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How To Deposit Money Into Your Bank Account

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Depositing money into your bank account safeguards the funds and makes them available for you to spend or withdraw when you need it. Deposits are an essential banking task, and there’s more than one way to make them. Keep reading to learn about different ways to deposit your paychecks, cash and other forms of money into your checking or savings account.

How To Deposit Money at a Bank or Credit Union Branch

Depositing money in person at a bank or credit union branch is the easiest way to add cash to your account. It’s also the most versatile way in terms of the types of payments you can deposit and the number and dollar amount of payments you can deposit at one time.

You usually need to fill out a deposit slip to deposit money at your bank branch. Each bank has its own deposit slip with the bank’s name and perhaps its routing number on it. You can use the preprinted deposit slips the bank or credit union provided when you opened your account, or you can use one of the blank slips typically provided inside the lobby. Filling it out properly ensures that your money is deposited into your account correctly and without delay.

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How To Fill Out A Deposit Slip

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Keep in mind that checks generally must be endorsed before you can deposit them.

How To Deposit Money at an ATM

You can make cash or check deposits at any ATM that accepts them, even if the ATM is outside of your bank’s network. However, expect a delay if you’re not using your own bank’s machine.

Count your cash and endorse your checks before you arrive at the ATM. Once there, insert your debit or ATM card and follow the on-screen prompts to make your deposit. These are the steps you’ll likely need to follow to make an ATM deposit:

  1. Insert your debit card and punch in your PIN to access your account. Alternatively, use a mobile wallet for a no-contact ATM transaction.
  2. Select “deposit” from the transaction types available.
  3. Select the account you want to receive the money.
  4. Insert your cash into an envelope if one is provided, and write any information indicated on the envelope. Insert the cash and/or checks into the machine when prompted.
  5. Wait for your receipt. Keep it in a safe place in case there’s a problem with your deposit.

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Good To Know

Note that some banks place restrictions on ATM deposits. Wells Fargo, for example, doesn’t allow foreign check or currency deposits, and it limits deposits to 30 checks or bills.

How To Make a Mobile Check Deposit

If you make a mobile check deposit, you don’t need to fill out a deposit slip. For most banks, you’ll just access your bank account online with a mobile banking app on your smartphone.

Here are the steps to do that:

  1. Log in to your account.
  2. Snap a photo of your check.
  3. Confirm the dollar amount and other details as requested.
  4. Your mobile deposit is made.

Before you try to deposit anything other than a personal, business, cashier’s or government check drawn from a U.S. bank, check to make sure your bank’s mobile deposit feature allows it. Bank of America, for example, doesn’t allow mobile deposits of traveler’s checks or money orders.

More Ways To Deposit Money Into Your Bank Account

Standard in-branch, ATM and mobile deposits aren’t your only options for depositing money. Here are some more:

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When Will Your Deposited Funds Be Available?

Your bank has a funds availability policy that determines how long you’ll need to wait before you’ll have access to your noncash deposits. Many banks allow you to take a set amount of money, such as $100, immediately. The rest is then available to you on the designated day.

Kim Olson contributed to the reporting for this article.