The basic steps for depositing money

A deposit puts money into your account. The method depends on what you're depositing — cash, a check, or a transfer from another account — and which bank you use. Most banks offer multiple ways to deposit, so you can choose what fits your situation.

The fastest deposits are usually transfers from another account at the same bank (often instant) or mobile check deposits (usually one business day). Cash deposits at a branch or ATM are immediate but require you to be physically present. Mailed checks take five to ten business days.

Key Takeaways

  • Cash deposits at a branch or ATM show up in your account immediately, but you must visit in person.
  • Mobile check deposits through your bank's app typically clear within one business day and work from home.
  • Transfers between accounts at the same bank are usually instant; transfers between different banks take one to three business days.
  • ATM deposits work outside of branch hours, but some banks limit how much cash you can deposit at once.
  • Mailed checks are the slowest option and should only be used when other methods are not available.

Depositing cash at a branch or ATM

Walk into your bank during business hours with the cash and your debit card or account number. Tell the teller you want to make a deposit, hand over the money, and they will count it, record the amount, and add it to your account immediately. You will receive a receipt showing the deposit amount and your new balance.

ATM deposits work the same way but without a teller. Insert your debit card, select "deposit," choose cash, insert the bills into the slot, and confirm the amount the machine displays. The money appears in your account right away, though some banks hold large cash deposits for review. Check your bank's website or app for ATM locations and any limits on how much you can deposit at once — many ATMs cap deposits at $5,000 or $10,000 per transaction.

Depositing a check through your phone

Open your bank's mobile app and look for "mobile deposit" or "check deposit." Take a photo of the front and back of the check using your phone camera. The app will ask you to confirm the check amount, then submit it. The check clears within one business day in most cases.

After you submit a mobile deposit, write "mobile deposited" on the back of the physical check and keep it for at least 30 days in case the bank needs to verify it. Do not deposit the same check twice — once through mobile and once in person — or your bank may flag it as fraud and freeze your account temporarily.

Transferring money between accounts

If you are moving money from another account at the same bank, log into your online banking or app, select "transfer," choose the account you are transferring from and the account you are transferring to, enter the amount, and confirm. The money usually arrives instantly or within minutes.

Transferring between different banks takes longer. You will need the receiving bank's routing number and your account number at that bank. Most transfers take one to three business days. Some banks charge a fee for outgoing transfers to other institutions, so check your account terms before you transfer.

Depositing checks by mail

Write your account number on the back of the check. Place it in an envelope with a deposit slip (you can print one from your bank's website or request one from a branch). Mail it to the address your bank provides — do not send it to a branch address unless the bank specifically says to.

Mailed checks take five to ten business days to clear, depending on where the check originated and where your bank processes it. Use this method only when you cannot deposit in person or through mobile. Keep a record of what you mailed and when, in case the check gets lost.

What happens after you deposit

Cash and same-bank transfers show up immediately. Mobile check deposits and ATM deposits usually clear within one business day. Checks mailed or deposited in person at a branch may take three to five business days, depending on the check's origin.

During the hold period, the money is in your account but may not be available to withdraw or transfer. Your bank will show you the available balance (what you can use now) and the current balance (what you have including pending deposits). If you withdraw money before a check clears and it bounces, you may face an overdraft fee.

Limits and fees on deposits

Most banks do not charge a fee for deposits. However, some accounts have limits on how many deposits you can make per month — savings accounts sometimes cap deposits at six per month, though this rule has become less common. Check your account agreement or call your bank to confirm.

ATMs may limit the amount you can deposit in one transaction, and some banks hold large deposits (usually over $10,000) for a day or two while they verify the source. This is normal and not a sign of a problem. If your bank regularly holds your deposits, ask whether you can make multiple smaller deposits instead.

Frequently Asked Questions

Can I deposit a check that is made out to someone else?

No. The check must be made out to you or to you and another person. If it is made out to someone else, that person must sign the back and write "pay to the order of [your name]," then you sign below. Some banks refuse third-party checks, so call ahead if you need to deposit one.

What if I deposit a check and it bounces?

If the check bounces after you have already withdrawn the money, your bank will reverse the deposit and charge you a returned-check fee (usually $10 to $30). You are responsible for returning the money to your bank. Contact the person who wrote the check and ask them to provide a new one or pay you in cash.

How do I know if my mobile deposit went through?

Your bank's app will show a confirmation screen immediately after you submit it, and you will see the deposit listed in your transaction history within a few minutes. The money itself clears within one business day. If you do not see the deposit in your history after an hour, contact your bank.

Can I deposit cash at an ATM that is not my bank's?

Some ATMs from other banks accept deposits, but many do not. Even if they do, your bank may charge a fee. Use your own bank's ATM or branch when possible. If you must use another bank's ATM, call your bank first to confirm it accepts deposits and ask about fees.

What is the difference between available balance and current balance?

Current balance is the total money in your account, including deposits that have not cleared yet. Available balance is the money you can actually withdraw or spend right now. If you deposit a check, your current balance increases immediately, but your available balance may not increase until the check clears.