Depositing cash in an ATM

[duragezic]

Ok so I must've got a little excited, or just stupid, but checking account at school will overdraft once some checks are cashed. They will probably show up as soon as Monday, but if I'm lucky my rent check won't go for another day or two after that.

My account is through a local credit union up at school, which is 3 hours away now. I knew I wouldn't be able to get money until I got home, but now I need to get that money back to my credit union. My credit union is small and local, but it must use Wells Fargo "backbone" or something like that since I exclusively use Wells Fargo ATMs since there is no fee from the credit union.

So my mom suggested I send the money to the credit union with a note and my account number. But I don't know the credit union's policies on things like that plus sending cash can be a bad idea.

So are there ATMs that will accept cash and deposit into the account that is accessed by your ATM card? Are they commonplace? I live in a fairly rural area, but I was thinking some of the bigger banks like Wells Fargo might have modern ATMs with such a feature.

 

[Cerpin Taxt]

I have deposited cash into Wells Fargo ATM's on many occasions, but I have an account w/ Wells Fargo. I'm not sure that if I were to deposit cash in a Bank of America ATM, for example, that the deposit would post to my Wells Fargo account. I can't really see any reason why it wouldn't, but I've never really tried it, and I'm not very eager to conduct such an experiment w/ my money.

 

[loup garou]

Yes, you can make deposits at bank ATMs, however, I wouldn't attempt it in your case, because it doesn't sound like you actually have a WF account.

 

[Thegonagle]

Possible? Yes. Smart? Not in my opinion.

Despite people here who say ATM deposits are in "double custody" and other such crap that makes it unlikely to happen, I have had money skimmed out of my cash deposits in the past. I earned tips, so I made a lot of cash deposits--a few times per week, until the second time I got a letter stating that I had "mis-keyed" my entry on the ATM--the exact same ATM both times. The first time, I thought I must have miscounted. From then on, I became obsessive-compulsive, and counted every deposit three or four times, and was absolutely certain that I entered the right amount. I chose to draw my own conclusion.

Now, I ONLY deposit cash with a teller so they can recount it in front of me and I can get a receipt.

 

[duragezic]

Correct, I don't have a WF account. Since its a local credit union, the only place to do business is at the credit union. Still, I can withdraw money from either of my accounts via WF for free from anywhere in the country, you'd think I could just as well deposit??

 

[acemcmac]

I spend cash, not deposit it. I only deposit checks, only at my bank's ATM and if I ever err, they have no problem rounding it up for me.

 

[ActuaryTm]

Originally posted by: duragezic
Since its a local credit union, the only place to do business is at the credit union.

Many local credit unions belong to one or more credit union networks that will allow limited, in-person banking (including deposits) at alternate locations. Most (read: nearly all) do not extend such services to teller machines (save withdrawals, of course), however.

Unfortunately, you'd need to inquire at your local credit union for more information as it varies by institution.

 

[Thegonagle]

Originally posted by: acemcmac
I spend cash, not deposit it. I only deposit checks, only at my bank's ATM and if I ever err, they have no problem rounding it up for me.

People who earn tips for a living really don't have much choice, do they?

Or say you sell a car and the buyer gives you cash. What do you do? Just spend it?

 

[JMoore]

I deposited 3 hundred dollars and the people who "checked" my money said I only put 2 hundreds in. I got screwed, and there was absolutely nothing I could do to contest it. I'd be safe and just go to a teller, unless you are deposting checks.

 

[Thegonagle]

Originally posted by: JMoore
I deposited 3 hundred dollars and the people who "checked" my money said I only put 2 hundreds in. I got screwed, and there was absolutely nothing I could do to contest it. I'd be safe and just go to a teller, unless you are deposting checks.

That sucks.

I wait patiently for the person who always comes along and argues that this is all but impossible because of double custody and the fear of losing their crappy $11/hour jobs because of "audit flags" being raised.

Whatever.

 

[EvilPaper]

Text

If your credit union is on this list, then you can go to any other credit union on the list to do basic transactions on your account. Hope that helps.


Using the ATM is probably a bad idea, even if you can do it. Many institutions have a policy of holding ATM deposits regardless of its contents, because of people who abuse them by utilizing empty envelopes.

 

[YoshiSato]

I've disposited cash via ATM for my Wachovia accounts. I'll due under $100 no problem, more than that it goes to the teller.

 

[SynthDude2001]

I've deposited cash into ATM's before, but due to some of the stories I've heard with people having trouble and losing some of their money, I tend to just go in and do it inside the bank now. Although I don't often end up depositing cash anyway...