Depositing checks at ATMs has become increasingly convenient. However, many people wonder, can you deposit a check at an ATM? Yes, you can, but it’s essential to do it correctly to avoid common mistakes.
This process, while straightforward, can sometimes be tricky. To ensure a smooth transaction, it’s crucial to be aware of the common errors when depositing checks at ATMs.
This article explores what these mistakes are and how you can avoid them.
1. Not Verifying the ATM Accepts Check Deposits
One of the first mistakes people make is not verifying whether the ATM they plan to use accepts check deposits.
While many ATMs offer this service, quite a few still don’t. This can be especially true for ATMs located in remote areas or those that belong to smaller banks.
To avoid this pitfall, it’s advisable to check your bank’s website or mobile app for a list of ATMs that accept check deposits.
Some banks also provide this information right on the ATM screen. Taking a moment to verify this beforehand can save you the frustration of a wasted trip.
2. Incorrectly Filling Out the Check
Incorrectly filling out the check is a common error that can lead to rejected deposits. Before you head to the ATM, ensure the check is properly completed.
This means checking that the date is correct, the amount is written clearly in both numbers and words, and the issuer signs the check. Any discrepancies between these details can cause the ATM to reject your check.
It’s also wise to ensure the check is in good physical condition – not torn, heavily creased, or damaged, as this might affect the ATM’s ability to process it.
3. Forgetting to Endorse the Check
A frequently overlooked step is endorsing the check. This is a crucial part of the check deposit process. The endorsement, which is your signature, must be on the back of the check.
Without this, most ATMs will not accept the deposit. Additionally, some banks require specific wording under your signature, such as “For ATM deposit only,” to add an extra layer of security.
Knowing your bank’s specific endorsement requirements is important to ensure your deposit is accepted.
4. Not Verifying the Amount Entered Matches the Check
When depositing a check at an ATM, verifying that the amount you enter into the ATM matches the amount written on the check is important.
Mistakes in entering the correct amount can delay processing or the return of the check. Take a moment to double-check the amount you enter to ensure it matches the check amount exactly.
5. Disposing of the Check Too Soon After Deposit
A common mistake people make after depositing their check at an ATM is to immediately throw away the check. It’s crucial to keep the check until the deposit has been confirmed and cleared by your bank.
This can take a few days. If there are any issues with the deposit, having the physical check can help resolve them. Once the deposit is confirmed, you can safely dispose of the check.
Conclusion
SoFi states, “Using an ATM to cash a check can be a quick and secure way to get your money.
As long as you have a bank that supports check cashing, have the minimal required funds in your account, and have your debit card and PIN ready, you’ll likely be on your way with some green in your hand.”
Depositing checks at ATMs is a convenient way to manage your banking needs. However, it’s essential to avoid common mistakes such as not verifying the ATM’s capabilities, incorrectly filling out the check, forgetting to endorse the check, not verifying the entered amount, and disposing of the check too soon.
By paying attention to these details, you can ensure your ATM check deposits are successful and hassle-free. Remember, always double-check everything before you complete your transaction to avoid any delays or issues with your deposit.