Most online banks cannot accept cash deposits directly

Online banks have no physical branches, so they cannot take cash over the counter. If your bank is online-only — like Ally, Charles Schwab, or Discover Bank — you will need to move cash through an intermediary before it reaches your account. The most common routes are depositing at a partner bank's ATM, using a third-party service, or transferring money from another account you control.

Some online banks partner with specific brick-and-mortar networks, which means you can walk into certain physical locations and deposit cash. Others require you to convert cash to a check or digital transfer first. The method available to you depends entirely on which bank you use and what partnerships they have set up.

Key Takeaways

  • Online-only banks cannot accept cash at a teller window because they have no branches, so you must use a partner ATM, a check, or a third-party service.
  • Some online banks partner with ATM networks or retail chains where you can deposit cash directly into your account without a card.
  • If your online bank has no cash deposit option, you can deposit cash at your current bank and transfer the money electronically to your online account.
  • Money deposited via ATM or third-party service typically posts within one to three business days, though some services are faster.
  • Check your bank's website or call their customer service line to confirm which deposit methods they support before you try to deposit.

Depositing cash at a partner ATM or retail location

Many online banks have partnered with ATM networks or retail chains to let you deposit cash without visiting a branch. Charles Schwab, for example, partners with MoneyPass and Allpoint ATMs nationwide. Ally Bank works with Depositing cash at a partner location usually means walking up to an ATM or a retail counter, selecting "deposit" on the screen, entering your account number or card, and inserting cash. The ATM reads the bills, confirms the amount, and sends the deposit to your bank.

The catch is that not every ATM in a network accepts cash deposits — some only dispense cash. Before you go, log into your bank's app or website and search their ATM locator tool. Filter for locations that specifically say "cash deposit" or "deposit-enabled." This saves you a trip to an ATM that cannot take your money.

Deposits made at partner ATMs usually post within one to three business days. Some banks credit the money the same day if you deposit before a certain cutoff time, typically 9 p.m. or midnight. Check your bank's deposit policy to see if timing matters for your account.

Converting cash to a check or money order

If your online bank has no ATM partnership, you can convert cash to a check or money order and deposit that instead. Buy a money order at a grocery store, post office, or check-cashing service, made out to yourself. Then deposit the money order into your online account using mobile check deposit — most online banks let you photograph the front and back of a check or money order and submit it through their app.

This method takes longer than an ATM deposit. Money orders cost a small fee (usually $1 to $5), and the deposit itself takes three to five business days to clear because the bank has to process the image and verify the funds. But it works if you have no other option and you are not in a hurry.

Some banks will not accept money orders through mobile deposit, so confirm your bank's policy first. Call their customer service line or check the deposit section of their website to see what documents they accept.

Transferring money from another account you control

If you have a second account at a traditional bank with branches, you can deposit cash there and then transfer the money electronically to your online account. Walk into the branch, hand the teller cash, and ask them to deposit it into your account. Once the cash is in that account, use your online bank's transfer tool to move money from the traditional bank to your online account.

This works best if you already have a relationship with a brick-and-mortar bank. The transfer itself is free and usually posts within one to three business days. The only cost is the time it takes to visit a branch and wait for the transfer to clear.

Some online banks let you link external accounts and initiate transfers directly from their app. Others require you to set up the transfer from the traditional bank's side. Either way, you will need your online bank's routing number and your account number to complete the transfer.

Using a third-party cash deposit service

Services like PayPal, Square Cash, and Venmo let you deposit cash at certain retail locations — usually CVS, Walgreens, or Walmart — and then transfer the money to your bank account. You load cash onto the service at a retail counter, and the service credits your account. From there, you can transfer the balance to your online checking account.

These services charge a fee for the cash deposit, typically 2% to 4% of the amount. So depositing $100 might cost $2 to $4. The money usually posts to your account within one to three business days. This is slower and more expensive than a direct ATM deposit, but it works if you have no other option nearby.

Before you use a third-party service, confirm that your online bank will accept transfers from it. Most banks do, but some have restrictions on which external accounts they link to. A quick call to your bank's customer service line will tell you whether this route is open to you.

What happens if your online bank has no cash deposit option

A small number of online banks do not offer any way to deposit cash directly. In that case, your best option is to deposit cash at another bank you have access to and transfer the money over. If you do not have another account, you can open a second account at a traditional bank just for this purpose — many banks offer free checking with no minimum balance.

Alternatively, you can ask your employer or a trusted person to write you a check for the cash amount, which you can then deposit via mobile check deposit. This is not ideal, but it works in a pinch. Some employers will even do this as a favor if you explain the situation.

Before you switch banks or open a second account, contact your current online bank and ask directly what cash deposit methods they support. Banks update their partnerships regularly, so a method that was not available last year might be available now.

Timing and what to expect after you deposit

Cash deposits at partner ATMs typically post within one business day, though some take up to three. Deposits made through mobile check deposit (money orders or checks) take three to five business days because the bank has to process the image and verify the funds with the issuing bank. Transfers between accounts at different banks take one to three business days.

Until the deposit clears, the money is not available to spend. Your bank will show it as "pending" in your account. Do not assume the money is yours until the status changes to "posted" or "cleared." If you try to spend pending funds and the deposit fails, you could overdraw your account and face overdraft fees.

If a deposit does not post within the expected timeframe, contact your bank's customer service. Bring the receipt from the ATM or the confirmation number from your mobile deposit. The bank can trace the transaction and tell you where it is stuck.

Frequently Asked Questions

Can I deposit cash at any ATM with my online bank card?

No. Only ATMs in your bank's partner network accept deposits from your account. Using an ATM from a different bank may let you withdraw cash, but it will not accept deposits. Use your bank's ATM locator tool to find deposit-enabled machines near you.

What if I deposit cash and the ATM jams or breaks?

If the ATM malfunctions after you insert cash, contact your bank immediately with the ATM location and time of the deposit. The bank can pull the ATM's transaction log and confirm whether the cash was processed. If it was not, the bank will refund you or redeposit the money into your account.

Do I need a debit card to deposit cash at a partner ATM?

Most partner ATMs let you deposit using just your account number or card. Some require a card. Check your bank's website or call customer service to confirm what you need to bring before you go to the ATM.

How long does a mobile check deposit of a money order take?

Money orders deposited via mobile check deposit typically take three to five business days to clear, the same as a paper check. Some banks credit the first $100 or $200 the next business day, but the full amount may take longer.

Can I deposit someone else's cash if they give it to me?

Yes, but you will need to deposit it into an account in your name. You cannot deposit cash directly into someone else's account at an ATM. If you want to send someone money, withdraw the cash and transfer it to them through a peer transfer service, or ask them to deposit it themselves.