Best Online Banks That Take Cash Deposits – Bankrate.com

ADVERTISEMENT

Financing a home purchase
Refinancing your existing loan
Finding the right lender
Additional Resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Compare Accounts
Use calculators
Get advice
Bank reviews
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Compare by category
Compare by credit needed
Compare by issuer
Get advice
Looking for the perfect credit card?
Narrow your search with CardMatch™
Personal Loans
Student Loans
Auto Loans
Loan calculators
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Best of
Brokerages and robo-advisors
Learn the basics
Additional resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Get the best rates
Lender reviews
Use calculators
Knowledge base
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Selling a home
Buying a home
Finding the right agent
Additional resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Car insurance
Homeowners insurance
Other insurance
Company reviews
Elevate your Bankrate experience
Get insider access to our best financial tools and content
Retirement plans & accounts
Learn the basics
Retirement calculators
Additional resources
Elevate your Bankrate experience
Get insider access to our best financial tools and content
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for .
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Here is a list of our banking partners.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Using an online-only bank often means you’ll earn higher rates and pay fewer fees than you would with a brick-and-mortar bank. However, a potential downside of not having access to bank branches is that it’s more difficult to deposit cash into your account. In fact, some online banks don’t even allow for cash deposits.
Examples of people who may frequently put cash into the bank include workers who earn tips, such as bartenders, servers and hair stylists. Many business owners who are paid in cash also commonly need to put it in the bank.
To get around these issues while still reaping the benefits of online banking, let’s look at several online banks and credit unions that allow you to deposit cash into your account at places like ATMs and stores.
Members of Alliant Credit Union have access to more than 80,000 surcharge-free ATMs, and some of them allow for cash deposits. The credit union’s ATM search webpage lets you search specifically for its ATMs that accept deposits.
Customers of Axos Bank can deposit cash at participating ATM locations throughout the country. The bank also partners with the Green Dot Network to allow customers to deposit cash into their accounts at various retailers nationwide, such as 7-Eleven, CVS, Dollar General, Walgreens, Walmart, Kroger, Rite Aid, Safeway and ACE Cash Express.
To make a deposit at one of these stores, just stop by the register and ask the cashier to add the money to your Axos debit card. You can add any amount between $20 and $500 at any of these locations, and some Walmart and ACE Cash Express locations allow you to add more.
Axos does not charge a fee for a cash deposit, though participating stores may charge up to a $4.95 service fee.
Fintech company Bluevine offers a business checking account that allows customers to deposit cash at stores that are part of the Green Dot Network. You can deposit cash by handing a cashier the money and your Bluevine Debit Mastercard. Not all Green Dot merchants accept cash deposits, and those that do may impose a fee of up to $4.95.
While Capital One does maintain branches in nine states, many of the bank’s customers live elsewhere and only access their accounts online. Cash deposits can be made at branches, Capital One Cafes, or any Capital One-owned ATM. While Capital One provides customers with fee-free access to ATMs in the Allpoint and MoneyPass networks, the bank’s customers are not able to deposit cash at those ATMs.
Chime is a neobank that doesn’t operate branches, yet customers can deposit cash into their checking accounts at stores by handing the money and their debit card to a cashier. Participating retailers include 7-Eleven, CVS, Walgreens and Walmart. While there are no fees to deposit cash at Walgreens, the other stores may charge a fee for this service.
Chime customers are not able to deposit cash into their accounts at an ATM.
Similar to Chime, customers of the neobank Current can deposit cash at various stores throughout the country, including participating 7-Eleven, CVS, Dollar General and Family Dollar locations. To deposit funds, customers hand the money to the cashier and have them scan a barcode in the Current mobile app. The money is then available instantly in the account.
Customers of online-only bank LendingClub can deposit cash into their accounts at any NYCE Shared Deposit ATMs and MoneyPass Deposit Taking ATMs.
NBKC Bank only operates a few branches, so it’s often best for those comfortable with banking entirely online. You can deposit cash into your account at any MoneyPass Deposit Taking ATM.
While Pentagon Federal Credit Union does maintain around 50 branches across 13 states, those who live elsewhere can still open accounts and access them entirely online. Members of the credit union have fee-free access to more than 40,000 ATMs in the U.S., some of which accept cash deposits.
SoFi is a personal finance company and online bank with products that include checking and savings accounts. Like Axos Bank, SoFi allows its customers to deposit cash at retail locations that offer Green Dot services. These include ACE Cash Express, CVS, Walgreens, Walmart and 7-Eleven.
Customers of USAA Federal Savings Bank can deposit cash at ATMs owned by the bank. While the bank’s customers also have fee-free access to Allpoint and MoneyPass ATMs, as well as PNC Bank-owned ATMs, these ATMs do not allow for cash deposits into USAA Bank accounts.
While Varo Bank customers are unable to deposit cash using an ATM, they can do so at the cash register at participating Green Dot locations, including some Walmart, Walgreens, 7-Eleven, Albertsons, Safeway and Kroger stores. The money is usually added to your account balance within 10 minutes, although at some locations it can take up to an hour. Stores may charge a fee of up to $4.95 for the service.
Membership in Wings Financial Credit Union is open to those who live in certain areas of the country, as well as to those who work in the airline industry nationwide. The credit union operates more than two dozen branches in a handful of states, but members can open and maintain accounts entirely online. Cash deposits into accounts are accepted at select Wings Financial ATMs.
Online banks may allow for cash deposits at some or all of their ATMs. On some banks’ ATM locator web pages, customers can check a box so only the ATMs that accept cash will be listed.
It’s also important to find out whether the bank imposes any limits on the amount of cash — or the number of dollar bills —  it will take per ATM transaction.
Various online banks partner with the Green Dot Network, which enables you to deposit cash into your bank account at participating stores such as 7-Eleven, CVS, Dollar General, Walgreens and Walmart. To do so, just hand the money to the cashier. You’ll also need to either present your debit card to the cashier or have them scan a barcode in your bank’s mobile app. (The process may vary depending on each bank’s rules.)
Most banks do not charge customers a fee for depositing cash into their accounts at the bank’s ATMs. While some banks also allow account holders to deposit cash at out-of-network ATMs, they may charge customers a fee for these transactions. (In addition, the owner of the out-of-network ATM may also charge a fee for such a transaction.)
Deposits made to your bank account at retailers through the Green Dot Network may incur a fee of up to $4.95 per transaction.
There are various ways to fund an online bank account in addition to depositing cash. These include:
The benefits of an online bank often include higher rates of return and fewer fees than those of a brick-and-mortar bank. For anyone who prefers an online bank and plans to make frequent cash deposits, it can pay to shop around for a bank that allows you to put cash into your account at ATMs or retailers.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access
BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access
© 2022 Bankrate, LLC. A Red Ventures company. All Rights Reserved.

source

ADVERTISEMENT

Previous articleSteven Spielberg honored by Berlin Film Festival
Next article‘All Quiet on the Western Front’ cinematographer plunged into the horror and beauty of World War I