Can I deposit a $20,000 check in an ATM?

Can I Deposit a $20,000 Check in an ATM?

Depositing large checks through ATMs can be convenient, but it’s essential to be aware of individual bank’s deposit limits. These limits vary widely and may not accommodate checks as large as $20,000.

ATM Deposit Limits for Checks

Most ATMs have specific daily limits for check deposits. These limits are typically lower than the limits for cash deposits. For example, a bank might have a daily check deposit limit of $5,000.

Attempts to deposit checks that exceed these limits will typically result in the transaction being declined. In these cases, the check must be deposited through a teller transaction at a branch location.

Confirming Bank Policies

Before attempting to deposit a large check in an ATM, it’s advisable to confirm the bank’s specific policies. This can be done by:

• Consulting the bank’s website or mobile banking app
• Calling the bank’s customer service line
• Visiting a branch location

By confirming the bank’s deposit limits, you can avoid any potential issues or delays with your transaction.

Alternatives to ATM Deposits

If the ATM deposit limit is insufficient, there are alternative ways to deposit large checks:

• Teller Transactions: Depositing checks with a teller at a branch location allows for higher deposit amounts.
• Mobile Check Deposit: Some banks offer mobile check deposit through their mobile banking apps. While there may still be deposit limits, they are often higher than ATM limits.
• Remote Check Deposit: Larger banks may offer remote check deposit through a desktop scanner. This option typically involves scanning the check and submitting it for deposit without visiting a branch.

Conclusion

While it may be possible to deposit a $20,000 check in an ATM, it’s subject to the bank’s specific deposit limits. To ensure a successful transaction, it’s crucial to confirm these limits before attempting an ATM deposit. If necessary, consider alternative deposit methods such as teller transactions or mobile check deposit.