Where can I deposit cash for USAA?

Deposit at an ATM All you need is your USAA ATM/debit card – there’s no deposit slip or envelope required. You can use our ATM Locator to find one that takes your type of deposit. Cash and check deposits are generally available the next business day.

How do I put cash in my USAA account?

Cash deposits can be made at USAA preferred ATM’s that you can find with our USAA locator on usaa.com or the mobile app. You can also purchase a money order with the cash and use the app to deposit the check.

Can you deposit cash at UPS Store for USAA?

“With this new agreement, members can visit any of the pre-identified The UPS Store locations to deposit a check in seconds. USAA Easy Deposit is one of the many ways we make it easy for our members to bank with us.” USAA systems receive the forwarded check information and process the deposit.

What banks let you deposit cash?

These banks and credit unions let you deposit cash at any ATM:

• Capital One: You can deposit money at any ATM that’s part of the AllPoint network, over 39,000 ATMs total.
• Navy Federal Credit Union: NFCU says you can make deposits at 9,000 CO-OP Network ATMs.

Can I use ATM to deposit cash?

You can deposit cash at many ATMs, but not all of them. There’s no hard-and-fast rule regarding ATM cash deposits—it’s at the discretion of the bank or credit union. But many institutions allow cash deposits at a branch or in-network ATMs.

Can I deposit cash in different bank?

In case, you want to know whether you can deposit cash in a different branch of the same bank, then the answer is “Yes”. In case, you want to know whether you can deposit cash in a different bank where you do not have your account, then the answer is “No”.

Can I deposit cash at Post Office for Santander?

All Santander personal customers who have a current account or a savings account (with a cash card) can use Post Office branches for: cash deposit.

Can I deposit cash at the post office for NatWest?

As a NatWest customer you can also pay money into your account at your local Post office: Pay in cash with a pre-printed paying-in slip or chip and PIN debit card. Deposit cheques with a pre-printed paying-in slip.

Is a cash deposit immediately available?

If you make a cash deposit with the teller at your bank, the money will often be available in your account immediately, or the next business day, depending on your bank’s policy. If you deposit cash using your bank’s ATM, you’ll typically be able to access your funds right away.

How do you pay money into a bank?

You can pay cash and cheques into your bank account over the counter at your local branch. Just fill in a paying-in form and give it to the cashier along with the cheque or cash. Some branches have machines you can use for this as well.

Can I deposit cash at a Barclays ATM?

The Barclays cash machines accept both checks and cash for deposit. When depositing via Barclays ATM, you do not need a deposit slip.

How do I deposit cash into Barclays?

You’ll now need either your Barclays debit card or pre-printed paying-in slip to pay cash in at our branches. You’ll now need either your Barclays debit card or pre-printed paying-in slip to pay cash in at our branches.

How much cash can I pay into the bank?

There is no limit on how much anyone, resident in the UK, can have in their bank account in the UK. However, once you get above £85,000 in a bank, you should start moving it into accounts with other banks because of the compensation limit from the FSCS if a bank goes bust.

Can I pay money into a Natwest cash machine?

You can use your bank card or credit slip to pay in up to 50 cheques and 50 notes in cash. To use the Cash & Deposit Machine: Enter your credit slip, or bank card followed by your card PIN. Select ‘Payments and Transfers’ from the screen.

Can I deposit cash at HSBC ATM UK?

* All HSBC Bank customers can make cash deposits 24/7 by entering the ID No, mobile phone number after entering the main menu with cardless transactions with the “Login” button located on ATM.

Can I pay cash into someone else’s account NatWest?

A NatWest spokesman said: ‘Usually they would be required to have a pay in slip to pay money into a third party account in branch and if they didn’t have one, that is probably why they were asked to do it online instead as a transfer can be made without the need for a slip from the customer. ‘

Can I deposit cash into someone else’s bank account UK?

Deposit cash at the bank The most basic way to move money into someone else’s account is to walk into the bank and tell the teller you’d like to deposit cash. You’ll need the recipient’s full name and bank account number to complete the deposit.

Can I deposit money into someone’s Chase account?

Suzanne Ryan, a spokeswoman for Chase, told us what she recommends people do if they want to deposit money for someone else. “They can deposit personal checks, cashier’s checks and money orders.

USAA Money Order Policy

You can deposit a money order as you would a check, according to USAA’s customer service department. That means you can deposit a money order through USAA’s mobile app, at a USAA ATM that accepts deposits, and by mail.

Money Order Deposit Limits

There are no deposit restrictions for money orders but your account’s daily deposit limit applies; limits vary by account. If your money order deposit is greater than your daily deposit limit, USAA may put a freeze on the transaction. You can, however, request a temporary increase to your deposit limit if you would like to make a large deposit. Call USAA at (800) 531-8722 to make such a request. (For more on USAA’s rules for depositing large checks, see our related article.)

Does USAA Sell Money Orders?

USAA does not sell money orders but you can order a teller check online if you need to send certified funds. To order a teller check:

• Select “Get an Official Check” from the “My Tools” menu on the USAA website. Then, select the account from which you’d like to fund the check.
• You will need to state whether the payee is an individual or a business and fill in the memo line, the check amount, mailing address, and delivery method.

Your first teller check of the year is free, but you’ll still need to pay for shipping. Expedited mail is about $8 and express mail is about $14. Additional teller checks cost $10 each.

For more information about buying money orders, see our money order FAQ.

How to Deposit a Money Order Using the USAA Mobile App

To deposit a money order using the USAA mobile app, select “Transfer/Deposit” and then “[email protected]” After you have scanned your endorsed money order using your smartphone’s camera, you’ll need to select the account where you want the funds to go.

It would be a good idea to write: “For mobile deposit at USAA FSB” and your account number in the endorsement area prior to making the deposit.

Depositing a Money Order at a USAA ATM

You can use a USAA ATM to deposit a money order.  ATMs accept up to 10 checks or money orders at a time.

Note: Not all USAA ATMs accept deposits. Use the USAA locator to find an ATM that takes deposits.

How to Deposit a Money Order by Mail

To deposit a money order by mail, you’ll need a deposit slip. According to the USAA website, you can order deposit slips for your various accounts for free online.

Once you’ve received the deposit slips, you can use them to deposit a check by mail by sending the completed deposit slip along with your endorsed check(s) and/or money order(s) to:

9861 Attn: Bank Priority Mail
USAA Federal Savings Bank
10750 McDermott Freeway
San Antonio, TX 78288-0002

If you’re looking for a new bank account, you’re aware that you have a ton of choices in banks, credit unions, and other financial outlets. But are you aware that you also have a choice of online banks?

That’s right — in addition to your traditional brick and mortar banking institutions, there are virtual banks that do just about everything traditional banks can do. These online options offer deposit accounts, investment accounts, and other banking products, and there are often major perks to trading off in-person service for virtual help — and most, if not all, are FDIC-insured. RELATED: FBI warns crooks are targeting banking apps.

So, if you’re on the market for a new account, it may be worth checking out the online options and the brick and mortar banks to see which works best for you. Let’s take a look at how these banks work, what they can offer, and which ones are the best of the bunch.

How online banks work

If you’re unfamiliar with online banking, the premise is simple: Online banks operate like brick and mortar banks, offering checking, savings, and investment accounts, among other banking products, and the only difference is that there is no option for in-person banking.

While you’ve likely opened at least one checking account in person at a bank, filling out paperwork and signing it with a banker, the process for online banking is much different. Everything from account set-up to investments and deposits is done via the internet, an app, or by mailing in documents or paper checks.

RELATED: How to do your online banking safely

To make up for the lack of in-person banking, though, most online banks will offer a ton of perks in return. The interest rates on savings, investment, and money market accounts tend to be higher through online banks, and there are often sign-up bonuses or extra earning opportunities that you may not be offered by traditional banks.

For example, Discover, a credit card giant that you’re probably familiar with, doesn’t just offer credit products. It also offers online deposit banking. The nice part about Discover’s online banking is that it offers cash back on debit card purchases made with your Discover debit card. That’s a rare perk to find in ANY bank.

But it’s hardly just Discover that offers unique online banking perks. There are tons of online banks that offer solid interest rates, top-notch apps, and even sign-up bonuses for banking with them. Let’s take a look at the 5 best online banks and how they may work for you.

You may also like: 5 steps to keep hackers off your home network

The 5 best online banks

1. Ally Bank

This fully-online bank offers solid interest-bearing checking and savings accounts and high rates on CDs, but there are a few downsides, too — including the inability to deposit cash into your Ally account.

Pros of Ally Bank

• No-fee, interest-bearing checking — The interest you earn on money deposited in Ally’s interest-bearing checking has two tiers: You’ll earn a 0.10% APY rate if you have less than a $15,000 minimum daily balance and you’ll earn a 0.50% APY rate if you have a daily balance over $15,000 in your account. Both are stellar rates for APYs on checking.
• No-fee, high-yield savings — The rate on Ally’s high-yield savings account rivals some investment products offered by other banks. It’s currently at 1.25% APY no matter what the balance in your savings account is (rate accurate as of June 11, 2020).
• High-yield CDs — Interest rates on Ally’s high-yield CDs are high compared to competitors and are currently between 0.50% APY and 1.35% APY depending on the CD term (rates accurate as of June 11, 2020).
• Stellar mobile app — Apps and other digital components matter when your bank is fully online, which is why we’re mentioning Ally’s mobile app. This app is easy to navigate, intuitive, and has a ton of tools, including a voice assistant, to help streamline your banking process.

Cons of Ally Bank

• Low money market rate — Ally’s money market interest rate is lower than the rate it offers on online savings, so it wouldn’t make much sense to use Ally for this type of investment.
• No way to deposit cash — There is no way to deposit cash with Ally; your options are limited to eChecks, online transfers, direct deposit, wire transfers and sending checks in the mail.
• No money orders — Since you can’t bank with Ally face-to-face, you can’t get a money order from your bank; you’ll have to do it elsewhere instead.

