Most online banks cannot take cash deposits directly
Online banks do not have physical branches where you can walk in and hand over cash. They exist only on the internet and through apps, so they have no tellers or deposit machines. This means you cannot deposit cash the way you would at a traditional bank with a location near you.
However, you have real options to get cash into an online checking account. The most common path is to use a partner bank's ATM or branch, transfer money from another account you already have, or use a service that accepts cash on your behalf. Which option works best depends on what accounts and resources you have access to right now.
Key Takeaways
- Some online banks partner with ATM networks or physical banks where you can deposit cash at a machine or teller window, then the money moves to your online account.
- If you have a traditional bank account or credit union account, you can deposit cash there and transfer it to your online checking account electronically.
- Money transfer services like MoneyGram or Western Union accept cash and can send it to your online bank, though this usually costs a fee.
- A few online banks offer cash deposit through retail partners like Walmart or CVS, where you can hand cash to a cashier and it goes into your account.
- The fastest deposits usually happen when you use a partner bank's ATM or branch, often within one business day.
Using your online bank's partner network
Many online banks have partnered with other banks or ATM networks so their customers can deposit cash without leaving home. The most common partnerships are with Allpoint (an ATM network), MoneyPass, and regional banks. When you open an online checking account, the bank will tell you which partners it works with.
To find a partner location near you, log into your online banking app or website and look for a "Find an ATM" or "Deposit cash" section. Enter your zip code and the app will show you nearby branches or ATMs where you can deposit. At the ATM, you insert your debit card, select "deposit," and follow the prompts. At a branch, you hand the cash to a teller and give them your account number. The money usually appears in your account within one business day.
Before you go, check your online bank's website to confirm which partner locations accept deposits from your specific bank. Some ATMs in a network only allow withdrawals, not deposits. A quick call to your bank's customer service line can save you a trip.
Transferring from another account you already own
If you have a traditional checking or savings account at a brick-and-mortar bank or credit union, you can deposit cash there and then move the money to your online account electronically. This is often the simplest route if you already have that account open.
Deposit the cash at your existing bank's branch or ATM the way you normally would. Once the deposit clears (usually the same day or next business day), log into your online banking app and look for a "Transfer" or "Move money" option. Select the account you want to transfer from, enter the amount, and confirm. The money will move to your online checking account, typically within one to two business days.
This method works even if your first bank and your online bank are completely separate companies. You do not need any special relationship between them — you just need your account numbers and routing numbers, which you can find on your statements or in your banking apps.
Cash deposits through retail partners
A small number of online banks have partnered with retailers like Walmart, CVS, or other stores to accept cash deposits. This means you can walk into the store, go to the customer service desk or money center, and hand cash to an employee. They process it and the money goes into your online account.
To use this option, you need to check whether your specific online bank offers it — not all do. Log into your account or call customer service and ask if they have retail deposit partners. If they do, the app will usually show you nearby locations and walk you through the process. You may need to provide your account number or a special code at the register.
Deposits through retail partners usually take one to two business days to show up in your account. Some retailers charge a small fee for this service, though many do not. Ask before you hand over your cash.
Using money transfer services
Services like MoneyGram, Western Union, and Walmart2Walmart accept cash and can send it to a bank account. You go to a location that offers the service (many grocery stores, pharmacies, and Walmart locations have them), give them cash, and provide your online bank account details. The service sends the money to your bank.
This option costs money — fees typically range from a few dollars to around ten dollars depending on the amount and the service. It is slower than other methods, usually taking one to three business days. Use this route only if your online bank does not have partner ATMs or retail locations nearby and you do not have another account to transfer from.
Before you go, confirm with the money transfer service that they can send funds to your specific bank. Most major banks work with these services, but it is worth checking. You will need your account number and your bank's routing number.
What to do if your online bank has no deposit options
A very small number of online banks do not offer any way to deposit cash. If this is your situation, you have two choices: open a second account at a traditional bank or credit union specifically for receiving cash deposits, or switch to an online bank that does offer cash deposit options.
If you decide to keep both accounts, deposit cash at the traditional bank and transfer it to your online account electronically. This adds a step, but it works reliably. If you decide to switch banks, compare the cash deposit options available before you open the new account. Most major online banks now offer at least one way to deposit cash, so you have choices.
How long deposits take to appear
The speed of your deposit depends on which method you use. Deposits at a partner bank's ATM or branch usually appear within one business day. Transfers from another account you own typically take one to two business days. Retail partner deposits and money transfer services usually take one to three business days.
Business days are Monday through Friday, excluding federal holidays. A deposit you make on Friday evening might not show up until Monday or Tuesday. If you need the money urgently, ask your online bank whether it offers any faster options or whether you can make a transfer from another account instead of using cash.
Frequently Asked Questions
Can I deposit a check instead of cash?
Yes. Most online banks let you deposit checks by taking a photo with your phone through the banking app. This is called mobile check deposit and usually takes one to two business days. You do not need to visit a branch or ATM for checks.
What if I do not have a debit card yet?
You can still deposit cash at a partner branch by giving your account number to a teller. You can also use a money transfer service or deposit at a retail partner without a card. Once your debit card arrives, you can use ATMs too.
Do I have to pay a fee to deposit cash?
Deposits at your online bank's partner ATMs and branches are free. Retail partner deposits are usually free but sometimes charge a small fee — ask before you deposit. Money transfer services always charge a fee, usually a few dollars.
What happens if I deposit more than a certain amount?
Banks must report cash deposits over ten thousand dollars to the federal government. This is normal and legal — it does not mean anything is wrong. Smaller deposits do not trigger any reporting.
Can someone else deposit cash into my account?
Yes, if they have your account number and your bank's routing number, they can deposit cash at a partner location or use a money transfer service to send it to you. They do not need your permission or access to your account.