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What are the Safest Ways to Deposit Money?

Kristie Lorette
Kristie Lorette

When depositing money, it's important to think about both physical and technological safety. There are many options for making deposits, including through a bank teller, using the ATM, through the mail, or by leaving it in the night depository. Some banks even offer the option of mobile deposits, where a person can take a picture of his or her check with a smartphone or scanner and submit deposits online. If someone is going to deposit money in cash, it's safest to make the deposit during the day and in person, when other people are around and security measures are in place. It is also best to get a receipt or confirmation number that allows the account holder to prove the deposit was made in the first place.

Physical safety is often a concern when someone makes a deposit. It's safest to deposit money during the day, in a well-populated and secure area. If money must be deposited at night, the person should make sure the area is well-lit, and not isolated from other people. It can also be safer for at least two people to make the deposit, since they may be less likely to be a target for a thief.

It's safer to deposit money through a drive-thru at the bank than through an ATM.
It's safer to deposit money through a drive-thru at the bank than through an ATM.

If a person chooses to deposit money in a checking account, whether it be his own or someone else's account, using a bank teller, ATM, or the mail can provide proof that the deposit was made. All three options provide the proof required in case the bank comes back later and says that the deposit was not made or there is an error in the amount. When someone chooses to deposit money in the ATM or with a teller, he or she receives a receipt that includes the date, time, and amount of the deposit. If the deposit is mailed, using services like priority, certified, or return receipt mailing can allow the deposit to be tracked.

Some banks offer mobile deposits.
Some banks offer mobile deposits.

The safest ways to deposit money also depend on what type of money someone is depositing. For example, if the deposit is in cash, it is safer to deposit it with a teller in the bank lobby or through the drive-through rather than mail it or deposit it in the ATM. Since the individual teller has to count the cash immediately and make the deposit, it makes it less likely that there will be a dispute than if the person chooses to deposit money in the ATM or with the night deposit box.

Money may be deposited directly through a bank teller.
Money may be deposited directly through a bank teller.

When depositing checks, however, a wider variety of methods are just as safe as visiting a teller or ATM. With mobile deposits, for example, the online bank system supplies a confirmation or transaction number, which is verification that the deposit was made. Sending checks in the mail can also be just as safe since it can be tracked using a tracking number the post office or shipper supplies.

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    • It's safer to deposit money through a drive-thru at the bank than through an ATM.
      By: Sheri Armstrong
      It's safer to deposit money through a drive-thru at the bank than through an ATM.
    • Some banks offer mobile deposits.
      By: Andrew Barker
      Some banks offer mobile deposits.
    • Money may be deposited directly through a bank teller.
      By: R MACKAY
      Money may be deposited directly through a bank teller.
    • Technology now allows bank deposits to be made on tablets, phones and other portable devices.
      By: Ammentorp
      Technology now allows bank deposits to be made on tablets, phones and other portable devices.
    • Safely making deposits through an outdoor ATM requires privacy and careful attention to surroundings.
      By: WavebreakmediaMicro
      Safely making deposits through an outdoor ATM requires privacy and careful attention to surroundings.