2. Discover Bank

You may recognize Discover’s name from credit cards, but this credit giant also offers deposit banking that’s fully online, and you’ll get a ton of perks in return.

Pros of Discover Bank

• Cash back rewards on debit purchases — There aren’t many banks that offer cash back on debit purchases, but Discover does; you’ll get 1% cash back on up to $3,000 worth of debit purchases each month.
• No fees, minimums, or direct deposit requirements — Pretty self-explanatory, but you don’t have to worry about excess fees or direct deposit requirements to bank with Discover.
• Limited overdraft fees — With Discover, you’re only on the hook for one insufficient fund’s fee per day and there are no fees for a returned deposit.
• Solid CD interest rates — The interest rates offered by Discover on CDs are really competitive; right now you can earn between 0.35% and 1.25% on the money deposited in a CD depending on the term (rates accurate as of June 11, 2020).

Cons of Discover Bank

• No branch access — There is only one physical branch of Discover Bank, which means that you won’t be able to pop in easily if you need to (but that’s the downside to all online banks).
• Steep minimum on investment products — Discover may offer solid interest rates on CDs, but it requires a $2,500 minimum for money market accounts and CDs, which could price the average person out of this type of investment.
• Low savings account rates — One of the areas that Discover lacks in is the interest rate it pays on savings accounts; there are other online banking options with higher rates.

3. USAA Bank

This military-focused bank operates almost completely online and offers way more than just your traditional deposit banking options. The downside is not everyone is eligible to join. You’ll have to be a military member, veteran, or directly related to a military member or veteran to join.

RELATED: Don’t fall for this money-stealing trick

Pros of USAA Bank

• Competitive rates on lending products — USAA is more than just a deposit banking option; this bank offers the entire gambit of products, including auto, mortgage, and personal loans with stellar rates.
• Credit card options — Unlike most other banks, USAA offers a ton of different credit card options to its members, including cash back and rewards cards, which is unusual for a bank that operates almost completely online.
• Free checking and savings accounts — USAA Bank’s checking and savings account options are free, meaning they don’t come with fees, and there are no balance requirements either.
• Early military payday — As an online bank focused on the military, the majority of its perks are military-focused, including the early military payday, which gives military members access to their money a day early if they receive direct deposit on their payments.

Cons of USAA Bank

• Must be a member to bank with USAA — It can be nearly impossible to become a member of USAA if you aren’t a military member, a veteran, or have a direct connection to a military member or veteran, which vastly limits civilian access to this bank.
• Only one physical branch — The only USAA branch is located in San Antonio, TX, which means you’ll have to either be a local resident or be comfortable banking online to fully take advantage of what USAA offers.
• Savings account interest rates are low — The savings account interest rates are low at USAA compared to competitors, so if you’re looking to optimize the money you earn on your savings, you’d be better off going with a smaller online bank instead.

4. Marcus by Goldman Sachs

This online bank is the deposit banking arm to Goldman Sachs and offers high-interest rates, no minimum deposits, and a ton of other perks, but you’ll have to make sacrifices to get them.

Pros of Marcus by Goldman Sachs

• High interest rates on certain products — Marcus’ high-yield savings account offers a rate that’s four times the national average, which makes this account a solid investment if your focus is on earning interest on your money.
• A variety of investment products — Marcus offers a ton of investment products compared to the average online bank, including several types of CDs.
• No fees — There are virtually no extra fees with any of Marcus’ banking products, including no-penalty high-yield CDs and no-fee personal loans, both of which are unusual for any bank, online or otherwise.

Cons of Marcus by Goldman Sachs

• No checking account option — One of the real downsides to banking with Marcus is that this online bank doesn’t offer checking accounts, which means you’ll have to take your checking account business elsewhere.
• No ATM network — Marcus also doesn’t offer access to an ATM network, which can be really inconvenient, unless you’re prepared to transfer money from Marcus to your checking account and then withdraw it.
• No mobile check deposit — You can’t deposit checks via mobile with Marcus; if you want to make a deposit, you’ll have to be prepared to connect an external account and make a transfer from that account to Marcus.

5. Capital One

You may equate the name Capital One with credit cards (and those “What’s in YOUR wallet?” commercials), but this lending giant also offers some solid deposit banking options that may make the hassle of banking digitally worth the effort.

Pros of Capital One

• Top-notch customer support — One of the things Capital One banking has become known for is its excellent customer service, which is elevated by an intuitive, easy to use app that allows you to bank from the comfort of your home — or wherever you are.
• High interest rates — The interest rates offered by Capital One on its savings accounts are higher than the average bank offers, which means you can maximize the money you have in your savings by earning a higher-than-normal interest rate on it.
• No minimum deposit requirement — Unlike some other banks, Capital One doesn’t have a minimum deposit requirement on its deposit accounts, including CDs, which also offer rates higher than those you’ll find at brick and mortar banks.

Cons of Capital One

• Steep overdraft fees — While you have to opt into Capital One’s overdraft fees, the fees you’re assessed if you overdraw your account are steep; this bank charges $35 up to four times each day for overdrawing your account.
• No ATM withdrawals on savings — You can’t withdraw money from your Capital One savings account without being assessed a fee, even if you’re using a Capital One ATM to do it. You’ll have to transfer money from your savings to your checking and then withdraw your money to avoid fees, which can be a hassle if you aren’t using a checking account from Capital One.
• No money market account options — Unlike some of the other online banks, Capital One doesn’t offer a money market account option, so if you’re trying to invest in an MMA, you’ll need to look elsewhere.

As with traditional brick and mortar banks, online banks can vary wildly from one to the next. You’ll need to figure out which one works best for you based on your banking priorities.

Ultimately, there are plenty of options out there, so pick one that meets your needs. Between the advanced app technology and other perks, you won’t miss much from the face-to-face banking process — if you choose wisely, anyway.

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USAA Money Order Policy

You can deposit a money order as you would a check, according to USAA’s customer service department. That means you can deposit a money order through USAA’s mobile app, at a USAA ATM that accepts deposits, and by mail.

Money Order Deposit Limits

There are no deposit restrictions for money orders but your account’s daily deposit limit applies; limits vary by account. If your money order deposit is greater than your daily deposit limit, USAA may put a freeze on the transaction. You can, however, request a temporary increase to your deposit limit if you would like to make a large deposit. Call USAA at (800) 531-8722 to make such a request. (For more on USAA’s rules for depositing large checks, see our related article.)

Does USAA Sell Money Orders?

USAA does not sell money orders but you can order a teller check online if you need to send certified funds. To order a teller check:

• Select “Get an Official Check” from the “My Tools” menu on the USAA website. Then, select the account from which you’d like to fund the check.
• You will need to state whether the payee is an individual or a business and fill in the memo line, the check amount, mailing address, and delivery method.

Your first teller check of the year is free, but you’ll still need to pay for shipping. Expedited mail is about $8 and express mail is about $14. Additional teller checks cost $10 each.

For more information about buying money orders, see our money order FAQ.

How to Deposit a Money Order Using the USAA Mobile App

To deposit a money order using the USAA mobile app, select “Transfer/Deposit” and then “[email protected]” After you have scanned your endorsed money order using your smartphone’s camera, you’ll need to select the account where you want the funds to go.

It would be a good idea to write: “For mobile deposit at USAA FSB” and your account number in the endorsement area prior to making the deposit.

Depositing a Money Order at a USAA ATM

You can use a USAA ATM to deposit a money order.  ATMs accept up to 10 checks or money orders at a time.

Note: Not all USAA ATMs accept deposits. Use the USAA locator to find an ATM that takes deposits.

How to Deposit a Money Order by Mail

To deposit a money order by mail, you’ll need a deposit slip. According to the USAA website, you can order deposit slips for your various accounts for free online.

Once you’ve received the deposit slips, you can use them to deposit a check by mail by sending the completed deposit slip along with your endorsed check(s) and/or money order(s) to:

9861 Attn: Bank Priority Mail
USAA Federal Savings Bank
10750 McDermott Freeway
San Antonio, TX 78288-0002

If you’re looking for a new bank account, you’re aware that you have a ton of choices in banks, credit unions, and other financial outlets. But are you aware that you also have a choice of online banks?

That’s right — in addition to your traditional brick and mortar banking institutions, there are virtual banks that do just about everything traditional banks can do. These online options offer deposit accounts, investment accounts, and other banking products, and there are often major perks to trading off in-person service for virtual help — and most, if not all, are FDIC-insured. RELATED: FBI warns crooks are targeting banking apps.

So, if you’re on the market for a new account, it may be worth checking out the online options and the brick and mortar banks to see which works best for you. Let’s take a look at how these banks work, what they can offer, and which ones are the best of the bunch.

How online banks work

If you’re unfamiliar with online banking, the premise is simple: Online banks operate like brick and mortar banks, offering checking, savings, and investment accounts, among other banking products, and the only difference is that there is no option for in-person banking.

While you’ve likely opened at least one checking account in person at a bank, filling out paperwork and signing it with a banker, the process for online banking is much different. Everything from account set-up to investments and deposits is done via the internet, an app, or by mailing in documents or paper checks.

RELATED: How to do your online banking safely

To make up for the lack of in-person banking, though, most online banks will offer a ton of perks in return. The interest rates on savings, investment, and money market accounts tend to be higher through online banks, and there are often sign-up bonuses or extra earning opportunities that you may not be offered by traditional banks.

For example, Discover, a credit card giant that you’re probably familiar with, doesn’t just offer credit products. It also offers online deposit banking. The nice part about Discover’s online banking is that it offers cash back on debit card purchases made with your Discover debit card. That’s a rare perk to find in ANY bank.

But it’s hardly just Discover that offers unique online banking perks. There are tons of online banks that offer solid interest rates, top-notch apps, and even sign-up bonuses for banking with them. Let’s take a look at the 5 best online banks and how they may work for you.

