposit money in ATM machines. Most account holders who are granted automatic teller machine access have never made a deposit before with their ATM card. This may be because people do not trust the machine to accurately complete their transaction, and are uncertain as to what account the money is being deposited into. Another possible reason could be simply because people prefer to take money out of the ATM as opposed to putting money in.
Contrary to whatever the reason is, making deposits through ATM’s is a secure and easy transaction. Automatic teller machines allow the cardholder 24-hour access to all their banking accounts. This helps eliminate the rush to the bank during normal banking hours creating a hassle-free, drive-thru experience. The cardholder can quickly get their money in their checking or savings account before that day’s business even occurs.
No matter what time the deposit is being made at the ATM, there are a few necessary procedures to follow that are similar to traditional deposits made by a banking teller. Many banks are changing the way they conduct business, so it is always advised to check with your bank regarding their specific requirements for automatic teller machine usage.
The following information will explain how to make deposits through ATM machines using the most common procedures. Depending on the policies of your particular bank, you may or may not need to fill out and submit a deposit slip. You will however, need to endorse the check(s) and, if preferred, include your account number. If your bank requires the use of an envelope, then place the slip and checks inside, seal it and write your name and the deposit amount on the front.
Now you are ready to use the ATM to make your deposit. The first thing to do is to put your card in the slot and enter your PIN number. Then on the options menu select “deposit”. On the next menu you will select whether you want your deposit to go in your checking or your savings account.
At this point you may be asked to enter the amount of the deposit. If so, enter the amount then press enter. Some teller machines accept deposits without an envelope and will prompt you to insert your check(s) in the appropriate slot. It scans the deposit then asks if the amount is correct. You will need to verify the amount then select complete deposit. Now the deposit is complete and you will have the option to select a receipt, another transaction or for the machine to return your card.
Now that you know how to deposit money in an ATM machine you can quickly and efficiently process all of your deposit transactions at your own convenience. You can rest assured that the bank knows the deposit belongs to your account because it is associated with your ATM card. You will quickly realize that using an automatic teller machine for making deposits is as simple as making a withdraw.