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Mtl_zack's avatar

Did I deposit my money correctly?

Asked by Mtl_zack (6765points) February 2nd, 2009

I got a lot of money today from selling my used textbooks. The sum was paid in cash in a big wad. I went to the official bank ATM machine and put the money in an envelope, but the money wasn’t straight. It was folded like a wad of cash. I also put a cheque that I signed on the back in the same envelope because it said to use only one envelope for all deposits.

Did I do this correctly? I don’t usually deposit through ATMs, but I didn’t feel comfortable with that much money in cash on me and there was no branch that was accessible.

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9 Answers

steve6's avatar

No problem, banks are honest. As long as the deposit fed into the ATM you are OK.

Aethelwine's avatar

You should be fine. Maybe next time, straighten out the money, the tellers will appreciate it.

Jeruba's avatar

Does your balance show what you expected to see?

Mtl_zack's avatar

The money went in, I retrieved my card and I got a receipt. The receipt shows what was expected, but it said that it might take 5 business days for the transaction to be complete.

@jonsblond: Now I know for next time. I can see how that would be annoying.

steve6's avatar

@jonsblond Throw the money in there. I’ve never put cash into an ATM but if I did I would think the trust I put in the bank would let me put the bills in any order, upside-down and what not. (and my mom was a teller when she started)

Aethelwine's avatar

It’s just helpful for the cashier to put it in an orderly manner. It doesn’t have to be perfect, but if you have concerns, put them straight, not in a wad.

bythebay's avatar

@Mtl_zack: The 5 day warning is because they don’t really know what you’re putting in the envelope when you make a deposit. An out of town check, or a check drawn from an unusual source might take a few days to clear and be credited to your account. So your balance reflected and balance available might differ.

SeventhSense's avatar

You should always use a deposit slip along with the envelope.

Dutchess_III's avatar

I’ve worked as a bank teller. We had people throw loose cash in the box along with a deposit slip. It was up to us to sort it all out.

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