You may also like: 5 steps to keep hackers off your home network

The 5 best online banks

1. Ally Bank

This fully-online bank offers solid interest-bearing checking and savings accounts and high rates on CDs, but there are a few downsides, too — including the inability to deposit cash into your Ally account.

Pros of Ally Bank

• No-fee, interest-bearing checking — The interest you earn on money deposited in Ally’s interest-bearing checking has two tiers: You’ll earn a 0.10% APY rate if you have less than a $15,000 minimum daily balance and you’ll earn a 0.50% APY rate if you have a daily balance over $15,000 in your account. Both are stellar rates for APYs on checking.
• No-fee, high-yield savings — The rate on Ally’s high-yield savings account rivals some investment products offered by other banks. It’s currently at 1.25% APY no matter what the balance in your savings account is (rate accurate as of June 11, 2020).
• High-yield CDs — Interest rates on Ally’s high-yield CDs are high compared to competitors and are currently between 0.50% APY and 1.35% APY depending on the CD term (rates accurate as of June 11, 2020).
• Stellar mobile app — Apps and other digital components matter when your bank is fully online, which is why we’re mentioning Ally’s mobile app. This app is easy to navigate, intuitive, and has a ton of tools, including a voice assistant, to help streamline your banking process.

Cons of Ally Bank

• Low money market rate — Ally’s money market interest rate is lower than the rate it offers on online savings, so it wouldn’t make much sense to use Ally for this type of investment.
• No way to deposit cash — There is no way to deposit cash with Ally; your options are limited to eChecks, online transfers, direct deposit, wire transfers and sending checks in the mail.
• No money orders — Since you can’t bank with Ally face-to-face, you can’t get a money order from your bank; you’ll have to do it elsewhere instead.

2. Discover Bank

You may recognize Discover’s name from credit cards, but this credit giant also offers deposit banking that’s fully online, and you’ll get a ton of perks in return.

Pros of Discover Bank

• Cash back rewards on debit purchases — There aren’t many banks that offer cash back on debit purchases, but Discover does; you’ll get 1% cash back on up to $3,000 worth of debit purchases each month.
• No fees, minimums, or direct deposit requirements — Pretty self-explanatory, but you don’t have to worry about excess fees or direct deposit requirements to bank with Discover.
• Limited overdraft fees — With Discover, you’re only on the hook for one insufficient fund’s fee per day and there are no fees for a returned deposit.
• Solid CD interest rates — The interest rates offered by Discover on CDs are really competitive; right now you can earn between 0.35% and 1.25% on the money deposited in a CD depending on the term (rates accurate as of June 11, 2020).

Cons of Discover Bank

• No branch access — There is only one physical branch of Discover Bank, which means that you won’t be able to pop in easily if you need to (but that’s the downside to all online banks).
• Steep minimum on investment products — Discover may offer solid interest rates on CDs, but it requires a $2,500 minimum for money market accounts and CDs, which could price the average person out of this type of investment.
• Low savings account rates — One of the areas that Discover lacks in is the interest rate it pays on savings accounts; there are other online banking options with higher rates.

3. USAA Bank

This military-focused bank operates almost completely online and offers way more than just your traditional deposit banking options. The downside is not everyone is eligible to join. You’ll have to be a military member, veteran, or directly related to a military member or veteran to join.

RELATED: Don’t fall for this money-stealing trick

Pros of USAA Bank

• Competitive rates on lending products — USAA is more than just a deposit banking option; this bank offers the entire gambit of products, including auto, mortgage, and personal loans with stellar rates.
• Credit card options — Unlike most other banks, USAA offers a ton of different credit card options to its members, including cash back and rewards cards, which is unusual for a bank that operates almost completely online.
• Free checking and savings accounts — USAA Bank’s checking and savings account options are free, meaning they don’t come with fees, and there are no balance requirements either.
• Early military payday — As an online bank focused on the military, the majority of its perks are military-focused, including the early military payday, which gives military members access to their money a day early if they receive direct deposit on their payments.

Cons of USAA Bank

• Must be a member to bank with USAA — It can be nearly impossible to become a member of USAA if you aren’t a military member, a veteran, or have a direct connection to a military member or veteran, which vastly limits civilian access to this bank.
• Only one physical branch — The only USAA branch is located in San Antonio, TX, which means you’ll have to either be a local resident or be comfortable banking online to fully take advantage of what USAA offers.
• Savings account interest rates are low — The savings account interest rates are low at USAA compared to competitors, so if you’re looking to optimize the money you earn on your savings, you’d be better off going with a smaller online bank instead.

4. Marcus by Goldman Sachs

This online bank is the deposit banking arm to Goldman Sachs and offers high-interest rates, no minimum deposits, and a ton of other perks, but you’ll have to make sacrifices to get them.

Pros of Marcus by Goldman Sachs

• High interest rates on certain products — Marcus’ high-yield savings account offers a rate that’s four times the national average, which makes this account a solid investment if your focus is on earning interest on your money.
• A variety of investment products — Marcus offers a ton of investment products compared to the average online bank, including several types of CDs.
• No fees — There are virtually no extra fees with any of Marcus’ banking products, including no-penalty high-yield CDs and no-fee personal loans, both of which are unusual for any bank, online or otherwise.

Cons of Marcus by Goldman Sachs

• No checking account option — One of the real downsides to banking with Marcus is that this online bank doesn’t offer checking accounts, which means you’ll have to take your checking account business elsewhere.
• No ATM network — Marcus also doesn’t offer access to an ATM network, which can be really inconvenient, unless you’re prepared to transfer money from Marcus to your checking account and then withdraw it.
• No mobile check deposit — You can’t deposit checks via mobile with Marcus; if you want to make a deposit, you’ll have to be prepared to connect an external account and make a transfer from that account to Marcus.

5. Capital One

You may equate the name Capital One with credit cards (and those “What’s in YOUR wallet?” commercials), but this lending giant also offers some solid deposit banking options that may make the hassle of banking digitally worth the effort.

Pros of Capital One

• Top-notch customer support — One of the things Capital One banking has become known for is its excellent customer service, which is elevated by an intuitive, easy to use app that allows you to bank from the comfort of your home — or wherever you are.
• High interest rates — The interest rates offered by Capital One on its savings accounts are higher than the average bank offers, which means you can maximize the money you have in your savings by earning a higher-than-normal interest rate on it.
• No minimum deposit requirement — Unlike some other banks, Capital One doesn’t have a minimum deposit requirement on its deposit accounts, including CDs, which also offer rates higher than those you’ll find at brick and mortar banks.

Cons of Capital One

• Steep overdraft fees — While you have to opt into Capital One’s overdraft fees, the fees you’re assessed if you overdraw your account are steep; this bank charges $35 up to four times each day for overdrawing your account.
• No ATM withdrawals on savings — You can’t withdraw money from your Capital One savings account without being assessed a fee, even if you’re using a Capital One ATM to do it. You’ll have to transfer money from your savings to your checking and then withdraw your money to avoid fees, which can be a hassle if you aren’t using a checking account from Capital One.
• No money market account options — Unlike some of the other online banks, Capital One doesn’t offer a money market account option, so if you’re trying to invest in an MMA, you’ll need to look elsewhere.

As with traditional brick and mortar banks, online banks can vary wildly from one to the next. You’ll need to figure out which one works best for you based on your banking priorities.

Ultimately, there are plenty of options out there, so pick one that meets your needs. Between the advanced app technology and other perks, you won’t miss much from the face-to-face banking process — if you choose wisely, anyway.

If you need to deposit cash into your bank account, you have several options, including your local bank branch or an ATM that accepts deposits. While it isn’t possible to make deposits directly to most online banks, there are often workarounds, like using a money order or an in-network ATM.

Although many financial transactions are now cash-free and lots of people keep track of their finances digitally, cash is still important for many individuals.

When you need to deposit cash to your checking or savings account, there are a number of safe and convenient options, including local bank branches and certain ATMs. Online banks don’t usually have a straightforward way to deposit cash, but there are a few ways to get cash into your account even without a physical bank branch.

Jump ahead to learn more about how to deposit cash in your specific situation:

• How to Deposit Cash at a Bank
• How to Deposit Cash in an ATM
• How to Deposit Cash With an Online Bank

How to Deposit Cash at a Bank

If you belong to a regional or national bank, you can make a deposit at any branch. If you are part of a credit union, you can make a deposit at your home credit union or another branch if your credit union is part of a larger network.

Making a cash deposit at a local bank branch or credit union takes just a few steps:

• Fill out a deposit slip with your account number.
• Place your cash and deposit slip in an envelope.
• Hand your envelope to one of the tellers.

After making a cash deposit at a physical bank or credit union, the cash will be counted and the funds will become available in your account immediately in most cases.

If you aren’t able to get to your bank’s branch for any reason, you may be able to make a deposit at an ATM instead.

How to Deposit Cash in an ATM

Many banks allow customers to deposit cash directly in an ATM, but the process varies from bank to bank. Nowadays, depositing cash in an ATM is generally as simple as using your debit card at an ATM and placing the cash directly inside. That said, there are a few things to keep in mind when making cash deposits at an ATM.

Some ATMs Require Deposit Slips

Each bank has different ATMs, and some require a deposit slip or envelope for cash deposits. Make sure to read the ATM prompts carefully and use a deposit slip to note your account information and deposit amount if necessary.

Make Sure to Count Your Cash

If your bank allows for cash to be deposited directly into an ATM with no envelope, make sure to count your cash before placing it in the machine. While ATMs are generally accurate, they can occasionally make mistakes in counting and scanning bills. If you know the correct amount ahead of time, you can verify that the ATM has counted correctly after making your deposit.

If there are any issues, make sure to note the ATM’s location and the time that the mistake occurred to help resolve the problem.

