How long does it take for the bank to verify cash deposits from an ATM machine?

Question

I'm asking because I was told that after you deposit the money into the ATM, it will say that the money is in your balance, but a teller has to verify it. How often do they do this? And how long does it take to actually be verified?

I was also told two seperate things-that on the deposit envelope you need to fill it out by hand, but someone else told me that the ATM will print the information onto the envelope after you deposit it in.

Sorry if any of this sounds lame. I just opened up a checking account and I'm young. =) Thanks in advance.

Answer 1

"how long does it take to actually be verified?"

A few days, but it depends on the bank's policies.



"I was also told two seperate things-that on the deposit envelope you need to fill it out by hand, but someone else told me that the ATM will print the information onto the envelope after you deposit it in."

Both are correct.

What you write on the envelope is for your record and reference.

What the ATM write on the envelope is for the bank's record and reference.

Should anything go wrong, these two sources of information will be use as comparison, but it's usually the bank's that hold the higher authority.

Answer 2

ATMs are balanced every business day. A cash deposit should post immediately, but a check could take as long as ten business days to clear before posting.

Answer 3

just as soon as some teller opens the back of the atm, takes out your envelope, opens it up, counts the money, goes to the computer, inputs your account number, inputs the amount and then presses enter.

Answer 4

As soon as the teller counts your money and deposits it to your account. That can be the next morning to three days.

Answer 5

I would not deposit cash in to a ATM.