I can use bank A’s ATM to withdrawal money out of bank B. Can I also make a deposit in bank A’s ATM for bank B?
Sometimes yes, sometimes no. It all depends upon said bank’s policy.
Not the most helpul of posts, I know.
The previous poster has it dead on.
The ATM deposit envelopes at US Bank ATMs have a field for you to fill out labelled “Bank Name” on them. Either US Bank is wholly insane (a possibility) or at least some ATMs take deposits for multiple banks.
I will note that not all ATMs have deposit-accepting gear installed in them. On some models, it is an option, and the ATM operator may decide to do without. Given that ATMs from premium vendors can list for up to $45K fully loaded, one can understand why.
I will give you the answer for Canadian banks: No. Also for American to Canadian: No. And it bothers me, because transferring money into my Canadian bank account is a huge pain in the butt, involving pay-pal to my mother (in Canada), and her making the withdrawal from her account and depositing it into mine.
If the card issued by your bank bears one of the network symbols such as Star or Plus, then you can withdraw money from any ATM belonging to another bank on that network. However, that bank may nick you with a fee for using their machine, and your bank may nick you for using someone else’s machine.
Deposits are subject to your bank’s regulations, and if other ATMs are permitted, a delay in processing may result, along with the fees per above.
I’ve never seen such a field, but then I’ve only ever attempted to deposit at BankOne (now Chase, formerly NBD) ATM’s. Used to be that I couldn’t even deposit into NBD machines in Chicagoland with my account being from Michigan!
In my experience (my experience being working for a company that does transaction switching and ATM driving software) banks typically do not like to take other bank’s deposits. I can understand why, I’m sure there is a crazy amount of overhead involved in making sure the guy actually deposited what he said he would, and sorting out the mess if not. And then there are checks to deal with. I bet if they did it, they’d want to charge an astronomical fee.
Cash withdrawals are easy, since all the participants can settle with file transfers on a regular basis.
I think you hit the nail on the head. At the bank I worked for, they changed their policy from accepting other bank’s deposits to no longer accepting them. Accepting outside deposits is like doing work for another bank and not getting paid for it. Even though a $2 ATM service fee might seem like a lot for the customer, I doubt it makes up for all the hassle involved for the banks.
And it was a lot of hassle. Handling ATM mixups for customers can be work enough. Trying to clear up mixups for customers of another bank can be a nightmare. I remember speaking to one (understandably upset) customer of our bank whose deposit made in another bank’s ATM was never credited. It took over four months for the whole mess to be straightened out.