Funds Aren’t Available Immediately

Unlike deposits made with tellers, the funds from cash deposits at ATMs are not always available immediately. Funds can take more than one business day to show up in your account, so be mindful of this if you need the money in your account right away. In general, ATMs directly outside of bank branches will process funds to your account more quickly.

Even if you have an online bank with no physical locations, there are still options for depositing cash.

How to Deposit Cash With an Online Bank

If you have an online bank with no physical locations, there are still options for getting cash into your account, but the process will vary based on your bank and specific circumstances.

Try some of the following methods as alternative ways to get cash into your online bank account.

Transfer from Another Bank Account

If you have another bank account with physical branches, you could deposit the money in person, then make a transfer to your online bank account.

Use a Prepaid Debit Card

Some prepaid debit cards can be loaded with cash at retail stores. After loading cash, you can use the debit card’s online portal to transfer money electronically to your online bank account. That said, some prepaid debit cards involve fees, so you’ll want to be mindful if making small deposits.

Purchase a Money Order

You can purchase a money order at the post office as well as other locations, which allows you to send your cash deposit electronically to your account. Money orders may require a flat or percentage fee, so check in advance whether this is the right approach for you.

Find an In-Network ATM

Many online banks include a network of ATMs, which you can use to make a cash deposit directly to your account. Look into whether this is a possibility for your particular bank.

No matter how you deposit cash, make sure that you account for the funds when managing your budget.

Related

Where can I deposit cash for USAA?

Deposit at an ATM All you need is your USAA ATM/debit card – there’s no deposit slip or envelope required. You can use our ATM Locator to find one that takes your type of deposit. Cash and check deposits are generally available the next business day.

How do I put cash in my USAA account?

Cash deposits can be made at USAA preferred ATM’s that you can find with our USAA locator on usaa.com or the mobile app. You can also purchase a money order with the cash and use the app to deposit the check.

Can you deposit cash at UPS Store for USAA?

“With this new agreement, members can visit any of the pre-identified The UPS Store locations to deposit a check in seconds. USAA Easy Deposit is one of the many ways we make it easy for our members to bank with us.” USAA systems receive the forwarded check information and process the deposit.

What banks let you deposit cash?

These banks and credit unions let you deposit cash at any ATM:

• Capital One: You can deposit money at any ATM that’s part of the AllPoint network, over 39,000 ATMs total.
• Navy Federal Credit Union: NFCU says you can make deposits at 9,000 CO-OP Network ATMs.

Can I use ATM to deposit cash?

You can deposit cash at many ATMs, but not all of them. There’s no hard-and-fast rule regarding ATM cash deposits—it’s at the discretion of the bank or credit union. But many institutions allow cash deposits at a branch or in-network ATMs.

Can I deposit cash in different bank?

In case, you want to know whether you can deposit cash in a different branch of the same bank, then the answer is “Yes”. In case, you want to know whether you can deposit cash in a different bank where you do not have your account, then the answer is “No”.

Can I deposit cash at Post Office for Santander?

All Santander personal customers who have a current account or a savings account (with a cash card) can use Post Office branches for: cash deposit.

Can I deposit cash at the post office for NatWest?

As a NatWest customer you can also pay money into your account at your local Post office: Pay in cash with a pre-printed paying-in slip or chip and PIN debit card. Deposit cheques with a pre-printed paying-in slip.

Is a cash deposit immediately available?

If you make a cash deposit with the teller at your bank, the money will often be available in your account immediately, or the next business day, depending on your bank’s policy. If you deposit cash using your bank’s ATM, you’ll typically be able to access your funds right away.

How do you pay money into a bank?

You can pay cash and cheques into your bank account over the counter at your local branch. Just fill in a paying-in form and give it to the cashier along with the cheque or cash. Some branches have machines you can use for this as well.

Can I deposit cash at a Barclays ATM?

The Barclays cash machines accept both checks and cash for deposit. When depositing via Barclays ATM, you do not need a deposit slip.

How do I deposit cash into Barclays?

You’ll now need either your Barclays debit card or pre-printed paying-in slip to pay cash in at our branches. You’ll now need either your Barclays debit card or pre-printed paying-in slip to pay cash in at our branches.

How much cash can I pay into the bank?

There is no limit on how much anyone, resident in the UK, can have in their bank account in the UK. However, once you get above £85,000 in a bank, you should start moving it into accounts with other banks because of the compensation limit from the FSCS if a bank goes bust.

Can I pay money into a Natwest cash machine?

You can use your bank card or credit slip to pay in up to 50 cheques and 50 notes in cash. To use the Cash & Deposit Machine: Enter your credit slip, or bank card followed by your card PIN. Select ‘Payments and Transfers’ from the screen.

Can I deposit cash at HSBC ATM UK?

* All HSBC Bank customers can make cash deposits 24/7 by entering the ID No, mobile phone number after entering the main menu with cardless transactions with the “Login” button located on ATM.

Can I pay cash into someone else’s account NatWest?

A NatWest spokesman said: ‘Usually they would be required to have a pay in slip to pay money into a third party account in branch and if they didn’t have one, that is probably why they were asked to do it online instead as a transfer can be made without the need for a slip from the customer. ‘

Can I deposit cash into someone else’s bank account UK?

Deposit cash at the bank The most basic way to move money into someone else’s account is to walk into the bank and tell the teller you’d like to deposit cash. You’ll need the recipient’s full name and bank account number to complete the deposit.

Can I deposit money into someone’s Chase account?

Suzanne Ryan, a spokeswoman for Chase, told us what she recommends people do if they want to deposit money for someone else. “They can deposit personal checks, cashier’s checks and money orders.

How to deposit cash to an online bank

Most online banks allow you to deposit checks via mobile deposit or by mail. You can also transfer money to and from other financial institutions. But figuring out how to deposit cash is trickier. It's a bad idea to put money in the mail, and internet banks typically don't accept mailed deposits. You also can't go to a local branch to hand your money to a teller.

The good news is you don't have to give up on having an online bank -- or resign to never deposit cash. You have a few options, depending on your online financial institution. Here's a look at what they are.

Use a linked ATM

Some online banks participate in ATM networks. If your online bank is one of them, you can deposit cash at the closest ATM.

Once you've found an ATM, take your cash to the ATM, fill out a deposit slip with your account information, and put the money into the deposit envelope. Then use your ATM card to make your deposit.

You'll receive a receipt when you deposit cash into an ATM. Keep the receipt until your money shows up in your account. This could take around 48 hours depending on your bank's policies.

Use a prepaid debit card

If your bank isn't part of an ATM network, you could consider getting a prepaid debit card linked to your online bank account.

Prepaid debit cards allow you to load money onto them in different ways, including visiting participating retailers to deposit cash. Once the money is on your debit card, you could transfer the money from the prepaid debit card to your linked online bank account.

The downside of prepaid debit cards is that many charge you fees to:

• Obtain a card
• Deposit cash
• Withdraw funds

But if you shop around for a good card, you may be able to avoid paying fees. Some prepaid cards, for example, allow you to deposit cash for free at certain retailers, including Walmart. You can then use those cards to transfer money to a linked bank account -- although the process can take several days.

Make a local deposit and transfer money

If you still have a local bank account, you can make a deposit at your branch and transfer the money over. Unfortunately, some banks charge you a fee to move money from one financial institution to another. Make sure your bank doesn't before you do this.

This method could defeat the purpose of opening an online bank account since you'd still be stuck with a local bank and all its associated fees.

If you have a family member or close friend with a local bank account, you could enlist their help in making a local deposit. You could give them cash to deposit into their account and ask them to send the money to you using a service like Zelle or Venmo. These money transfer services are free and can be linked to your online bank.

Buy a money order

If you can't use an ATM, don't want a prepaid debit card, and can't get a friend or a family member to help you out, you could buy a money order.

Money orders can be purchased from the post office or retail stores. There's a small fee for buying a money order. The fee depends on the amount of the money order. Once you've purchased the money order, you can mail it to the address that your online bank provides for deposits.

This method costs a little bit of money and it can take time since you have to wait for the mailed money order to arrive at your bank and for the deposit to be processed. Still, if you have only a very occasional cash deposit to make, this could be a good approach.

How to deposit cash to a brick-and-mortar bank

Depositing cash is easier with traditional banks. You have access to more convenient methods than most online banks like:

• In person at a local bank branch
• Your bank's ATM network

Keep in mind that ATM deposits could be subject to holds. Your funds likely won't hit your account immediately. Your best bet for quick access to your money is in person at a bank branch. The downside with in-person banking is that you're limited to specific business hours.

A lot of traditional banks have adopted modern banking practices. If your bank has a mobile app, you may have access to mobile check deposits too.

Choose the right approach when you deposit cash into your bank account

As you can see, depositing cash into an online bank is more trouble than when you have a local bank. But since online banks have many other advantages, it may be worth dealing with a few extra steps. Especially if you don't deposit cash on a regular basis. Online banks and brick-and-mortar banks both offer various ways to deposit cash when you need it. The right option depends on your preference.

When choosing a checking account, the factors that matter most can vary from person to person. You may want to consider any fees that may be associated with having a low balance, whether or not the institution has locations close to you and how user-friendly the institution’s mobile app is. You might also want to look at checking accounts that pay interest, which, although rare, do exist.

GOBankingRates’ Top Picks: Best Online Banks of 2022
And More: Best National Banks of 2022

GOBankingRates took all of these factors into consideration when selecting the Best Checking Accounts of 2022.

Best Checking Accounts of 2022

This year’s Best Checking Account winners offer low fees and convenience.

Wells Fargo Bank’s Wells Fargo Everyday Checking: Best Checking Account

Why it stands out: The Wells Fargo Everyday Checking account comes with online banking and a contactless debit card. It also offers over 5,000 branch locations, making it a great option for someone who wants to bank in person.

