Bofa Deposit Atm Near Me (2024)

FAQs

Can I deposit money at any ATM Bank of America? ›

Bank of America: Deposits can only be made at Bank of America-branded ATMs. Withdrawals, transfers and balance inquiries can be made from other ATMs, though a $2.50 fee from BofA will apply, likely in addition to an ATM-owner surcharge.

If you're wondering if you can deposit cash at an ATM, the answer is yes, you can, but not all ATMs accept cash. The details, including fees, vary depending on your bank, and if you use a bank that operates only online, you may not be able to deposit any cash at all.

Bank of America Corporation affiliates include all entities that utilize the Bank of America, Banc of America, Bank of America Private Bank, U.S. Trust, Merrill and BofA Securities brand names.

In many cases, the answer is yes. It's common for ATMs to accept both cash and check deposits, offering a convenient solution that's available outside of banking hours. The following guide explains exactly how to deposit a check in an ATM, how to access your funds, and more.

Not all ATMs accept cash. Often, banks mainly accept cash deposits at branch ATMs or machines that are part of a more extensive ATM network. In India at this point in time ATMs are only accepting cash for bank accounts of their own bank. This service is free of charge.

Bank of America, Wells Fargo, and Chase have each adopted such restrictions on cash deposits in an attempt to curb attempts at fraud and money laundering. This Bankrate article highlights alternative ways to deposit money into someone else's account.

Can you deposit cash at an ATM that isn't your bank? Most banks don't allow you to deposit cash at an ATM that's out-of-network. The banks that do accept cash deposits through out-of-network ATMs often charge an extra fee — and, typically, require longer processing periods.

Depending on the situation, deposits smaller than $10,000 can also get the attention of the IRS. For example, if you usually have less than $1,000 in a checking account or savings account, and all of a sudden, you make bank deposits worth $5,000, the bank will likely file a suspicious activity report on your deposit.

There is no limit to the cash you can deposit and it's not illegal to do so. The bank is required by law to report your deposits to the IRS, in order to keep a record of your deposits and also make sure there are no money laundering activities involved.

You can use your Bank of America debit card or ATM card anywhere you see the CIRRUS symbol. In addition to CIRRUS, you can use ATMs with the Mastercard or Visa symbols. The symbol on the front of your card will indicate if your card is Mastercard or Visa. 2.

Is Bank of America owned by Chase? ›

Like any publicly traded company, Bank of America is owned by its shareholders. The Charlotte, North Carolina-based financial institution is the second-largest bank in the U.S., with roughly $2.45 trillion in assets at the end of 2023, second only to JPMorgan Chase (JPM -1.19%).

You can access your accounts at thousands of automated teller machines (ATMs), all of which are audio ATMs. As a Bank of America account holder, you don't incur fees for withdrawals, transfers or balance inquiries at ATMs displaying the Bank of America name and logo.

Deposit limits: Just like banks set daily withdrawal limits from ATMs, many set daily cash deposit limits as well, typically around $4,000 to $5,000. Some also limit the number of bills you can deposit at any given time, regardless of how much money they add up to.

In most cases, your deposits should be successful and error-free. But consider the consequences of an error. Especially when you're making a large, important deposit—or if you're in danger of bouncing checks—an ATM might not be your best choice. From time to time, there will be errors.

But in some cases, you can deposit money into the machine, as well. Sometimes it's not convenient to deposit your cash inside a bank branch. Maybe you live too far away from one or you can't find the time to go during regular bankers' hours. If this is the case, you may be able to deposit cash at an ATM.

If you use an ATM machine outside of your bank's network, the ATM owner isn't the only one that may charge you — your own bank may charge a fee. Some banks waive out-of-network fees, while others reimburse ATM fees charged by outside banks, usually up to a limit.

Making a Cash Deposit at a Bank

However, whether or not you're able to deposit cash into another person's account will depend on the bank. Some large banks — including JPMorgan Chase, Bank of America, and Wells Fargo — have banned cash deposits from non-customers.