How to Deposit a Cheque in the Bank: Quick and Easy Steps

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Easily Deposit Cheques at Bank Branches and ATMs

Key Takeaways

• Cheques are essential for depositing money, withdrawing funds, and making payments
• You must submit a filled deposit slip before dropping cheques at the bank ATM
• Cash Deposit Machines (CDMs) allow cheque deposits, using your debit card
• Drop-box facilities are available at some banks where you can deposit cheques without a debit card
• Ensure that you endorse the back of the cheques before depositing them

Before ATMs and online banking, cheques were how people handled most of their banking whether it was withdrawing cash, depositing money, or making payments. While they’re not as common today, they’re still in use. The good news is that modern banking has made handling cheques faster and more secure than ever.

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How to deposit a cheque in bank

Understanding how to deposit a cheque in the bank is simple, especially when doing it at a branch. The process involves just a few easy steps to ensure your funds are securely added to your account, it’s fast, easy, and doesn't require much more than a signature and a little attention to detail:

1. Visit Your Bank Branch

   Go to your bank and approach a bank representative to obtain a cheque deposit slip. These slips are usually available in the lobby area for easy access.

2. Fill Out the Deposit Slip

   Providing all required information, fill the deposit slip. The details include name as it appears on the cheque, bank account number, the amount mentioned on the cheque (both in words and numbers), the name and branch of the bank where the cheque is drawn, and the cheque number. You'll need to fill this information twice, on separate perforated sections of the slip.

3. Review the deposit slip

   Double-check the details on the deposit slip to ensure accuracy. Errors can prevent funds from being deposited into your account.

4. Deposit the Cheque and Collect the Receipt

   Attach the cheque to the deposit slip and submit them to the bank representative responsible for cheque deposits. Collect the cheque deposit receipt. This receipt is the second perforated section of the deposit slip, stamped by the bank.

This method ensures your cheque deposit in bank is handled securely and accurately, making sure it’s processed correctly for further action and reaching your account without any issues

Also Read:- What is a Bounced Cheque

How to deposit a cheque in ATM

If you're unable to visit your bank branch, you can also deposit cheques at ATMs equipped with cheque depositing capabilities. Here's how you can deposit a check at ATM:

• Visit the Nearest ATM:Locate and visit the nearest Cash Deposit Machine (CDM) of the bank where you intend to deposit your cheque. If you are looking for ATM with cheque deposit facility, simply search for “ATM cheque deposit near me” to find the closest location.
• Insert Your ATM-cum-Debit Card:Insert your ATM-cum-debit card into the machine and enter your card PIN as prompted.
• Insert the Cheque:Follow the on-screen instructions to insert your cheque into the ATM.
• Confirm Cheque Scanning:Ensure that the cheque is scanned correctly, then press the confirm button on the ATM interface.
• Collect Your Deposit Receipt:Once the transaction is complete, collect your cheque deposit receipt from the ATM.

The bank credits the funds into your account within the shortest time possible. ATM cheque deposit is a convenient alternative when you can’t visit the branch in person, offering both speed and security for your cheque deposit.

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How to Fill a Cheque Deposit Slip

A bank deposit slip includes fields to collect essential information such as the account holder’s name, account number, date, and the amount being deposited. Following are the steps you should follow when filling the form:

1. Make sure you provide your name as it appears on your account.
2. Include the account number. Some paper deposit slips are pre-printed with the account number.
3. If you are requesting cash back, you may be required to sign the deposit slip in the appropriate space.
4. Include a subtotal for the cash and cheques, along with any amount you want back.
5. Total the deposit at the bottom.

Things to Keep in Mind for ATM Cheque Deposit

• Cheque Deposit Limits: ATMs may have limits on cheque deposit amounts. Larger cheques may require multiple deposits or a branch visit.
• Processing Time: Deposits typically take 1-2 business days to process. Delays can occur if the cheque is from another bank.
• Ensure Correct Information: Double-check the cheque’s endorsement and follow ATM instructions to avoid errors.
• Keep Records: Save your deposit receipt for proof of transaction in case of issues.

Final Note

Unlike cash withdrawals, which can be made at any bank's ATM, cheque deposits normally require you to use your own bank's ATM or branch facilities. A few ATM kiosks also have a drop box feature for dropping cheques into an envelope akin to a deposit slip. Here, you will not receive a receipt for the deposit of cheques immediately.

If you are a DBS Savings Account holder and wish to gain further insights into depositing cheques at DBS bank branches or ATMs, you may consult your Relationship Manager. For your convenience, they can share further information on the nearest DBS branch and ATM kiosks, where you can deposit your cheques with ease.

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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.