Pros:

• Online banking

• Over 5,000 branch locations

• Multiple ways to waive the monthly service fee

Cons:

• Monthly service fee

• Higher minimum balance requirement

What to look for: The Wells Fargo checking account does have a monthly fee of $10, but there are multiple ways to waive it. This account offers solid online banking and access to over 5,000 branches, which is more than many others on this list. There is a minimum balance requirement of $500 and a minimum deposit of $25. The overdraft/NSF fee here is $35.

Read our full review on this checking account.

JPMorgan Chase Bank: Chase Total Checking

Why it stands out: The Chase Total Checking account comes with no minimum deposit and access to almost 5,000 branch locations, making it a strong option depending on your banking needs.

Pros:

• No minimum deposit

• Wide access to branch locations and ATMs

• Online banking, bill pay and mobile banking services

Cons:

• Monthly fee

• Higher minimum balance

What to look for: This checking account has no minimum deposit requirement. It does have a monthly fee of $12 and a minimum balance of $1,500, which is on the higher end. However, you will have access to thousands of branch locations and ATMs. You’ll also have online banking and more mobile financial services. The overdraft/NSF fee here is $34.

Read our full review on this checking account.

Bank of America: Bank of America Advantage Plus Banking

Why it stands out: The Bank of America Advantage Plus Banking comes with 24/7 security and convenient options for payments that keep it competitive as far as basic banking needs.

Pros:

• Over 4,000 branch locations

• Online banking

• Zelle

Cons:

• Higher minimum deposit requirement

• Higher minimum balance requirement

What to look for: Bank of America’s checking account gives you access to over 4,000 branch locations, as well as online banking and various options for making payments. This account does have a higher minimum deposit ($100) and a higher required minimum balance ($1,500). It does have a monthly fee of $12 as well. The overdraft/NSF fee is $35.

Read our full review on this checking account.

Ally Bank: Interest Checking Account

Why it stands out: Ally Bank’s Interest Checking Account offers a higher-than-average annual percentage yield.

Pros:

• Higher-than-average annual percentage yield

• No monthly fee

• No minimum deposit or balance requirement

Cons:

What to look for: Ally Bank is an online-only bank, so you won’t have branches to access here. However, the advantage of this checking account is the lack of fees and APY. You will not have a monthly fee, minimum deposit or required minimum balance here. There also isn’t an overdraft/NSF fee. Along with all that, the APY on the checking account ranges from 0.10% to 0.25% depending on your daily balance.

Read our full review on this checking account.

Discover Bank: Cashback Debit Online Checking

Why it stands out: The Cashback Debit Online Checking account allows you to earn cash back for your debit card spending, which is a unique perk that not many accounts offer.

Pros:

• Earn cash back with your debit card spending

• No account fees

• Access to over 60,000 no-fee ATMs

Cons:

What to look for: Discover is also an online-only bank. It’s competitive in that it has no monthly fee for its checking account, along with no minimum deposit or minimum balance requirement. It also doesn’t have an overdraft/NSF fee. With Discover’s checking account, you can earn cash back with your debit card. You’ll also have access to over 60,000 fee-free ATMs.

Read our full review on this checking account.

Axos Bank: Essential Checking

Why it stands out: The Essential Checking account comes with no fees and Direct Deposit Express to help you get paid faster. All these benefits can help you to keep more of your money.

Pros:

• Direct Deposit Express

• No monthly fee

• No minimum balance requirements

• Unlimited domestic ATM fee reimbursements

Cons:

What to look for: Axos Bank’s checking account comes with no fees, much like many of the other online-only banks on this list. However, you won’t have access to in-person banking with this account. The Essential Checking account does have other benefits like Direct Deposit Express which helps you to get paid faster. It also comes with unlimited domestic ATM fee reimbursements so you don’t have to worry about getting cash on the go.

Read our full review on this checking account.

TIAA, FSB: Yield Pledge Checking

Why it stands out: The Yield Pledge Checking account offers a stronger APY at 0.10%, which is uncommon for checking accounts and worth taking advantage of.

Pros:

Cons:

• Higher minimum deposit requirement

• Online only

What to look for: TIAA’s checking account comes with an APY, which is uncommon for checking accounts: It’s 0.10% APY. There’s also no monthly fee or minimum balance requirement. However, there is a required minimum deposit of $100, which is higher than some of the other checking accounts, especially the other online-only banks. The overdraft/NSF fee here is $30.

Read our full review on this checking account.

KeyBank: Key Smart Checking

Why it stands out: The Key Smart Checking account comes with the competitive offer of no monthly fee and secure online and mobile banking.

Pros:

• No monthly fee

• No minimum balance requirement

• Over 1,000 bank branches

Cons:

• Opening deposit requirement

What to look for: KeyBank’s checking account has no monthly fee and no minimum balance requirement. It does require a minimum deposit of $10. While you’ll have access to secure online and mobile banking here, you’ll also have access to over 1,000 bank branches. The overdraft/NSF fee here is $33.

Read our full review on this checking account.

Arvest Bank: Free Blue Checking Account

Why it stands out: The Free Blue Checking Account comes with no monthly fee, a free debit card and online and mobile banking.

Pros:

• No monthly fee

• No minimum balance requirement

• $400 overdraft coverage (subject to approval)

Cons:

• Minimum deposit requirement

What to look for: Arvest Bank’s checking account has no monthly fee or minimum balance requirement. For this checking account, there is a minimum deposit requirement of $50. The overdraft/NSF fee is smaller here at $17. This account also offers the potential for $400 overdraft coverage, but that is subject to approval.

Read our full review on this checking account.

Fifth Third Bank: Fifth Third Momentum Checking

Why it stands out: The Fifth Third Momentum Checking account doesn’t have a monthly service fee or minimum balance requirement, which make it a good option for your basic banking.

Pros:

• Ability to get your paycheck sooner with direct deposit

• No minimum balance requirement

• No monthly service fee

Cons:

• Debit card fees may apply

What to look for: Fifth Third Bank’s checking account is competitive with many of the other accounts as it has no monthly fee, no minimum deposit or minimum balance requirement. Its overdraft/NSF fee is $37. However, this checking account does have the option to get you your paycheck sooner with direct deposit. And you’ll have access to over 50,000 fee-free ATMs.

Read our full review on this checking account.

Capital One: 360 Checking Account

Why it stands out: The 360 Checking account comes with no minimums and no fees — keeping it in line with some of these more competitive checking accounts.

Pros:

• No minimum balance requirement

• No monthly fee

• Over 70,000 fee-free ATMs

• Overdraft options

Cons:

• Fewer branches than other banks

What to look for: Capital One’s 360 Checking Account ranks among the best of them when it comes to fees and minimum requirements. It has no monthly fee, no overdraft/NSF fee, no minimum deposit requirement and no minimum balance requirement. And while there are over 70,000 fee-free ATMs available with this checking account, there are fewer branch locations available if you want in-person banking.

Read our full review on this checking account.

PNC Bank: Virtual Wallet

Why it stands out: PNC Bank’s Virtual Wallet can help you to track your spending and budget your finances if you’re looking for an account that will help you to manage your money.

Pros:

• Ability to waive the monthly service charge

• Ability to monitor activity and receive notifications

Cons:

• Monthly fee

• Higher minimum balance requirement

What to look for: PNC Bank’s checking account does come with a monthly fee of $7, but there is the ability to waive that fee. It also has a required minimum deposit of $25 and a minimum balance of $500, which is higher than some of the others. You do have the easy ability to monitor your activity and receive various notifications through this account. The overdraft/NSF fee is $36.

Read our full review on this checking account.

E-Trade: E-Trade Checking

Why it stands out: The E-Trade Checking account offers no fees and no minimum balances.

Pros:

• No miminum balances

• No fees

• Easy access to your money through ATMs

Cons:

What to look for: This online-only checking account is competitive with the other accounts when it comes to fees and minimum requirements. It doesn’t have a monthly fee or requirements for deposit or balance. However, unlike some of the others, it does have an overdraft/NSF fee of $25.

Read our full review on this checking account.

Huntington National Bank: Asterisk-Free Checking

Why it stands out: The Asterisk-Free Checking Account stays competitive because it is free to open and free to maintain.

Pros:

• No monthly fee

• No minimum balance requirement

• Extra money when you need it thanks to Standby Cash

Cons:

• Not as many ATMs as some of the others

What to look for: This checking account doesn’t have a monthly fee. It also doesn’t have a minimum deposit or minimum balance requirement. The overdraft/NSF fee here is $36. While there are not as many ATMs to access for this checking account, you do have the benefit of Standby Cash, which might be able to help you to access extra money when you’re in need.

Read our full review on this checking account.

Charles Schwab: High Yield Investor Checking Account

Why it stands out: The High Yield Investor Checking Account offers a higher annual percentage yield than most accounts on the list.

Pros:

• Higher annual percentage yield

• No monthly fees

• No minimums

• Unlimited ATM fee rebates worldwide

Cons:

What to look for: Charles Schwabs’ checking account is online-only, but it does offer unlimited ATM fee rebates around the world. There is also no monthly fee here, although the overdraft/NSF fee is $25. There are also no minimum requirements here for deposits or balances. On top of that, the APY is higher than many other accounts on this list at 0.03%.

Read our full review on this checking account.

USAA Federal Savings Bank: USAA Classic Checking

Why it stands out: The USAA Classic Checking account has no monthly service fee and early direct deposit.

Pros:

• No monthly service fee

• Early direct deposit

• Over 60,000 preferred ATMs

Cons:

• Online-only bank

• Minimum opening deposit requirement

What to look for: USAA Federal Savings Bank’s checking account is online-only, but customers will have access to over 60,000 preferred ATMs. You also won’t have a monthly fee with this checking account, as well as no minimum balance requirement. This account does require a $25 minimum deposit and has an overdraft/NSF fee of $29.

Read our full review on this checking account.

Current: Basic Account

Why it stands out: Current’s Basic account comes with no monthly fee if you’re looking for an account to accommodate your basic banking needs.

