ATMs are a fast and convenient way to carry out simple banking services. You can withdraw cash, enquire about your balance, and also deposit money at ATMs.
This article will talk about the process of depositing cash in an ATM.
ATM is short for Automatic Teller Machine and banks set them up in various places to make banking accessible. All you need to access is your Debit card, ATM card, and PIN. You can also use some ATMs without your card.
Here is a detailed guide for ‘how to deposit money in ATM’ using your card -
STEP-1: Find an ATM that has the cash depositing function enabled. You can find it at major spots.
STEP-2: Insert your card in the ATM slot and follow the instructions on the screen.
STEP-3: Select your preferred language and enter your secret PIN when prompted.
STEP-4: Select the ‘Deposit’ option from the given list of services on the screen.
STEP-5: Follow the instructions on the screen, and enter the amount you want to deposit. Also, select the type of account you have. Click on ‘Confirm’ once you enter the information correctly.
STEP-6: The ATM will tell you to deposit the cash in the designated cash slot. Count the bills properly and insert them.
STEP-7: Click on ‘Confirm’ to complete the transaction, if the ATM displays the right amount that you deposited.
STEP-8: You can choose to print a receipt of the transaction once it is completed.
As you know you can carry out cardless cash withdrawals from an ATM in case you have forgotten to carry your card with you. We will also take a look at ‘how to deposit cash in ATM’ without a card -
STEP-1: Visit an ATM that has the facility to deposit cash without a card and choose the ‘Cash deposit without card’ option.
STEP-2: Choose your preferred language and follow the instructions on the screen.
STEP-3: You will have to enter the account number of the account where you want to deposit the money.
STEP-4: The name of the account holder will be displayed on the screen. If it is correct, choose ‘Confirm’.
STEP-5: Enter the amount you want to deposit and click on ‘Confirm’. Place the bills in the designated slot when prompted.
STEP-6: The ATM will display a summary of the cash deposited. If it is correct, choose the ‘Deposit’ option.
STEP-7: The amount will be deposited, and once the transaction is over, the ATM will generate a receipt.
Please note that all ATMs are not the same and the process may slightly vary depending on the machine you choose.
Depositing money at ATMs is convenient as you can avoid going to the bank and waiting in long queues. However, there are certain things to take care of before knowing how to deposit money in ATM -
Make sure the ATM you choose has the facility to deposit cash
Count the bills carefully before depositing them in the ATM
Carefully check the deposit slot for any obstructions
Keep your receipts safe till you have confirmed that the amount has been deposited in your account
Choose an ATM that is in a well-lit and crowded area
Shield the keypad while entering your PIN
Don’t leave your card unattended
Don’t write your ATM PIN anywhere
No, you cannot deposit cash at every ATM.
Cash can be withdrawn from all ATMs but deposits can only be made in ATMs that are connected to your bank. You will find special kiosks where you get additional services like cash deposits.
Unlike depositing money at banks, ATMs have a cap on how much money can be deposited. The exact amount that can be deposited may vary based on the bank, type of account, and card of the customer.
Generally, you can deposit a maximum of Rs.49,900 in one transaction if you are depositing money without using your card. If you use your card to complete the transaction, the limit increases to Rs.20 Lakh per transaction.
However, your account must be linked to your PAN card to be able to complete such huge transactions.
ATMs are not the only way to deposit money in your account. You can also deposit cash or cheques in your bank account through the following methods -
Deposits can be made at your nearest bank branch. You will have to fill out a form for it, but it is a fairly easy process.
Some banks also offer mobile banking options where you can deposit cheques using the phone camera.
Banks set up ATMs on most major streets, shopping malls, or near hospitals. They are pretty easy to come by and help you save a lot of time. They save time and make life easier by making cash accessible. There is no need to carry cash with you everywhere.
Given the added feature of cardless cash withdrawals, you can also skip carrying your card. You can simply withdraw money using your UPI app on your smartphone.
There are however some disadvantages like deposit limits. Generally, banks don’t have a limit to how much money can be deposited, unlike ATMs.
Yes, you can deposit money in the ATM to your bank account. For this to work, your ATM needs to have the money depositing option enabled.
According to the rules set by RBI, you can deposit Rs.49,900/- per transaction as part of a cardless deposit. You can deposit Rs.2 Lakh per transaction if you carry out a transaction with your card. You can deposit up to 200 currency notes in a single transaction.
If the ATM takes your money but doesn’t deposit it in your bank account, you should contact the bank at the earliest. The emergency contact numbers are mentioned in the ATM kiosk itself and you can call them with your complaint.
You can deposit money in an ATM with or without a card.
Yes, you can deposit Rs.5,000 in your bank account easily. You can either visit the bank branch and deposit it in person or do it via an ATM.
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