Should I start depositing cash at the ATM

[archcommus]

Do all ATMs let you do it or only some?

I'm really getting tired of going to my branch to deposit 20 bucks or something, the lines are always ridiculously long and there's only one teller ever working for some reason.

 

[Anonemous]

no express line? just deposit by envelope into the ATM.

 

[isekii]

I wouldn't deposit cash into the ATM.
Only Checks

 

[robothouse77]

some do, some don't. branches usually have ones that you can deposit in. the atm in your local bar, definitely does not

 

[archcommus]

I'd feed an entire envelope into the machine? I'd be too afraid the funds would never show up, I guess as long as it prints a receipt, though...

 

[archcommus]

Originally posted by: isekii
I wouldn't deposit cash into the ATM.
Only Checks

Why not, not safe?

 

[NikPreviousAcct]

Originally posted by: archcommus

Originally posted by: isekii
I wouldn't deposit cash into the ATM.
Only Checks

Why not, not safe?

Yeah, someone might come along and STEAL THE ATM MACHINE. Duh.

 

[BlueWeasel]

Originally posted by: archcommus
I'd feed an entire envelope into the machine? I'd be too afraid the funds would never show up, I guess as long as it prints a receipt, though...

I've been doing this for years, and they've not missed a deposit yet.

 

[Ns1]

why would you deposit 20 bucks?

 

[NikPreviousAcct]

Originally posted by: BlueWeasel

Originally posted by: archcommus
I'd feed an entire envelope into the machine? I'd be too afraid the funds would never show up, I guess as long as it prints a receipt, though...

I've been doing this for years, and they've not missed a deposit yet.

Exactly. That's why there's been this little deposit slot on ATM machines for decades.

 

[stan394]

Originally posted by: NeuroSynapsis
why would you deposit 20 bucks?

yeah spend it

 

[mchammer187]

i never do

i guess i'm just paranoid

normally i just let direct deposit go into my bank account

and I just pile up any checks for a few months and deposit them all at one time along with any cash i want to deposit which is usually once every 2-3 months

i dont see why anyone would need to go to the bank more than once a month unless you own your own business like a restaurant where large amounts cash must be deposited immediately

anyway if it is only 20 bucks why not just keep it around for spending money


i would feel retarded depositing 20 bucks because i'd end up taking it out of the ATM later that week anyway

 

[ComputerMonkey]

Been doing it for 10 years. Not one problem. I honestly can't believe that people still wait in line to make a deposit or withdrawl from a teller. It astounds me.

 

[amdskip]

I will only deposit cash to humans.

 

[archcommus]

I never really use cash for anything at all so I deposit any cash that comes into my possession (which isn't too often, since my I have DD for work).

Okay so there's no problem with doing it, might as well. What's to be paranoid about?

But I need to put it into an envelope first?

 

[isekii]

Depositing Cash and checks are pretty different.

Lets say you deposit $400 bucks in 100 dollar bills and only 300 show up.
How are you gonna prove that you actually deposited $400 bucks ?

You can put whatever amount you want in an ATM deposit. Just cuz it prints a receipt doesn't mean you actually deposited that amount.

 

[CRXican]

Originally posted by: NeuroSynapsis
why would you deposit 20 bucks?

that's what I'm saying, it's $20, that's what you take out of the ATM

 

[archcommus]

Originally posted by: isekii
Depositing Cash and checks are pretty different.

Lets say you deposit $400 bucks in 100 dollar bills and only 300 show up.
How are you gonna prove that you actually deposited $400 bucks ?

You can put whatever amount you want in an ATM deposit. Just cuz it prints a receipt doesn't mean you actually deposited that amount.

Well it wouldn't print the receipt until it verified you entered all the bills, correct? So I would assume that WOULD be proof.

 

[oogabooga]

in college : my friend deposited 500 dollars cash from work into an ATM. Not enough really to break him financially forever, but enough to hurt for a long long time. He never saw that money again. After that when i have cash : i either use it as cash, or deposit it to a teller and let them deal with it. Checks into an atm though i dont have a problem with.

 

[Ranger X]

I would highly advise against depositing cash at the ATM. I once deposited $110 for some stupid reason and the bank wrote me a letter saying I only deposited $100. I was lucky that they didn't come back and say I only deposited $10 but the point is, it's not safe. We all use cash and there is no point in depositing cash, unless you just got done selling drugs and you're looking to deposit a large sum of money. In that case, just go into the branch and deposit the money with a live teller.

 

[JW310]

Originally posted by: archcommus

Originally posted by: isekii
Depositing Cash and checks are pretty different.

Lets say you deposit $400 bucks in 100 dollar bills and only 300 show up.
How are you gonna prove that you actually deposited $400 bucks ?

You can put whatever amount you want in an ATM deposit. Just cuz it prints a receipt doesn't mean you actually deposited that amount.

Well it wouldn't print the receipt until it verified you entered all the bills, correct? So I would assume that WOULD be proof.

Except that's not how cash deposits at ATMs work. The ATM doesn't count the money you deposit; the money gets counted by a bank employee. With a deposit at an ATM, you put all the cash (or the check(s)) into an envelope (usually provided at the ATM) that you write your account information on. This envelope gets held in the ATM till someone from the bank collects the envelopes, and then takes them to have the contents of each envelope counted and amounts credited to the proper accounts.

JW

 

[EagleKeeper]

Originally posted by: archcommus

Originally posted by: isekii
Depositing Cash and checks are pretty different.

Lets say you deposit $400 bucks in 100 dollar bills and only 300 show up.
How are you gonna prove that you actually deposited $400 bucks ?

You can put whatever amount you want in an ATM deposit. Just cuz it prints a receipt doesn't mean you actually deposited that amount.

Well it wouldn't print the receipt until it verified you entered all the bills, correct? So I would assume that WOULD be proof.

ATM deposits accept envelopes not direct cash. You put the $$ in the envelope with a deposit slip and seal it. After the deposit is made, the ATM will generate you a receipt.

 

[Rumpltzer]

I haven't physically walked into a bank in like eight years... and the last time I did was to close my Wells Fargo account! I opened a Citibank account via the Internet and mail, and I do all my transactions at the ATM outside the bank or over the Internet.

I've never had a problem.

I used a non-bank ATM only once in my life under pressure from my girlfriend. It made me feel unsafe and dirty... I'm sure it was all in my head.

 

[Suspicious-Teach8788]

What the hell are you guys talking about. Going into the bank to do stuff? I've NEVER done that in my life except:

1) To open a new account
2) To get a new CC
3) To deposit a rebate form my parents accidentally thought was theirs so they signed it and I had to go explain to the teller that its for me.

I've deposited at the ATM whether its cash or checks all the time. My friends pay me like $500 in cash so I can put money into poker for them. I do this all the time.. take the cash, put into ATM and then deposit money for them... never a problem!

 

[Suspicious-Teach8788]

Originally posted by: Ranger X
I would highly advise against depositing cash at the ATM. I once deposited $110 for some stupid reason and the bank wrote me a letter saying I only deposited $100. I was lucky that they didn't come back and say I only deposited $10 but the point is, it's not safe. We all use cash and there is no point in depositing cash, unless you just got done selling drugs and you're looking to deposit a large sum of money. In that case, just go into the branch and deposit the money with a live teller.

I don't use cash-- well almost don't. Movies, gas, restaurants, McDonalds, they all accept credit card. Only cheap stores that demand cash only pose a problem. Carrying $40 is more than enough for me for a week. Hell I've had $100 in my wallet for a month now and only used $35.