Pros:

• No monthly fee

• No hidden fees

• Spending insights

Cons:

What to look for: Current’s checking account is competitive with many other online-only banks on this list. There are no hidden fees, as well as no monthly fee and no overdraft/NSF fee. There are also no requirements for minimum deposit or minimum balance. By using this checking account, you’ll also have access to spending insights to see where your money is going.

Read our full review on this checking account.

BMO Harris Bank: BMO Harris Smart Advantage Account

Why it stands out: The BMO Harris Smart Advantage Account has no monthly maintenance fee and offers online chat, phone and in-branch support.

Pros:

• No monthly maintenance fee

• No minimum balance requirement

• Ability to get cash from an ATM with just your smartphone

Cons:

• Minimum opening deposit requirement

What to look for: BMO Harris’ checking account has a number of benefits, including no monthly fee or minimum balance requirement. It also offers the ability to get cash from an ATM with just your smartphone in case you don’t carry a card on you. There is a minimum deposit requirement of $25 and an overdraft/NSF fee of $36.

Read our full review on this checking account.

iGObanking.com: iGOchecking High Interest Checking Account

Why it stands out: The iGOchecking High Interest Checking Account offers a strong APY, which many of the accounts on this list can’t compete with.

Pros:

Cons:

What to look for: iGOBankings.com’s checking account has a competitive APY as far as checking accounts go: It’s 0.15%. And so that you keep more of your money, this account has no monthly fee. There also isn’t a minimum balance requirement, although there is a minimum deposit requirement of $1. The overdraft/NSF fee for this account is $30.

Read our full review on this checking account.

LendingClub Bank: Rewards Checking

Why it stands out: The Rewards Checking account offers a higher APY with no monthly fee, so you can keep and make more money here.

Pros:

• Higher APY

• No monthly fee

• Earn 1.00% cash back with transactions made on debit card

Cons:

• Online only

• Higher minimum deposit

What to look for: This checking account can earn you 1.00% cash back on transactions you make with your debit card. You can also earn an APY between 0.10% and 0.15% depending on your balance. There’s also no monthly fee here, but there is a minimum deposit requirement of $100. The overdraft/NSF fee is $25.

Read our full review on this checking account.

More From GOBankingRates

Methodology: To determine rankings GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) monthly fees associated with the account; (5) minimum balance needed to avoid the fee; (6) APY on the checking account; (6) overdraft fee amount; (7) the average mobile app rating between the Android and Apple stores. All factors were then scored and combined, with the lowest score being best. Factors (1), (4), and (5) were weighted 1.5 times, factor (2) was weighted 2 times, and factor (6) was weighted 0.5 times. All data is up to date as of Nov. 8, 2021. Rates and fees are subject to change.

This article originally appeared on GOBankingRates.com: The 20 Best Checking Accounts of 2022

When choosing a checking account, the factors that matter most can vary from person to person. You may want to consider any fees that may be associated with having a low balance, whether or not the institution has locations close to you and how user-friendly the institution’s mobile app is. You might also want to look at checking accounts that pay interest, which, although rare, do exist.

GOBankingRates’ Top Picks: Best Online Banks of 2022
And More: Best National Banks of 2022

GOBankingRates took all of these factors into consideration when selecting the Best Checking Accounts of 2022.

Best Checking Accounts of 2022

This year’s Best Checking Account winners offer low fees and convenience.

Wells Fargo Bank’s Wells Fargo Everyday Checking: Best Checking Account

Why it stands out: The Wells Fargo Everyday Checking account comes with online banking and a contactless debit card. It also offers over 5,000 branch locations, making it a great option for someone who wants to bank in person.

Pros:

• Online banking

• Over 5,000 branch locations

• Multiple ways to waive the monthly service fee

Cons:

• Monthly service fee

• Higher minimum balance requirement

What to look for: The Wells Fargo checking account does have a monthly fee of $10, but there are multiple ways to waive it. This account offers solid online banking and access to over 5,000 branches, which is more than many others on this list. There is a minimum balance requirement of $500 and a minimum deposit of $25. The overdraft/NSF fee here is $35.

Read our full review on this checking account.

JPMorgan Chase Bank: Chase Total Checking

Why it stands out: The Chase Total Checking account comes with no minimum deposit and access to almost 5,000 branch locations, making it a strong option depending on your banking needs.

Pros:

• No minimum deposit

• Wide access to branch locations and ATMs

• Online banking, bill pay and mobile banking services

Cons:

• Monthly fee

• Higher minimum balance

What to look for: This checking account has no minimum deposit requirement. It does have a monthly fee of $12 and a minimum balance of $1,500, which is on the higher end. However, you will have access to thousands of branch locations and ATMs. You’ll also have online banking and more mobile financial services. The overdraft/NSF fee here is $34.

Read our full review on this checking account.

Bank of America: Bank of America Advantage Plus Banking

Why it stands out: The Bank of America Advantage Plus Banking comes with 24/7 security and convenient options for payments that keep it competitive as far as basic banking needs.

Pros:

• Over 4,000 branch locations

• Online banking

• Zelle

Cons:

• Higher minimum deposit requirement

• Higher minimum balance requirement

What to look for: Bank of America’s checking account gives you access to over 4,000 branch locations, as well as online banking and various options for making payments. This account does have a higher minimum deposit ($100) and a higher required minimum balance ($1,500). It does have a monthly fee of $12 as well. The overdraft/NSF fee is $35.

Read our full review on this checking account.

Ally Bank: Interest Checking Account

Why it stands out: Ally Bank’s Interest Checking Account offers a higher-than-average annual percentage yield.

Pros:

• Higher-than-average annual percentage yield

• No monthly fee

• No minimum deposit or balance requirement

Cons:

What to look for: Ally Bank is an online-only bank, so you won’t have branches to access here. However, the advantage of this checking account is the lack of fees and APY. You will not have a monthly fee, minimum deposit or required minimum balance here. There also isn’t an overdraft/NSF fee. Along with all that, the APY on the checking account ranges from 0.10% to 0.25% depending on your daily balance.

Read our full review on this checking account.

Discover Bank: Cashback Debit Online Checking

Why it stands out: The Cashback Debit Online Checking account allows you to earn cash back for your debit card spending, which is a unique perk that not many accounts offer.

Pros:

• Earn cash back with your how to deposit cash usaa bank card spending

• No account fees

• Access to over 60,000 no-fee ATMs

Cons:

What to look for: Discover is also an online-only bank. It’s competitive in that it has no monthly fee for its checking account, along with no minimum deposit or minimum balance requirement. It also doesn’t have an overdraft/NSF fee. With Discover’s checking account, you can earn cash back with your debit card. You’ll also have access to over 60,000 fee-free ATMs.

Read our full review on this checking account.

Axos Bank: Essential Checking

Why it stands out: The Essential Checking account comes with no fees and Direct Deposit Express to help you get paid faster. All these benefits can help you to keep more of your money.

Pros:

• Direct Deposit Express

• No monthly fee

• No minimum balance requirements

• Unlimited domestic ATM fee reimbursements

Cons:

What to look for: Axos Bank’s checking account comes with no fees, much like many of the other online-only banks on this list. However, you won’t have access to in-person banking with this account. The Essential Checking account does have other benefits like Direct Deposit Express which helps you to get paid faster. It also comes with unlimited domestic ATM fee reimbursements so you don’t have to worry about getting cash on the go.

Read our full review on this checking account.

TIAA, FSB: Yield Pledge Checking

Why it stands out: The Yield Pledge Checking account offers a stronger APY at 0.10%, which is uncommon for checking accounts and worth taking advantage of.

Pros:

Cons:

• Higher minimum deposit requirement

• Online only

What to look for: TIAA’s checking account comes with an APY, which is uncommon for checking accounts: It’s 0.10% APY. There’s also no monthly fee or minimum balance requirement. However, there is a required minimum deposit of $100, which is higher than some of the other checking accounts, especially the other online-only banks. The overdraft/NSF fee here is $30.

Read our full review on this checking account.

KeyBank: Key Smart Checking

Why it stands out: The Key Smart Checking account comes with the competitive offer of no monthly fee and secure online and mobile banking.

Pros:

• No monthly fee

• No minimum balance requirement

• Over 1,000 bank branches

Cons:

• Opening deposit requirement

What to look for: KeyBank’s checking account has no monthly fee and no minimum balance requirement. It does require a minimum deposit of $10. While you’ll have access to secure online and mobile banking here, you’ll also have access to over 1,000 bank branches. The overdraft/NSF fee here is $33.

Read our full review on this checking account.

Arvest Bank: Free Blue Checking Account

Why it stands out: The Free Blue Checking Account comes with no monthly fee, a free debit card and online and mobile banking.

Pros:

• No monthly fee

• No minimum balance requirement

• $400 overdraft coverage (subject to approval)

Cons:

• Minimum deposit requirement

What to look for: Arvest Bank’s checking account has no monthly fee or minimum balance requirement. For this checking account, there is a minimum deposit requirement of $50. The overdraft/NSF fee is smaller here at $17. This account also offers the potential for $400 overdraft coverage, but that is subject to approval.

Read our full review on this checking account.

Fifth Third Bank: Fifth Third Momentum Checking

Why it stands out: The Fifth Third Momentum Checking account doesn’t have a monthly service fee or minimum balance requirement, which make it a good option for your basic banking.

Pros:

• Ability to get your paycheck sooner with direct deposit

• No minimum balance requirement

• No monthly service fee

Cons:

• Debit card fees may apply

What to look for: Fifth Third Bank’s checking account is competitive with many of the other accounts as it has no monthly fee, no minimum deposit or minimum balance requirement. Its overdraft/NSF fee is $37. However, this checking account does have the option to get you your paycheck sooner with direct deposit. And you’ll have access to over 50,000 fee-free ATMs.

Read our full review on this checking account.

