The main ways to deposit money into checking

You can put money into your checking account through a bank teller, an ATM, a mobile app, a wire transfer, or by having your employer or another payer deposit directly. The fastest method depends on where you are, what kind of money you're depositing, and whether your bank is open. A cash deposit at a teller or ATM posts the same day. A check deposited through a mobile app takes one to three business days. A wire transfer from another bank takes a few hours to one business day. Direct deposit from an employer or government agency takes one to two business days after the payer sends it.

Each method has different rules about how much you can deposit, what documents you need, and whether the bank puts a hold on the money before you can spend it. Knowing which method works for your situation saves time and prevents delays.

Key Takeaways

  • Cash and check deposits at a teller or ATM post the same day, but ATMs may have daily limits on how much you can deposit.
  • Mobile check deposit takes one to three business days and works from home, but the bank may hold the funds longer if the check is large or from an unfamiliar account.
  • Direct deposit from an employer or government agency is the fastest recurring method and requires you to give the payer your routing number and account number.
  • Wire transfers take a few hours to one business day and cost money, so they are best for large or urgent transfers from another bank.
  • Banks may place holds on deposits, especially checks, which means the money shows in your account but you cannot spend it until the hold lifts.

Depositing cash or checks at a bank teller

Walk into your bank during business hours with your cash or checks and your debit card or account number. A teller will count the cash, stamp the back of any checks, and enter the deposit into the system. Cash deposits post to your account the same day. Checks usually post the same day too, but the bank may place a hold on the funds for one to three business days before you can withdraw them.

You do not need to be a customer of the bank to deposit a check at their teller window if the check is drawn on that bank — for example, you can deposit a check from Bank of America at any Bank of America branch. However, if you want to deposit a check from a different bank, you must be a customer of the bank where you are depositing it. Bring your ID and your debit card or account number.

Teller deposits work well for large amounts of cash or checks because there is no daily limit and the teller can answer questions on the spot. The downside is that you have to go to the bank during their hours, which may not fit your schedule.

Using an ATM to deposit cash or checks

Most ATMs accept cash and check deposits 24 hours a day. Insert your debit card, select "Deposit," and follow the on-screen prompts. For cash, the ATM will count it and show you the amount before you confirm. For checks, you place the check in the slot and the ATM scans it. The deposit posts to your account the same day for cash and usually the same day for checks, though holds may apply.

ATMs have daily deposit limits, which vary by bank. Some banks allow $5,000 to $10,000 per day in ATM deposits, while others allow less. Check your bank's website or call customer service to find out your limit. If you need to deposit more than the limit, use a teller or split the deposit across two days.

ATM deposits are convenient because you can do them anytime, but they carry a small risk: if the ATM malfunctions or loses your check, the bank may take time to investigate. Keep your receipt and check your account online within a few hours to make sure the deposit went through.

Mobile check deposit through your bank's app

Open your bank's mobile app, select "Deposit Check," and take a photo of the front and back of the check. The app will show you the amount and ask you to confirm. Once you submit, the check is deposited and the funds appear in your account within one to three business days. You do not have to go anywhere, and you can deposit at any time of day or night.

Banks may place a hold on mobile check deposits, especially if the check is large, from an unfamiliar account, or from a bank the system does not recognize. A hold can last from one to five business days. During a hold, the money shows in your account balance but you cannot withdraw it. The bank will notify you when the hold lifts.

After you deposit a check through the app, write "Mobile Deposit" on the back of the physical check and keep it for at least 30 days. Do not deposit the same check again at an ATM or teller, because depositing the same check twice is fraud and the bank will reverse both deposits and may close your account.

Direct deposit from an employer or government agency

Direct deposit is the fastest way to receive recurring payments like paychecks or government benefits. Your employer or the government agency sends the money directly to your bank account instead of issuing a check. The money usually arrives one to two business days after the payer sends it, and there is no hold.

To set up direct deposit, you need to give the payer your routing number and account number. Your routing number identifies your bank and your account number identifies your specific account. You can find both on the bottom left of a check, or you can call your bank or log into your online banking to find them. Some employers and agencies provide a form to fill out; others let you enter the information online.

Once direct deposit is set up, the money arrives automatically on the same day each pay period. You do not have to do anything. If you change banks, you need to update your direct deposit information with the payer so the money goes to your new account.

Wire transfers from another bank

A wire transfer sends money from one bank to another electronically. The money usually arrives within a few hours to one business day. Wire transfers are useful when you need to move a large amount of money quickly or when you are sending money to someone at a different bank.

To receive a wire transfer, give the sender your bank's name, your routing number, and your account number. The sender goes to their bank and requests a wire transfer to your account. Their bank charges a fee, usually $15 to $30, and your bank may charge a receiving fee too. The money posts to your account the same day or the next business day, with no hold.

Wire transfers are permanent once sent, so make sure you give the sender the correct routing number and account number. If you provide the wrong number, the money may go to the wrong account and it is very difficult to recover.

Holds on deposits and when the money is available to spend

A hold is a delay the bank places on a deposit before you can withdraw the money. The bank does this to make sure the check clears or the transfer completes. During a hold, the money shows in your account balance, but if you try to withdraw it, the transaction may be declined.

Cash deposits have no hold. Check deposits usually have a hold of one to three business days, though large checks or checks from unfamiliar banks may have longer holds. Mobile check deposits may have a hold of one to five business days. Direct deposits and wire transfers have no hold.

If you need the money before the hold lifts, ask your bank if they offer expedited clearing or if they will waive the hold for certain types of checks. Some banks waive holds for checks under a certain amount or for checks from other banks in the same system.

Frequently Asked Questions

What is the difference between a routing number and an account number?

Your routing number is a nine-digit code that identifies your bank. Your account number is a unique number that identifies your specific account at that bank. Both appear on the bottom of a check. You need both to receive direct deposits or wire transfers.

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

No, a check must be made out to you or to you and someone else. If a check 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 that. This is called a third-party check and many banks no longer accept them, so ask your bank first.

What happens if I deposit the same check twice?

The bank will catch the duplicate and reverse both deposits. You will owe the bank the amount of the check, and the bank may close your account. Always write "Mobile Deposit" on the back of a check after you deposit it through the app and keep the physical check for 30 days to avoid accidentally depositing it twice.

How long does a wire transfer take?

A wire transfer usually arrives within a few hours to one business day. If you send a wire on a Friday after the bank closes, it may not arrive until Monday. Always confirm the routing number and account number before sending a wire, because once the money is sent, it is very difficult to recover if it goes to the wrong account.

Can I deposit cash at a bank where I do not have an account?

No, you must have an account at the bank to deposit cash at a teller or ATM. However, you can deposit a check at any branch of the bank that issued the check, even if you do not have an account there.