How Do You Deposit Money in a Bank?

Learn how to deposit money into your checking or savings account.

Depositing money is an essential banking task, and there’s more than one way to do it. Learn about different ways to deposit your paychecks and other forms of money into your checking or savings account.

What Is a Deposit?

A deposit is money placed into banking institutions for safekeeping. Deposits are made to savings accounts, checking accounts and money market accounts to increase the balance. Additionally, funds deposited into an account can be withdrawn at any time, transferred to another person’s account or used to purchase goods.

See: Banking 101 Guide — Tips and Terms You Need to Know

How to Deposit Money Into a Bank Account

There are several ways you can make a bank deposit, including the following:

1. How to Deposit Cash

If your bank has a local branch, you can deposit your money at the ATM at any time or with a teller during normal business hours. You can also fill out what is known as a deposit slip, so that your money will be deposited safely into your account.

2. How to Fill Out a Deposit Slip

Each bank has its own deposit slip, with the bank’s name and perhaps its routing number on it. You’ll need to fill out additional information so that your money is deposited correctly and without delay to your account.

Fill out your deposit slip with the following information:

  • Your Name. Print your first name, middle initial and last name on this line.
  • Your Address. Print your street address, city, state and ZIP code in the assigned spaces.
  • Your Account Number. The account number is usually found in the center section of numbers at the bottom of the checks in your checkbook, or on monthly statements for your checking or savings account. You can also find it when you login to your online account.
  • Date of the Deposit. Print the date you made the deposit on this line such as today’s date.
  • Amount of the Deposit. On what will usually be the right side of the deposit slip, you’ll see several lines with designated single-space boxes meant to hold a single number.

Related: 20 Perks of Direct Deposit

3. How to Deposit a Check

On your deposit slip, list each check you’re depositing separately on its own line, including the check number and check amount. Don’t forget to endorse each check before you deposit it.

Add up the deposits to get a subtotal, which you’ll enter in the appropriate space.

Enter the amount of cash you wish to receive from the teller in the space immediately below the subtotal, and subtract it from the subtotal to calculate your total deposit.

4. How to Specify a Withdrawal From a Deposit

If you would like to make a cash withdrawal at your bank branch rather than use your debit or ATM card you’ll need to fill out a withdrawal slip, which is similar to a deposit slip. Once all the accurate information is filled out on the slip, present it to the teller to get cash. The only additional thing you’ll need to provide is your signature and the amount of money you wish to take out. The teller might also ask you for identification, so make sure your ID is on hand.

Related: 10 Best Checking Accounts of 2017

5. How to Make a Check Deposit With Your Mobile Phone

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 an app on your mobile phone.

Here are the steps to do that:

  1. Log into 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.

When Will Your Deposited Funds Be Available?

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