When you deposit cash, is it faster to go through the ATM or the teller? and if you do it with the ATM do you need a depoit slip?
2006-08-04 14:09:50 · 9 answers · asked by Boom!!! Shock A Locka 5 in Business & Finance ➔ Personal Finance
I work at a bank and that varies from place to place. Most banks "banking days" run from 2 until 2. If you put your cash deposit in the ATM it automatically posts in most places. If you go inside to see a teller, in most places they give you immediate credit. My bank that I work at does not because our system isnt online. We are in the dark ages lol. But your best bet is to go inside and have the teller do it. Trust me, the ATM machines make mistakes sometimes.
2006-08-04 14:15:02 · answer #1 · answered by amandaangel1 2 · 8⤊ 2⤋
If you do it through your ATM - you don't need a slip.
As far as speed of cash deposit - I would guess that it gets into the system faster through a teller transaction than an ATM. A deposit through an ATM will not be credited until the institution collects the envelopes from the machine.
2006-08-04 21:18:52 · answer #2 · answered by kpizura 3 · 0⤊ 0⤋
The teller will give you instant access to a cash deposit, where an ATM will probably only give you $100 or so until the actual cash is verified the next business day.
You may or may not need a deposit slip at the ATM. It depends on the bank. You don't for Bank of America but you do for 5/3.
2006-08-04 21:14:45 · answer #3 · answered by Amy H 3 · 0⤊ 0⤋
Usually there is an extended hold placed on money deposited through the ATM. So, that's always something to consider. Check out your bank's availability policy.
As far as speed of the transaction, it depends on if there is a line. If there isnt, then it depends on how fast or slow the teller is. Some are REALLY painfully slow.
If you deposit through the ATM you do NOT need a deposit slip.
2006-08-04 21:13:54 · answer #4 · answered by jenniferaboston 5 · 0⤊ 0⤋
Hey Boom,
It all depends on the check.
Most banks will immediately cash a payroll check. You need a deposit slip.
If you deposit the check through the ATM, $100 is immediately available (this is by law under Regulation E). The info you fill out on the envelope will serve as the deposit slip.
If the check is drawn on a local bank, you can go to the bank and cash it, no deposit slip.
2006-08-04 22:17:13 · answer #5 · answered by Anonymous · 0⤊ 0⤋
it is faster to go through the teller. with most atm deposits you do need a deposit slip but they will tell you on the atm envelope if you need a slip or not. with bank of america you can make atm deposits and if you have enough in your account to cover your deposit they will make your deposit available to you right away. best of luck.
2006-08-04 21:15:14 · answer #6 · answered by so in love 2 · 0⤊ 0⤋
I would never deposit a check or cash at the ATM. I'm paranoid I guess, but I would be afraid something would happen to it and it wouldn't go through. I'd go through the teller....it seems like it would be faster that way anyway.
2006-08-04 21:14:29 · answer #7 · answered by First Lady 7 · 0⤊ 0⤋
teller is faster by far and u should never deposit cash in a atm but if u have to make sure u have a deposit slip or they wont know where 2 put it except their pockets
2006-08-04 21:14:19 · answer #8 · answered by lisathebestone 4 · 0⤊ 0⤋
Usually faster by teller if you do it during business hours (usually by 3 pm on a weekday).
Some banks do want deposit slips in ATM deposits, some don't care. Ask your bank.
2006-08-04 21:14:39 · answer #9 · answered by Atris 2 · 0⤊ 0⤋