14 Online Banks and Credit Unions That Accept Cash Deposits

  • Online banking usually does not have branches, so deposit methods may be limited.
  • Some online financial institutions allow you to deposit cash directly into your bank account.
  • You may have to pay a fee for cash deposits.

online banking

Known for high-yield bank accounts and low bank fees. But for easy cash deposit? Not so much.

If you’re looking for an online bank or credit union that allows you to deposit cash directly into your account, we’ve compiled a list of institutions you might want to consider exploring. We’ll walk you through the steps to deposit cash and give you tips on how to choose an online financial institution.

14 banks and credit unions that accept cash deposits

Here is the list of banks and

credit union

Featured in our guide to the best that lets you deposit cash at ATMs in the network.

  • alliance: Some Alliant ATMs accept cash deposits. You don’t pay a fee for the transaction.
  • axon: You can deposit cash by visiting a Green Dot location such as ACE Cash Express, CVS/Pharmacy, Dollar General, Kmart, Rite Aid, 7-11 or Walgreens stores. You may be required to pay a deposit fee.
  • Bethpage: Bethpage is part of the CO-OP Shared Branch and ATM network. You can make free deposits at credit unions with the CU Service Center logo.
  • Capital One 360: Capital One 360​​ has a variety of deposit methods. You can visit a nearby CVS/pharmacy and ask the cashier to help you deposit cash into your bank account using the bank’s mobile app. Capital One ATMs also accept cash deposits.
  • Charles Schwab: Charles Schwab offers unlimited ATM fee refunds because it does not have an ATM network. You can use any ATM that accepts cash deposits and you will be compensated if the ATM provider charges you.
  • bells: Chime lets you deposit cash at Walgreens with no fees. You can also make cash deposits at Green Dot locations, but charges may apply.
  • CIBC Bank: CIBC has ATMs that accept cash deposits. There are no fees involved.
  • consumer: The consumer is part of the CO-OP shared branch and ATM network. You can make free deposits at credit unions with the CU Service Center logo.
  • HSBC Direct: You can deposit cash at some bank ATMs. There are no fees involved.
  • loan club: LendingClub allows you to deposit cash at some MoneyPass and NYCE ATMs. You may be charged a fee initially, but LendingClub will reimburse you once a month for any ATM fees.
  • NBKC: NBKC is part of the MoneyPass ATM network. You can deposit cash at selected ATMs. NBKC also reimburses up to $12 per month for out-of-network ATM fees.
  • Pentagon Federal Credit Union: PenFed allows surcharge-free cash deposits at over 1,200 Allpoint ATMs.
  • NASA: USAA has ATMs that accept cash deposits. There are no fees involved.
  • Wing Financial: Select Wings Financial ATMs to accept deposits. You don’t pay a fee for your deposit.

How to Deposit Cash at Online Banking or Credit Union

When choosing an online financial institution, you may want to check out how to deposit money into a bank account.

Some online banks and credit unions do not allow you to deposit cash directly into your account. Instead, you have to deposit cash in a roundabout way. You deposit cash into an external bank account. You will then initiate the transfer from the external bank account to the online bank account.

The online financial institutions on our list offer more direct cash deposits. You can deposit cash at designated ATMs or stores. Below is a quick step-by-step guide on how to deposit cash at these locations.

How to deposit cash at an ATM

First, visit your bank’s website to confirm which ATM accepts cash deposits. Some financial institutions offer a limited number of ATMs with this feature, so you’ll have to use your bank’s location search tool to find available ATMs nearby.

Once at the ATM location, insert your debit card to start accessing your bank account. After entering your PIN, you will be asked what type of transaction you want to perform.you will choose this option deposit, and insert the cash into the ATM. The ATM will ask you to verify the amount of cash deposited and then you will complete the transaction.

How to deposit cash in stores

The financial institution will provide a list of retailer locations that you can visit to deposit funds.

You’ll go to a cashier at an eligible store and ask them to deposit cash into your online banking debit card. The cashier will process the transaction by swiping your card and you will deposit the money into your bank account via the bank’s debit card.

If you use Capital One for banking, you can also ask a cashier at CVS/Pharmacy to help you deposit cash into your bank account. You’ll log into the bank’s mobile app and use the “Add Cash in Store” feature to process the transaction.

Additional Tips for Choosing an Online Financial Institution

Alvin Carlos, CFA, CFP®, Financial Planner and Managing Director at District Capital Management, shared that some of his clients are reluctant to deposit money in online banking because they don’t trust the bank.

“It’s fair. It’s the fear of the unknown. They haven’t done that before. They don’t know who’s used that thing. The myth is that online banking isn’t secure, or that with online banking, you don’t have access to money,” Carlos said.

If you’re not sure if a bank is safe, Carlos recommends checking if the bank is FDIC insured.

“If they’re a legitimate bank, then it’s probably FDIC insured,” Carlos said. “If they really want to be diligent, you can actually go to the FDIC website and check the bank.”

Carlos also advises people to see if there are limits on how much you can transfer from online banking or withdraw money from ATMs each day. This can be helpful if you trade frequently or expect to make large purchases.

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