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Easily Deposit Cheques at Bank Branches and ATMs
Before ATMs and online banking, cheques were how people handled most of their banking whether it was withdrawing cash, depositing money, or making payments. While they’re not as common today, they’re still in use. The good news is that modern banking has made handling cheques faster and more secure than ever.
Understanding how to deposit a cheque in the bank is simple, especially when doing it at a branch. The process involves just a few easy steps to ensure your funds are securely added to your account, it’s fast, easy, and doesn't require much more than a signature and a little attention to detail:
Go to your bank and approach a bank representative to obtain a cheque deposit slip. These slips are usually available in the lobby area for easy access.
Providing all required information, fill the deposit slip. The details include name as it appears on the cheque, bank account number, the amount mentioned on the cheque (both in words and numbers), the name and branch of the bank where the cheque is drawn, and the cheque number. You'll need to fill this information twice, on separate perforated sections of the slip.
Double-check the details on the deposit slip to ensure accuracy. Errors can prevent funds from being deposited into your account.
Attach the cheque to the deposit slip and submit them to the bank representative responsible for cheque deposits. Collect the cheque deposit receipt. This receipt is the second perforated section of the deposit slip, stamped by the bank.
This method ensures your cheque deposit in bank is handled securely and accurately, making sure it’s processed correctly for further action and reaching your account without any issues
Also Read:- What is a Bounced Cheque
If you're unable to visit your bank branch, you can also deposit cheques at ATMs equipped with cheque depositing capabilities. Here's how you can deposit a check at ATM:
The bank credits the funds into your account within the shortest time possible. ATM cheque deposit is a convenient alternative when you can’t visit the branch in person, offering both speed and security for your cheque deposit.
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A bank deposit slip includes fields to collect essential information such as the account holder’s name, account number, date, and the amount being deposited. Following are the steps you should follow when filling the form:
Unlike cash withdrawals, which can be made at any bank's ATM, cheque deposits normally require you to use your own bank's ATM or branch facilities. A few ATM kiosks also have a drop box feature for dropping cheques into an envelope akin to a deposit slip. Here, you will not receive a receipt for the deposit of cheques immediately.
If you are a DBS Savings Account holder and wish to gain further insights into depositing cheques at DBS bank branches or ATMs, you may consult your Relationship Manager. For your convenience, they can share further information on the nearest DBS branch and ATM kiosks, where you can deposit your cheques with ease.
*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.
