How much do you trust depositing a check at an ATM?

[spidey07]

I always deposit checks at an ATM. Just punch in the numbers and feed it the check.

I deposited a 10K personal check today without flinching (quick loan to the GF for car related stuff, so I'm not bragging).

If there is a problem, a stop payment can be ordered.

On another note, what is the legally allowed hold on deposited checks at a certain amount? Credit union that is not this account says "3-5 business day hold on all deposits over 5,000".

 

[Kalvin00]

Well, it's a local hold so up to $9900 could be held for 2 days, and the remaining $5000 could be held for 5 more days.

Of course, any decent bank won't put a hold on it anyways.

Edited for clarity.

 

[miketheidiot]

i have no idea what you are talking about? Since when has this been possible?

 

[kstu]

i do all my banking online or with an ATM. i haven't spoken to a teller in years.

 

[Joemonkey]

Originally posted by: kstu
i do all my banking online or with an ATM. i haven't spoken to a teller in years.

same, just sign it, put it in the envelope, never had an issue in 11+ years

 

[iRONic]

Originally posted by: spidey07
I always deposit checks at an ATM. Just punch in the numbers and feed it the check.

I do it all the time. Never a problem.

 

[LS20]

it had not before occured to me how many people are so paranoid of Automated Teller Machines

i've deposited thousands of dollars in CASH into the ATM without a problem

 

[ponyo]

Never used ATM deposit. I prefer the old fashion teller for my deposit and withdrawal.

 

[Brainonska511]

I prefer to use a teller to deposit money. Withdrawing money at an ATM isn't a problem.

 

[foghorn67]

13+ years of putting checks into ATM, no issues yet.

 

[dpert1]

i do every week

 

[spidey07]

Originally posted by: LS20
it had not before occured to me how many people are so paranoid of Automated Teller Machines

i've deposited thousands of dollars in CASH into the ATM without a problem

Now if that's a night drop or something like that when it's not my money, sure.

But I wouldn't feed my cash into an ATM. So I guess I have a little paranoia.

 

[akshatp]

I dont have any issues depositing a check at an ATM, why would I when it is so easily traceable..

Cash, on the other hand, i always give to a teller in person or drive thru....

 

[spidey07]

Originally posted by: miketheidiot
i have no idea what you are talking about? Since when has this been possible?

Shortly after they invented the little drivethrus where you put your documents into a tube and it's transferred to a teller. Shortly after that there was an automated teller machine.

You just access your account, punch in the deposit and put the check into the machine. You're essentially doing exactly what a teller would do.

 

[effowe]

I always deposit at the ATM, haven't used the teller in years.

 

[AlienCraft]

Wells Fargo machines now don't use an envelope and they scan each item and give instant credit for cash deposited.

 

[Steve]

I've always used ATMs for deposits. A friend advised me that going to the teller would help it clear faster, but he also said I'd have access to some of that check's money right away. So I've gotten thirsty from all these grains of salt.

 

[DrPizza]

Gee, the bank trusts those machines to be pretty secure - after all, the bank is willing to leave thousands of dollars in untraceable cash in them. Why would I worry about a very traceable check?

 

[3NF]

I go inside because I enjoy talking to the tellers and interacting with people.

 

[tfinch2]

I deposited $1500 the other day with no problems.

 

[Fenixgoon]

$0

 

[dawheat]

I've deposited up to 20K in an ATM w/o any issues - the only issue was with the bank holding half of those funds for a week which would have occurred via ATM or teller.

I don't mind depositing a grand or two in cash into the ATM, but more than that I always worry the envelope itself isn't going to stay sealed.

 

[George P Burdell]

For checks under $5000 or so, I use the ATM. Otherwise, I go to the bank (which is a 2 minute walk for me).

 

[moonbit]

We used the ATM for deposits all the time, until they lost one of my husband's paychecks. The bank told us that they don't open the deposit envelopes at the branch, they ship them all to L.A. (we live in Central CA). Just the teller since then. This is doubly important now that we have our mortgage payments tied to paydays.

 

[Reel]

I never trust it. I like getting the teller receipt, checking it, then comparing against the online register when it shows up.

With that said, I do have fairly reasonable confidence that the system would work and your money would appear properly with a check.