The main ways to deposit money
You can deposit money into a bank account through an ATM, at a branch in person, by mail, through a mobile app, or by having someone transfer it to you electronically. Which method works depends on what you have on hand, how fast you need the money in the account, and what your bank offers. Most banks let you use more than one method, so you can pick based on the situation.
The speed varies widely. An ATM deposit or branch deposit usually shows up the same day or next business day. A mailed check takes five to ten business days. An electronic transfer from another account can be instant or take up to three business days, depending on the type of transfer and the banks involved.
Key Takeaways
- ATM deposits and branch deposits are the fastest for cash or checks, usually posting within one business day.
- Mobile app deposits work for checks only and require you to photograph both sides; they typically clear within one to three business days.
- Mailed checks take five to ten business days and require you to sign the back and include a deposit slip.
- Electronic transfers from another bank account can be instant or take up to three business days depending on whether you use wire transfer, ACH, or Zelle.
- Some banks charge fees for certain deposit methods, so check your account terms before you deposit large amounts.
Depositing cash or checks at an ATM
Most banks have ATMs that accept both cash and checks. You insert your debit card, enter your PIN, select deposit, and follow the prompts. For checks, the ATM will ask you to insert them one at a time or in a batch, depending on the machine. For cash, you place bills into the slot. The ATM counts and confirms the amount before the deposit is complete.
ATM deposits usually post to your account the same business day or by the next morning. Some banks post them instantly if you deposit before a certain time (often 8 p.m. or 9 p.m.). After you deposit, the ATM prints a receipt showing the amount and date. Keep this receipt until you see the deposit in your account online, in case there is a discrepancy.
Not all ATMs accept checks, and not all accept cash. If you are not sure whether your bank's ATM takes deposits, check your bank's website or call the branch. Some banks charge a small fee if you use an ATM outside their network, so use your own bank's machines when possible.
Depositing in person at a bank branch
Walk into any branch of your bank with your cash or checks and a teller will process the deposit on the spot. You do not need to have your debit card with you, but you will need to provide your account number. If you do not know it, bring your debit card or a recent statement.
Hand the teller your cash and checks along with a deposit slip (the teller can give you one if you do not have one). The teller will count the money, verify the check amounts, and ask you to sign the back of each check if you have not already. They will give you a receipt immediately showing what was deposited. The money posts to your account the same day or by the next morning.
Branch deposits are useful if you have a large amount of cash or multiple checks, because the teller can catch errors on the spot. If a check is missing a signature or has the wrong amount written, you can fix it right there instead of having the deposit rejected later.
Depositing checks by mail
Sign the back of each check and write your account number on the back as well. Place the checks in an envelope with a deposit slip (you can print one from your bank's website or write the details on a piece of paper: your name, account number, and the total amount). Mail it to the address your bank provides for deposits. Do not send cash by mail.
Mailed deposits take five to ten business days to clear, depending on the distance and your bank's processing schedule. The money will not be available to withdraw until the check has cleared, which can take even longer than the initial deposit time. If you need the money quickly, use an ATM, branch, or mobile deposit instead.
Keep a record of what you mailed and when. Take a photo of the checks before you mail them, or write down the check numbers and amounts. If a check goes missing in the mail, you will have proof of what you sent.
Depositing checks through a mobile app
Most banks offer mobile check deposit through their app. Open the app, select deposit, and choose mobile check deposit. Take a clear photo of the front of the check and then the back. The app will show you a preview and ask you to confirm the amount. Once you submit, the deposit is sent to your bank.
Mobile deposits usually clear within one to three business days. The money may be available for withdrawal before the check fully clears, but your bank will hold it if the check bounces. Make sure both sides of the check are fully visible and in focus, or the bank may reject the deposit and ask you to resubmit.
Mobile deposit works only for checks, not for cash. After you deposit a check through the app, do not deposit it again at an ATM or branch, or the check will be processed twice and you will owe the money back.
Electronic transfers from another account
If you have money in another bank account, you can transfer it electronically to your current account. The speed and method depend on the type of transfer. An ACH transfer (Automated Clearing House) typically takes one to three business days and is free. A wire transfer is faster—usually same day or next day—but costs money, typically $15 to $30. Zelle and similar peer-to-peer apps transfer money instantly or within minutes if both banks support the service, and they are usually free.
To set up an ACH transfer, log into your bank's website or app, select transfer, and enter the other bank's routing number and your account number at that bank. The bank will verify the account and then process the transfer. To send a wire transfer, call your bank or visit a branch, because most banks require you to authorize wire transfers by phone or in person for security reasons.
If you are transferring from a bank that is not your own, you may need to add that bank as an external account first. This process can take one to two business days. Once it is linked, future transfers are faster.
Deposits from your employer or government programs
If your employer or a government program (such as Social Security or unemployment benefits) deposits money directly into your account, you do not need to do anything. The money appears automatically on the scheduled date. This is called direct deposit. To set it up, provide your bank's routing number and your account number to your employer or the program administrator. You can find your routing number on a check, on your bank's website, or by calling the bank.
Direct deposits are free and reliable. The money usually arrives on the same day each month or pay period. If a deposit does not arrive on the expected date, contact your employer or the program to confirm they have the correct account information.
Frequently Asked Questions
How long does it take for a deposited check to clear?
A check deposited at an ATM or branch usually clears within one business day. A check deposited through a mobile app takes one to three business days. A mailed check takes five to ten business days. The bank may let you withdraw some or all of the money before the check fully clears, but if the check bounces, you will owe the money back.
Can I deposit cash through a mobile app?
No. Mobile apps only photograph checks. To deposit cash, use an ATM, visit a branch, or have someone else deposit it for you. Some banks offer cash deposit at partner retailers like Walmart or CVS, so check your bank's website to see if this option is available.
What happens if I deposit the same check twice?
The check will be processed twice and you will be charged twice. Your bank will eventually catch the duplicate and reverse one of the deposits, but this can take weeks. To avoid this, do not deposit a check at an ATM if you already deposited it through the app, or vice versa.
Do I need to be present to deposit money into my account?
No. You can mail a check, use an ATM, deposit through a mobile app, or have someone else deposit cash or a check for you at a branch. If someone else deposits on your behalf, they will need your account number but do not need your permission in writing.
Are there fees for depositing money?
Most deposit methods are free. Some banks charge a fee if you use an ATM outside their network, or if you make too many deposits in a month. Check your account agreement or call your bank to see what fees, if any, apply to your account.