Capital One: 360 Checking Account

Why it stands out: The 360 Checking account comes with no minimums and no fees — keeping it in line with some of these more competitive checking accounts.

Pros:

• No minimum balance requirement

• No monthly fee

• Over 70,000 fee-free ATMs

• Overdraft options

Cons:

• Fewer branches than other banks

What to look for: Capital One’s 360 Checking Account ranks among the best of them when it comes to fees and minimum requirements. It has no monthly fee, no overdraft/NSF fee, no minimum deposit requirement and no minimum balance requirement. And while there are over 70,000 fee-free ATMs available with this checking account, there are fewer branch locations available if you want in-person banking.

Read our full review on this checking account.

PNC Bank: Virtual Wallet

Why it stands out: PNC Bank’s Virtual Wallet can help you to track your spending and budget your finances if you’re looking for an account that will help you to manage your money.

Pros:

• Ability to waive the monthly service charge

• Ability to monitor activity and receive notifications

Cons:

• Monthly fee

• Higher minimum balance requirement

What to look for: PNC Bank’s checking account does come with a monthly fee of $7, but there is the ability to waive that fee. It also has a required minimum deposit of $25 and a minimum balance of $500, which is higher than some of the others. You do have the easy ability to monitor your activity and receive various notifications through this account. The overdraft/NSF fee is $36.

Read our full review on this checking account.

E-Trade: E-Trade Checking

Why it stands out: The E-Trade Checking account offers no fees and no minimum balances.

Pros:

• No miminum balances

• No fees

• Easy access to your money through ATMs

Cons:

What to look for: This online-only checking account is competitive with the other accounts when it comes to fees and minimum requirements. It doesn’t have a monthly fee or requirements for deposit or balance. However, unlike some of the others, it does have an overdraft/NSF fee of $25.

Read our full review on this checking account.

Huntington National Bank: Asterisk-Free Checking

Why it stands out: The Asterisk-Free Checking Account stays competitive because it is free to open and free to maintain.

Pros:

• No monthly fee

• No minimum balance requirement

• Extra money when you need it thanks to Standby Cash

Cons:

• Not as many ATMs as some of the others

What to look for: This checking account doesn’t how to deposit cash usaa bank a monthly fee. It also doesn’t have a minimum deposit or minimum balance requirement. The how to deposit cash usaa bank fee here is $36. While there are not as many ATMs to access for this checking account, you do have the benefit of Standby Cash, which might be able to help you to access extra money when you’re in need.

Read our full review on this checking account.

Charles Schwab: High Yield Investor Checking Account

Why it stands out: The High Yield Investor Checking Account offers a higher annual percentage yield than most accounts on the list.

Pros:

• Higher annual percentage yield

• No monthly fees

• No minimums

• Unlimited ATM fee rebates worldwide

Cons:

What to look for: Charles Schwabs’ checking account is online-only, but it does offer unlimited ATM fee rebates around the world. There is also no monthly fee here, although the overdraft/NSF fee is $25. There are also no minimum requirements here for deposits or balances. On top of how to deposit cash usaa bank, the APY is higher than many other accounts on this list at 0.03%.

Read our full review on this checking account.

USAA Federal Savings Bank: USAA Classic Checking

Why it stands out: The USAA Classic Checking account has no monthly service fee and early direct deposit.

Pros:

• No monthly service fee

• Early direct deposit

• Over 60,000 preferred ATMs

Cons:

• Online-only bank

• Minimum opening deposit requirement

What to look for: USAA Federal Savings Bank’s checking account is online-only, but customers will have access to over 60,000 preferred ATMs. You also won’t have a monthly fee with this checking account, as well as no minimum balance requirement. This account does require a $25 minimum deposit and has an overdraft/NSF fee of $29.

Read our full review on this checking account.

Current: Basic Account

Why it how to deposit cash usaa bank out: Current’s Basic account comes with no monthly fee if you’re looking for an account to accommodate your basic banking bank of hawaii credit card review monthly fee

Cons:

What to look for: Current’s checking account is competitive with many other online-only banks on this list. There are no hidden fees, as well as no monthly fee and no overdraft/NSF fee. There are also no requirements for minimum deposit or minimum balance. By using this checking account, you’ll also have access to spending insights to see where your money is going.

Read our full review on this checking account.

BMO Harris Bank: BMO Harris Smart Advantage Account

Why it stands out: The BMO Harris Smart Advantage Account has no monthly maintenance fee and offers online chat, phone and in-branch support.

Pros:

• No monthly maintenance fee

• No minimum balance requirement

• Ability to get cash from an ATM with just your smartphone

Cons:

• Minimum opening deposit requirement

What to look for: BMO Harris’ checking account has a number of benefits, including no monthly fee or minimum balance requirement. It also offers the ability to get cash from an ATM with just your smartphone in case you don’t carry a card on you. There is a minimum deposit requirement of $25 and an overdraft/NSF fee of $36.

Read our full review on this checking account.

iGObanking.com: iGOchecking High Interest Checking Account

Why it stands out: The iGOchecking High Interest Checking Account offers a strong APY, which many of the accounts on this list can’t compete with.

Pros:

Cons:

What to look for: iGOBankings.com’s checking account has a competitive APY as far as checking accounts go: It’s 0.15%. And so that you keep more of your money, this account has no monthly fee. There also isn’t a minimum balance requirement, although there is a minimum deposit requirement of $1. The overdraft/NSF fee for this account is $30.

Read our full review on this checking account.

LendingClub Bank: Rewards Checking

Why it stands out: The Rewards Checking account offers a higher APY with no monthly fee, so you can keep and make more money here.

Pros:

• Higher APY

• No monthly fee

• Earn 1.00% cash back with transactions made on debit card

Cons:

• Online only

• Higher minimum deposit

What to look for: This checking account can earn you 1.00% cash back on transactions you make with your debit card. You can also earn an APY between 0.10% and 0.15% depending on your balance. There’s also no monthly fee here, but there is a minimum deposit requirement of $100. The overdraft/NSF fee is $25.

Read our full review on this checking account.

More From GOBankingRates

Methodology: To determine rankings GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) number of branch locations how to deposit cash usaa bank sourced from the FDIC; (3) minimum deposit to how to deposit cash usaa bank an account; (4) monthly fees associated with the account; (5) minimum balance needed to avoid the fee; (6) APY on the checking account; (6) overdraft fee amount; (7) the average mobile app rating between the Android and Apple stores. All factors were then scored and combined, with the lowest score being best. Factors (1), (4), and (5) were weighted 1.5 times, factor (2) was weighted 2 times, and factor (6) was weighted 0.5 times. All data is up to date as of Nov. 8, 2021. Rates and fees are subject to change.

This article originally appeared on GOBankingRates.com: The 20 Best Checking Accounts of 2022

If you’re looking for a new bank account, you’re aware that you have a ton of choices in banks, credit unions, and other financial outlets. But are you aware that you also have a choice of online banks?

That’s right — in addition to your traditional brick and mortar banking institutions, there are virtual banks that do just about everything traditional banks can do. These online options offer deposit accounts, investment accounts, and other banking products, and there are often major perks to trading off in-person service for virtual help — and most, if not all, are FDIC-insured. RELATED: FBI warns crooks are targeting banking apps.

So, if you’re on the market for a new account, it may be worth checking out the online options and the brick and mortar banks to see which works best for you. Let’s take a look at how these banks work, what they can offer, and which ones are the best of the bunch.

How online banks work

If you’re unfamiliar with online banking, the premise is simple: Online banks operate like brick and mortar banks, offering checking, savings, and investment accounts, among other banking products, and the only difference is that there is no option for in-person banking.

While you’ve likely opened at least one checking account in person at a bank, filling out paperwork and signing it with a banker, the process for online banking is much different. Everything from account set-up to investments and deposits is done via the internet, an app, or by mailing in documents or paper checks.

RELATED: How to do your online banking safely

To make up for the lack of in-person banking, though, most online banks will offer a ton of perks in return. The interest rates on savings, investment, and money market accounts tend to be higher through online banks, and there are often sign-up bonuses or extra earning opportunities that you may not be offered by traditional banks.

For example, Discover, a credit card giant that you’re probably familiar with, doesn’t just offer credit products. It also offers online deposit banking. The nice part about Discover’s online banking is that it offers cash back on debit card purchases made with your Discover debit card. That’s a rare perk to find in ANY bank.

But it’s hardly just Discover that offers unique online banking perks. There are tons of online banks that offer solid interest rates, top-notch apps, and even sign-up bonuses for banking with them. Let’s take a look at the 5 best online banks and how they may work for you.

You may also like: 5 steps to keep hackers off your home network

The 5 best online banks

1. Ally Bank

This fully-online bank offers solid interest-bearing checking and savings accounts and high rates on CDs, but there are a few downsides, too — including the inability to deposit cash into your Ally account.

Pros of Ally Bank

• No-fee, interest-bearing checking — The interest you earn on money deposited in Ally’s interest-bearing checking has two tiers: You’ll earn a 0.10% APY rate if you have less than a $15,000 minimum daily balance and you’ll earn a 0.50% APY rate if you have a daily balance over $15,000 in your account. Both are stellar rates for APYs on checking.
• No-fee, high-yield savings — The rate on Ally’s high-yield savings account rivals some investment products offered by other banks. It’s currently at 1.25% APY no matter what the balance in your savings account is (rate accurate as of June 11, 2020).
• High-yield CDs — Interest rates on Ally’s high-yield CDs are high compared to competitors and are currently between 0.50% APY and 1.35% APY depending on the CD term (rates accurate as of June 11, 2020).
• Stellar mobile app — Apps and other digital components matter when your bank is fully online, which is why we’re mentioning Ally’s mobile app. This app is easy to navigate, intuitive, and has a ton of tools, including a voice assistant, to help streamline your banking process.

