June 7, 2011. Paul Hixon
While internet banking is great there are just some things that you won’t be able to do and for those days there are the good old fashioned deposit bags. You can either go down to the bank and wait in line to make your deposit, or you can make use of the ATM.
The best part about getting used to using the ATM is that you will be comfortable using one if you need to make any deposits after house. If you have been thinking about it then it would be worth your while to get to know the various steps in ATM depositing.
Know the requirements: Each bank has different requirements when it comes to deposits. An important aspect is knowing whether you need to add a deposit slip or not, in which case you will have to fill it in properly based on the requirements.
Dealing with checks: If you want to use a check instead of cash then ensure you have done the necessary. Make sure you sign the back of the check and that all the details are correct. Some ATMs will require that you use special envelopes for checks so ensure you always have some lying around if you usually use checks for deposits.
Dealing with cash: whether you use cash or not should depend on the amount you want to deposit. In the case of an ATM, a bank bag won’t make for a very good holder since you will have to place it in the ATM. In cases like these it is better to use an envelope. Remember that you should only use notes and avoid using coins.
Sealing the envelope: many people with fill in the deposit slip and have all the details correct, but they forget about the envelope. It is a good idea to seal the envelope rather than just closing it. Make sure you have written the amount and the name on the front.
At the ATM: at the ATM the first thing you have to do is insert your card. Enter your PIN and ensure nobody is lurking over your shoulder. Then click on the deposit money option. You will then be prompted to choose whether you want to deposit the cash into your check or savings account.
Insert the envelope: Slide your envelope into the deposit slot and then you can end your session.
Updated June 7, 2011. Published February 10, 2011. Paul Hixon
