How to Deposit Cash and Cheques at an ATM in Canada

Historically, it was the norm to visit your bank branch and talk to the teller in order to deposit money into your account. However, this is no longer necessary. Now, one of the quickest ways to add cash to your account or deposit a cheque is to visit an ATM. This means there is no need to wait in line, talk to anyone, or even visit during specific opening hours.

In this guide, we’ll walk you through key steps to depositing cash and cheques at Canadian ATMs. We will also discuss how to keep your transactions safe, what to know about hold times, and how to avoid common errors.

What you need before depositing money at an ATM

Before you head out the door to make your deposit, be sure you have everything you need. This starts with your debit card. You will also need your PIN in order to access your Canadian bank account.

Next, prepare your deposit. Ensure your cash is clean and flat so that the ATM is able to read each bill correctly. Canadian machines may also restrict the number of bills per transaction. If you are making a sizable deposit, check the bank’s website first to see if they can accept the deposit through an ATM or if you will need to visit the branch in person.

How to make a deposit at an ATM in Canada

Making a deposit at an ATM is one of the fastest ways to add funds to your account. Here’s how it works:

• Step one: Insert your card and enter your PIN
• Step two: Select the “Deposit” option and choose the account you want to put your money into. This will be either your chequing or savings account.
• Step three: Insert your cash or cheque into the slot. Some banks still use envelopes, though most newer machines ask for envelope-free deposits. This depends on the bank and location, though.
• • For a cash deposit, Many Canadian ATMs limit the number of bills per deposit, often between 20 and 50 bills, depending on the bank and machine.. Be sure your bills are flat and not crumpled to avoid errors as the ATM will count your cash automatically.
  • For a cheque deposit, ATMs can accept multiple cheques at once, though you need to endorse the cheque first by signing it on the back.
• Step four: Review the onscreen image. Confirm that the scanned amount is correct and approve the transaction. If something looks off, be sure to cancel the deposit and try again.
• Step five: Choose whether to print a receipt or not.
• Step six: Take your ATM card. While it is the final step in the process of making an ATM deposit, it is still critical to remember. A lost bank card is a hassle to deal with, so check that you have yours before leaving the machine.  

How long does it take for an ATM deposit to clear in Canada?

It’s necessary to recognize that while ATM deposits are convenient, they do have a cut-off time, which determines when your funds start processing. If you make your deposit after this time, you will need to wait until the next business day for your funds to get deposited, excluding any holding periods that apply to cheques.

In Canada, the maximum holding period for a cheque is five days for amounts under $1,500 while cheques for over that value have an eight business day upper holding limit. The Government of Canada does mandate that you can access the first $100 of the cheque on the following business day.

Cash deposits work differently. If you deposit bills instead of a cheque, it’s much faster. The exact timing will vary based on the bank, your account history, and the size of the deposit. Most Canadian banks make the cash available immediately, giving you quick access to your money. When you make a large deposit or have a brand new account, you may see a longer hold.

Common ATM deposit errors and how to avoid them

Even if the process feels simple, a small mistake can slow things down or cause your deposit to fail. Knowing what to watch for helps you avoid delays and ensures the ATM will accept your deposit.

Errors can occur as a result of:

• Damaged or unreadable bills. ATMs often reject cash that has rips and folds. It’s always best to flatten your bills before depositing them.
• Cheques missing key details. A cheque without a signature or date will not process. Neither will one without a clear amount. Be sure to sign your cheque and confirm the details are readable before taking it to the ATM.
• Foreign currency. Canadian ATMs accept local currency only. If you need to deposit non-CAD cash or cheques, be sure to visit your branch for proper handling.
• Using another bank’s ATM. In Canada, you must use your own bank’s machine to make a deposit. The “Deposit” option will not show on the screen when using another bank’s ATM.
• Skipping the deposit summary. While it may seem like a redundancy, it’s always best to review the image and amount on the deposit summary. If something looks off, cancel the transaction and start over. If necessary, you can also visit a teller in the branch itself.

Safety tips when depositing cash or cheques at an ATM

While ATMs make banking faster, it’s still important to stay aware of your surroundings. Here are a few simple habits that can help keep your money (and your information) safe:

• Choose to use well-lit, bank-owned machines in a high-traffic area. Ideally, select one that is inside a branch.
• Shield your PIN with your hand or body to block the keypad from anyone nearby.
• Count your cash privately in your car or at home before you go to make the deposit. Never do it in public when you’re standing beside the ATM.
• Avoid accepting help from strangers. We recommend you politely decline the “assistance” and speak with a branch employee instead.
• Take your card and receipt before walking away. If you leave something behind, it unnecessarily exposes your personal information.
• Lock your car doors and keep the engine running when using a drive-thru ATM.

A bit of extra caution can make a big difference. Stay alert and follow these simple habits to complete your ATM transactions with peace of mind.

Takeaway

ATMs make it easy to deposit cash and cheques on your own schedule, giving you more control over your own banking. Once you understand the process and follow a few safety tips, you can complete your deposits confidently, securely, and without the wait.