Cons of Ally Bank

• Low money market rate — Ally’s money market interest rate is lower than the rate it offers on online savings, so it wouldn’t make much sense to use Ally for this type of investment.
• No way to deposit cash — There is no way to deposit cash with Ally; your options are limited to eChecks, online transfers, direct deposit, wire transfers how to deposit cash usaa bank sending checks in the mail.
• No money orders — Since you can’t bank with Ally face-to-face, you can’t get a money order from your bank; you’ll have to do it elsewhere instead.

2. Discover Bank

You may recognize Discover’s name from credit cards, but this credit giant also offers deposit banking that’s fully online, and you’ll get a ton of perks in return.

Pros of Discover Bank

• Cash back rewards on debit purchases — There aren’t many banks that offer cash back on debit purchases, but Discover does; you’ll get 1% cash back on up to $3,000 worth of debit purchases each month.
• No fees, minimums, or direct deposit requirements — Pretty self-explanatory, but you don’t have to worry about excess fees or direct deposit requirements to bank with Discover.
• Limited overdraft fees — With Discover, you’re only on the hook for one insufficient fund’s fee per day and there are no fees for a returned deposit.
• Solid CD interest rates — The interest rates offered by Discover on CDs are really competitive; right now you can earn between 0.35% and 1.25% on the money deposited in a CD depending on the term (rates accurate as of June 11, 2020).

Cons of Discover Bank

• No branch access — There is only one physical branch of Discover Bank, which means that you won’t be able to pop in easily if you need to (but that’s the downside to all online banks).
• Steep minimum on investment products — Discover may offer solid interest rates on CDs, but it requires a $2,500 minimum for money market accounts and CDs, which could price the average person out of this type of investment.
• Low savings account rates — One of the areas that Discover lacks in is the interest rate it pays on savings accounts; there are other online banking options with higher rates.

3. USAA Bank

This military-focused bank operates almost completely online and offers way more than just your traditional deposit banking options. The downside is not everyone is eligible to join. You’ll have to be a military member, veteran, or directly related to a military member or veteran to join.

RELATED: Don’t fall for this money-stealing trick

Pros of USAA Bank

• Competitive rates on lending products — USAA is more than just a deposit banking option; this bank offers the entire gambit of products, including auto, mortgage, and personal loans with stellar rates.
• Credit card options — Unlike most other banks, USAA offers a ton of different credit card options to its members, including cash back and rewards cards, which is unusual for a bank that operates almost completely online.
• Free checking and savings accounts — USAA Bank’s checking and savings account options are free, meaning they don’t come with fees, and there are no balance requirements either.
• Early military payday — As an online bank focused on the military, the majority of its perks are military-focused, including the early military payday, which gives military members access to their money a day early if they receive direct deposit on their payments.

Cons of USAA Bank

• Must be a member to bank with USAA — It can be nearly impossible to become a member of USAA if you aren’t a military member, a veteran, or have a direct connection to a military member or veteran, which vastly limits civilian access to this bank.
• Only one physical branch — The only USAA branch is located in San Antonio, TX, which means you’ll have to either be a local resident or be comfortable banking online to fully take advantage of what USAA offers.
• Savings account interest rates are low — The savings account interest rates are low at USAA compared to competitors, so if you’re looking to optimize the money you earn on your savings, you’d be better off going with a smaller online bank instead.

4. Marcus by Goldman Sachs

This online bank is the how to deposit cash usaa bank banking arm to Goldman Sachs and offers high-interest rates, no minimum deposits, and a ton of other perks, but you’ll have to make sacrifices to get them.

Pros of Marcus by Goldman Sachs

• High interest rates on certain products — Marcus’ high-yield savings account offers a rate that’s four times the national average, which makes this account a solid investment if your focus is on earning interest on your money.
• A variety of investment products — Marcus offers a ton of investment products compared to the average online bank, including several types of CDs.
• No fees — There are virtually no extra fees with any of Marcus’ banking products, including no-penalty high-yield CDs and no-fee personal loans, both of which are unusual for any bank, online or otherwise.

Cons of Marcus by Goldman Sachs

• No checking account option — One of the real downsides to banking with Marcus is that this online bank doesn’t offer checking accounts, which means you’ll have to take your checking account business elsewhere.
• No ATM network — Marcus also doesn’t offer access to an ATM network, which can be really inconvenient, unless you’re prepared to transfer money from Marcus to your checking account and then withdraw it.
• No mobile check deposit — You can’t deposit checks via mobile with Marcus; if you want to make a deposit, you’ll have to be prepared to connect an external account and make a transfer from that account to Marcus.

5. Capital One

You may equate the name Capital One with credit cards (and those “What’s in YOUR wallet?” commercials), but this lending giant also offers some solid deposit banking options that may make the hassle of banking digitally worth the effort.

Pros of Capital One

• Top-notch customer support — One of the things Capital One banking has become known for is its excellent customer service, which is elevated by an intuitive, easy to use app that allows you to bank from the comfort of your home — or wherever you are.
• High interest rates — The interest rates offered by Capital One on its savings accounts are higher than the average bank offers, which means you can maximize the money you have in your savings by earning a higher-than-normal interest rate on it.
• No minimum deposit requirement — Unlike some other banks, Capital One doesn’t have a minimum deposit requirement on its deposit accounts, including CDs, which also offer rates higher than those you’ll find at brick and mortar banks.

Cons of Capital One

• Steep overdraft fees — While you have to opt into Capital One’s overdraft fees, the fees you’re assessed if you overdraw your account are steep; this bank charges $35 up to four times each day for overdrawing your account.
• No ATM withdrawals on savings — You can’t withdraw money from your Capital One savings account without being assessed a fee, even if you’re using a Capital One ATM to do it. You’ll have to transfer money from your savings to your checking and then withdraw your money to avoid fees, which can be a hassle if you aren’t using a checking account from Capital One.
• No money market account options — Unlike some of the other online banks, Capital One doesn’t offer a money market account option, so if you’re trying to invest in an MMA, you’ll need to look elsewhere.

As with traditional brick and mortar banks, online banks can vary wildly from one to the next. You’ll need to figure out which one st joseph statue for selling home best for you based on your banking priorities.

Ultimately, there are plenty of options out there, so pick one that meets your needs. Between the advanced app technology and other perks, you won’t miss much from the face-to-face banking process — if you choose wisely, anyway.

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If you need to deposit cash into your bank account, you have several options, including your local bank branch or an ATM that how to deposit cash usaa bank deposits. While it isn’t possible to make deposits directly to most online banks, there are often workarounds, like using a money order or an in-network ATM.

Although many financial transactions are now cash-free and lots of people keep track of their finances digitally, cash is still important for many individuals.

When you need to deposit cash to your checking or savings account, there are a number of safe and convenient options, including local bank branches and certain ATMs. Online banks don’t usually have a straightforward way to deposit cash, but there are a few ways to get cash into your account even without a physical bank branch.

Jump ahead to learn more about how to deposit cash in your specific situation:

• How to Deposit Cash at a Bank
• How to Deposit Cash in an ATM
• How to Deposit Cash With an Online Bank

How to Deposit Cash at a Bank

If you belong to a regional or national bank, you can make a deposit at any branch. If you are part of a credit union, you can make a deposit at your home credit union or another branch if your credit union is part of a larger network.

Making a cash deposit at a local bank branch or credit union takes just a few steps:

• Fill out a deposit slip with your account number.
• Place your cash and deposit slip in an envelope.
• Hand your envelope to one of the tellers.

After making a cash deposit at a physical bank or credit union, the cash will be counted and the funds will become available in your account immediately in most cases.

If you aren’t able to get to your bank’s branch for any reason, you may be able to make a deposit at an ATM instead.

How to Deposit Cash in an ATM

Many banks allow customers to deposit cash directly in an ATM, but the process varies from bank to bank. Nowadays, depositing cash in an ATM is generally as simple as using your debit card at an ATM and placing the cash directly inside. That said, there are a few things to keep in mind when making cash deposits at an ATM.

Some ATMs Require Deposit Slips

Each bank has different ATMs, and some require a deposit slip or envelope for cash deposits. Make sure to read the ATM prompts carefully and use a deposit slip to note your account information and deposit amount if necessary.

Make Sure to Count Your Cash

If your bank allows for cash to be deposited directly into an ATM with no envelope, make sure to count your cash before placing it in the machine. While ATMs are generally accurate, they can occasionally make mistakes in counting and scanning bills. If you know the correct amount ahead of time, you can verify that the ATM has counted correctly after making your deposit.

If there are any issues, make sure to note the ATM’s location and the time that the mistake occurred to help resolve the problem.

Funds Aren’t Available Immediately

Unlike deposits made with tellers, the funds from cash deposits at ATMs are not always available immediately. Funds can take more than one business day to show up in your account, so be mindful of this if you need the money in your account right away. In general, ATMs directly outside of bank branches will process funds to your account more quickly.

Even if you have an online bank with no physical locations, there are still options for depositing cash.

How to Deposit Cash With an Online Bank

If you have an online bank with no physical locations, there are still options for getting cash into your account, but the process will vary based on your bank and specific circumstances.

Try some of the following methods as alternative ways to get cash into your online bank account.

Transfer from Another Bank Account

If you have another bank account with physical branches, you could deposit the money in person, then make a transfer to your online bank account.

Use a Prepaid Debit Card

Some prepaid debit cards can be loaded with cash at retail stores. After loading cash, you can use the debit card’s online portal to transfer money electronically to your online bank account. That said, some prepaid debit cards involve fees, so you’ll want to be mindful if making small deposits.

Purchase a Money Order

You can purchase a money order at the post office as well as other locations, which allows you to send your cash deposit electronically to your account. Money orders may require a flat or percentage fee, so check in advance whether this is the right approach for you.

Find an In-Network ATM

Many online banks include a network of ATMs, which you can use to make a cash deposit directly to your account. Look into whether this is a possibility for your particular bank.

No matter how you deposit cash, make sure that you account for the funds when managing your budget.

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