How to Deposit Money in ATM: Step-by-Step Guide | DBS Bank

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Avoid the long queues at banks. Find out how to deposit money at ATM.

Key Takeaways

• Depositing money through ATMs is the most time-efficient way to add cash to your bank account.
• You can use your ATM cum debit card to deposit money.
• You can also deposit money with your account number if you do not have a debit card.
• Certain ATMs have slots to place the cash, and the machine automatically counts the money.
• You get an SMS confirmation on ATM deposits, and banks credits funds into your account instantly.

Cash deposit ATMs have made adding money to your bank account faster and more convenient. With these machines available around the clock, you no longer need to visit the bank or wait in lines. If you’re wondering how to deposit money through ATM, this article explains the process in a few simple steps.

How Do ATMs Operate?

Automated Teller Machines (ATMs) are electronic devices that allow customers to perform basic banking transactions without visiting a branch. When you want to deposit money at ATM, these machines connect securely to your bank’s network to verify account details and process transactions in real time.

To deposit money through ATM, you insert your debit card and enter your Personal Identification Number (PIN) for authentication. Many ATMs have cash deposit slots or envelopes where you can place notes. The machine counts the cash and updates your Savings Account balance accordingly.

Deposit Money in ATM – The Facility

ATMs that allow you to deposit money are known as Cash Deposit Machines or Automated Deposit-cum-Withdrawal Machines. Depositing money through ATM enables you to save time and conveniently deposit cash in your Bank Accounts. You get instant credit of funds into your bank account and can deposit funds 24x7 at select ATM kiosks offering cash deposit facilities.

There are two ways to deposit money at ATM – with and without the ATM card. Below are the steps for each type of transaction.

How To Deposit Cash In ATM With The ATM Card?

1. Insert your ATM cum Debit Card in the Cash Deposit ATM and enter your PIN.
2. Select from Current or Savings Account, click on the 'deposit money' option, and enter the deposit amount.
3. Place your cash carefully in the cash deposit slot and click to continue.
4. The machine will count the cash automatically and display the amount to be deposited.
5. If the amount is correct, click on 'Continue'.

The machine will deposit the amount and will generate a receipt with the transaction summary.

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How To Deposit Money In ATM without Card?

1. Select the 'Cash Deposit Without Card' option on the ATM Screen and enter your online bank account number.
2. Click 'Enter' if the name of the account holder displayed is correct.
3. Place your cash carefully in the cash deposit slot and click to continue.
4. The machine will count the money automatically and display the deposit amount.
5. If the amount is correct, click on 'Continue'.

The machine will deposit the amount and will generate a receipt with the transaction summary.

Tips for Using an ATM

Using an ATM is convenient, but following some simple guidelines can help keep your transactions safe and hassle-free. Keep these tips in mind:

• When you want to deposit money, ensure the cash is counted and the notes are in good condition to avoid deposit errors.
• Always cover the keypad while entering your PIN to protect your personal information.
• Take your card and transaction receipt immediately after completing your transaction.
• Use ATMs located in safe, well-lit areas to reduce the risk of theft or fraud.
• Avoid sharing your PIN with anyone and change it regularly for added security.
• If you don’t have a bank account yet, consider opening a savings account online for easy access to ATM services.

Advantages of Using an ATM to Deposit Cash

Depositing cash via an ATM offers several benefits over traditional bank visits. For those wondering how to deposit money through ATM, understanding these advantages can make the process easier and more appealing.

• Convenience: ATMs are accessible 24 hours a day, allowing you to deposit money whenever it suits you, without relying on bank working hours.
• Time-saving: Using an ATM means you can avoid long queues, making cash deposits faster and more efficient.
• Wide Accessibility: With ATMs available in many locations, you can find one nearby to deposit cash quickly.
• Instant Account Credit: Many ATMs credit your account immediately after deposit, so your funds are available without delay.
• Promotes Easy Savings: If you plan to open savings account online, regular ATM deposits help you build savings steadily.
• Secure Transactions: ATMs operate on encrypted networks, ensuring your cash deposits and other transactions remain safe.

Disadvantages of Using an ATM to Deposit Cash

While ATMs offer a convenient way to deposit money, there are some limitations to keep in mind.

• Limited Availability: Not all ATMs allow cash deposits, so finding an ATM that supports this feature can sometimes be challenging.
• Transaction Restrictions: Banks may set limits on how much you can deposit money at ATM per transaction or per day.
• Processing Delays: Depending on the time and bank policies, deposits made via ATM might not reflect immediately in your account.
• Technical Issues: ATMs can experience technical problems or outages, which may delay your transaction or cause inconvenience.
• Security Concerns: Using ATMs in unsecured locations increases risks such as card skimming or PIN theft.
• Lack of Immediate Confirmation: Some ATMs might not provide instant confirmation for deposits, which can create uncertainty until the amount is updated in your account.

For those considering opening a new account, you can open bank account online to enjoy convenient ATM services and seamless banking.

Alternatives to Depositing Money at ATM

While depositing money at an ATM is convenient, there are other methods available for adding funds to your bank account. If you’re unsure how to deposit money in ATM, these alternatives can be useful:

• Bank Branch Deposits: Visit a bank branch to deposit money or cheques directly with a teller, ideal if you want immediate confirmation or assistance.
• Mobile Deposit: Some banks offer mobile apps that let you deposit cheques by taking photos, providing a quick and paperless option.
• Cash Deposit Machines (CDMs): Separate from ATMs, CDMs are designed specifically for cash deposits and may offer higher deposit limits and faster processing.
• Online Transfers: Transfer funds electronically from another bank account via NEFT, RTGS, or UPI without handling cash.
• Cheque Deposit: Deposit a cheque via an ATM, branch, or mobile app as another way to add money to your account.

Knowing the savings account interest rates can help you choose the best account and deposit method for your financial needs.

Things To Remember

• While you can withdraw money from ATMs networks of any bank across the country, you may deposit cash only in your designated banks, that too at specific cash-deposit kiosks.
• You should be aware of the cash deposit policies of your bank – the maximum deposits permitted with or without the ATM card.
• You can check for cash deposit ATMs on your bank's website.
• Ensure you deposit cash in ATMs in well-lit areas.

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Final Note

Now that you know how to deposit money in ATM machine , you can conveniently deposit cash at any time. ATM deposits save you from possible threats associated with storing money at home. Remember to check the ATM cash deposit limits of your bank before initiating the transaction.

You can open a DBS Bank savings account online within minutes and benefit from a competitive interest rate of up to 5.5% per annum on your savings. Download the DBS digibank app to begin the process.

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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.