Online banks are truly gaining more and more momentum by the day and with tons of people wanting to get more familiar with online banks, the best approach possible would be to address “How to Deposit Cash To An Online Bank Account.” If you have a online bank account, there’s plenty of methods to deposit cash into your account, from reloading a prepaid debit card to getting a money order, we’ll be discussing those various methods below. If you’re interested, be sure to read on.
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Recommended Online Bank Accounts:
- Discover Bank Online Savings
- Ally Bank Online Savings
- Goldman Sachs Bank Online Savings
- Discover Bank Online Money Market Account
Reloadable Prepaid Debit Card
You can link your card to your online bank account and be able to deposit funds into your bank at anytime. Below is steps on activating and linking your card to your account.
- Register your reloadable prepaid debit card online
- Load the funds onto your card, either at a retail store or bank
- Be sure to search the reloadable prepaid card’s website to find out how you can link an online bank account to your card
- Follow each step-instruction for linking your bank account
- Transfer the funds from your prepaid to your online bank account.
Transfer Cash from a Traditional Checking to Online Banking Account
With traditional checkings, we highly recommend that you look for a low to no monthly fee account.
- Deposit cash into your traditional checking account
- Proceed by transferring your money to a online bank account
- Most banks allow a bank-to-bank transfer after a verification process
Get A Money Order
- You can purchase money orders from financial institutions, U.S. Postal Services, and some big-brick-n-mortar stores like Walmart.
- In order to purchase, you’ll need to provide the payee’s name and address when depositing the money into your online account
- Once the money order is filled, you can either:
- Mail it to your bank
- OR utilize their mobile banking app (Preferred method)
Note that there has been an increasingly volume of Money Order Deposit Shut Downs. I don’t necessarily recommend this method considering that there’s fees applicable.
Make Deposits at Eligible Cash ATMs
There are ATMs out there that have a agreement or collaboration with your online bank and allows you capabilities of depositing cash directly at their ATMs. It may be necessary to contact your online bank in regards
- Start by inserting your ATM card into the ATM machine and entering your PIN
- Click the “Deposit” option on the screen.
- Choose the account in which you want your cash deposited to
- Select “Deposit Cash”
- Insert the bills
- Once you have accomplished all the necessary requirements, your cash should be deposited into your online bank account
With Online banks being increasingly more popular, brick and mortar branches are just not an option for most of these online banks. This is why it’s completely necessary to map out all the methods you can do to deposit cash into your online bank account. You can either utilize a prepaid debit card, a traditional checking account, money order, or just by depositing at an eligible cash ATM. Note that some ATM banks like Ally Bank or Discover Bank do not accept ATM cash deposit. Preferably, to avoid any extra steps or fees, I’d just use a traditional checking account. If you liked this article, go ahead and check out our list of the Best Bank Promotions nationwide and local!
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